AI in Transportation Market is predicted to reach USD 6,118.7 million at a CAGR of 14.3% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global AI in Transportation Market”.

The AI in Transportation market is estimated to register a CAGR of 14.3% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global AI in Transportation market— Siemens Mobility, Nvidia Corporation, NEC Corporation, Huawei Technologies Co. Ltd, Valeo, Daimler AG, Scania, Continental AG, Magna International Inc., Intel Corporation, IBM Corporation, AB Volvo, Microsoft, Robert Bosch GmbH, and ZF Friedrichshafen AG.

Market Highlights

The global AI in Transportation market is accounted for to register a CAGR of 14.3% during the forecast period and is estimated to reach USD 6,118.7 million by 2032.

Artificial Intelligence (AI) is termed as one of the emerging fields transforming the transport sector. In recent years, AI has made a lot of progress, as machine learning techniques have been combined with technologies used to search and analyze the large quantities of data produced by the development of the digital world. The successful growth of AI can be attributed to the continuous development of communications networks and the Internet of Things, and the advancements in transport devices. AI can make traffic more efficient, ease traffic congestion, free driver's time, make parking easier, and encourage car and ridesharing. As AI helps keep road traffic flowing, it can also reduce fuel consumption caused by vehicles idling when stationary and improve air quality and urban planning.

Access full report @ https://www.marketresearchfuture.com/reports/ai-in-transportation-market-6673

Segment Analysis

The global AI in Transportation market has been segmented based on Offering, IoT Communication Technology, Application Areas, Machine Learning Technology.

Based on Offering, the global AI in Transportation market segmentation includes (Hardware {CPU, GPU, Sensors, Others}, Services, Software {AI Platforms, AI Solutions}). Hardware will be the majority share in 2022, contributing around 48.2% to the market revenue.

Based on the IoT Communication Technology, the global AI in Transportation market segmentation is Cellular, LPWAN, LoRaWAN, Z-Wave, Zigbee, NFC, Bluetooth, Others. Cellular dominated the market in 2022.

Based on Application, the global AI in Transportation market segmentation includes Autonomous Truck, Semi-autonomous Truck, Truck Platooning, Human-Machine Interface (HMI), Predictive Maintenance, Precision & Mapping, Traffic Detection, Computer Vision-Powered Parking Management, Road Condition Monitoring, Automatic Traffic Incident Detection, Driver Monitoring, Others. The Predictive Maintenance held the majority share in 2022.

Based on Machine Learning Technology, the global AI in Transportation market segmentation includes Deep Learning, Computer Vision, Natural Language Processing, Context Awareness. Computer Vision segment dominates the market in 2022 contributing 33.7% of total market share.

Regional Analysis

By Region, the study provides market insights into North America, Europe, Asia-Pacific, Middle East and Africa and South America. The North America AI in Transportation market accounted for ~39.8% in 2022. North America is likely to be the largest contributor to the AI transportation market. This includes the US, Canada, and Mexico. Some of the factors responsible for the growth of the market include the rising need for enhanced operational efficiency and increasing adoption to enhance driver and vehicle. Moreover, the presence of established players such as Intel Corporation, Microsoft Corporation, IBM Corporation, Magna International Inc. is one of the factors driving the growth of the regional market.

Key Findings of the Study

• The global AI in Transportation market is expected to reach USD 6,118.7 million by 2032, at a CAGR of 14.3% during the forecast period.


• The North America region accounted for the fastest-growing global market


• Siemens Mobility, Nvidia Corporation, NEC Corporation, Huawei Technologies Co. Ltd, Valeo, Daimler AG, Scania, Continental AG, Magna International Inc., Intel Corporation, IBM Corporation, AB Volvo, Microsoft, Robert Bosch GmbH, and ZF Friedrichshafen AG.