Artificial Intelligence (AI) Cars and Light Trucks Market Scope
Artificial intelligence (AI) cars and light trucks are vehicles that can sense their surroundings and operate autonomously. A human passenger is not required to drive the vehicle at any time, nor is a human passenger required to be present at all times. An autonomous car can go anywhere a traditional car can go and do everything a skilled human driver can do. Currently, the Society of Automotive Engineers (SAE) defines six levels of driving automation, ranging from Level 0 (completely manual) to Level 5. (Fully autonomous). The US Department of Transportation has adopted these standards.
|Unit||Value (USD Million)|
|Key Companies Profiled||Waymo, LLC. (United States), IBM Corporation (United States), Intel Corporation (United States), Nvidia Corporation (United States), Xilinx, Inc. (United States), Micron Technology, Inc. (United States), Tesla, Inc. (United States), Ford Motor Company (United States), General Motors Company (United States) and Motional (United States)|
Market players are focusing on providing AI Cars and Light Trucks with higher quality along with complying with all regulatory standards to fascinate more end users. They are also focusing on the introduction of numerous advanced & attractive features to further offer advanced AI Cars and Light Trucks. Besides, the numerous industry profitability has led to the entry of new players, in turn, increasing the level of rivalry in the already competitive market. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Artificial Intelligence (AI) Cars and Light Trucks market throughout the predicted period.
Waymo, LLC. (United States), IBM Corporation (United States), Intel Corporation (United States), Nvidia Corporation (United States), Xilinx, Inc. (United States), Micron Technology, Inc. (United States), Tesla, Inc. (United States), Ford Motor Company (United States), General Motors Company (United States) and Motional (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Uber (United States), AutoX (United States), Optimus Ride (United States), Arity (United States), WiTricity (United States), Unity Technologies (Denmark) and Ouster (United States).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
The study have segmented the market of Global Artificial Intelligence (AI) Cars and Light Trucks market by Type , by Application (Human–Machine Interface, Semi-autonomous Driving and Autonomous Driving) and Region with country level break-up.
On the basis of geography, the market of Artificial Intelligence (AI) Cars and Light Trucks has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). region held largest market share in the year 2022.
Market Leaders and their expansionary development strategiesJune 2021 IBM announced the closing of its acquisition of Turbonomic, Inc., an Application Resource Management (ARM) and Network Performance Management (NPM) software provider based in Boston, MA.
February 2022 Minneapolis, Minn.-based global logistics services provider and freight forwarder C.H. Robinson and Mountain View, Calif.-based Waymo Via, the trucking and local delivery unit of autonomous driving technology company Waymo, announced today they have teamed up on a long-term strategic partnership focused on mutually exploring the practical application of autonomous driving technology in both logistics and supply chains.
As a threshold matter, autonomous technology and its mass collection of data will fundamentally impact traditional litigation. For example, in the event of an alleged mechanical failure, ownership and access to vehicle data will become a critical issue that stakeholders will need to resolve. E-discovery can help identify relevant data needed to prove facts related to causation and liability. Federal Rule of Civil Procedure 37 and parallel state rules were amended to reflect the availability of electronic data and to provide curative measures for data that are not preserved.
Influencing Trend:Increased Demand for Connected Vehicles That Use the Internet of Things (IoT), Reduced Traffic Congestion, and Increased Road Safety Measures are all Contributing to the Growth of the Market.
Market Growth Drivers:Technological advancements have driven the Market in Automatic Parking, Self-Driving, Autopilot, and Other Technologies That Reduce Human Effort While Driving.
Challenges:High Initial Cost of Investment.
Restraints:Threats Related to Security and Privacy Concerns, Such as Personal Data Security, and Cyber-Attacks, are Restraining the Market.
Opportunities:The Growing Demand and Necessity for a Safe, Efficient, and Convenient Driving Experience, as well as the Government's Increased Focus on Streamlined Traffic Infrastructure and Regulations, Will Create Numerous New Opportunities.
Key Target AudienceAI companies, Automobile manufacturers, New Entrants and Investors, Legalized Cannabis Distributors and Suppliers, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others