Press release
AI in Transportation Market: Exponential Growth, Key Market Drivers, and Future Outlook
AI in Transportation Market Size
What Is The Projected Market Size Of The Global AI in Transportation Market And Its Growth Rate?
• The AI in transportation market size rapidly expanded from $3.78 billion in 2024 to $4.43 billion in 2025 at a compound annual growth rate (CAGR) of 17.4%.
• The growth over this period is significantly influenced by optimization in traffic management, advancement in autonomous vehicles, and increasing demand for intelligent public transportation systems.
• The future growth projection is quite promising, with the market size expected to reach $9.31 billion in 2029 at a CAGR of 20.4%.
• This future growth is associated with the expansion of electric and connected vehicles, integration of AI in urban mobility, focus on building sustainable and smart cities, and improvements in safety features and remote operations.
What Is Driving The Growth In The AI in Transportation Market?
The growth in the AI in transportation market is significantly propelled by the increasing number of vehicles, spurred by population growth, economic development, and inadequacy of public transportation systems. AI integration in optimization of traffic flow, reduction of congestion, and minimizing of travel times by analyzing real-time traffic data is a major driving factor. For instance, as per a report by Statistics Canada in June 2024, the total number of registered road vehicles in Canada reached 26.3 million in 2022, showing a 0.3% increase from 2021. This growing number of vehicles is inevitably driving the growth of the AI in transportation market.
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Who Are the Key Players Driving AI in Transportation Market Growth?
• 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.
What Are The Key Trends In The AI in Transportation Market?
• Advancements in AI algorithms and machine learning
• Government initiatives and regulations governing AI in transportation
• Development in autonomous vehicles
• Integration of predictive maintenance with AI
• Multimodal integration
What Are The Segments Of The Global AI in Transportation Market?
• 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
Which Region Leads The AI in Transportation Market?
North America held the largest market share in the AI in transportation market in 2024. Other regions covered in the market report include Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, Africa.
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What Is Covered In The AI in Transportation Market Global Market Report?
- Market Size Analysis: Analyze the AI in Transportation Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the AI 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 AI in Transportation Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the AI in Transportation Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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