The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Current Growth Trajectory

• The artificial intelligence in transportation market has witnessed rapid expansion in recent years.
• From $3.11 billion in 2023, it is slated to reach $3.71 billion in 2024, boasting a CAGR of 19.4%.
• Key drivers include the use of cameras and sensors for collision avoidance, real-time information analysis, and the growth of high-performance computing and deep learning systems.

Anticipated Growth: Looking Ahead to 2028

• Forecasts project exponential growth, with the market expected to soar to $7.54 billion by 2028, maintaining a CAGR of 19.4%.
• Expansion in AI applications within supply chain logistics, surge in autonomous vehicle adoption, and integration of AI in multimodal transportation planning are catalysts for this growth.
• The demand for AI-driven solutions in public transportation systems is expected to further drive market expansion.

Autonomous Vehicles: A Catalyst for Market Expansion

• The surge in demand for autonomous vehicles is a significant driver of growth in the AI transportation market.
• Autonomous vehicles utilize AI for navigation, obstacle detection, and accident prevention.
• Consumer readiness for autonomous vehicle services, such as robotaxis, indicates a shifting landscape in transportation preferences.
• Major industry players include Volvo Group, Mercedes-Benz Group AG, Nvidia Corporation, and Alphabet Inc., among others.

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ADAS Advancements: Transforming Transportation

• Technological advancements, particularly in Advanced Driver Assistance Systems (ADAS), are reshaping the transportation market.
• Companies like Qualcomm are innovating with products like Snapdragon Ride, aiming to simplify autonomous driving and ADAS.
• Partnerships, such as Conduent Transportation’s collaboration with Hayden AI, focus on enhancing traffic safety and efficiency through real-time data collection and urban analytics.

Market Segmentation and Regional Dynamics

• The AI in transportation market is segmented by offering, machine learning technology, process, and application.
• Offerings include hardware and software, while machine learning technologies encompass deep learning, computer vision, and more.
• North America dominated the market in 2023, with Asia-Pacific expected to lead in growth during the forecast period.

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The Artificial Intelligence in Transportation Global Market Report 2024  provides an overview of the artificial intelligence in transportation market 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 and their market positions.

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