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Automotive Artificial Intelligence Market Outlook 2023-2028

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According to the latest research report, the global automotive artificial intelligence market size reached US$ 3.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 17.6 Billion by 2028, exhibiting a growth rate (CAGR) of 31.91% during 2023-2028.

The market is currently experiencing growth, primarily driven by the ongoing increase in consumer demand for advanced features in the automotive artificial intelligence (AI) sector. Users are continually becoming more tech-savvy, leading to heightened expectations for advanced features in vehicles, such as adaptive cruise control, automated parking, and advanced navigation systems.

Furthermore, the ongoing push for convenience, especially among younger demographics deeply engaged with technology in their daily lives, is actively fueling the growth of the market. In addition to this, the increasing congestion in urban centers is continually facilitating the demand for vehicles that offer intelligent features to effectively manage the complexities of city driving. This ongoing shift in consumer expectations is putting significant pressure on manufacturers to continually adopt AI technologies in automotive design, not merely as a value-add but as a core component that continuously influences purchasing decisions.

Explore full report with Table of Contents: https://www.imarcgroup.com/automotive-artificial-intelligence-market