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Automotive Artificial Intelligence Market Projected to Reach USD 9.6 billion, at a 27.2% CAGR by 2030 – Report by Market Research Future (MRFR)

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New York, US, Feb. 22, 2023 (GLOBE NEWSWIRE) — According to a Comprehensive Research Report by Market Research Future (MRFR), “Automotive Artificial Intelligence Market Information By Technology, By Process, By Application, By Vehicle Type, and Region – Forecast till 2030”, The Automotive Artificial Intelligence Market is expected to increase from USD 2.6 billion in 2022 to USD 9.6 billion by 2030, at a CAGR of 27.2% between 2022 and 2030.

Automotive Artificial Intelligence Market Overview

AI effectively implements the automotive value chain, which encompasses manufacturing, design, supply chain, production, post-production, “driving assistance,” and “driver risk assessment” systems. Automotive manufacturing services, like as part manufacturing and design, and collaboration with humans to assist in the production of AI autos. AI uses human data and algorithms to mimic human decision-making or thinking abilities. Automobile manufacturers can simplify their decision-making process to offer a high-quality client experience. AI tools and equipment, like as anti-lock braking systems (ABS) and adaptive cruise control, are already available in current vehicles. The next milestone in the automotive industry’s development is self-driving technology, which is primarily based on AI.

Market Competitive Landscape:

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The important firms in the automotive artificial intelligence industry are

  • Qualcomm Inc. (US)
  • Tesla Inc. (US)
  • Volvo Car Corporation (Sweden)
  • BMW AG (Germany)
  • Audi AG (Germany)
  • General Motors Company (US)
  • Ford Motor Company (US)
  • Toyota Motor Corporation (Japan)
  • Hyundai Motor Corporation (South Korea)
  • Uber Technologies Inc. (US)
  • Among others.

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The market’s high competitiveness may be owing, in large part, to the automotive businesses and plants increasingly embracing cutting-edge technologies for greater operational effectiveness. Furthermore, most organizations are engaged in mergers and acquisitions while launching new products and technologies in an effort to enhance their market share and product selection.

February 2023

Baidu will unveil its first electric vehicle model with its new conversational artificial intelligence (AI) technology, with the goal of creating a ChatGPT-like experience that allows owners and their vehicles to converse naturally.

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This is the Chinese technology giant’s latest endeavor to boost its main search engine business and encourage widespread adoption of AI for a variety of applications.

Automotive Artificial Intelligence Market Report Scope:

Report Metrics Details
Market Size 2030 USD 9.6 Billion
CAGR during 2022-2030 27.2% CAGR
Base Year 2021
Forecast 2022-2030
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered By Technology, By Process, By Application, By Vehicle Type, and by Region
Key Market Opportunities Cloud-hosted intelligence Driver assist features Internet of thing
Key Market Dynamics Advanced driver assistance systems Blind spot alert

Browse In-depth Market Research Report (100 Pages) on Automotive Artificial Intelligence Market:

https://www.marketresearchfuture.com/reports/automotive-artificial-intelligence-market-4258


Automotive Artificial Intelligence Market USP Covered:

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Market Drivers:

Increased R&D development in the automobile industry over the forecast period is one of the primary reasons driving the growth of the worldwide automotive artificial intelligence market. Data science and machine learning technology help keep vehicle companies competitive by enhancing everything from research to design to manufacturing to marketing processes, and automobile data analytics is not restricted to self-driving automobiles. For example, it is equipped with cameras, various sensors, radars, and lidar, which aid in course planning and a better awareness of the surroundings, which are factors that favorably affect the market.

Furthermore, increased public awareness of the autonomous industry is propelling the market. Customer demand for driverless vehicles has expanded dramatically, and autonomous features are highly wanted. Customers also expect semi-autonomous features for safety, despite some unfavorable media reporting. According to Cox Automotive Mobility Solutions Group, 54% of people seek semi-autonomous features for better and safer driving, which drives the automotive artificial intelligence market significantly.

The surge in government initiatives for car and road safety, automotive technology, telematics, and artificial intelligence can help to reduce traffic accidents and improve road safety. For example, data collecting on vehicles on the road and road conditions. Furthermore, real-time weather information and notifications may be mobile network and rapid data transfer choices. Ideally, an effort to reduce accidents Government-sponsored initiatives of this nature help to boost the automotive artificial intelligence business.

Market Restraints:

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High-tech advancements raise car costs, restricting market expansion to some extent. Furthermore, one of the attractive prospects for market expansion throughout the projection period is the increasing government initiatives to support AI technology.


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COVID 19 Analysis

COVID-19 has accelerated the use of artificial intelligence in crucial industries, particularly the automotive industry. Throughout the automotive value chain, including post-production, manufacturing, supply chain, design, production, driver assistance, and risk assessment systems, AI is used efficiently. Despite the fact that market participants had relatively modest sales volume during the first year of the pandemic, the market is progressively gaining pace. The epidemic of COVID-19 has forced manufacturers to reevaluate their short-term strategy for redefining automation.

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Automotive Artificial Intelligence Market Segmentation

By Technology

Deep Learning, Machine Learning, Context Awareness, Computer Vision, and Natural Language Processing are the technology-based market segments of the Automotive Artificial Intelligence market. Deep learning is projected to be the most important and fastest-growing technology. Many firms are investing on self-driving cars that use deep learning technology for image processing, speech recognition, and data analysis. For example, Google’s spin-off Waymo is heavily investing in autonomous vehicles and has an active system built into its self-driving vehicle with deep learning technology to recognize pedestrians in various conditions.

By Process

The Automotive Artificial Intelligence market is divided into three segments based on process: signal recognition, image recognition, and data mining. Data is collected from numerous sensors in a semi-autonomous or autonomous car, which can then be used to train the vehicle to identify or recognize images, obstructions, and other circumstances behind the wheel. Data mining is predicted to be the fastest-growing technique in the Automotive Artificial Intelligence Market due to the massive volumes of data created and processed in a vehicle.

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By Application

Human-Machine Interface, Semi-autonomous Driving, and Autonomous Driving are the application segments of the Automotive Artificial Intelligence market. Human-Machine Interface (HMI) and Autonomous Driving (AD). In the last few years, automotive HMI has advanced dramatically, incorporating disruptive technology such as voice recognition systems and gesture recognition systems. This is a burgeoning sector where breakthrough AI technology is being incorporated into upcoming premium models.


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Automotive Artificial Intelligence Market Regional Insights

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North America will be the most dominant market for automotive artificial intelligence by 2030, owing to the presence of major manufacturers in this field. Furthermore, in comparison to other regions, this region has far higher access to advanced technologies for developing artificial intelligence systems. The growing expectation of self-driving cars in the United States has contributed significantly to the growth of the sector in this country. Favorable government regulations, combined with the fact that the automotive industry’s leading companies, such as General Motors, Ford Motor Company, and Fiat Chrysler Automotive, are taking a stand in the advancement of artificial intelligence in automobiles by constantly improving their products, will give them a better market prospect.

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About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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Artificial Intelligence

Aero Design Labs receives U.S. and EASA approval for updated Boeing 737-800 drag reduction kit

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FORT WORTH, Texas, Sept. 30, 2024 /PRNewswire/ — Aero Design Labs (ADL) today announced it has received a Supplementary Type Certificate (STC) from the Federal Aviation Administration (FAA) and European Union Aviation Safety Agency (EASA) approval for its enhanced Boeing 737-800 drag reduction kit 2.0.

“We are delighted to introduce our next generation of the drag reduction kit, which we are referring to as ‘ADL Kit 2.0′,” said Jeff Martin, ADL President and CEO. “The ADL team has once again demonstrated its expertise and commitment to aviation carbon reduction through its continued improvement process. ADL’s next generation Kit 2.0 is an evolution from our original designs, meeting the stringent requirements based on valuable feedback from our launch partners. With our new EASA approval, we can now offer our carbon reduction kits to new EU airline customers.”
The ADL Kit 2.0 captures new benefits, and significantly reduces the installation time, delivering reduced out-of-service time for the conversion while generating meaningful fuel savings and reduced carbon emissions across the popular Boeing 737-800 variant. Based on feedback from airline partners, it is anticipated that a kit can be installed overnight, minimizing critical out-of-service time for the airlines.
“Having served as an airline operational executive, I understand the need for airlines to reduce their carbon footprint, save fuel and minimize aircraft out-of-service time for the modification,” said David Campbell, ADL Chief Operating Officer. “ADL Kit 2.0 offers better economics and a shorter payback period, assisting airlines with fuel savings and carbon reduction including their IATA CORSIA carbon reduction pledges.”
“On behalf of the team at ADL, we thank ALOFT AeroArchitects, NORDAM, AAR Corp, and the many airline partners who have assisted us on this journey”, concluded Jeff Martin. “Their feedback and contributions to our engineering efforts and joint commitments to reducing aviation carbon emissions are invaluable.”
About Aero Design Labs L.L.C.
Founded in 2015, Aero Design Labs (ADL) leads the way in the research, development and installation of drag reduction systems for airline fleets globally. ADL modifications to airlines’ existing fleets can result in fuel savings, extend fleet longevity and the potential for billions of pounds of CO2 to be prevented from entering the atmosphere. 
Media inquiries: Richard Bartrem [email protected]
Sales inquiries: David Campbell [email protected]
Logo – https://mma.prnewswire.com/media/2519564/Aero_Design_Labs_Logo_Logo.jpg 

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Artificial Intelligence

DocPro Limited Announces the Launch of DocLegal.ai

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Affordable AI-Powered Legal Solutions
HONG KONG, Sept. 30, 2024 /PRNewswire/ — DocPro Limited, a leading innovator in legal technology, has launched DocLegal.ai, a new platform designed to provide AI-powered legal assistance at an unbeatable price—less than the price of your daily coffee.

DocLegal.ai is a platform that consolidates legal document creation, editing, and review into a single interface. The platform offers the following features:
Custom Document Creation: Users can describe their scenario and receive a tailored legal document.Document Review and Editing: The AI assistant can edit, review, summarize documents, suggest clauses, and highlight potential risks.The platform is designed to provide affordable legal services to small businesses and individuals. It also aims to streamline workflows and automate routine tasks for legal professionals, enabling them to focus on high-value activities.
DocPro Limited has leveraged its experience with DocPro.com, which serves over 50,000 users globally, to develop DocLegal.ai. The company is a graduate of the Cyberport Incubation Program and is currently part of the HKSTP Incubation Program and Google for Startups Cloud Program.
As part of its soft launch, DocLegal.ai is offering exclusive access to the first 500 users for only $2.50  per document. Interested parties can Visit the DocLegal.ai website to sign up.
About DocPro Limited
Founded in 2020, DocPro Limited is a leader in the legal tech space, committed to enhancing the delivery of legal services through innovative AI-powered solutions. With platforms like DocPro.com and DocLegal.ai, DocPro empowers users to create and manage legal documents with unparalleled efficiency and precision. For more information, visit DocLegal.ai.
DocLegal.ai is poised to become an indispensable tool for anyone seeking reliable, efficient, and affordable legal documentation, reinforcing DocPro’s position as a pioneer in legal technology.
Media Enquiries: 
Kim [email protected]

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Amagi and Phenix Partner to Bring Next-Gen Low Latency and Seamless Ad Insertion for the Ultimate Viewer Experience

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Bitmovin Complements the Partnership With Its New Player Web X, Guaranteeing Seamless, Crystal-Clear Video Playback
NEW YORK, Sept. 30, 2024 /PRNewswire/ — Amagi, a global leader in cloud-based SaaS technology for broadcast and connected TV (CTV), today announced a partnership with Phenix Real Time Solutions to deliver next-generation FAST (free ad-supported streaming TV) and live events with the lowest latency available in the streaming marketplace. Amagi and Phenix will provide a complete turnkey solution for content owners to achieve real-time streaming with subsecond latency and server-side ad insertion (SSAI). By combining automation, scheduling, real-time streaming, and ad monetization, streaming customers can now deliver a “see it here first” experience, eliminate spoilers from social media, and provide a best-in-class viewing experience for their audiences.

Bitmovin adds a unique element to the mix by ensuring effortless, smooth playback on any browser, regardless of the device. Bitmovin’s open-source plugin system makes integration easy and provides the tools to maintain high-quality playback. The latest update also includes compatibility with Phenix Real-Time SSAI, combining flawless playback with real-time ad insertion.
The direct integration with Phenix now enables Amagi to output content from its Amagi CLOUDPORT automated scheduling and playout system into Phenix’s globally distributed real-time streaming network of over 34 points of presence for real-time delivery to viewers with subsecond latency. Further integration between Amagi’s Ad Tech platform and Phenix’s real-time SSAI capabilities facilitates dynamic and personalized ads while maintaining real-time playback and full compatibility with Bitmovin.
Bill Wishon, Phenix’s Chief Product Officer, stated, “Amagi has established itself as the foremost authority on FAST channel delivery. As a cloud-first company, Amagi has built itself into a pioneer in cloud technology for broadcasting and OTT. We are thrilled to join forces with them in delivering these innovative solutions.”
“Working with Phenix, the leader in real-time, scalable streaming delivery, allows Amagi to offer clients a full solution, including the industry’s first server-side ad insertion in real time. We can’t wait to see how customers deploy these workflows for next-generation OTT streaming,” said Richard Perkett, Chief Product Officer at Amagi.
Amagi provides a complete suite of channel creation, distribution, and monetization solutions. The company’s clients include some of the world’s biggest names, including A+E Networks UK, ABS-CBN, Astro, Cox Media Group, DAZN, Globo, Lionsgate Studio, NBCUniversal, Tastemade, and VIZIO.
Representatives from all the companies will be attending Amagi’s LA FAST 2024 conference on Oct. 1. More information is available at www.amagi.com/events/la-fast.
About Amagi
Amagi is a next-generation media technology company that provides cloud broadcast and targeted advertising solutions to broadcast TV and streaming TV platforms. Amagi enables content owners to launch, distribute, and monetize live linear channels on Free Ad-supported Streaming TV and video services platforms. Amagi also offers 24×7 cloud-managed services bringing simplicity, advanced automation, and transparency to the entire broadcast operations. Overall, Amagi supports 800+ content brands, 800+ playout chains, and over 5,000+ channel deliveries on its platform in over 150 countries. Amagi has a presence in New York, Los Angeles, Toronto, Mexico City, London, Paris, Sydney, Seoul, and Singapore, broadcast operations in New Delhi, and innovation centers in Bengaluru, Zagreb, and Łódź.
About Phenix
As the leader in delivering interactive video at scale, Phenix powers innovative digital experiences that drive acquisition, engagement and retention for some of the world’s biggest brands. Its patented technology is essential for delivering content in real-time that engages audiences with interactive experiences and generates revenue for sportsbooks, sports and gaming properties as well as broadcasters with real-time video streaming to global audiences at broadcast scale. Trusted with streaming video for world-class events like The Oscars, Cheltenham Festival and the Super Bowl, Phenix brings proven experience delivering video to mass audiences for the world’s largest events.
Phenix is headquartered in Chicago, Illinois, with offices in California and Europe. More information is available on the Phenix website or follow them on Twitter and LinkedIn.
About Bitmovin
Bitmovin is the leading provider of video infrastructure for global digital media companies and service providers. The company has been at the forefront of industry innovation and all major developments in the digital video streaming industry. 
Bitmovin built the world’s first commercial adaptive streaming player and deployed the first software-defined encoding service that runs on any cloud platform. Its cloud-native technology offers the most flexible and scalable media encoding, playback, and analytics solutions available with unparalleled device reach, ease of integration, and world-class customer support.
Bitmovin customers benefit from optimized operations, reduced time-to-market, and the best viewer experience possible. Bitmovin is headquartered in Denver, Colorado, and has major offices in Vienna, Klagenfurt, Austria as well as London and Berlin. The company has over 400 customers across the globe, including ClassPass, BBC, fuboTV, Hulu, and Discovery.
More information is available at www.bitmovin.com
Photo: https://mma.prnewswire.com/media/2519499/Amagi_and_Phenix_partner.jpg
 

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