ID: MRFR/ICT/5210-HCR | February 2021 | Region: Global | 100 pages
Market Research Future (MRFR)’s latest report projects that the global AI in transportation market is poised to expand at 18.03% CAGR during the forecast period 2017 to 2023. The valuation of the market is prognosticated to witness a growth of USD 1.87 Bn from 2017 to 2023-end. AI is the next big technological innovation which is forecasted to revolutionize the transportation industry. The adoption of AI in transportation is predicted to enhance driver and vehicle safety. This is likely to drive the growth of the market in the forthcoming years as around 1.3 million deaths occur in road accidents every year.
Freight transport sector is crucial to the economic growth of a region. The intensified need for its enhanced operational efficiency has further paved the way for the integration of AI into the transportation sector. Additionally, the rising application of AI in railway cargo transportation has opened new avenues for growth opportunities. However, the expensiveness of AI hardware and systems remains an impediment to the market growth.
This report offers an unbiased commentary on the competitive landscape of the AI in transportation market. A revenue analysis of the offerings is included in the report which covers hardware (sensors, CPUs, GPUs, others) and software (AI Platforms, AI Solutions). The segmental evaluation of the market on the basis of IoT communication technologies encompasses LTE, 5G, and LPWAN. An in-depth study of the market, by machine learning technology, includes deep learning, computer vision, natural language processing, and context awareness. The key applications identified for a comprehensive analysis are autonomous truck, semi-autonomous trucks, truck platooning, human-machine interface (HMI), predictive maintenance, precision and mapping, and others (driverless buses, smart traffic management). Furthermore, the regional analysis of the global market covers North America, Europe, Asia Pacific, and the Rest of the World.
Some of the key players operating in the market are Continental AG, Robert Bosch GmbH, NVIDIA Corporation, Microsoft Corporation, Volvo Group, Daimler AG, Scania Group, MAN SEPACCAR Inc., ZF Friedrichshafen AG, Valeo SA, Intel Corporation, Alphabet Inc., Magna International Inc, and IBM Corporation.
MRFR employs cutting-edge analytical algorithms for drawing informative insights into the market. A qualitative and quantitative assessment of the key market dynamics facilitates extrapolation of the next growth trajectory for our clients. The reliability of the statistical findings is authenticated by the points of references referred for primary and secondary research. A multi-layer verification process affirms the excellence and precision of the data mapping in market spaces. Furthermore, top-down and bottom-up approaches validate and re-validate the accuracy of the market size and value estimation.
By IoT Communication Technologies
By Machine Learning Technology
Frequently Asked Questions (FAQ) :
The growth rate attained by the market in the coming years can be 18.03%.
The market size by 2023 end is estimated to be USD 1.87 Bn.
The significant players in the worldwide market are Alphabet Inc., Intel Corporation, IBM Corporation, Volvo Group, NVIDIA Corporation, MAN SEPACCAR Inc., Valeo SA, Microsoft Corporation, Daimler AG, Scania Group, ZF Friedrichshafen AG, Robert Bosch GmbH, Continental AG, Magna International Inc, among others.
The types of offering analyzed in the report are hardware and software.
The prominent IoT Communication Technologies are LTE, 5G and LPWAN among others.