The global incabin automotive AI market is growing at a high rate because of the flourishing automotive industry and the increasing focus towards offering overall comfort and enhanced experience to the driver along with the stringent government regulations regardingdriving safety ID: 869831
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In-Cabin Automotive AI Market, By Product, Trend Analysis, Market Share & Forecast, 2020-2027
Slide2Industry Trends & Forecast Report 2027A recent study conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the global in-cabin automotive AI market was worth USD 63.1 million in the year 2020. It is estimated to grow at a CAGR of 42.0%, earning revenue of around USD 731.9 million by the end of 2027. The growth can be attributed to factors such as a growing number of automobile products as well as expanding safety features to ensure the safety of people inside the vehicle. Additionally, increasing road accidents and stringent government regulations driving the adoption of driver monitoring systems and other applications are also contributing to the growth of the global in-cabin automotive AI market.
Slide3Growth driversExpanding Automobile Manufacturing OperationsThe flourishing automobile industry is presenting favorable growth opportunities to the global in-cabin automotive AI market growth. Increasing automotive production is boosting the demand for components used in in-cabin AI systems, thus influencing its market growth. Emerging economies like China, Japan, and South Korea are investing significantly in establishing plants at various locations. Additionally, steps are being taken to install advanced technologies like automotive in-cabins to maximize safety, which is set to boost the growth of the in-cabin automotive AI market.
Slide4RestraintsCost Influence of The In-Cabin Automotive AIThe in-cabin automotive AI involves various components,such as infrared LED detectors, CCD cameras, etc. The driver monitoring system also uses flashlights and warning sounds to alert the drivers. These are extremely advanced components, the installation of which ultimately will increase the price of the final product. This acts as a major hindrance to the adoption of the in-cabin automotive AI market. Moreover, the high price of this vehicle restricts its adoption to the top luxury brands such as BMW, Lexus, Cadillac, etc.
Slide5Impact of COVID-19 on Global In-Cabin Automotive AI MarketIn the wake of the COVID-19 pandemic, the global in-cabin automotive AI market has been severely impacted. During the lockdown, all automobile manufacturing operations were halted as a result of social distancing protocols and labor limitations. Furthermore, China is one leading provider of in-cabin automotive AI products. Due to the virus outbreaks in this region and the complete ban on imports and exports of goods from this region, the whole supply chain was disrupted, causing severe losses for the industry players of the in-cabin automotive AI market.
Slide6Global In-Cabin Automotive AI Market - Regional InsightsGeographically, the global in-cabin automotive AI market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle-East & Africa. Europe holds the largest market share with several luxury car brands that focus on enhancing safety features and the driving experience. Furthermore, the strong economic foothold of Europe and the high disposable income of citizens is also influencing the demand for in-cabin automotive AI technologies, such as image/sensors, cameras, infrared sensing, strain gauges, etc., propelling the overall market growth in this region.
Slide7Competitive LandscapeThe leading players in the global in-cabin automotive AI market are Visteon Corporation, Renesas Electronics Corporation, Ambarella, QUALCOMM Incorporated, Seeing Machines Limited, Eyeris, Aptiv plc, ZF Friedrichshafen AG, Eyesight Technologie, NXP Semiconductors N.V., Valeo
, Denso Corporation,
Faurecia
, Robert Bosch GmbH, Hyundai
Mobis, and other prominent players.
Sample Copy of the Report
:
https://www.blueweaveconsulting.com/report/global-in-cabin-automotive-ai-market/report-sample
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