Global Artificial Intelligence In Transportation Market Size By Offering(Hardware and Software), By Machine Learning Technology(Deep Learning, Computer Vision, Context Awareness), By Geographic Scope And Forecast

Artificial Intelligence in Transportation Market Size And Forecast

Artificial Intelligence in Transportation Market size was valued at USD 2.83 Billion in 2022 and is projected to reach USD 14.93 Billion by 2030, growing at a CAGR of 23.10% from 2023 to 2030.

The increased adoption of road safety measures across different automobiles is the primary cause of the growing need for the application of artificial intelligence technologies in the transportation sector. The Global Artificial Intelligence in Transportation Market report provides a holistic evaluation of the market. The report offers comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Artificial Intelligence in Transportation Market Definition

So, basically, the brains behind self-driving cars? It's all artificial intelligence. It's really the only way to get those cars to "see" and react to everything around them in real-time. That's why the market for AI in transportation is expected to blow up. Using AI helps make these cars way more efficient, and car companies are all over it. The catch? Our current roads and systems aren't really set up to handle all this fancy technology yet, which makes using AI for transportation tricky. Honestly, in a lot of places, you just don't see AI-powered cars. Sure, the features are amazing, but not many cars actually have them. Most modern cars just aren't there yet. But, get thiseveryone in developed countries suddenly wants a self-driving car! That growing demand will probably push for more AI, mainly to keep drivers and passengers safe.

Carmakers are constantly tinkering and experimenting – you know, good old R&D – to get AI into your everyday car. But, man, the industry's been through the wringer lately. A huge mess-up in how things worked, plus a serious downturn, meant tough times. Nobody was buying cars! And factories? Shut down. No workers, no parts. They make all sorts of AI-powered vehicles, from trucks to sedans, you name it. But adding AI is pricey, so when the pandemic hit, people weren't exactly rushing out to get it. All that stuff really slowed down how the market was growing.

Global Artificial Intelligence in Transportation Market Overview

Hey, so you know how cars are getting safer and safer? Well, that's actually driving the need for artificial intelligence in how we get around! And get thisall those government rules making certain safety features mandatory are only going to make the market for AI in transportation even bigger. Plus, with driverless cars becoming a thing, the demand for AI is just going through the roof. Let's face it, there are way too many accidents and, sadly, fatalities on the roads. Using AI in our cars can really help cut down on human error, which is behind a huge chunk of those accidents. Seriously, traffic accidents are a major killer worldwide. That's why governments everywhere are pushing for this technology and trying to get the word out to keep us all, passengers and drivers alike, a little safer.

This device increases the effectiveness of the driver by broadcasting warnings on crash-prone locations and by providing updates on significant signs and impending highways. In developed regions, where demand for autonomous vehicles is highest, these vehicles come equipped with artificial intelligence technology. These cars are popular among consumers because they offer more safety. The need for these vehicles is expanding, particularly among the aging population. The use of artificial technology also helps in predictive maintenance which ensures warning before the breakdown of the car.

As governments worldwide put the pedal to the metal on rules and laws to curb car-related carbon emissions, expect to see a big jump in the use of AI in transportation. AI is already helping cars sip fuel more efficiently, making it a key player in the fight to lower those emissions. Plus, with government initiatives backing the tech and these helpful regulations in place, the market is poised for growth. Think less traffic and quicker routes – that extra support is just icing on the cake and will likely drive even more demand for AI-powered transportation solutions.

Global Artificial Intelligence in Transportation MarketSegmentation Analysis

The Global Artificial Intelligence in Transportation Market is segmented based on Offering, Machine Learning Technology, and Geography.

Artificial Intelligence in Transportation Market, By Offering

• Hardware• Software

Based on Offering, the market is bifurcated into Hardware and Software. In 2022, software solutions dominated the market and generated more than 37% of worldwide revenue. This large percentage can be attributed to sensible improvements in data storage capacity, powerful computing, and parallel processing capabilities to provide high-end services. Furthermore, this market sector is well-positioned to take the largest share of the market due to its capacity to extract data, offer real-time insight, and support decision-making.

Artificial Intelligence in Transportation Market by Machine Learning Technology

• Deep Learning• Computer Vision• Context Awareness• Natural Language Processing

Based on Machine Learning Technology, the market is bifurcated into Deep Learning, Computer Vision, Context Awareness, and Natural Language Processing. In 2022, the deep learning market category held the top spot and was responsible for over 36.8% of worldwide revenue. As deep learning aids in overcoming the difficulties associated with large amounts of data, it presents profitable investment prospects.

Artificial Intelligence in Transportation Market by Geography

• North America• Europe• Asia Pacific• Rest of the world

On the basis of a Geographical Analysis, the Global Artificial Intelligence in Transportation Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. In 2022, North America dominated the market and took home more than 37.1% of worldwide revenue. This high adoption rate of artificial intelligence (AI) across numerous industries is a result of successful government initiatives.

Key Developments

• In April 2020Advanced Micro Devices announced a strategic alliance with Oxide Interactive LLC, a video game developer company, to develop graphics technologies for the cloud gaming market space. Both companies have planned to create a set of tools & techniques to address the real-time demands of cloud-based gaming.

Key Players

The “Artificial Intelligence in Transportation Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Continental, Magna, Bosch, Valeo, ZF, Scania, Paccar, Volvo, Daimler, Nvidia, Alphabet, Intel, Microsoft and others are prominent hydro turbine manufacturers operating in the market.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Artificial Intelligence in Transportation Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Artificial Intelligence in Transportation Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

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