The global Automotive Artificial Intelligence market value is projected to be USD 7.0 Billion by 2027, growing from USD 2.3 Billion in 2022, at a Compound Annual Growth Rate (CAGR) of 24.1% during the forecast period. The report "Automotive Artificial Intelligence Market by Offering, Technology (Deep Learning, Machine Learning, Computer Vision, Context-aware Computing and Natural Language Processing), Process, Application, Component and Region - Global Forecast to 2027" The global Automotive Artificial Intelligence market size is projected to grow from USD 2.3 Billion in 2022 to USD 7.0 Billion by 2027; it is expected to grow at a CAGR of 24.1% from 2022 to 2027. The key factors contributing to the growth of the Automotive Artificial Intelligence market include the growing adoption of ADAS technology by OEMs, and the rising demand for enhanced user experience and convenience features are among the factors driving the growth of the Automotive Artificial Intelligence market. Software segment is expected to hold a larger share of automotive artificial intelligence market. The software holds a major share of the overall AI market in the automotive industry because of the various developments of AI software and related software development kits.

The global automotive artificial intelligence market is expected to grow at a CAGR of 39.8% from 2019 to reach $15.90 billion by 2027 with Asia Pacific automotive artificial intelligence market expected to grow at the highest CAGR. In modern digital society, artificial intelligence is becoming a dynamic business norm. The adoption of automotive artificial intelligence is routing in a new era allowing the companies to track their operations, augment business strategies, enhance in-car user experience, develop autonomous and semi-autonomous vehicles, and provide a better outcome in the digital world. The growth of the global automotive artificial intelligence market is primarily driven by factors, such as growing demand for autonomous vehicles, adoption of advanced automotive solutions, growing adoption of artificial intelligence for traffic management, government initiatives and investments in connected and autonomous vehicles. However, the lack of infrastructure coupled with the high procurement and operational costs are the major hindrances to market growth. The global market for autonomous vehicles has witnessed remarkable growth in recent years.

With AI-based virtual assistants becoming more mainstream, Cerence will continue to benefit from the secular demand from the automakers across all tiers. The co

Allied Market Research recently published a report, titled, "Automotive Artificial Intelligence Market by Component (Hardware, Software, and Service), Technology (Machine Learning & Deep Learning, Computer Vision, and Natural Language Processing), and Application (Semi-Autonomous and Autonomous): Global Opportunity Analysis and Industry Forecast, 2017 – 2025." The report offers a detailed analysis of top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, key segments, and changing market trends. According to the report, the automotive AI market was pegged at $445.81 million in 2017 and is anticipated to hit $8.89 billion by 2025, registering a CAGR of 45.0% from 2018 to 2025. Rise in demand for enhanced user experience as well as convenience features and growing demand for autonomous vehicle have fueled the growth of the global automotive AI market. On the other hand, rise in various security & privacy concerns hamper the growth to certain extent.

According to the new market research report "Automotive Artificial Intelligence Market by Offering (Hardware, Software), Technology (Deep Learning, Machine Learning, Computer Vision, Context Awareness and Natural Language Processing), Process, Application and Region - Global Forecast to 2025", published by MarketsandMarkets, the automotive artificial intelligence (AI) market report, the market is expected to be valued at USD 782.9 Million in 2017 and is expected to reach USD 10,573.3 Browse 66 Market Data Tables and 66 Figures spread through 203 Pages and in-depth TOC on "Automotive Artificial Intelligence Market - Global Forecast to 2025" The emergence of autonomous vehicle and industry-wide standards such as the adaptive cruise control (ACC), blind spot alert, and advanced driver assistance systems (ADAS) would trigger the growth of the automotive AI market. The growing demand for convenience and safety also presents an opportunity for OEMs to develop new and innovative artificial intelligence systems that would attract customers. Software holds a major share of the overall AI market in the automotive industry because of the various developments of AI software and related development kits. In the recent years, major developments have occurred in AI software solutions, platforms, and related software development kits.