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Automotive AI Chipset Market Size

Report ID: GMI6794
Published Date: Sep 2023
Report Format: PDF

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Automotive AI Chipset Market Size

Automotive AI Chipset Market size was valued at over USD 2.3 billion in 2022 and is anticipated to grow at a CAGR of over 20% between 2023 & 2032. The pursuit of autonomous driving technology is a primary factor driving market growth. The rising preference for Electric Vehicles (EVs) is driving the need for efficient power management, and AI chipsets play a crucial role in optimizing battery performance. Automotive manufacturers are also increasingly integrating AI chipsets to enable vehicles to perceive and respond to their surroundings autonomously, enhancing safety & convenience. In-car infotainment systems and Advanced Driver Assistance Systems (ADAS), which are high in demand, also rely heavily on AI processing power. The quest for eco-friendly and connected vehicles will propel the adoption of AI chipsets over the forecast period.

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Automotive AI chipsets are specialized integrated circuits designed to perform advanced data processing tasks within vehicles. These chipsets incorporate artificial intelligence and machine learning capabilities to analyze data from various vehicle sensors, cameras & radars.

Automotive AI Chipset Market Report Attributes
Report Attribute	Details
Base Year:	2022
Automotive AI Chipset Market Size in 2022:	USD 2.3 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	20%
2032 Value Projection:	USD 15 Billion
Historical Data for:	2018 to 2022
No. of Pages:	250
Tables, Charts & Figures:	263
Segments covered:	Product, Application, Processing Type, Vehicle Type, and Region
Growth Drivers:	Increasing demand for ADAS Autonomous driving initiatives Growing Electric Vehicles (EVs) Growing demand for enhanced user experience Increasing connectivity demand
Pitfalls & Challenges:	Data privacy concerns High development costs

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As AI chipsets gather and process vast amounts of data from vehicles, concerns over data privacy & security arise. Mishandling or breach of this data can lead to privacy infringements and raise legal & ethical questions for automotive companies. Also, the research, development, and manufacturing of cutting-edge AI chipsets require substantial investments. This can strain the budgets of automotive manufacturers, particularly smaller companies, potentially limiting their ability to adopt these technologies.

Authors: Suraj Gujar , Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

Market size for automotive AI chipset was valued at over USD 2.3 billion in 2022 and is anticipated to grow at a CAGR of over 20% between 2023 & 2032, owing to the pursuit of autonomous driving technology.

The passenger vehicle segment held a dominant market share of over 70% in 2022 and is expected to grow at a lucrative pace by 2032, driven by the demand for enhanced safety, convenience, and driving experiences in these vehicles.

North America held a significant market share of over 30% in 2022 and slated to continue robust growth through 2032, favored by the presence of major automotive manufacturers, tech giants, and a robust research ecosystem in the region that has accelerated AI integration into vehicles.

Nvidia, Qualcomm, Intel, Renesas Technologies, and others.