Automotive Artificial Intelligence (AI) Market by Component (Hardware, Software), Technology (Machine Learning, Computer Vision), Process (Signal Recognition, Image Recognition) and Application (Semi-Autonomous Driving) - Global Forecast to 2027

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Reshaping the Automotive Industry”: Trends
and Opportunities
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.
Growing Demand for Autonomous Vehicles is fueling the growth of the Global
Automotive Artificial Intelligence Market
The global market for autonomous vehicles has witnessed remarkable growth in recent
years. As the adoption of AI in autonomous vehicles progresses from needing driver
assistance to having full autonomy, enhanced user experience and convenience
features, driverless cars are becoming a reality. Autonomous vehicles are called self-
driven or driverless vehicles that use artificial intelligence (AI) software, light detection &
ranging (LiDAR), computer vision, GPS, and RADAR sensing technology and sensors
to operate without any human interference. The growing demand and necessity for safe,
efficient, and convenient driving experience; increasing government focus on
streamlined traffic infrastructure and regulations, rising demand for a reliable
transportation system, and availability of advanced technologies relevant for the
automotive industry are driving the demand for autonomous and semi-autonomous
vehicles, globally. Furthermore, an increase in demand for connected vehicles using the
internet of things (IoT), reduction in traffic congestion and increased road safety
measures, are contributing to the growth of autonomous vehicles market. In U.K the
government has committed an investment of $327.5 million (£250 million) towards R&D
and test sites to accelerate development of safe technologies for automotive vehicles
for the U.K. market.
Autonomous vehicle provides many features such as adaptive cruise control, automatic
emergency braking, automatic parking, lane departure warning systems, and adaptive
headlights. With technological enhancements, the number of such features is
continuously expanding. Automotive manufacturers are aggressively working towards

2. incorporating advanced technologies in their vehicles for enhancing the user
experience.
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Key Findings in the Global Automotive Artificial Intelligence Market Study:
Computer vision ready to create an impact in the global automotive artificial
intelligence market with a high growth rate
Computer Vision is poised to exhibit the fastest growth across the global automotive
artificial intelligence market. Several companies across the globe have started to adopt
image recognition as one of the artificial intelligence-based solutions in autonomous or
semi-autonomous applications which is expected to reshape their business. This is
mainly driven by soaring labor cost, widening the implementation scope of computer
vision in autonomous vehicles for signal recognition, driver monitoring and increase in
automation for carrying out core operations.
Asia Pacific: The Fastest Growing Market
The Asia Pacific region is experiencing significant growth across all fronts including
consumer electronics, internet infrastructure, economic growth, and spending
capabilities. Owing to the government initiatives, an increase in demand for premium
vehicles, rising investments in AI technology for improved productivity, and adoption of
AI-based solutions and services among autonomous and semi-autonomous applications
will contribute to growth in this region. According to an article published by Forbes, in
2019, the Asia-Pacific spending on artificial intelligence equaled nearly $5.5 billion, up
almost 80% from 2018, and expected to reach $15.06 billion by 2022. By the end of

3. 2020, the South Korean government plans to expand the country’s production of
automation systems and industrial robotics with investments into significant resources
worth $6.15 billion. Several other instances similar to the aforementioned ones are
indicating positive growth of the automotive artificial intelligence market in the Asia
Pacific region. Furthermore, developing internet and connectivity infrastructure, growing
adoption of intelligent based solutions for automating operations and increasing
digitalization are also aiding market growth in this region.
Software segment expected to maintain a majority share in terms of components
Gradually decreasing deployment cost of cloud-based software solutions along with a
rising need to connect multiple data points for seamless integration of processes will
result in software segment emerging as the major shareholder in terms of components.
The segment is expected to maintain its market share during the forecast period with
advanced technologies emerging in the market and necessity to upgrade systems in
order to streamline processes and operations within the automotive industry.
Services to emerge as the fastest growing sub-segment within component
Demand for services related to installation, upgradation and maintenance will constantly
rise as more and more automotive organizations look to implement AI solutions for
seamless flow of operations and improvements in terms of product quality. This will
result in a steady growth rate of services segment which in turn will exceed the CAGR
encountered in hardware and software segment.
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Scope of the Report:
Automotive AI Market, by Component
 Hardware
 Software
 Services
Automotive AI Market, by Technology
 Machine Learning
 Computer Vision
 Natural Language Processing
 Context-Aware Computing
Automotive AI Market, by Process
 Signal Recognition
 Image Recognition
 Voice Recognition
 Data Mining
Automotive AI Market, by Application
 Semi-Autonomous Driving
 Human Machine Interface
Automotive AI Market, by Geography

4.  North America
 U.S.
 Canada
 Europe
 Germany
 France
 U.K.
 Italy
 Spain
 Rest of Europe (RoE)
 Asia-Pacific (APAC)
 Japan
 China
 India
 South Korea
 Australia & New Zealand
 Rest of APAC (RoAPAC)
 Latin America
 Middle East & Africa
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Key questions answered in the report-
 Which are the high growth market segments in terms of components, technology,
process, application, and countries?
 What was the historical market for automotive artificial intelligence across the globe?
 What are the market forecasts and estimates for the period 2019–2027?
 What are the major drivers, restraints, opportunities, challenges, and trends in the
global automotive artificial intelligence market?
 Who are the major players in the global automotive artificial intelligence market?
 How is the competitive landscape in the global automotive artificial intelligence market?
 What are the recent developments in the global automotive artificial intelligence market?
 What are the different strategies adopted by the major players in the global automotive
artificial intelligence market?
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