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Artificial Intelligence in the Transportation Market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Artificial Intelligence in the Transportation Market by region.

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The global artificial intelligence in the transportation market size was US$ 1.45 billion in 2020. The global artificial intelligence in the transportation market is forecast to reach the value of US$ 17.9 billion by 2030 by growing at a compound annual growth rate (CAGR) of 18.5% during the forecast period from 2021-2030.

COVID-19 Impact Analysis

The COVID-19 outbreak has majorly affected the transportation industry mainly because of the shortage of laborers, raw materials, and decline in trade activities. Artificial Intelligence (AI) witnessed significant growth across various verticals. Artificial intelligence has helped the healthcare sector and scientists to track the pattern of the vaccine. However, the transportation sector witnessed a significant decline which hampered the growth of global artificial intelligence in the transportation market.

Factors Influencing

The stringent government regulation mainly to enhance vehicle safety and security would primarily contribute to the market growth. Moreover, the increasing adoption and demand for advanced driver assistance systems are forecast to drive market growth.

The global artificial intelligence in the transportation market would gain traction, owing to the growing demand for traffic management and increasing deployment of self-driving vehicles among the population.

Due to rising demand for enhanced logistics, the market players are forecast to witness various favorable opportunities.

Advancements in autonomous vehicles with the implementation of safety features, including collision warning, adaptive cruise control (ACC), advanced driver assistance system (ADAS), and lane-keep assist are forecast to fuel the market growth. These features reduce the risk associated with drug-impaired drivers.

The high cost associated with the implementation of artificial intelligence systems may hamper the growth of global artificial intelligence in the transportation market.

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Geographic Analysis

Geographically, North America is dominating the global artificial intelligence in the transportation market and is forecast to remain dominant in terms of revenue during the forecast period. It is due to the trending integration of self-driving vehicles and government funding to boost the safety of vehicles. In addition, the presence of prominent companies in the region is forecast to fuel the industry expansion in the coming years. Furthermore, the shortage of truck drivers and growing investment in autonomous trucks may create significant growth opportunities for the market players in the region.

The Asia-Pacific region is forecast to emerge as a rapidly growing region due to the increasing population and growing adoption of self-driving vehicles. Moreover, government policies pertaining to robust economic growth are propelling the growth of Asia-Pacific artificial intelligence in the transportation market.

Competitors in the Market

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

Intel Corporation

Other prominent players

Market Segmentation

By Application

Autonomous Trucks

HMI in Trucks

Semi-Autonomous Trucks

By Offering

Hardware

Software

By Machine Learning Technology

Deep Learning

Computer Vision

Context Awareness

Natural Language Processing

By Process

Signal Recognition

Object Recognition

Data Mining

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By Region

North America

The U.S.

Canada

Mexico

Europe

Western Europe

The UK

Germany

France

Italy

Spain

Rest of Western Europe

Eastern Europe

Poland

Russia

Rest of Eastern Europe

Asia Pacific

China

India

Japan

Australia & New Zealand

ASEAN

Rest of Asia Pacific

Middle East & Africa (MEA)

UAE

Saudi Arabia

South Africa

Rest of MEA

South America

Brazil

Argentina

Rest of South America

What is the goal of the report?The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.During the forecast period, the report analyzes the growth rate, market size, and market valuation.The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.

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Artificial Intelligence in the Transportation Market overview, With the Best Scope, Trends, Benefits, Opportunities to 2030 - Taiwan News