Press release
AI in Transportation Market Overview 2023-2032 Market Size, Growth Rate, Major Drivers And Key Segments
AI in Transportation Market
The Business Research Company's AI in Transportation Global Market Report 2023 identifies increasing number of road accidents as the major driver for the AI in Transportation market's growth in the forecast period. An accident is defined as a collision involving at least one vehicle on a public road that results in at least one person being hurt or killed. AI in transportation are used to control traffic congestion, improve traffic flow, and lower the likelihood of accidents. For instance, in September 2022, according to National Highway Traffic Safety Administration, an agency of the U.S. federal government, part of the Department of Transportation, an estimated 20,175 persons lost their lives in on road car accidents in the first half of 2022 in the US, a 0.5% increase from 2021.
The global AI in transportation market size is expected to grow from $2.72 billion in 2022 to $3.25 billion in 2023 at a compound annual growth rate (CAGR) of 19.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global AI in transportation market size is expected to reach $6.3 billion in 2027 at a CAGR of 18.2%.
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Major competitors in the AI in Transportation market are Volvo Car Corporation, Mercedes-Benz Group AG, Alphabet Inc, Intel Corporation, NVIDIA Corporation, Valeo SA, ZF Friedrichshafen AG, Continental AG
A key trend in the AI in Transportation market includes Technological advancements. Major companies operating in the AI in transportation market are adopting new technologies to sustain their position in the market. For instance, in March 2023, Alibaba Cloud, a Singapore-based provider of cloud computing services, launched EasyDispatch, an AI-driven logistics solution. It is uniquely designed with an Al-powered real-time service dispatch solution that improves supply chain management while reducing logistics costs. It provides high-accuracy address processing capability and field service dispatch capabilities. The solution provides high performance, stability, and high-speed access from any location.
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The AI in Transportation market is segmented -
•By Components: Hardware, Software
•By Process: Signal Recognition, Object Recognition, Data Mining
•By Technology Type: Natural Language Processing, Deep Learning, Computer Vision, Context-Awareness
•By Application: Semi-Autonomous Truck, Truck Platooning, Predictive Maintenance, Precision And Mapping, Autonomous Truck, Machine Human Interface, Other Applications
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the AI in Transportation market.
The Business Research Company's "Global AI in Transportation Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The AI in Transportation Market Include:
1. Executive Summary
2. AI in Transportation Market Characteristics
3. AI in Transportation Market Trends And Strategies
4. AI in Transportation Market - Macro Economic Scenario
5. AI in Transportation Market Size And Growth
...............
26. Africa AI in Transportation Market
27. AI in Transportation Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The AI in Transportation Market
29. AI in Transportation Market Future Outlook and Potential Analysis
30. Appendix
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