Global Market for AI in Transportation Market is Anticipated to grow at a Significant Pace i.e., USD 11.35 Billion during the Forecast Period 2021-2027

Published Date: Aug, 2021

The global artificial intelligence in transportation market is expected to witness a CAGR of 19.5% during the forecast period. The world has been impacted by a wave of technological advancements in which artificial intelligence has been at the forefront of the technological revolution. The existence of a powerful global automation industry requires artificial intelligence. Thus, the largest consumer of AI technology is the transportation sector. Factors affecting the demand for AI in the transportation market is the rising advancement in AI technology, the need to regulate and control long-distance freight transport, rapid adoption of learning technologies automation for product innovation, such as autonomous vehicles, smart energy systems, parking, and lane change assistance are driving the development of AI in the transportation market. The rising need for advanced transportation planning, driver behavior, data management, road-making, etc is also leading to the growth of AI in the transportation market. The inception of industry standards i.e., blind-spot alert, adaptive cruise control (ACC), and advanced driver assistance system (ADAS) will propel the growth of AI in transportation. Nevertheless, the rising demand for AI solutions in railway cargo transportation is creating promising opportunities for AI in the transportation market.

Due to supply chain disruptions and the temporary shutdown of global manufacturing operations, the COVID19 epidemic has affected many industries around the world. Personnel safety needs to be prioritized, and public transport operators are reorganizing their operating procedures and regaining passenger safety and trust through proper hygiene and social distancing regulations. Artificial intelligence, the Internet of Things, and Intelligent Transportation System (ITS) applications can help solve various transportation problems.

Browse 76 market data Tables and 38 Figures spread through 238 Pages and in-depth TOC on " Artificial Intelligence in Transportation Market  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 Truck Platooning, Precision Mapping, Predictive Maintenance, HMI in Trucks, and Others), by IoT Communication (LTE, LPWAN, and 5G), and by Offering (Hardware and Software), and Region - Global Forecast to 2027"

By application, the autonomous trucks segment is projected to witness a faster pace during the forecast period.

Based on application, the AI in the transportation market is categorized into autonomous trucks, semi-autonomous trucks, truck platooning, precision mapping, predictive maintenance, HMI in the trucks, and others. The advancement in autonomous trucks is the primary focus of AI technology in the transportation market as the system performs all driving functions on all road types, with all speed range, and in all environment situations. The rising concern for road accidents due to human error and shortage of truck drivers globally have accelerated the need for autonomous trucks.

Global Artificial Intelligence in Transportation Market Segmentation Analysis

Segment

Categorization

Leading Category

Machine Learning Technology

Computer Vision, Deep Learning, Context Awareness, and Natural Language Processing

Deep Learning (Largest)

Process

Data Mining, Signal Recognition, and Image Recognition

Data Mining (Fastest)

Signal Recognition (Largest)

Application

Autonomous Trucks, Semi-Autonomous Truck Platooning, Precision Mapping, Predictive Maintenance, HMI in Trucks, and Others

Autonomous Trucks (Fastest)

IoT Communication

LTE, LPWAN, and 5G

5G (High CAGR)

Offering

Hardware and Software

Software (Largest)

Region

North America, Europe, Asia-Pacific, and Rest of the World

North-America (Largest)

Asia-Pacific (Fastest)

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“Asia Pacific to witness the fastest-growing region for AI in transportation market”

Asia Pacific is anticipated to be the fastest-growing region for AI in the transportation market owing to strong economic growth, burgeoning logistics, and supply chain, rising population, rising focus on enhancing driver and vehicle safety, the growing purchasing power of the middle-class population, will facilitate the growth of the region in AI in the transportation market.

Some of the major players in the global artificial intelligence in transportation market include 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.

Scope of the Report

Report Metric

Details

Market Size Available for the Years in the Study

2015–2027

Historical Period

2015–2020

Base Year

2020

Forecast Period

2021–2027

Segments Covered in the Study

Machine Learning technology, Process, Application, IoT Communication, Offering, and Region

Geographies Covered in the Study

North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)

Companies Covered in the Study

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

Global Artificial Intelligence in Transportation Market Coverage

Machine Learning Technology Insight and Forecast 2015-2027

  • Computer Vision
  • Deep Learning
  • Context Awareness
  • Natural Language Processing (NLP)

Process Insight and Forecast 2015-2027

  • Data Mining
  • Signal Recognition
  • Image Recognition

Application Insight and Forecast 2015-2027

  • Autonomous Trucks
  • Semi-Autonomous Trucks
  • Truck Platooning
  • Precision Mapping
  • Predictive Maintenance
  • HMI in the Trucks
  • Others

Offering Insight and Forecast 2015-2027

  • Hardware
    • Central Processing Unit (CPU)
    • Graphics Processing Unit (GPU)
    • Sensors
    • Others
  • Software
    • Platforms
    • Solutions

IoT Communication Insight and Forecast 2015-2027

  • LTE
  • LPWAN
  • 5G

Geographical Segmentation

Artificial Intelligence in Transportation Market by Region

North America

  • By Machine Learning Technology
  • By Process
  • By Application
  • By Offering
  • By IoT Communication
  • By Country – U.S., Canada, and Mexico

Europe

  • By Machine Learning Technology
  • By Process
  • By Application
  • By Offering
  • By IoT Communication
  • By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

  • By Machine Learning Technology
  • By Process
  • By Application
  • By Offering
  • By IoT Communication
  • By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Machine Learning Technology
  • By Process
  • By Application
  • By Offering
  • By IoT Communication
  • By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries

 

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Global Market for AI in Transportation Market is Anticipated to grow at a Significant Pace i.e., USD 11.35 Billion during the Forecast Period 2021-2027