The automotive industry is among the sectors at the forefront of using artificial intelligence (AI) to mimic, augment, and support the actions of humans, while simultaneously leveraging the advanced reaction times and pinpoint precision of machine-based systems. Indeed, today´s semi-autonomous vehicles and the fully autonomous vehicles of the future will rely heavily on AI systems, according to a new report from Tractica, the company said.
While autonomous driving will be a impetus for AI spending in the automotive industry, the use cases for AI in vehicles are in fact much broader. Key applications encompass automotive human machine interaction (HMI) functionality like voice/speech recognition, driver face analytics, emotion recognition, and gesture recognition; maintenance and safety applications like predictive maintenance, automated on-road customer service, and vehicle network and data security; and personalized services in cars, among many others.
All told, across 15 such AI use cases, Tractica forecasts that revenue from automotive AI software, hardware, and services will increase from USD 2.0 billion in 2018 to USD 26.5 billion by 2025, representing a compound annual growth rate (CAGR) of 46.9%.
Tractica is a market intelligence firm that focuses on human interaction with technology. Tractica´s global market research and consulting services combine qualitative and quantitative research methodologies to provide a comprehensive view of the emerging market opportunities surrounding Artificial Intelligence, Robotics, User Interface Technologies, Wearable Devices, and Digital Health. For more information, visit www.tractica.com.