Artificial Intelligence in Automotive Market to exceed USD 12 bn by 2026

Artificial Intelligence in the Automotive market is set to grow from its current market was valued at over USD 1 billion in 2019 to USD 12 billion by 2026, according to a new research report by Global Market Insights, Inc. Growing demand for assistive technologies for an increase in driving comfort and safety will foster artificial intelligence in automotive market share in the forthcoming years. AI-powered vehicle systems are being heavily capitalized upon by the manufacturers as they have been launching new features in the vehicles that include lane assistance, adaptive cruise control and automated parking. For instance, Toyota had announced the launch of driver assistance systems of level-4 to enable automatic valet parking in the cars that are going to be launched in the future. The technology has been built with Panasonic and has expensive sensors that offer affordable parking help solutions to all the Toyota customers. There are several artificial intelligence in automotive market players that have been involved in the development of these technologies such as Audi AG., Daimler AG, Ford Motor Company, Harman International Industries, Inc., IBM Corporation, Microsoft Corporation, Alphabet Inc., BMW AG, Didi Chuxing, General Motors, Honda Motor Co., Ltd., Tesla, Uber Technologies and Volvo Car Corporation, among others.