London, April 07, 2020 (GLOBE NEWSWIRE) — According to a new market research report “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”, published by Meticulous Research®, the automotive artificial intelligence market is expected to grow at a CAGR of 39.8% from 2019 to 2027 to reach $15.9 billion by 2027.
Various well-established automotive organizations across the globe are increasingly struggling with rising cost of operations, dissatisfied customers, declining sales, and unidentified competition. Therefore, the adoption of artificial intelligence technologies in the automotive sector is on the rise in order to create new opportunities and enhance operational capabilities by leveraging new possibilities, speeding up processes, and making organizations flexible to changes in the future.
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Realizing the fact, various organizations are investing