IMR Knowledge Cluster

2024

AI in Automotive Industry in Europe

Trending Industry Insights Reports IT & Telecom IT Service

Description Table Of Content

The European automotive industry is experiencing a transformative shift driven by advancements in artificial intelligence (AI) and generative AI technologies. This transformation is not merely a trend but a fundamental change in how vehicles are designed, manufactured, and operated. With the market projected to grow significantly from 2017 to 2032, the integration of AI promises to enhance vehicle safety, efficiency, and user experience. As companies invest heavily in autonomous vehicle technology, the interplay between AI and the automotive sector becomes increasingly critical.

The landscape of the European automotive industry is characterized by strategic partnerships among companies working in AI. Collaborations between automotive manufacturers and tech firms are fostering innovation and accelerating the development of autonomous driving capabilities. These partnerships leverage the strengths of each participant, combining automotive expertise with cutting-edge AI research. The momentum of these collaborations is evident in the substantial capital investments being made, with billions of dollars flowing into AI and machine learning (ML) initiatives across Europe.

Investment and Market Size

The report presents a detailed analysis of market size data from 2017 to the forecasted year of 2032. The Artificial Intelligence in the European Automotive Industry is projected to witness robust growth, reflecting an increasing adoption of AI technologies. The European AI and Generative AI Market is expected to reach notable milestones by 2032, with projections indicating substantial revenue growth in billion US dollars.

A closer examination reveals that, as of 2024, the largest market value shares are concentrated in specific industries that are leveraging AI capabilities to enhance their operations. From 2017 to 2023, total capital invested in AI and ML in Europe has surged, illustrating the industry's commitment to innovation and development. Notably, the capital invested in Generative AI in Europe has also shown a strong upward trajectory, reflecting growing interest in applications that utilize generative capabilities for design, manufacturing, and customer engagement.

Economic Benefits

The global economic benefits from autonomous driving in 2023 are substantial, estimated in billions of dollars and representing a significant percentage of the overall economic landscape. These benefits underscore the potential for autonomous vehicles to reduce traffic congestion, enhance fuel efficiency, and improve overall road safety. Furthermore, the report highlights the share of capital invested in Generative AI relative to total AI and ML capital, showcasing the increasing emphasis on generative technologies as integral to future advancements in the automotive sector.

Employment Landscape

The number of active AI roles in Europe from 2017 to 2023 has seen consistent growth, with thousands of positions being created across various sectors. This trend is further dissected by country, illustrating the geographic distribution of AI employment opportunities within the automotive industry. As the demand for skilled professionals in AI continues to rise, it is vital for educational institutions and training programs to adapt to this evolving landscape.

Automotive Registration Trends

The report also analyzes new car registrations in 2022 and 2023 across European countries, highlighting trends in power sources and manufacturers. The data illustrates how consumer preferences are shifting towards electric and hybrid vehicles, aligning with broader sustainability goals. The share of new car registrations by manufacturer in the European Union provides insights into competitive dynamics within the market, revealing which manufacturers are successfully capitalizing on this transformation.

1. MARKET OUTLOOK

    1.1. Market Snapshot
    1.2. Market Definition
    1.3. Key Takeaways

2. MARKET STATISTICS

    2.1. Market Size 2017-2032F - Artificial Intelligence in the European Automotive Industry
    2.2. Market Size 2017-2032F - European AI & Generative AI Market
    2.3. European AI Market, Industries with Largest Market Value Share
    2.4. Total Capital Invested in AI / ML
    2.5. Capital Invested ($B) in GenAI
    2.6. Share (%) of Capital Invested
    2.7. Count of Investment Rounds in GenAI
    2.8. Count of Investment Rounds in GenAI
    2.9. Number of Active AI Roles
    2.10. Number of Active AI Roles by Country
    2.11. New Car Registrations in 2022 & 2023
    2.12. New Car Registrations by Power Source
    2.13. New Car Registrations by Manufacturer
    2.14. Share of New Car Registrations by Manufacturer
    2.15. Segmentation Analysis - Europe Automotive AI Market
    2.16. Private Investment in AI by Country
    2.17. Europe Economic Benefits from Autonomous Driving
    2.18. Global Economic Benefits from Autonomous Driving
    2.19. Deployment of AI in Automotive Industry
    2.20. Revenue of Top European Companies Working in AI in Automotive