Artificial Intelligence in Transportation
TheĀ artificial intelligence in transportation marketĀ is projected to grow at a CAGR of 17.87% during the forecast period, and the market size is expected to grow from USD 1.21 Billion in 2017 to USD 10.30 Billion by 2030.
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Objectives of theĀ Artificial Intelligence in Transportation Market Report
- To define, segment, and forecast the artificial intelligence in transportation market (2017ā2030), in terms of value (USD million)
- To define, describe, and project the market, by application (autonomous trucks, HMI in trucks, and semi-autonomous trucks) at country level
- To define, describe, and project the artificial intelligence in transportation market, by offering, by process, and by machine learning technology in regions, namely, Asia Oceania, Europe, North America, and the Rest of the World (RoW)
- To define, describe, and project the truck platooning market for artificial intelligence, in terms of volume (ā000 units) and value (USD million)
- To provide a detailed analysis of various forces acting in the market (drivers, restraints, opportunities, and challenges)
- To analyze the competitive landscape which includes recent developments (new product developments, expansion, mergers & acquisitions, supply contracts/joint ventures) by the OEMs, software/solution providers, Tier-1 companies, and startups
Research Methodology
The research methodology used in the report involves primary and secondary sources and follows a top-down approach for data triangulation. The study involves the study of country-level regulations related to autonomous driving and analysis of different applications considered for artificial intelligence in transportation (autonomous trucks, HMI in trucks, and semi-autonomous trucks). This analysis involves historical trends as well as existing penetrations by country as well as application. The analysis is projected based on various factors such as government regulations, key developments, public acceptance, level of automation in that country, and adoption rate by OEMs. The analysis has been discussed and validated by primary respondents, which include experts from the artificial intelligence in transportation industry, AI professionals & consultants, and software & hardware suppliers. Secondary sources include associations such as Association for the Advancement of Artificial Intelligence (AAAI), European Coordinating Committee for Artificial Intelligence (ECCAI), artificial intelligence software & hardware suppliersā websites and annual reports, and paid databases and directories such as Factiva and Bloomberg.
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The figure given below illustrates the break-up of the profile of industry experts who participated in primary discussions.
Key Players of Artificial Intelligence in Transportation Market
The ecosystem of the artificial intelligence in transportation market consists of Tier I suppliers and software/service providers such as Continental (Germany), Bosch (Germany), NVIDIA (US), and Microsoft (US). These systems and technologies are supplied to automotive OEMs such as Volvo (Sweden), Daimler (Germany), and others.
Target Audience of Artificial Intelligence in Transportation Market
- Artificial intelligence hardware and software suppliers
- Raw material manufacturers of artificial intelligence system components
- Automotive OEMs
- Artificial intelligence service/solution providers
- Industry associations and connected vehicle systems manufacturers
- Governmentās national and regional environmental regulatory agencies or organizations
- The automobile industry and related end-user industries
Software segment is estimated to hold the largest share of the artificial intelligence in transportation market.
The software segment is estimated to hold the largest market share of the artificial intelligence in transportation market in 2017. In recent years, major developments have occurred in AI software solutions, platforms, and related software development kits. These developments have taken place due to the need for advancement in the areas of object perception, machine translation, and object recognition. Companies such as Alphabet (US), Microsoft (US), IBM (US), and Intel (US) are among the frontrunners in the development of AI software. All these companies are acquiring or investing heavily in start-ups to maintain a strong position in the artificial intelligence in transportation market. In March 2017, Intel (US) acquired Mobileye (Israel) for approximately USD 15 billion. Software for deep learning technology has a major share in the AI in transportation market. Therefore, the need for advancement in autonomous trucks has led to a large amount of funding for various start-ups in the North American region.
North America is estimated to be the leading market for artificial intelligence in transportation.
Transportation plays a significant role in the North American economy. According to American Trucker Association, there are 8.7 million truck-related jobs in the US, and the country still faces a shortage of truck drivers. Hence, major developments related to autonomous driving of trucks are taking place in this country. Additionally, incentives and high level of funding from the government plays a major role in the development of this technology. For instance, in 2016, the US government spent USD 4.00 billion to accelerate the acceptance of autonomous vehicles on US roads. Also, the Central North American Trade Corridor Association is planning to develop a driverless truck corridor from Mexico to Manitoba. Also, the region is home to leading technology companies such as Microsoft (US), Intel (US), and NVIDIA (US), which offer various AI technologies for vehicles in partnership with OEMs. Therefore, the North American region has a great potential for the growth of the artificial intelligence in transportation market.
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Source:Ā Artificial Intelligence in Transportation Market worth 10.30 Billion USD by 2030
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