Press release
AI in Transportation Market Analysis, Size & Trends 2024-2033
AI in Transportation Market
According to The Business Research Company's, The ai in transportation market size has grown rapidly in recent years. It will grow from $3.25 billion in 2023 to $3.86 billion in 2024 at a compound annual growth rate (CAGR) of 18.6%. The growth in the historic period can be attributed to traffic management optimization, autonomous vehicles development, demand for intelligent public transportation, predictive maintenance for vehicles, rise in smart infrastructure.
The ai in transportation market size is expected to see rapid growth in the next few years. It will grow to $7.62 billion in 2028 at a compound annual growth rate (CAGR) of 18.5%. The growth in the forecast period can be attributed to expansion of electric and connected vehicles, integration of ai in urban mobility, focus on sustainable and smart cities, enhanced safety features, remote operations and monitoring. Major trends in the forecast period include advancements in ai algorithms and machine learning, government initiatives and regulations, autonomous vehicles advancements, predictive maintenance with ai, multimodal integration.
Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/ai-in-transportation-global-market-report
Market Drivers and Trends:
The growing number of vehicles is expected to propel the growth of the AI in transportation market going forward. The increase in the number of vehicles on the road can be attributed to several factors, including population growth, economic development, and the inadequacy of public transportation infrastructure. AI can be used to optimize traffic flow, reduce congestion, and minimize travel times by analyzing real-time traffic data and adjusting signal timings and lane configurations accordingly. For instance, in March 2023, according to an article published by Hedges & Company, a US-based automotive digital marketing company, the registered cars in the US increased by 0.9% from 286.9 million cars in 2020 to 289.5 million cars in 2021. Therefore, the growing number of vehicles is driving the growth of the AI in transportation market.
Major companies operating in the AI in transportation market are developing strategic partnerships to access valuable information and resources from other members, fostering innovation and the development of new technologies. Partnerships enable companies to pool their resources and expertise to develop innovative AI-driven transportation solutions. For instance, in October 2023, Amazon, a US-based E-commerce company, partnered with UVeye, a US-based automatic vehicle inspection provider to develop an AI-based technology called Automated Vehicle Inspection (AVI). This technology is designed to inspect delivery vans for anomalies such as tire deformities, undercarriage wear, and bent or warped body pieces. The AVI system performs a full-vehicle scan in a few seconds while the vehicle is rolling at 5 mph, identifies problems, classifies them based on severity, and immediately sends the results to a computer. The technology aims to improve the safety of Amazon's delivery fleet and reduce the reliance on manual inspections.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=10207&type=smp
Major Key Players of the Market:
Volvo AB; Mercedes-Benz Group AG; Alphabet Inc.; Intel Corporation; NVIDIA Corporation; Valeo SA; ZF Friedrichshafen AG; Continental AG; Magna International Inc.; Microsoft Corporation; PACCAR Inc.; Robert Bosch GmbH; Scania Group; Xevo Inc.; Zonar Systems Inc.; Daimler AG; Waymo LLC; Tesla Inc.; Uber Technologies Inc. ; Mobileye Global Inc.; Aptiv plc; TomTom N.V.; HERE Technologies; Siemens AG; Cisco Systems Inc.; IBM Corporation; Cognata Ltd.; Argo AI; Aurora Innovation Inc.; Zoox Inc.; Embark Technology Inc.; TuSimple Holdings Inc.; PlusAI Inc.
AI in Transportation Market 2024 Key Insights:
• The ai in transportation market size will grow to $7.62 billion in 2028 at a compound annual growth rate (CAGR) of 18.5%.
• Vehicles On The Rise Catalyzing AI Growth In The Transportation Sector
• Strategic Partnerships For Ai-Based Automated Vehicle Inspection
• North America was the largest region in the AI in transportation market in 2023
We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/Customise?id=10207&type=smp
Contact us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Latest Trending Press Releases: https://www.thebusinessresearchcompany.com/press-release.aspx
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release AI in Transportation Market Analysis, Size & Trends 2024-2033 here
News-ID: 3748208 • Views: …
More Releases from The Business research company
Pesticide And Other Agricultural Chemicals Industry Set to Achieve $156.05 Billi …
Get 30% off global market reports with code ONLINE30 and keep ahead of tariffs, macro trends, and worldwide economic developments.
What Is the Long-Term Growth Forecast for the Pesticide And Other Agricultural Chemicals Market Size 2025?
In recent years, the market size for pesticides and other agricultural chemicals has witnessed significant growth. From a value of $104.46 billion in 2024, it's projected to swell to $113.13 billion in 2025, reflecting a compound…
Organophosphates Pesticides Industry Expected to Reach $10.67 Billion by 2029 at …
Stay informed on tariff shifts, macro trends, and global economic changes-use code ONLINE30 to enjoy 30% off our global market reports.
Organophosphates Pesticides Market Value Projection: How Much Will the Market Size by 2025?
The market size of organophosphates pesticides has experienced consistent growth in the prior years. The market is projected to expand from $8.05 billion in 2024 to $8.41 billion in 2025, with a compound annual growth rate (CAGR) of…
Nitrobenzene Industry Growth Outlook: 7.5% CAGR and $15.35 Billion by 2029
Get 30% off global market reports with code ONLINE30 and keep ahead of tariffs, macro trends, and worldwide economic developments.
What Is the Long-Term Growth Forecast for the Nitrobenzene Market Size 2025?
In the past few years, the size of the nitrobenzene market has witnessed significant growth. It is projected to increase from $10.96 billion in 2024 to $11.51 billion in 2025, with a compound annual growth rate (CAGR) of 5.1%. The…
Nail Polish Market Analysis: $24.61 Billion by 2029 With a CAGR of 11.5%
Stay informed on tariff shifts, macro trends, and global economic changes-use code ONLINE30 to enjoy 30% off our global market reports.
Nail Polish Market Value Projection: How Much Will the Market Size by 2025?
The industry of nail polish has witnessed significant expansion in the past few years. Projected to surge from $14.39 billion in 2024 to $15.93 billion in 2025, it is expected to observe a compound annual growth rate (CAGR)…
More Releases for Transportation
Treks Transportation: Premium Transportation Charter Service for Every Need
Treks Transportation offers customized transportation charter services, providing flexibility, comfort, and convenience for business trips, personal travel, and special events with personalized itineraries and private travel experiences.
Transportation charter services have become essential for those seeking customized travel experiences. Whether for business, personal trips, or special events, these services offer unparalleled flexibility, comfort, and convenience. Treks Transportation's transportation charter service is designed to cater to various travel needs, from corporate events…
Barge Logistic Transportation Market Sets the Table for Continued Growth | Kirby …
The latest study released on the global 'Barge Logistic Transportation' market by AMA Research evaluates market size, trend, and forecast to 2030. The 'Barge Logistic Transportation' market study covers significant research data and proofs to be a handy resource document for managers, analysts, industry experts and other key people to have ready-to-access and self-analyzed study to help understand market trends, growth drivers, opportunities and upcoming challenges and about the competitors.
Get…
Barge Logistics Transportation Market is Booming Worldwide | Kirby, SEACOR, Bouc …
The latest study released on the Global Barge Logistics Transportation Market by AMA Research evaluates market size, trend, and forecast to 2028. The Barge Logistics Transportation market study covers significant research data and proofs to be a handy resource document for managers, analysts, industry experts and other key people to have ready-to-access and self-analyzed study to help understand market trends, growth drivers, opportunities and upcoming challenges and about the competitors.
Download…
Air Transportation Market 2028 by Transportation Type, Transportation Mode and G …
Global Air Transportation Market 2028 Report give our customers an exhaustive and top to bottom examination of Air Transportation market alongside its key factors, for example, market diagram and rundown, pieces of the pie, restrictions, drivers, local examination, players, serious elements, division, and considerably more. The Air Transportation Market information introduced inside this report is acquired dependent on a few strategies, for example, PESTLE, Porter's Five, SWOT examination, the effect…
Student Transportation Service Market Is Booming Worldwide | Dean Transportation …
Student Transportation Service Market: The extensive research on Student Transportation Service Market, by Qurate Research is a clear representation on all the essential factors that are expected to drive the market considerably. Thorough study on Student Transportation Service Market helps the buyers of the report, customers, the stakeholders, business owners, and stockholders to understand the market in detail. The updated research report comprises key information on the market, such as…
Student Transportation Service Market | Global and Regional Analysis and Forecas …
Student Transportation Service Market describes an in-depth evaluation and Covid19 Outbreak study on the present and future state of the Student Transportation Service market across the globe, including valuable facts and figures. Student Transportation Service Market provides information regarding the emerging opportunities in the market & the market drivers, trends & upcoming technologies that will boost these growth trends. The report provides a comprehensive overview including Definitions, Scope, Application, Production…
