Artificial Intelligence in Transportation Market is expected to reach USD 6.6 Billion by 2026 from 1.2 Billion in 2016 at a CAGR 20.3%. Enhanced systems are used in the transportation sector to provide real-time data along with providing more support to avoid unwanted accidents thereby boosting overall demand for artificial intelligence in the transportation sector. Factors such as growing demand for safety & security and increasing focus towards reducing the operating cost of transportation are responsible for the continuous growth of artificial intelligence market for transportation.
On the basis of machine learning technology, deep learning technology is widely used in an autonomous segment to drive, see, think, analyze and take decisions for autonomous vehicles. By application, the main focus of the Artificial Intelligence in Transportation Market is on manufacturing fully autonomous trucks. Companies such as Scania, Volvo, and Daimler are developing and testing few fully autonomous trucks having features such as image processing, self-driving, speech recognition, and data analysis. Truck platooning is another key emerging segment. Technologies such as sensor fusion, forward collision warning, signal recognition and lane further assists and act as key drivers for truck platooning. The high cost of artificial intelligence systems, infrastructure development cost and a high cost of the advanced feature such as adaptive cruise control, blind spot detection, lane assistance, and collision warming system are some major restraints for global market affecting overall growth. North America is projected to be the largest market for artificial intelligence in the transportation market. Rising government regulation to reduce the number of accidents in the transportation sector along with growing demand for automated control vehicles has positively affected the demand for artificial intelligence in the transportation market within North America. The Asia Pacific is expected to monitor one of the fastest growth globally with factors such as the increase in demand for automated vehicles along with rising in a number of causalities leading the government to put stringent regulations are a few major factors boosting overall growth of artificial intelligence in the transportation market. Key Highlights: • Artificial Intelligence in Transportation Market analysis and forecast, in terms of volume and value. • Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Artificial Intelligence in Transportation Market. • Artificial Intelligence in Transportation Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided. • Artificial Intelligence in Transportation Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of the study. • Artificial Intelligence in Transportation Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation. • Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled. • Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Artificial Intelligence in Transportation market are also profiled. Research Methodology: Bloomberg, Factiva, and Hoovers are some of the sites that are being referred to gain insights about Artificial Intelligence in the Transportation market. Experts from top manufacturing companies along with other stakeholders have been considered. This is done to validate and collect critical information for evaluating trends related to this market during the forecast period. Top-down and bottom-up approaches have been used to estimate the global and regional size of this market. Data triangulation techniques along with other comparative analysis are also used to calculate the exact size of the Artificial Intelligence in Transportation market globally.
Some of the major players including original equipment manufacturers (OEMs), tier-1 suppliers, and software suppliers operating in the Artificial Intelligence in Transportation market are as follows:
• Continental (Germany) • Bosch (Germany) • NVIDIA (US) • Microsoft (US) • Volvo (Sweden) • Daimler (Germany) • Scania (Sweden) • Paccar (US) • Man (Germany) • Valeo (France) Key Target Audience • Artificial intelligence hardware and software suppliers • Automotive OEMs • Industry associations and connected vehicle systems manufacturers • Artificial intelligence service or solution providers • Government’s national and regional environmental regulatory agencies or organizations • The automobile industry and related end-user industries Years considered to estimate the market size of the Artificial Intelligence in Transportation market have been mentioned below: • Base year-2016 • Estimated year-2017 • Forecast year- 2017 to 2026
Scope of the Report:
This research report segments the artificial intelligence in the transportation market based on application, offering, machine learning technology, process, and geography.
Artificial Intelligence in Transportation Market, By Application :
• Autonomous Trucks • HMI In Trucks • Semi-Autonomous Trucks
Artificial Intelligence in Transportation Market, By Offering :
• Hardware • Software
Artificial Intelligence in Transportation Market, By Machine Learning Technology :
• Deep Learning • Computer Vision • Context Awareness • Natural Language Processing (NLP)
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Report Published by: Maximize Market Research
