Automobile AI and Generative Design market is projected to grow at a CAGR of 19% by 2034: Visiongain
Visiongain has published a new report: Automobile AI and Generative Design Market Report 2024-2034: Forecasts by Vehicle Type (Passenger Vehicles, Commercial Vehicles), by Component (Hardware, Software, Services), by Application (Vehicle Design, Manufacturing Optimisation, Connected Cars, Autonomous Driving, ADAS, Other) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern Analysis.
The global Automobile AI and Generative Design market was valued at US$630.7 million in 2023 and is projected to grow at a CAGR of 19% during the forecast period 2024-2034.
Generative AI in Driving Efficiency and Optimization in the Automotive Industry
Generative AI has been instrumental in driving efficiency and optimization in the automotive industry in several ways. Generative AI algorithms can assist in generating and optimizing vehicle designs. By inputting parameters such as performance requirements, material constraints, and manufacturing limitations, generative AI can create and refine designs that are lighter, stronger, and more aerodynamic, leading to improved fuel efficiency and performance.
Generative AI can simulate various driving conditions and conduct virtual testing of vehicles. This reduces the need for physical prototypes, saving time and resources. Through generative simulations, automotive companies can quickly identify potential weaknesses or areas for improvement in vehicle designs, leading to more robust and safer products.
Growing Electric Vehicle Industry to Offer New Avenues
The growing electric vehicle (EV) industry presents a plethora of opportunities for the integration of artificial intelligence (AI). AI is crucial for the development of autonomous driving technology, which is becoming increasingly relevant in the EV sector. Self-driving EVs rely heavily on AI algorithms to perceive the environment, make decisions, and navigate safely. As EV manufacturers continue to invest in autonomy, AI will play a central role in enhancing safety and efficiency.
AI can optimize battery performance and extend battery life in EVs. By analyzing data on factors such as temperature, charge cycles, and usage patterns, AI algorithms can predict battery health, recommend charging strategies, and even adjust power usage in real-time to maximize efficiency. AI can help optimize the placement and management of charging stations based on factors such as traffic patterns, energy demand, and user behavior. This can ensure better coverage, reduce congestion at charging points, and improve overall user experience.
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How will this Report Benefit you?
Visiongain’s 271-page report provides 100 tables and 145 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global automobile AI and generative designs market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for automobile AI and generative designs. Get financial analysis of the overall market and different segments, and company size and capture higher market share. We believe that there are strong opportunities in this fast-growing automobile AI and generative designs market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
Increasing Uses of Generative AI in Autonomous Driving and ADAS
Generative AI, particularly deep learning models like Generative Adversarial Networks (GANs) and Variational Autoencoders (VAEs), has been increasingly utilized in autonomous driving and Advanced Driver Assistance Systems (ADAS) for various purposes. Generative models can be used to generate synthetic data to augment real-world datasets used for training autonomous driving systems. This helps in diversifying the training data, making the system more robust to various real-world scenarios such as different weather conditions, lighting conditions, road types, and traffic patterns.
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https://www.visiongain.com/report/automobile-ai-market-2024/
Competitive Landscape
Automobile AI and Generative Design market is competitive in nature as leading companies operating in this industry dominated the market in 2023 and is expected to continue their dominance over the forecast period. Prominent companies are AUDI AG, BMW AG, Ford Motor Company, Honda Motors, Intel Corporation, LeewayHertz, Markovate Inc., Microsoft, NVIDIA Corporation, Tencent. Tesla Inc, Uber Technologies, Volvo Car Corporation, and Waymo.
Companies are adopting different strategies such as new product development, technology upgradation, merger & acquisitions, partnership, collaboration, and investment in order to stay competitive in the industry.
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In March 2024, Nvidia announced a major expansion of its collaboration with world-leading BYD and other Chinese electric car makers, including on the development of autonomous AI-boosted vehicles.
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In January 2024, Stellantis Enhanced Personalized Mobility Experience with Acquisition of CloudMade’s Artificial Intelligence Technologies and IP.
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About Visiongain
Visiongain is one of the fastest growing and most innovative independent market intelligence providers around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports, which cover 10-year forecasts, are hundreds of pages long, with in-depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets with a lot of synergies. These markets include automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customised and syndicated market research reports offer a bespoke piece of market intelligence customised to your very own business needs.
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