The Global In-Vehicle AI Robot Market size is projected to be worth USD 275.2 million by 2030, registering a CAGR of 19.4% during the forecast period (2022-2030).
Modern automotive industry is witnessing immense technological advancements especially towards automation and intelligence in the vehicle. In-vehicle AI robot refers to the cutting-edge technology that enables automobile to operate autonomously without any human guidance. It can operate and control different functions using various sensors and electronic control units (ECUs). In-vehicle Al robots consists of highly precise sensors, algorithms, microprocessors etc., these devices communicate with each other mostly through Controlled Area Network (CAN) protocol in order to control various inter-dependent operations such as braking, acceleration, steering etc. In-vehicle AI systems such as advanced driver assistance systems (ADAS), and driver monitoring systems are catching maximum attention withing the automotive industry.
COVID-19 Impact on the Global In-vehicle AI Robot Market:
Nationwide lockdowns amid alarming health emergency caused due to spread of novel coronavirus has hindered growth of the in-vehicle AI robot market, as automotive industry witnessed sharp downfall in the sales during the period. Several major countries had undergone significant supply-chain disruptions which destabilized the market for couple of years.
However, the market is observed to get rebounded since mid-2021 but still automotive manufacturing in several key regions such as Europe has not seen positive growth outlook. This has caused slowdown in the overall growth of the in-vehicle AI robot market globally.
In-vehicle AI Robot Market Dynamics
Based on autonomous level
Level 1 and 2, level 3, level 4, and level 5 are the segments based on autonomous level of a vehicle in the global in-vehicle AI robot market. The level 1 and 2 is expected to hold maximum share of the global market during the forecast period. While level 3 of autonomous level is likely to register maximum growth rate, this is attributed to the promising features offered within the segment. Vehicles with autonomous levels 4 and 5 are at introduction phase and are subjected to clear some government approvals in several countries.
Based on vehicle category
Passenger cars, and commercial vehicles are the segments based on vehicle category in the global in-vehicle AI robot market. The passenger car segment is further elaborated to compact & mid-sized passenger cars, premium & luxury passenger cars, and SUVs. While commercial vehicles are further segmented as light commercial vehicles (LCV), heavy commercial vehicles (HCV), and buses & coaches. The passenger cars segment is expected to hold maximum share and showcase significant growth outlook in the global in-vehicle AI robot market. This is attributed to increased sale of premium & luxury cars in developed countries.
Based on vehicle propulsion
Electric vehicles (EV) and internal combustion engine (ICE) vehicles are the segments based on the sales channel of the Global In-vehicle AI Robot Market. The market is projected to be dominated by the electric vehicle market segment. The EV segment includes hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and battery electric vehicles (BEVs). HEVs are combination of EV and IC engine system and are powered by both fuel and electricity. This is designed to provide several advantages, such as high power and improvement in fuel economy.
In-vehicle AI Robot Market Regional Analysis
The regions are classified as North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America is expected to lead the global in-vehicle AI robot market with maximum shareholding, while Asia-Pacific is projected to register maximum growth during the forecast period. Improved vehicle safety by eliminating human error and cater to the demand for automation of vehicle are key focus areas of leading market players. Growing human development index and improving lifestyle among citizens of developing countries such as India, Indonesia, and Brazil are expected to cause immense growth of the market during the forecast period. In addition to this, leading automotive exporting countries like China & Mexico will register significant growth during the forecast period. According to a survey, over 3 million automotive vehicles are manufactured in in a year in Mexico and around 90% are exported to developed countries like US. Therefore, growing demand for in-vehicle AI robot in developed countries will automatically propel growth of the manufacturing hubs such as Mexico.
Asia-Pacific is catching attention of the world as it has emerged as the favorite manufacturing hub for global automotive industry. At the same time, the region is also one of the biggest consumers of automobiles, which makes region the more suitable for manufacturers in-vehicle AI robot market to invest. Countries such as China, India, Japan, South Korea, and Australia are the greatest contributors to the regional market. Other regions such as Middle East & Africa, and South America are expected to create significant opportunity in the global in-vehicle AI robot market.
In-vehicle AI Robot Market Competitive Landscape
The global in-vehicle AI robot market is less fragmented in nature, and it is characterized by specialized players in the artificial intelligence industry. The market is moderately competitive, at the same time it is being driven by technological advancements offered by manufacturers, therefore, leading players are investing more on research & development of their product. However, ongoing crisis pertaining shortage of semiconductor material is likely to restrain the market growth. The vendors compete in terms of advancement, cost, product quality, reliability, and after-market services.
List of Key Companies covered in the report:
In-vehicle AI Robot Market Report Overview
The Global In-vehicle AI Robot Market is segmented on autonomous level, vehicle category, vehicle propulsion, and region in this report. The report is focused on various analytical aspects such as market dynamics, Supply chain analysis, Porter’s five forces, competitive landscape, recent developments, and company profiles. The insights in this report, comprise, discuss views, and predict the emerging and fast-growing segments, regions, and countries with potential of development in the Global In-vehicle AI Robot Market.
By Autonomous Level
By Vehicle Category
By Vehicle Propulsion
Objectives of the Study
|Market Size||2030: USD 275.2 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Autonomous Level, Vehicle Category, and Vehicle Propulsion|
|Geographies Covered||North America, Europe, Asia-Pacific, Middle East & Africa, and South America|
|Key Vendors||Motional Inc., Nauto Inc., Horizon Robotics, AutoX Inc., Argo AI, MG Motor, Predii Inc., Refraction AI Inc., Waymo LLC, Optimus Ride, Robert Bosch GmbH, Zoox Inc.|
|Key Market Opportunities||Increased spending on vehicle purchasing Technological advancement within industry|
|Key Market Drivers||Increasing demand for vehicles those are safer & less prone to accident Increasing sale of EV and luxury vehicles|
The Global Child Presence Detection System Market would register a growth of ~19.4% during the forecast period.
Shortage of raw material like semiconductor chip is a key restraining factor for the Global In-vehicle AI Robot Market
North America would enjoy the upper hand in the Global In-vehicle AI Robot Market