IDTechEx’s latest report, “Future Automotive Technologies 2024-2034: Applications, Megatrends, Forecasts,” reveals that AI and connectivity are set to revolutionize the automotive industry over the next decade.
At CES 2024, terms like “autonomous,” “connected,” “AI,” and “software-defined vehicle” dominated, signaling a significant shift in vehicle technology.
The report forecasts a 21.1% annual growth rate for connected and software-defined vehicles, projecting a market value of $700 billion by 2034. Key innovations showcased at CES included AI assistants from companies like Mercedes, Amazon Web Services (AWS), and Qualcomm. These assistants, capable of natural language interaction and equipped with advanced features like in-vehicle payment systems, promise to enhance driver experience and safety.
AI-driven functionalities, such as seamless voice commands and real-time service scheduling, are expected to become subscription-based services, generating substantial new revenue streams. With built-in AI accelerators and cloud connectivity, these technologies will ensure vehicles remain updated and responsive.
IDTechEx’s comprehensive reports offer detailed insights into the $1.6 trillion opportunity within emerging automotive technologies, underscoring the transformative potential of AI and connectivity in the automotive sector.
More at IDTechEx.com.
