Artificial Intelligence In Transportation Market Size, Share, Industry Analysis, Growth, 2032

Artificial Intelligence In Transportation Market Insights

Zion Market Research has published a report on the global Artificial Intelligence In Transportation Market, estimating its value at USD 2.20 Billion in 2023, with projections indicating that it will reach USD 11.38 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 17.9% over the forecast period 2024-2032. The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Artificial Intelligence In Transportation Market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

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The report offers a valuation and analysis of the Artificial Intelligence In Transportation market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, limitations, sales estimates, avenues, current & emerging trends, and industry-validated market data. The report offers historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on value (USD Billion).

Artificial Intelligence in Transportation Market: Overview

AI has the ability to ease traffic jamming, lessen of time of commuters, and prompt ridesharing activities and hence it has been used in the transport sector. In addition to this, the transport ecosystem embedded with AI has the ability to harness data power, manage congestion, support air traffic control, and facilitate dynamic decision-making activities. Massive need for user-controlled mobility solutions, intelligent transport networks, and automation & safety of transport activities will drive market trends.

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Artificial Intelligence in Transportation Market: Growth Factors

Escalating the need for security as well as a huge focus on reducing operational costs of transport activities will prompt the expansion of artificial intelligence in transportation industry over the coming years. Apart from this, the humungous utility of self-driven and semi-autonomous automobiles will steer the growth of artificial intelligence in transportation market during the forecast timespan. The rise in the use of electric scooters, electric cars, and dockless bicycles will not only boost the transportation market growth but will pave the way for massive utilization of artificial intelligence in transportation industry over the upcoming years. The need for reducing vehicular collisions and increasing the efficiency of ADAS systems in vehicles will proliferate business growth over the assessment timeline.  

Furthermore, the requirement of controlling fuel emissions along with maintaining the speed as well as lane discipline of vehicles will spearhead the use of artificial intelligence in transportation industry. The thriving smart mobility industry and the need for reducing the cost of transportation for passengers as well as for firms involved in the transport & logistics business will spur the market size over the ensuing years.

The need to improve traffic management operations along with the need for reducing the waiting time of passengers will create huge scope of growth for artificial intelligence in transportation industry. The massive necessity of improving the traveling experience as well as providing comfort to passengers during travel will translate into an elevated surge in the utility of artificial intelligence in transportation industry in the coming decade. AI data-based models help in accurately forecasting weather changes and their use in vehicles will help travelers in predicting the fluctuations in climate. This will enhance the use of AI in transport services.

Artificial Intelligence In Transportation Market: Report Scope

Artificial Intelligence In Transportation Market: Regional Landscape

North American Market To Witness Scalable Growth By 2032

The growth of artificial intelligence in transportation market over the assessment period is owing to the strong financial status of the giant transport & logistics firms based in the countries like the U.S. In addition to this, the implementation of strict government norms pertaining to road safety along with the presence of giant tech firms in the sub-continent will prompt the business growth in North America over the assessment period. Apparently, the rise in the sale of commercial vehicles in the U.S. will culminate in a huge regional market surge over the forecast timeframe.

Artificial Intelligence In Transportation Market: Competitive Space

Key players profiled in the study include

• Volvo
• Daimler
• Scania
• Bosch
• Intel
• NVIDIA.

The global Artificial Intelligence In Transportation Market is segmented as follows:

By Application:

• HMI
• ADAS

By Technology:

• Machine Learning
• Computer Vision
• Context Awareness
• NLP
• Deep Learning

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa