Insights Into The Artificial Intelligence in Transportation Market’s Growth Opportunities Through 2023-2032 – Includes Artificial Intelligence in Transportation Market Size
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Growing demand for autonomous vehicles are expected to drive innovation in artificial intelligence in transportation manufacturing, thus driving the market during the forecast period.
The global artificial intelligence in transportation market is expected to grow from $2.6 billion in 2022 to $3.1 billion in 2023 at a compound annual growth rate (CAGR) of 19.4%. The artificial intelligence in transportation market size is expected to grow to $6.3 billion in 2027 at a CAGR of 19.4%.
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- By Offering: Hardware, Software
- By Machine Learning Technology: Deep Learning, Conputer Vision, Context Awareness, Natural Language Processing
- By Process: Signal Recognition, Object Recognition, Data Mining
- By Application: Semi Autonomous Truck, Truck Platooning, Predictive Maintenance, Precision And Mapping, Autonomous Truck, Other Applications
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global artificial intelligence in transportation market in 2021.
Major Market Players in the artificial intelligence in transportation market include Volvo Cars, Mercedes-Benz Group AG, Scania AB, Peloton Interactive, Inc., Valeo, Xevo Inc., NVIDIA Corporation, Intel Corporation.
Technological advancements have emerged as a key trend gaining popularity in artificial intelligence in the transportation market. Major companies operating in the market are focusing on innovations of new products to strengthen their market position. For instance, in January 2022, Qualcomm, a US-based semi-conductor manufacturing company, launched Snapdragon Ride. Snapdragon Ride aims to reduce the complexity of autonomous driving and Advanced driver assistance systems by combining high-performance, power-efficient hardware, artificial intelligence (AI) technologies, and an autonomous driving stack to deliver a low-cost, high-energy system. It provides comprehensive tools for compiling deep neural networks (deep learning).
The Artificial Intelligence in Transportation Global Market Report 2023 provides a artificial intelligence in transportation market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The artificial intelligence in transportation market forecast analyzes artificial intelligence in transportation market size, artificial intelligence in transportation market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Artificial intelligence in transportation refers to using artificial intelligence to process and predict data and outcomes for travel and transportation operations. It collects traffic patterns, minimizes road congestion, and enhances public transportation schedules. This process helps in optimizing logistics and decreases turnaround time.
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