AI Market for automotive and transportation

1. Artificial Intelligence (AI) Market for Automotive and Transportation industry

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3. - Industry Overview -Artificial Intelligence (AI) Market for Automotive and Transportation industry The global artificial intelligence (AI) market for automotive and transportation industry is expected to reach USD 45.1 billion by 2024, growing at a CAGR of 17.7% during the forecast period. The global artificial intelligence (AI) market for automotive and transportation industry is growing at exponential rate with growing adoption of ADAS (Advanced Driver-Assistance Systems), rising investment in vehicle performance improvement, and implementation of government regulations for vehicle safety and security. Among the AI technologies, deep learning captures largest market share in terms of revenue and is the fastest growing technology as well. 

4. Drivers& Challenges -Artificial Intelligence (AI) Market for Automotive and Transportation industry Growing market adoption of self-driving and semi-autonomous vehicles is expected to be the dominant trend in the artificial intelligence market for the automotive and transportation industries. Drivers will benefit from AI incorporation of these cars because they will have better highways, less noise, and less emissions. Growing demand for improved driving experience with enhanced safety and comfort features will act as a major driver for the artificial intelligence market for automotive and transportation industry. Along with that, ADAS and inclination towards safety and security will act as an addition factor driving the market. All these factors will impact the artificial intelligence market for automotive and transportation industry progression in the market in years to come.  The high cost of AI integration in the automotive and transportation industries may stymie the growth of the artificial intelligence market in these industries. Furthermore, cyber security issues pose a serious threat to the industry.

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