The use of artificial intelligence
(AI) in the manufacture of motor vehicle parts for all types of automotive
vehicle is a major trend, according to The Business
Research Company’s research report on the motor vehicle parts market. AI technology is
increasingly used for detecting and predicting component failures, helping
component manufacturers to work proactively and more efficiently.
have been used for many years in automotive plants and facilities to assist and
also replace human employees. AI is also being used in combination with
robotics to help manufacturers reduce costs and downtime in production lines.
AI-based algorithms have the ability to digest masses of data from different
sources such as vibration sensors, separate errors from background noise,
detect anomalies, diagnose the problem, and predict if a breakdown is likely or
imminent, ultimately, improving system performance.
instance, BMW, a German multinational manufacturer of luxury vehicles,
currently within its operations uses AI to analyse component images from its
production line for real-time identification of deviations from the standard
product quality to help maintain standards and quality of their vehicle parts.
rise in emerging technologies and overall technological advancements is a
constant factor in driving market growth. Manufacturers are adopting
technologies or techniques such as sheet metal fabrication, digital
manufacturing, rapid manufacturing, cloud-based manufacturing, rapid
prototyping, and computerized numerical control (CNC) machining to be relevant.
following are the motor vehicle parts market segmentation in TBRC’s report– by type into motor vehicle
body, stamped metal & other parts, motor vehicle engine, power train &
parts, motor vehicle electrical & electronic equipment, steering
suspension, & interiors; by application into passenger vehicle, commercial
vehicle; by end use into OEM, aftermarket.
Pacific was the largest region in the motor vehicle parts
market, accounting for 44.2% of the total in 2021. It was followed by
North America, and then the other regions. The motor vehicle parts global market
forecast identifies the fastest-growing regions as the Middle
East and Africa, where growth will be at CAGRs of 11.5% and
11.0% respectively. These will be followed by South America, and Eastern
report also gives in-depth analysis of the impact of COVID-19 on the market and
draws on 150,000 datasets. A highly experienced and expert team of analysts and
modelers provides market analysis and forecasts. The reports identify top
countries and segments for opportunities and strategies based on market trends
and leading competitors’ approaches.
Image Source: Google Images