Key Highlights of the AI in Transportation Market 2025-2034: Growth Dynamics, Trends, and Opportunities
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What is the Forecasted Expansion Rate of the AI in Transportation Market Over the 2025–2034 Period?
The artificial intelligence (AI) in the transportation sector has experienced significant expansion in recent years. Predictions indicate an increase from $3.78 billion in 2024 to $4.43 billion in 2025, showcasing a compound annual growth rate (CAGR) of 17.4%. This historic development is linked to improvements in traffic management, the evolution of autonomous vehicles, a surge in intelligent public transport demand, advancements in predictive vehicle maintenance and the growth of smart infrastructure.
Anticipated to witness a significant surge in the forthcoming years, the AI in transportation market is set to expand to a value of “$9.31 billion by 2029”, growing at a compound annual growth rate of 20.4%. The predicted increase during the forecast period can be linked to the proliferation of electric and connected vehicles, urban mobility AI integrations, the push towards sustainable and smart cities, improved safety features, and the ability to operate and monitor remotely. The forecast period is also expected to be marked by AI and machine learning algorithm advancements, government-driven initiatives and regulations, autonomous vehicle development, the use of AI for predictive maintenance, and the integration of various modes of transportation.
What Strategic Factors Are Influencing the Accelerated Growth of the ai in transportation Market?
The AI in transportation market is projected to grow due to the rising number of vehicles. This increase is linked to various factors such as population growth, economic progression, and the insufficiency of public transport systems. AI can enhance traffic flow, decrease congestion, and shorten journey times by analyzing live traffic data and realigning signal timings as well as lane setups. As an example, in 2022, Statistics Canada reported a minor increase of 0.3% in total registered road motor vehicles in Canada, reaching 26.3 million, compared to 2021. Consequently, the escalating quantity of vehicles is fueling the expansion of the AI in the transportation market.
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Who Are the Leading Organizations Fueling the Expansion of the AI in Transportation Market?
Major companies operating in the AI in transportation market include:
• Volvo AB_x000D_
• Mercedes-Benz Group AG_x000D_
• Alphabet Inc._x000D_
• Intel Corporation_x000D_
• NVIDIA Corporation_x000D_
Which Cutting-Edge Trends Are Expected to Drive the AI in Transportation Market’s Growth?
Leading entities in the AI and transportation sector are cultivating symbiotic relationships to leverage important data and resources from partners, thereby nurturing innovation and the genesis of cutting-edge technologies. Such collaborations allow organizations to amalgamate their skills and resources to create ground-breaking AI-powered transportation solutions. For example, in October 2023, Amazon, an American E-commerce giant, joined hands with UVeye, a US-based automatic vehicle inspection company, to engineer an AI-powered technology named Automated Vehicle Inspection (AVI). This technology has been meticulously curated to analyze delivery vans for discrepancies like tire defects, undercarriage degradation, and misshapen or twisted body parts. The AVI unit conducts a comprehensive vehicle scan within seconds as the vehicle moves at 5 mph, pinpoints issues, categorizes them on the basis of urgency, and instantaneously transmits the data to a computer. The technology’s goal is to enhance the safety protocols for Amazon’s delivery convoy while minimizing dependence on human inspections.
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What Are the Main Segments of the AI in Transportation Market, and How Are They Evolving?
The AI in transportation market covered in this report is segmented –
1) By Components: Hardware, Software
2) By Process: Signal Recognition, Object Recognition, Data Mining
3) By Technology Type: Natural Language Processing, Deep Learning, Computer Vision, Context-Awareness
4) By Application: Semi-Autonomous Truck, Truck Platooning, Predictive Maintenance, Precision And Mapping, Autonomous Truck, Machine Human Interface, Other Applications
Subsegments:
1) By Hardware: Sensors, Cameras, LiDAR, Radar, GPS Devices
2) By Software: Traffic Management Software, Autonomous Driving Software, Route Planning Software, Fleet Management Software, Predictive Analytics Software
Which Regions Are Most Influential in Expanding the AI in Transportation Market?
North America was the largest region in the AI in transportation market in 2024. The regions covered in the AI in transportation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
How Is the AI in Transportation Market Categorized and Defined in the Industry?
AI in transportation refers to the use of artificial intelligence (AI) technologies in various areas of transportation, such as autonomous vehicles, traffic management, and logistics. AI in transportation is used to forecast collisions based on environmental and other parameters to improve passenger safety, decrease accidents and traffic jams, cut carbon emissions, and lower overall costs.
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