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Rising demand for safety and security in transportation and efficient traffic management are key factors influencing market growth.
VANCOUVER, BC, CANADA, May 8, 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. AI helps in streamlining traffic patterns through real-time tracking and intelligent traffic light algorithms, thereby enabling smooth traffic flow, which significantly improves various aspects in transportation. Besides, AI helps in decreasing fuel consumption and exhaust emissions, which would otherwise be higher in a normal setting as a result of numerous vehicles moving slowly during a traffic jam or congestion.
The researchers have considered all the factors influencing the growth of the Artificial Intelligence in Transportation Market on the global and regional scale. The report considers the COVID-19 pandemic as one of the key influencing factors of the Artificial Intelligence in Transportation Market. The pandemic has disrupted the supply chains and economic scenario of the market and has hindered the growth of the market. The report discusses in detail the overall impact of the COVID-19 pandemic on the Artificial Intelligence in Transportation Market and its key segments. The report also offers a current and future impact of the COVID-19 pandemic on the market.
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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.
Furthermore, the report provides details about the new players entering the market, entry-level barriers and offers strategic recommendations to overcome those barriers to gain a substantial industry presence.
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Key Players operating in the Artificial Intelligence in Transportation Market industry are:
Daimler AG, Continental AG, Robert Bosch GmbH, VOLVO, PACCAR Inc., Magna International Inc., ZF Friedrichshafen AG, Scania AB, Valeo, and MAN SE.
The Global Artificial Intelligence in Transportation Market is further analyzed across the key geographical locations where the market has expanded to a significant size. The key region analyzed are North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report offers a country-wise analysis to provide a comprehensive analysis of the Artificial Intelligence in Transportation Market in terms of production and consumption patterns, supply and demand ratio, import/export, revenue contribution, trends, and presence of prominent players in each region.
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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
Regional Analysis Covers:
• North America (U.S., Canada)
• Europe (U.K., Italy, Germany, France, Rest of EU)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The all-inclusive report on the Global Artificial Intelligence in Transportation Market added by Emergen Research demonstrates that the global Artificial Intelligence in Transportation Market is presumed to grow at a steady CAGR throughout the forecast timeline. The report analyzed the key market drivers, restraints, growth opportunities, investment opportunities, threats, and limitations of the Artificial Intelligence in Transportation Market. The report also offers accurate forecast estimation at a global and regional level to impart a better understanding of the scope of the market.
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Radical Features of the Artificial Intelligence in Transportation Market Report:
• The report encompasses Artificial Intelligence in Transportation Market overview along with market share, demand and supply ratio, production and consumption patterns, supply chain analysis, and other ley elements
• An in-depth analysis of the different approaches and procedures undertaken by the key players to conduct business efficiently
• Offers insights into production and manufacturing value, products and services offered in the market, and fruitful information about investment strategies
• Supply chain analysis along with technological advancements offered in the report
• The report covers extensive analysis of the trends, drivers, restraints, limitations, threats, and growth opportunities in the Artificial Intelligence in Transportation Market industry
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