Generative AI in Autonomous Vehicles Market Report 2024

This Generative AI In Autonomous Vehicles market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The Generative AI in autonomous vehicles market size has grown rapidly in recent years. It will grow from $2.24 billion in 2023 to $2.66 billion in 2024 at a compound annual growth rate (CAGR) of 18.6%. The growth observed in the historic period can be attributed to several factors, the expansion of big data, increased research in AI, advancements in computational power, enhanced connectivity, and the growth of edge computing.

The Generative AI in autonomous vehicles market size is expected to see rapid growth in the next few years. It will grow to $5.28 billion in 2028 at a compound annual growth rate (CAGR) of 18.7%. The projected growth during the forecast period can be attributed to several factors, rising consumer demand for efficient transportation, an increase in data annotation services, the growing deployment of 5G, a heightened focus on personalized experiences, and expanded testing of autonomous vehicles. Key trends expected in this period include technological advancements, the use of digital twins, developments in natural language processing, integration of generative adversarial networks, and the expansion of autonomous delivery services.

The growing trend of connected cars is expected to drive the expansion of the generative AI market in autonomous vehicles in the coming years. Connected cars are vehicles equipped with technology that allows them to communicate with other vehicles, infrastructure, and the internet, enhancing features like navigation, diagnostics, and real-time updates. This trend is gaining momentum due to advancements in technology that enable vehicles to interact with one another and their surroundings, offering improved safety, convenience, and functionality. Generative AI in autonomous vehicles further enhances connected cars by simulating and predicting complex driving scenarios, improving real-time decision-making and vehicle-to-everything (V2X) communication for better safety and efficiency. For example, in October 2024, a report from Road Genius, a US-based transportation and logistics company, revealed that by 2023, over 192 million connected cars were operating globally, with 80% of new cars sold in the U.S. being equipped with this technology. The number of connected cars is expected to rise to 367 million by 2027, as connectivity becomes a standard feature in more vehicle models. As a result, the growing trend of connected cars is fueling the growth of generative AI in the autonomous vehicle market.

Key players in the Generative AI in autonomous vehicles market are focusing on innovations such as deep teaching technology to enhance the learning and decision-making capabilities of autonomous vehicles. Deep teaching technology involves advanced machine learning methods that enable systems to learn complex tasks by emulating human teaching techniques, thus improving their performance and adaptability. For instance, in July 2024, Helm.ai, a US-based technology company, introduced VidGen-1, a generative video model for autonomous vehicles and robots. VidGen-1 creates realistic driving scene videos using deep learning and advanced neural networks. It trains cost-effectively on extensive driving footage, simulating various scenarios, weather conditions, and traffic dynamics. VidGen-1 improves autonomous driving by accurately predicting real-world appearances, intentions, and path planning, which are essential for safe self-driving technology.

In April 2022, Robert Bosch GmbH, a Germany-based engineering and technology company, acquired Five AI for an undisclosed amount. This acquisition is intended to enhance Bosch’s Generative AI capabilities, advancing self-driving technology and autonomous vehicle solutions. Five AI, a UK-based software company, specializes in AI technology for autonomous vehicles.

Major companies operating in the Generative AI in autonomous vehicles market are Bayerische Motoren Werke AG, Honda Motor Co. Ltd., Tesla Inc., Nissan Motor Co. Ltd., Intel Corporation, International Business Machines Corporation, NVIDIA Corporation, Baidu Inc., Aptiv PLC, Ansys Inc., Faraday Future Intelligent Electric Inc., Cruise LLC, Waymo LLC, Samsara Inc., Argo AI LLC, Renovo Motors Inc., Aurora Innovation Inc., AImotive Inc., Nuro Inc., Zoox Inc., Applied Intuition Inc., DeepMap Inc., Cognata Ltd.

Europe was the largest region in the Generative AI in autonomous vehicles market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the Generative AI in autonomous vehicles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the Generative AI in autonomous vehicles market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Generative artificial intelligence (AI) in autonomous vehicles involves advanced algorithms that enable self-driving cars to simulate, predict, and respond to a range of driving scenarios, thereby enhancing their learning, safety, and decision-making capabilities. By generating diverse driving scenarios, this technology improves real-time decision-making and system training, leading to greater adaptability and improved vehicle performance.

The main components of generative AI in autonomous vehicles include solutions and services. Solutions encompass all the products and technologies used, such as software, algorithms, and integrated systems. The vehicle types involved are passenger vehicles and commercial vehicles. Key applications include training and data augmentation, simulation and testing, enhancement of perception systems and sensing, localization and mapping, safety verification and testing, and behavior prediction and decision-making. The end users of generative AI in autonomous vehicles are automotive manufacturers and research and development organizations.

The Generative AI in autonomous vehicles market research report is one of a series of new reports that provides Generative AI in autonomous vehicles market statistics, including Generative AI in autonomous vehicles industry global market size, regional shares, competitors with a Generative AI in autonomous vehicles market share, detailed Generative AI in autonomous vehicles market segments, market trends and opportunities, and any further data you may need to thrive in Generative AI in autonomous vehicles industry. This Generative AI in autonomous vehicles market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The Generative AI in autonomous vehicles market includes revenues earned by entities by providing services such as system integration and optimization, consulting and advisory, support and maintenance, scenario planning, and risk assessment. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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