Press release
Artificial Intelligence in Military Market: Booming Growth and Emerging Trends
Artificial Intelligence in Military Market
Harness the Potential of AI in Transportation: Expect Boom in Market Size and See Striking Trends
What Is The Projected Market Size Of The Global Artificial Intelligence in Transportation Market And Its Growth Rate?
The global Artificial Intelligence in Transportation Market has witnessed accelerated growth and is expected to continue this trend:
• 2024 Market Size: $3.63 billion
• 2025 Market Size: $4.29 billion (CAGR 18.2%)
• 2029 Market Size: $9.17 billion (CAGR 20.9%)
The dramatic growth can be credited to the use of AI in various applications in the transportation sector for improved safety and efficiency.
What Is Driving The Growth in The Artificial Intelligence in Transportation Market?
The surge in demand for autonomous vehicles is expected to fuel the growth of artificial intelligence in the transportation market. Autonomous vehicles, powered by artificial intelligence to operate and perceive obstacles, are becoming commonplace. For example, according to a report by the Victoria Transport Policy Institute, half of the new vehicles may be autonomous by 2045 and half of the overall vehicle fleet by 2060, reinforcing the argument that the demand for autonomous vehicles will bolster the AI in transportation market.
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Who Are the Key Players Impelling Artificial Intelligence in Transportation Market Growth?
Key players enhancing the growth of AI in transportation market include:
• The Volvo Group
• Mercedes-Benz Group AG
• Scania AB
• Peloton Interactive Inc.
• Valeo SA
• Xevo Inc.
• Nvidia Corporation
• Intel Corporation and many more.
What Are The Fervent Trends In The Artificial Intelligence in Transportation Market?
The ongoing trends in the market comprise:
• AI-powered Mobility-as-a-service (MAAS) platforms
• Emphasis on explainable AI for transparency in decision-making
• AI for personalized and adaptive in-vehicle experiences
• Customized AI solutions for specific transportation modes and industries.
What Are The Segments Of The Global Artificial Intelligence in Transportation Market?
The market is segmented into:
• By Offering: Hardware, Software
• By Machine Learning Technology: Deep Learning, Computer Vision, Context Awareness, Natural Language Processing
• By Process: Signal Recognition, Object Recognition, Data Mining
• By Application: Semi Autonomous Truck, Truck Platooning, Predictive Maintenance, Precision and Mapping, Autonomous Truck, Other Applications.
Which Region Dominates The Artificial Intelligence in Transportation Market?
North America took the lion's share in the AI in transportation market in 2024, while Asia-Pacific is predicted to be the fastest-growing region in the forecast period. The report covers Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Artificial Intelligence in Transportation Market Global Market Report?
- Market Size Analysis: Analyze the Artificial Intelligence in Transportation Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Artificial Intelligence in Transportation Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Artificial Intelligence in Transportation Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Artificial Intelligence in Transportation Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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