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AI in Automotive Market Overview with In-Depth Analysis and Forecast (2020-2026)

Author : Ronak Bora | Published Date : 2020-08-19 

AI in automotive market has modernized auto insurance for better detection of damage and quick renewal of vehicle policy. AI-enabled car insurance has eased the process of inspection and making a repair claim. Many prominent insurance companies are teaming up with technology companies to develop AI-enabled insurance solutions for customers.

For example, ICICI Lombard has collaborated with Microsoft to create an AI-enabled car inspection feature for its mobile application, Insure. The app will use artificial intelligence and machine learning to divide images uploaded by the customer into frames and detect parts of vehicle to identify damage. The AI module can make faster decisions and reduce time involved in policy renewal and claim process.

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The app is mainly developed to simplify the auto insurance process in India, a country with over 230 million vehicles and almost 1200 vehicle accidents daily. The conventional process of scheduling inspections and securing approvals keeps the policyholder off the road for many days. The deployment of AI in auto insurance reduces the time of physical inspection and claim approval to mere minutes.

Some major findings of AI in automotive market report include:

With the dynamically changing technology landscape in the automotive sector, an increasing number of automobile manufacturers are focusing on integrating semi-autonomous and fully-autonomous technologies into their vehicles

Sophisticated onboard AI systems are providing real-time connectivity between vehicle & driver, enabling safe driving and reducing driver fatigue by suggesting resting periods & controlling car navigation during driver distraction

Machine learning solutions are witnessing a sustained rise in adoption, enabling AI systems to predict and decide driving patterns in dense traffic. With vastly improved neural network technologies, machine learning can achieve near human driving behavior without external assistance.

Technology providers including NVIDIA, Intel, and AMD are continuously upgrading their solutions and offering energy-efficient hardware, enabling AI technologies with low power consumption

The growing interest of government agencies in adopting autonomous mobility for reducing traffic accidents and improving traffic management is creating a positive outlook for the industry

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Some of the leading market players are Alphabet Inc., Audi AG, BMW AG, Daimler AG, Didi Chuxing, Ford Motor Company, General Motors Company, Harman International Industries, Inc., Honda Motor Co., Ltd., IBM Corporation, Intel Corporation, Microsoft Corporation, NVIDIA Corporation, Qualcomm Inc., Tesla, Inc., Toyota Motor Corporation, Uber Technologies, Inc., Volvo Car Corporation, and Xilinx Inc.

Table of Contents (ToC) of the report:

Chapter 5. AI in Automotive Market, By Component

5.1. Key trends, by component

5.2. Hardware

5.2.1. Market estimates and forecast, 2015 – 2026

5.3. Software

5.3.1. Market estimates and forecast, 2015 – 2026

5.4. Service

5.4.1. Market estimates and forecast, 2015 – 2026

Chapter 6. AI in Automotive Market, By Technology

6.1. Key trends, by technology

6.2. Computer Vision

6.2.1. Market estimates and forecast, 2015 – 2026

6.3. Context Awareness

6.3.1. Market estimates and forecast, 2015 – 2026

6.4. Deep Learning

6.4.1. Market estimates and forecast, 2015 – 2026

6.5. Machine Learning

6.5.1. Market estimates and forecast, 2015 – 2026

6.6. Natural Language Processing (NLP)

6.6.1. Market estimates and forecast, 2015 – 2026

Chapter 7. AI in Automotive Market, By Process

7.1. Key trends, by process

7.2. Data mining

7.2.1. Market estimates and forecast, 2015 - 2026

7.3. Image/signal recognition

7.3.1. Market estimates and forecast, 2015 - 2026

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/artificial-intelligence-ai-in-automotive-market

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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