Global Artificial Intelligence in Transportation Market – Analysis and Forecast (2018-2024)

Industry Insights by Machine Learning Technology (Computer Vision, Deep Learning, Context Awareness, and Natural Language Processing), by Process (Data Mining, Signal Recognition, and Image Recognition), by Application (Autonomous Trucks, Semi-Autonomous Trucks, and HMI in Truck) and by Offering (Hardware, and Software)

Status : Upcoming
Report Code : VRAT4008
Available Format : PDF
Industry : Automotive & Transportation

Industry Overview

Artificial intelligence is a computer operated task which involves human intelligence such as decision making. The global artificial intelligence in transportation market is growing at a significant rate due to mounting government regulation for vehicle safety and security and mounting implementation of enhanced driver assistance systems. Different process contributed to the artificial intelligence in transportation market size. The market has witnessed high demand for data mining in the coming years due to the mounting requirement for prognostic maintenance in transportation industry.

Market Segmentation

Insight by Machine Learning Technology

On the basis of machine learning technology, the artificial intelligence in transportation market is subdivided into computer vision, deep learning, context awareness, and natural language processing. Of all machine learning technology, deep learning segment accounted the largest share and is expected to grow at the fastest rate in the market, as it is extensively used in the advancement of autonomous vehicles, which demand to see, drive, think and learn.

Insight by Process

On the basis of process, the artificial intelligence in transportation market is subdivided into data mining, signal recognition, and image recognition. Of all the process, the data mining segment is expected to grow at the fastest rate in the market due to the mounting requirement for prognostic maintenance in transportation industry, mounting impact of artificial intelligence in car safety and infotainment, and demanding additional data of images and signals to be managed and analyzed. In addition, signal recognition segment accounted for the largest share in the market, as signals in the form of text, gestures, mapping, tracking, etc. are progressively used in several safety applications.

Insight by Application

On the basis of application, the market is subdivided into autonomous trucks, semi-autonomous trucks and HMI in the truck. Among all applications, the autonomous trucks are expected to grow at the fastest rate and accounted the largest share in the artificial intelligence in transportation market.

Insight by Offering

On the basis of the offering, the market is subdivided into hardware and software. Among all offering, the software accounted the largest share in the artificial intelligence in transportation market due to machine translation, object recognition and demand for progression in the areas of object perception.

Industry Dynamics

Growth Drivers

The stringent government regulation for vehicle safety and security, mounting implementation of enhanced driver assistance systems and increasing emphasis towards decreasing the transportation costs are the primary growth drivers for artificial intelligence in transportation market.

Advancement of autonomous vehicle by the implementation of safety features such as adaptive cruise control (ACC), advanced driver assistance system (ADAS), collision warning, and lane-keep assist is also facilitating the growth for the artificial intelligence in transportation market. For instance, several companies are capitalizing in the improvement of self-driving trucks.

In addition, truck platooning is also driving the growth of the artificial intelligence in transportation market. For instance, artificial intelligence technologies such as forward collision warning, sensor fusion, signal recognition, and lane keep assist are the major factors driving the growth of truck platooning. Moreover, mounting environmental concerns, strict government regulations for emission, mounting fuel proficiency and concerns of traffic congestion have enhanced the growth of the truck platooning in the market.

Challenges

The high cost of artificial intelligence systems and infrastructure cost are the major challenges for the growth of artificial intelligence in transportation market. In addition, machine learning is data driven and cybersecurity and data privacy are also hindering the growth of the market.

Geographic Overview

Geographically, North America is the largest artificial intelligence in transportation market due to the high level of funding from the government. In addition, the region is home to leading technology companies, shortage of truck drivers and stringent government regulations for road safety are also facilitating the growth of the North American market.

In Addition, Asia-Pacific is observed to witness the fastest growth in the market due to a steadily growing population. In addition, robust economic growth, the shift of unorganized third-party logistics sector to organized sector and growing logistics and supply chain sector are also up surging growth of the Asia-Pacific artificial intelligence in transportation market.

Competitive Insight

Key players in the artificial intelligence in transportation market are catering to the demand by collaborating, and acquiring with small players and investing on technologically advanced EVs across the globe. In February 2018, NVIDIA partnered with Continental, to create AI self-driving vehicle systems constructed on the NVIDIA DRIVE platform and have planned the market introduction of the vehicle in 2021. Volvo Group, Scania Group, Man SE, Daimler AG, PACCAR Inc., Magna, Robert Bosch GmbH, Continental AG, Valeo SA, Alphabet Inc,, NVIDIA, Microsoft Corporation, ZF Friedrichshafen AG and Intel Corporation are the key players offering artificial intelligence in transportation.

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