GITNUX MARKETDATA REPORT 2024

AI In The Tire Industry Statistics

AI is expected to revolutionize the tire industry by optimizing production, improving safety, enhancing performance, and reducing environmental impact through data-driven insights and innovations.

Highlights: Ai In The Tire Industry Statistics

  • By 2027, global market of AI in automotive industry is expected to reach $10.73 billion.
  • The Asia Pacific region is currently leading the adoption of AI in the tire industry due to increasing vehicle production.
  • The global AI market in transportation is expected to reach $3.5 billion by 2023.
  • Europe is anticipated to grow at a CAGR of 39.0% in AI in the automotive industry from 2020 to 2027.
  • North America is predicted to grow with a CAGR of 36.8% in artificial intelligence in automotive industry from 2020 to 2027.
  • AI usage in Autonomous Vehicles is expected to grow at a CAGR of over 35% from 2020 to 2026.
  • By 2030, artificial intelligence is projected to increase global GDP by 14 percent, or $15.7 trillion.
  • In 2019, the global market of AI in automobiles was valued at $1.2 billion.
  • AI in automotive cybersecurity is expected grow at a CAGR of over 23% from 2021 to 2026.
  • Currently, less than 1% of vehicles are autonomous while 8-10% of vehicles have features that could be considered autonomous.
  • By 2025, the global AI market in transportation is expected to reach $5.5 billion.
  • By 2027, AI tire diagnostic software market is expected to grow at CAGR of 8.4%.
  • The use of AI in vehicle breakdown prediction and diagnosis will represent a market of over $5 billion by 2026.
  • AI can reduce manufacturing costs by 20% through improved efficiency.
  • About 75% of all vehicles could be autonomous by 2040.
  • In the U.S, 98% of cars will be connected to the internet by 2020.
  • The artificial Intelligence market in the automotive industries is growing at a rate of 10.74% from 2021 to 2027.
  • Approximately 87% of automotive industry providers are currently using AI in some capacity within their businesses.

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Today, artificial intelligence (AI) is revolutionizing various industries, and the tire industry is no exception. Incorporating AI technologies in the tire manufacturing process has the potential to improve efficiency, quality control, and overall performance. In this blog post, we will explore the impact of AI in the tire industry, backed up by statistics and data-driven insights.

The Latest Ai In The Tire Industry Statistics Explained

By 2027, global market of AI in automotive industry is expected to reach $10.73 billion.

The statistic indicates that the global market for artificial intelligence (AI) in the automotive industry is projected to grow substantially, with an expected value of $10.73 billion by the year 2027. This growth suggests a significant increase in the implementation of AI technologies within the automotive sector, which includes applications such as autonomous driving, predictive maintenance, and vehicle diagnostics. The rising demand for advanced driver assistance systems (ADAS) and connected vehicles is driving this market expansion. As AI continues to play a crucial role in driving innovation and efficiency in the automotive industry, the projected market value reflects the increasing importance and investment in AI technologies for vehicles in the coming years.

The Asia Pacific region is currently leading the adoption of AI in the tire industry due to increasing vehicle production.

The statistic indicates that the Asia Pacific region is at the forefront of incorporating artificial intelligence (AI) technology within the tire industry. This trend is being driven by the region’s growing vehicle production activities. As vehicles are being manufactured in higher numbers across the Asia Pacific region, there is a heightened demand for innovation and efficiency within the tire industry. By leveraging AI technology, companies in this region can enhance their production processes, improve product quality, and meet the evolving needs of the automotive market. This statistic highlights the pivotal role of AI in the tire industry’s evolution and suggests that the Asia Pacific region is positioning itself as a leader in embracing technological advancements to stay competitive in the global market.

The global AI market in transportation is expected to reach $3.5 billion by 2023.

The statistic indicates that the global artificial intelligence (AI) market within the transportation industry is projected to grow significantly, reaching a value of $3.5 billion by the year 2023. This growth reflects the increasing adoption of AI technologies in various sectors of transportation, such as autonomous vehicles, logistics, predictive maintenance, and traffic management. AI has the potential to revolutionize the transportation industry by improving safety, efficiency, and overall performance through advanced data analysis, machine learning, and automation. The anticipated market expansion signifies a growing recognition of the value that AI can bring to transportation systems worldwide, driving innovation and transformative changes in the way we move goods and people.

Europe is anticipated to grow at a CAGR of 39.0% in AI in the automotive industry from 2020 to 2027.

This statistic indicates that the European market for artificial intelligence (AI) in the automotive industry is expected to experience a compounded annual growth rate (CAGR) of 39.0% from 2020 to 2027. This signifies a significant increase in the adoption and implementation of AI technologies within the automotive sector in Europe over the forecast period. The CAGR of 39.0% suggests a strong momentum in the development and utilization of AI-driven solutions, such as autonomous driving systems, predictive maintenance, and intelligent customer service, across the automotive industry in Europe. This growth rate reflects the increasing emphasis on innovation and technological advancements in the automotive sector, positioning Europe as a key region for AI integration in the industry.

North America is predicted to grow with a CAGR of 36.8% in artificial intelligence in automotive industry from 2020 to 2027.

The statistic that North America is predicted to grow with a Compound Annual Growth Rate (CAGR) of 36.8% in artificial intelligence in the automotive industry from 2020 to 2027 indicates a significant and rapid rate of expansion for the region within this specific sector. This CAGR suggests that North America is expected to experience substantial growth in the integration and adoption of artificial intelligence technologies within the automotive industry over the specified time period. This growth rate highlights the region’s potential for advancements in AI-driven technologies within the automotive sector and underscores the increasing importance and impact of AI on this industry within North America.

AI usage in Autonomous Vehicles is expected to grow at a CAGR of over 35% from 2020 to 2026.

The statistic indicates that the utilization of artificial intelligence (AI) in the development and operation of autonomous vehicles is projected to experience significant growth over the period spanning from 2020 to 2026, with a compound annual growth rate (CAGR) exceeding 35%. This suggests a rapid adoption of AI technology in the automotive industry to enhance the capabilities of autonomous vehicles, such as improving safety, navigation, decision-making processes, and overall performance. The expected growth rate signals a strong momentum towards the integration of advanced AI algorithms and machine learning techniques to make autonomous vehicles more efficient, reliable, and ultimately closer to being fully autonomous and self-driving.

By 2030, artificial intelligence is projected to increase global GDP by 14 percent, or $15.7 trillion.

The statistic stating that by 2030, artificial intelligence is projected to increase global GDP by 14 percent, or $15.7 trillion, suggests the significant economic impact that AI technologies are expected to have on the world economy in the coming decade. This projection indicates that the adoption and integration of AI across various sectors and industries will lead to increased productivity, efficiency, and innovation, ultimately contributing to a substantial growth in the total value of goods and services produced globally. The estimate of a 14 percent GDP increase represents a considerable boost in economic output, with the potential to create new opportunities for businesses, workers, and consumers, while also posing challenges related to job displacement, ethical considerations, and regulatory frameworks in the AI-driven future.

In 2019, the global market of AI in automobiles was valued at $1.2 billion.

The statistic that the global market of AI in automobiles was valued at $1.2 billion in 2019 indicates the significant economic importance and increasing adoption of artificial intelligence technology within the automotive industry. This valuation represents the total monetary value of AI-based technologies integrated into vehicles for various functionalities such as autonomous driving, advanced driver assistance systems, predictive maintenance, and personalized user experiences. The growth of this market emphasizes the trend towards smart and connected vehicles, driven by the demand for enhanced safety, efficiency, and convenience in transportation. As AI continues to advance and become more integral to the automotive sector, this statistic highlights the ongoing transformation and evolution of the industry towards a more technologically advanced future.

AI in automotive cybersecurity is expected grow at a CAGR of over 23% from 2021 to 2026.

This statistic indicates that the application of artificial intelligence (AI) in the field of automotive cybersecurity is projected to experience a Compound Annual Growth Rate (CAGR) of over 23% between 2021 and 2026. This suggests a substantial growth trend in the integration of AI technologies within the automotive industry to enhance cybersecurity measures. The increasing reliance on AI is likely driven by the growing complexity of connected vehicles and the need to mitigate cybersecurity risks effectively. The forecasted growth rate highlights the strategic importance of AI in bolstering defenses against cyber threats within the automotive sector, indicating a shift towards more advanced and sophisticated cybersecurity solutions leveraging AI technology.

Currently, less than 1% of vehicles are autonomous while 8-10% of vehicles have features that could be considered autonomous.

This statistic suggests that the penetration of fully autonomous vehicles in the market is currently very low, with less than 1% of vehicles operating autonomously. However, there is a higher proportion of vehicles (8-10%) that have certain autonomous features, such as advanced driver assistance systems (ADAS) like lane-keeping assist or adaptive cruise control. While these vehicles may not be fully autonomous, they do possess some level of automation that could be considered a precursor to full autonomy. The disparity between the low percentage of fully autonomous vehicles and the higher percentage of vehicles with autonomous features highlights the gradual progression towards a future where autonomous vehicles may become more commonplace on the roads.

By 2025, the global AI market in transportation is expected to reach $5.5 billion.

The statistic indicates that the global market for artificial intelligence (AI) in the transportation industry is projected to grow significantly, reaching a value of $5.5 billion by the year 2025. This forecast suggests a notable increase in investment and adoption of AI technologies within the transportation sector, which includes applications such as autonomous vehicles, traffic management systems, predictive maintenance, and route optimization. The anticipated growth reflects the increasing recognition of AI’s potential to enhance efficiency, safety, and sustainability in transportation operations, as well as the rising demand for innovative solutions to address complex challenges within the industry.

By 2027, AI tire diagnostic software market is expected to grow at CAGR of 8.4%.

This statistic indicates the projected growth rate of the AI tire diagnostic software market up to the year 2027. The Compound Annual Growth Rate (CAGR) of 8.4% suggests that the market for AI tire diagnostic software is expected to expand steadily over the next few years at an average annual rate of 8.4%. This growth signifies increasing adoption of AI technology in the automotive industry for tire diagnostics, potentially driven by factors such as the need for efficient monitoring and maintenance of tire health, improvements in overall vehicle performance and safety, and the increasing integration of AI solutions in automotive systems. The CAGR provides a useful metric for understanding the market’s growth trajectory and can assist stakeholders in making informed decisions related to investments, product development, and market strategies.

The use of AI in vehicle breakdown prediction and diagnosis will represent a market of over $5 billion by 2026.

The statistic states that the market value for the use of artificial intelligence (AI) in predicting and diagnosing vehicle breakdowns is projected to exceed $5 billion by 2026. This indicates a growing trend towards the integration of AI technologies to enhance the efficiency and reliability of vehicle maintenance and management systems. By leveraging AI algorithms and machine learning models, automotive companies and service providers can improve their ability to forecast potential breakdowns, diagnose issues accurately, and ultimately reduce maintenance costs and downtime for vehicle owners. The significant market value forecast suggests a strong industry demand for advanced AI solutions in the automotive sector, emphasizing the importance and potential impact of predictive maintenance technologies in ensuring vehicle safety and performance.

AI can reduce manufacturing costs by 20% through improved efficiency.

The statistic that AI can reduce manufacturing costs by 20% through improved efficiency suggests that implementing artificial intelligence technologies in manufacturing processes can lead to substantial cost savings. By leveraging AI capabilities such as predictive maintenance, robotic process automation, quality control, and demand forecasting, companies can streamline operations, optimize production processes, and minimize waste. This enhanced efficiency results in lower overall manufacturing costs, potentially yielding significant financial benefits for organizations looking to remain competitive in today’s rapidly evolving industrial landscape.

About 75% of all vehicles could be autonomous by 2040.

The statistic “About 75% of all vehicles could be autonomous by 2040” suggests that a significant portion of vehicles on the road may have the capability to operate without human intervention within the next two decades. This prediction implies a substantial increase in the adoption and deployment of autonomous vehicle technology over the coming years. Factors contributing to this potential scenario may include advancements in autonomous driving technology, increasing consumer acceptance and trust in such systems, as well as regulatory developments and infrastructure improvements to support autonomous vehicles. However, it is important to acknowledge that such projections are subject to uncertainty and may be influenced by various unpredictable factors such as technological hurdles, public perception, and legal considerations.

In the U.S, 98% of cars will be connected to the internet by 2020.

The statistic that 98% of cars in the U.S will be connected to the internet by 2020 implies a significant trend towards increased connectivity and technology integration within the automotive industry. This indicates that the vast majority of vehicles on the road will have the capability to access the internet for various functions such as navigation, entertainment, and communication. This trend suggests a shift towards smart vehicles, which can enable features like real-time traffic updates, remote monitoring, and autonomous driving capabilities. The widespread adoption of internet-connected cars can have implications for safety, convenience, and overall user experience in the transportation sector.

The artificial Intelligence market in the automotive industries is growing at a rate of 10.74% from 2021 to 2027.

The statistic “The artificial intelligence market in the automotive industry is growing at a rate of 10.74% from 2021 to 2027” indicates the projected annual compound growth rate of the artificial intelligence sector within the automotive industry over the specified period. This means that if we consider the starting point in 2021 as the base year, the market is expected to expand by 10.74% every year until 2027. This growth rate highlights the increasing adoption of AI technologies such as autonomous vehicles, predictive maintenance, and connected car systems within the automotive sector. The consistent growth rate suggests a strong demand for AI solutions in improving efficiency, safety, and overall performance in the automotive industry in the coming years.

Approximately 87% of automotive industry providers are currently using AI in some capacity within their businesses.

The statistic highlights that a significant majority, around 87%, of automotive industry providers have integrated artificial intelligence (AI) technology into their operations to some extent. This suggests a widespread adoption of AI solutions across different areas of the automotive sector, such as manufacturing, supply chain management, marketing, and customer service. The use of AI in these businesses can bring various benefits, including process optimization, predictive maintenance, enhanced decision-making, cost reduction, and improved customer experiences. The high percentage of AI adoption among automotive industry providers indicates a growing recognition of the value and potential of AI in driving innovation, efficiency, and competitive advantage within the industry.

References

0. – https://www.www.globenewswire.com

1. – https://www.www.statista.com

2. – https://www.www.onpointwarranty.com

3. – https://www.www.gminsights.com

4. – https://www.www.marketsandmarkets.com

5. – https://www.www.mordorintelligence.com

6. – https://www.www.capgemini.com

7. – https://www.www.ai-online.com

8. – https://www.www.pwc.com

9. – https://www.www.prnewswire.com

10. – https://www.ec.europa.eu

11. – https://www.www.alliedmarketresearch.com

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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