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Rising demand for safety and security in transportation and efficient traffic management are key factors influencing market growth.
VANCOUER, BC, CANADA, July 13, 2022 /EINPresswire.com/ -- The global Artificial Intelligence in transportation market size is expected to reach USD 7,065.1 Million in 2028 and register a robust CAGR over the forecast period, according to latest analysis by Emergen Research. Steady revenue growth of the Artificial Intelligence in transportation market can be attributed to rising demand for safety and security in transportation and logistics and increasing deployment of more advanced traffic management solutions. Artificial Intelligence (AI) in transportation is used to gather traffic data to decrease traffic congestion and enhance public transport scheduling.
The latest industry intelligence report on the Artificial intelligence in transportation market performs a cautious examination of the current business environment and competitive landscape of the Artificial intelligence in transportation market for the forecast period, 2020 - 2028. Importantly, the study not only helps spot the major vendors but also their winning strategies. The real-time data accumulated through qualitative and quantitative research technique further help business owners determine where they stand in comparison to their region, country, and product category.
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Artificial Intelligence is a fast-emerging technology that integrates human intelligence into machines to automate and streamline manual tasks. While the potentially disruptive technology is revolutionizing industries like education, healthcare, banking & financial services, and retail & manufacturing, the transportation industry is no longer an exception. AI is rapidly transforming the transportation sector, making all modes of transport smarter and more efficient. Some of the latest trends of AI in transportation include warehouse automation, autonomous/self-driving vehicles, predictive analytics, pedestrian safety & traffic management, AI & machine learning in logistics, and smart roads.
List of Top Key Companies Profiled in the Artificial intelligence in transportation market Daimler AG, Continental AG, Robert Bosch GmbH, VOLVO, PACCAR Inc., Magna International Inc., ZF Friedrichshafen AG, Scania AB, Valeo, and MAN SE.
For statistical analysis study on Artificial Intelligence in Transportation market research report, Download Report Summary
The report is updated with the latest economic scenario and market scope with regard to the ongoing COVID-19 pandemic. The report covers growth prospects as well as current and futuristic revenue estimations in a post COVID scenario. The report also covers changing trends and market dynamics due to the pandemic and provides an accurate impact analysis of the crisis on the overall market.
Some Key Highlights in the Report :
In October 2020, Daimler Trucks entered into a partnership agreement with Waymo for deployment of autonomous SAE L4 technology. The partnership is intended to combine the automated driver technology of Waymo with a cutting-edge version of Freightliner Cascadia of Daimler for autonomous driving.
Signal recognition segment accounted for largest revenue share in 2020. Signal recognition and processing is used in intelligent transportation systems, which comprise technologies deployed in roadways and vehicles for management and enhancement of traffic flow. Signal recognition-based systems are used for detection of vehicles as they approach an intersection, thereby enabling traffic control systems to regulate traffic lights when needed.
Computer vision finds widespread use in traffic management systems. It aids in maintaining a steady traffic flow, leading to fewer congestions. Computer vision is also used in smart cities in the functioning of ambient light detectors in streetlights.
The Artificial Intelligence in transportation market in Asia Pacific is expected to register the fastest revenue growth rate as compared to other regional markets over the forecast period, owing to rapid growth of the transportation sector, rising sales of heavy commercial vehicles, and increasing use of AI in transportation, traffic management, and logistics.
Emergen Research has segmented the global Artificial Intelligence in transportation market in terms of process, learning technology, application, and region:
Process Outlook (Revenue, USD Million; 2021–2028)
Signal Recognition
Object Recognition
Data Mining
Learning Technology Outlook (Revenue, USD Million; 2021–2028)
Deep Learning
Context Awareness
Computer Vision
Natural Language Processing
Application Outlook (Revenue, USD Million; 2021–2028)
Autonomous Trucks
HMI Trucks
Semi-autonomous Trucks
Browse Detailed Summary of Research Report with TOC @ https://www.emergenresearch.com/industry-report/artificial-intelligence-in-transportation-market
Key regions covered in the report:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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Extensive market scope covering all major offerings in the ecosystem
In-depth analysis for all the countries covered in each report
Current and upcoming trends impact analysis
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Latest Technological Developments
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Some of the key questions answered in this report:
What is the global (North America, Europe, Asia-Pacific, South America, Middle East and Africa) sales value, production value, consumption value, import and export of Artificial intelligence in transportation market ?
Who are the global key manufacturers of the Artificial intelligence in transportation market ? How is their operating situation (capacity, production, sales, price, cost, gross, and revenue)?
What are the Artificial intelligence in transportation market opportunities and threats faced by the vendors in the global Artificial intelligence in transportation market ?
Which application/end-user or product type may seek incremental growth prospects? What is the market share of each type and application?
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