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How Big Is The Artificial Intelligence in Transportation Market Today And What Is Its Future Size?

In recent years, there’s been a quick expansion in the size of the artificial intelligence in transportation market. The market’s worth will leap from $3.63 billion in 2024 to $4.27 billion in 2025, exhibiting a Compound Annual Growth Rate (CAGR) of 17.6%. Several factors have spurred growth in the historic period, including the use of cameras and sensors for preventing collisions, the deployment of AI solutions for real-time data analysis, the rising utilization of high-performance computing and deep learning methods, the availability of vast data sources for training AI models, and the growing priority on automation for enhanced safety and efficiency.

Expectations are high for the artificial intelligence in transportation market, with forecasts predicting an impressive surge in growth over the coming years. By 2029, the size of the market is projected to expand exponentially to $9.02 billion, experiencing a compound annual growth rate (CAGR) of 20.6%. This anticipated surge during the forecast period can be traced back to the proliferation of AI applications in the supply chain and logistics sectors, to enhance operational efficiency. The growth is also fueled by the increasing implementation of AI in autonomous vehicle development, the incorporation of AI in multimodal transportation planning and coordination, and the rise in the adoption of AI for real-time route optimization and traffic forecasting. The growing demand for AI-integrated solutions in public transportation systems also contributes to this trend. Key trends expected during the forecast period include the creation of AI-operated mobility-as-a-service (maas) platforms, a focus on explainable AI to encourage transparency in decision-making processes, the application of AI to provide personalized and adaptable in-vehicle experiences, and the tailoring of AI solutions to cater to specific transportation sectors and industries. Moreover, partnerships between AI developers and transportation stakeholders are becoming a common practice.

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Which Key Factors Are Fueling Growth In The Artificial Intelligence in Transportation Market?

The surge in demand for self-driving vehicles is anticipated to drive the expansion of artificial intelligence within the transportation sector. Self-driving vehicles are transport mediums capable of navigating themselves from one location to another in an ‘autopilot’ mode, utilizing various onboard technologies and sensors such as adaptive cruise control, active steering, anti-lock braking systems, GPS navigation technology, lasers, and radar. To maneuver the vehicle and detect any impending collisions or impediments, these autonomous vehicles leverage artificial intelligence. For instance, a December 2023 report by the Victoria Transport Policy Institute, a research organization based in Canada, estimates that by 2045, half of all new vehicles may be autonomous, and by 2060 this may apply to half the total vehicle fleet. Consequently, the escalating demand for autonomous vehicles will catalyze the growth of artificial intelligence in the transportation market.

How Is The Artificial Intelligence in Transportation Market Segmented Across Key Categories?

The artificial intelligence in transportationmarket covered in this report is segmented –

1) By Offering: Hardware, Software

2) By Machine Learning Technology: Deep Learning, Computer Vision, Context Awareness, Natural Language Processing

3) By Process: Signal Recognition, Object Recognition, Data Mining

4) By Application: Semi Autonomous Truck, Truck Platooning, Predictive Maintenance, Precision And Mapping, Autonomous Truck, Other Applications

Subsegments:

1) By Hardware: Sensors, Edge Computing Devices, Control Units And Processors, Communication Devices

2) By Software: AI Algorithms For Route Optimization, Autonomous Vehicle Software, Fleet Management Software, Predictive Maintenance Solutions, Traffic Management Systems

What Key Trends Are Driving Growth In The Artificial Intelligence in Transportation Market?

Advancements in technology have become a leading trend in the artificial intelligence for transportation sector. To solidify their market place, several large corporations have been focusing on creating innovative products. One example is Qualcomm, a semi-conductor manufacturer from the US, which introduced Snapdragon Ride in January 2022. With the goal of simplifying autonomous driving and advanced driver assistance systems, Snapdragon Ride integrates high-performing, power-efficient hardware, AI technology, and an autonomous driving stack. This results in a cost-effective, high-energy system. Furthermore, it also offers extensive tools for building deep neural networks, a component of deep learning.

Who Are The Leading Companies Driving The Artificial Intelligence in Transportation Market?

Major companies operating in the artificial intelligence in transportation market include The Volvo Group, Mercedes-Benz Group AG, Scania AB, Peloton Interactive Inc., Valeo SA, Xevo Inc., Nvidia Corporation, Intel Corporation, Robert Bosch GmbH, Continental AG, Microsoft Corporation, International Business Machines Corp, Magna International Inc., ZF Friedrichshafen AG, Alphabet Inc., Daimler AG, General Motors Company, Aptiv plc, Denso Corporation, Xilinx Inc., TomTom NV, Harman International Industries Inc., Nauto Inc., FiveAI Inc., Waymo LLC, Uber Technologies Inc., Tesla Inc., Mobileye NV, Baidu Inc., AutoX Inc., Ponyai Inc., TuSimple Inc., Aurora Innovation Inc., Embark Trucks Inc., Plusai Inc.

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Which Region Dominates The Artificial Intelligence in Transportation Market Today?

North America was the largest region in the artificial intelligence in transportation market in 2024.Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the artificial intelligence in transportation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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