Vehicle technology is becoming big, big business.
The market intelligence firm Tractica predicts that sales of artificial intelligence (AI) hardware, software and services in the automotive industry will surge from $404 million in 2016 to $14 billion by 2025, representing a compound annual growth rate of 48.3%.
Both the semi-autonomous and the fully autonomous vehicles of the future will rely heavily on AI systems, according to a new Tractica report.
“Artificial intelligence is not restricted to autonomous driving, however,” said principal analyst Keith Kirkpatrick. “Suppliers and automakers realize that AI can also be used to make life in the car more convenient and personalized, for both the driver and the passengers, in addition to enabling greater automation for a range of areas including vehicle maintenance, customer service, fleet management and navigation, among others.”
According to Tractica, the top use cases for automotive AI application, in order of revenue potential, are:
- Machine/vehicular object detection/identification/avoidance
- Personalized services in cars
- Building generative models of the real world
- Predictive maintenance
- Localization and mapping
- Sensor data fusion in machinery
- Predicting demand for on-demand taxis
- Simulating worlds for AI training
- Automated on-road customer service
- Truck platooning
- Vehicle network and data security
- Surge pricing for on-demand taxis
- Virtual testing and simulation for racing cars
- Driver-face analytics and emotion recognition
- Gesture recognition
To download a free executive summary of the report, “Artificial Intelligence for Automotive Applications,” visit the Tractica website.