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Global Artificial Intelligence in Transportation Market - Industry Insights by Machine Learning Technology (Computer Vision, Deep Learning, Context Awareness, and Natural Language Processing)
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On the basis of machine learning technology, the artificial intelligence in transportation market is subdivided into computer vision, deep learning, context awareness, and natural language processing. Of all machine learning technology, deep learning segment accounted the largest share and is expected to grow at the fastest rate in the market, as it is extensively used in the advancement of autonomous vehicles, which demand to see, drive, think and learn.
On the basis of process, the artificial intelligence in transportation market is subdivided into data mining, signal recognition, and image recognition. Of all the process, the data mining segment is expected to grow at the fastest rate in the market due to the mounting requirement for prognostic maintenance in transportation industry, mounting impact of artificial intelligence in car safety and infotainment, and demanding additional data of images and signals to be managed and analyzed. In addition, signal recognition segment accounted for the largest share in the market, as signals in the form of text, gestures, mapping, tracking, etc. are progressively used in several safety applications.
On the basis of application, the market is subdivided into autonomous trucks, semi-autonomous trucks and HMI in the truck. Among all applications, the autonomous trucks are expected to grow at the fastest rate and accounted the largest share in the artificial intelligence in transportation market.
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On the basis of the offering, the market is subdivided into hardware and software. Among all offering, the software accounted the largest share in the artificial intelligence in transportation market due to machine translation, object recognition and demand for progression in the areas of object perception.
The high cost of artificial intelligence systems and infrastructure cost are the major challenges for the growth of artificial intelligence in transportation market. In addition, machine learning is data driven and cybersecurity and data privacy are also hindering the growth of the market.
Geographically, North America is the largest artificial intelligence in transportation market due to the high level of funding from the government. In addition, the region is home to leading technology companies, shortage of truck drivers and stringent government regulations for road safety are also facilitating the growth of the North American market.
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In Addition, Asia-Pacific is observed to witness the fastest growth in the market due to a steadily growing population. In addition, robust economic growth, the shift of unorganized third-party logistics sector to organized sector and growing logistics and supply chain sector are also up surging growth of the Asia-Pacific artificial intelligence in the transportation market.
Key players in the artificial intelligence in transportation market are catering to the demand by collaborating, and acquiring with small players and investing in technologically advanced EVs across the globe. In February 2018, NVIDIA partnered with Continental, to create AI self-driving vehicle systems constructed on the NVIDIA DRIVE platform and have planned the market introduction of the vehicle in 2021. Volvo Group, Scania Group, Man SE, Daimler AG, PACCAR Inc., Magna, Robert Bosch GmbH, Continental AG, Valeo SA, Alphabet Inc, NVIDIA, Microsoft Corporation, ZF Friedrichshafen AG and Intel Corporation are the key players offering artificial intelligence in transportation.
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