The Business Research Company projects the automotive AI market will expand rapidly, fueled by IoT integration, predictive maintenance, and advanced sensor technologies, to support autonomous and fully digitalized vehicles.
Key points
- Integration of IoT-enabled sensors (LiDAR, radar, cameras) enables real-time vehicle data processing for predictive maintenance and autonomous navigation.
- Market CAGR projected at 39.1% from $3.75B in 2024 to $5.22B in 2025, and 37.1% growth leading to $18.43B by 2029.
- Segmentation spans hardware (processors, sensors), software (machine learning, NLP), and services (AI integration, data analytics), driving diverse automotive AI applications.
Why it matters: This market surge underscores AI's transformative role in enhancing vehicle autonomy, safety, and efficiency across the automotive industry.
Q&A
- What is predictive maintenance?
- How do IoT and AI work together in cars?
- What are ADAS features?
