AI in Transportation Market Outlook 2018 by Key Players, Industry Trends and Size, Forecast Analysis by 2023
AI in Transportation Market Research Report by Offerings (Hardware, Software), IoT communication Technologies (LTE, 5G, and LPWAN)
(firmenpresse) - Market Highlights
According to Market Research Future (MRFR)’s recently published report, the global AI in transportation market is expected to expand at 18.03% CAGR during the forecast period 2017 to 2023. It has been estimated that the valuation of the market will grow from USD 1.2 Bn in 2017 to USD 3.07 Bn by the end of 2023. The strong value maintained by the transportation industry has paved the way for the swift adoption of AI. The rising need for vehicle and driver safety due to increasing road accidents have catalyzed the demand for AI in transportation. Additionally, the developed country-level markets have already started the production of autonomous cars, which is projected to have a positive influence on the market growth.
Increasing adoption of AI in the transportation sector is highly supported by the governments of developed economies. In addition, the developing nations are also inclining towards the adoption of AI technology in the transportation industry. These factors are presumed to augment the AI in transportation industry in the upcoming years. In addition, the utilization of the technology ensures smooth flow of traffic. Increasing road traffic problems over the world is anticipated to drive the expansion of the AI in transportation market in the near future. The sales of automobiles are projected to further increase, which is prognosticated to catapult the AI in transportation market on upward trajectory. Furthermore, AI is expected to find applications in aviation and railways. Rising tourism industry is also forecasted to impact the market greatly. The growing amount of air traffic is anticipated to lead the AI in transportation market growth in the foreseeable future. Technological innovations are further projected to influence the AI in transportation market greatly.
Segmentation:
On the basis of offerings, the AI in transportation market has been divided into hardware and software. The sub-segments of the software segment are AI platforms and AI solutions. The sub-segmentation of the hardware segment covers sensors, GPUs, CPUs, and others.
Based on IoT communications technology, the AI in transportation market has been segmented into 5G, LTE, and LPWAN.
On the basis of machine learning technology, the AI in transportation market has been segmented into deep learning, natural language processing, computer vision, and context awareness.
Based on application, the AI in transportation market has been segmented into autonomous truck, precision and mapping, semi-autonomous trucks, human-machine interface (HMI), truck platooning, predictive maintenance, and others (driverless buses and smart traffic management).
Regional Analysis
The global market for AI in transportation, by region, has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is currently leading the global market and is projected to retain its prominence over the next couple of years. The presence of prominent country-level markets and key players are supposed to have a favorable impact on the growth of the market.
Additionally, the region is a pioneer in technological advancements and is well-equipped for the adoption of AI technology in transportation. All these factors are projected to combinedly boost the expansion of the regional market over the assessment period. Meanwhile, the market in Europe exhibits immense potential for growth and development. It is expected to register the highest CAGR during the forecast period. The adoption of autonomous cars, high economic growth rate, thriving automotive sector, etc. are projected to catapult the market on an upward trajectory.
Competitive Dashboard
AG, NVIDIA Corporation, Robert Bosch GmbH, Microsoft Corporation, Daimler AG, Volvo Group, Scania Group, Magna International Inc, ZF Friedrichshafen AG, MAN SEPACCAR Inc., Valeo SA, Alphabet Inc., Intel Corporation, and IBM Corporation are the key holders of the AI in transportation market share.
Browse Complete Report (at) https://www.marketresearchfuture.com/reports/ai-in-transportation-market-6673
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