The global artificial intelligence in transportation market size is expected to reach USD 7,065.1 million in 2028 and register a robust CAGR during the forecast period, according to the latest analysis from Emergen Research. The steady revenue growth of the artificial intelligence in transportation market can be attributed to the growing demand for safety and security in transportation and logistics and the increasing deployment of more advanced traffic management solutions. Artificial intelligence (AI) in transport is used to collect traffic data to reduce traffic congestion and improve public transport scheduling. AI helps streamline traffic patterns through real-time tracking and smart traffic light algorithms, enabling smooth traffic, which greatly improves various aspects of transportation. In addition, AI helps reduce fuel consumption and tailpipe emissions, which would otherwise be higher in a normal setting due to the slowness of many vehicles during a traffic jam or congestion.
Researchers have examined all the factors influencing the growth of the Artificial Intelligence in Transportation market globally and regionally. The report considers COVID-19 pandemic as one of the major influencing factors for the Artificial Intelligence in Transportation market. The pandemic has disrupted the supply chains and economic scenario of the market and hampered the growth of the market. The report examines in detail the overall impact of the COVID-19 pandemic on the Artificial Intelligence in Transportation market and its key segments. The report also offers current and future impact of the COVID-19 pandemic on the market.
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Some highlights of the report
- In October 2020, Daimler Trucks entered into a partnership agreement with Waymo for the deployment of SAE L4 autonomous technology. The partnership aims to combine Waymo’s automated driving technology with a state-of-the-art version of Daimler’s Freightliner Cascadia for autonomous driving.
- Signal recognition segment accounted for the largest revenue share in 2020. Signal recognition and processing is used in intelligent transportation systems, which include technologies deployed in roads and vehicles for management and improvement of traffic flow. Signal recognition-based systems are used to detect vehicles approaching an intersection, allowing traffic control systems to regulate traffic lights when needed.
- Computer vision is widely used in traffic management systems. It helps maintain a steady flow of traffic, which reduces traffic jams. Computer vision is also used in smart cities for the operation of ambient light sensors in streetlights.
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Furthermore, the report provides details about new players entering the market, barriers to entry and offers strategic recommendations to overcome these hurdles to gain a substantial presence in the industry.
Major players operating in the Artificial Intelligence in Transportation industry are:
Artificial intelligence in the transport market includes Daimler AG, Continental AG, Robert Bosch GmbH, VOLVO, PACCAR Inc., Magna International Inc., ZF Friedrichshafen AG, Scania AB, Valeo and MAN SE.
The global Artificial Intelligence in Transportation market is further analyzed in major geographical locations where the market has expanded to significant size. The main regions analyzed are North America, Latin America, Europe, Asia-Pacific, Middle East and Africa. The report offers country-wise analysis to provide a comprehensive analysis of the Artificial Intelligence in Transportation market in terms of production and consumption patterns, supply/demand ratio, import/export, revenue contribution, trends and the presence of leading players in each region. .
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Emergen Research has segmented the global Artificial Intelligence in Transportation market in terms of process, learning technology, application and region:
Process Outlook (Revenue, USD Million; 2021-2028)
- Recognition of signals
- Object recognition
- Data mining
Learning Technologies Outlook (Revenue, USD Million; 2021-2028)
- deep learning
- Context awareness
- computer vision
- natural language processing
Application Outlook (Revenue, USD Million; 2021-2028)
- Autonomous trucks
- HMI Trucks
- Semi-autonomous trucks
The regional analysis covers:
- North America (USA, Canada)
- Europe (UK, Italy, Germany, France, Rest of EU)
- Asia-Pacific (India, Japan, China, South Korea, Australia, rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, Rest of MEA)
The comprehensive Global Artificial Intelligence in Transportation Market report added by Emergen Research demonstrates that the global Artificial Intelligence in Transportation Market is expected to grow at a stable CAGR throughout the forecast period. The report has analyzed the key market drivers, restraints, growth opportunities, investment opportunities, threats and limitations of the Artificial Intelligence in Transportation Market. The report also offers an accurate forecast estimate at global and regional level to give a better understanding of the scope of the market.
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Key Features of Artificial Intelligence in Transportation Market Report:
- The report includes an overview of the Artificial Intelligence in Transportation market, along with market share, supply and demand relationship, production and consumption patterns, supply chain analysis and other ley elements.
- An in-depth analysis of the different approaches and procedures undertaken by key players to conduct their business effectively
- Offers an overview of production and manufacturing value, products and services offered in the market, and fruitful information on investment strategies
- Supply chain analysis along with the technological advancements offered in the report
- The report covers an in-depth analysis of the trends, drivers, restraints, limitations, threats and growth opportunities in the Artificial Intelligence in Transportation industry.
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