Press release
Prominent AI in Transportation Market Trend for 2025: Strategic Partnerships For Ai-Based Automated Vehicle Inspection
AI in Transportation Market
The surge in vehicle numbers is anticipated to fuel the expansion of the AI in transportation market in the future. The increment in the count of vehicles on the street is due to various determinants, such as population increase, economic growth, and insufficient public transit infrastructure. AI has the potential to enhance traffic movement, decrease traffic jam, and lessen travel duration by scrutinizing real-time traffic information and modifying signal timings and lane formations accordingly. For example, Statistics Canada, a Canadian national statistical institution, reported in June 2024 that the total count of registered motor vehicles on Canadian roads hit 26.3 million in 2022. This represented a mild growth of 0.3% from 2021. Hence, the escalating number of vehicles is igniting the expansion of the AI in transportation market.
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What growth opportunities are expected to drive the ai in transportation market's CAGR through 2034?
The rapid expansion of the AI in transportation market has been noted in recent years. This market, which is projected to escalate from $3.78 billion in 2024 to $4.43 billion in 2025, will experience a compound annual growth rate (CAGR) of 17.4%. The historic period's growth can be linked to the enhancement of traffic management, advancement in autonomous vehicles, the need for smart public transportation, anticipatory vehicle maintenance, and the increment in smart infrastructure.
There is an anticipated surge in the worth of the AI in transportation domain in the coming years, predicted to be around $9.31 billion by 2029 with the compound annual growth rate surging at 20.4%. The growth is primarily expected due to factors such as the proliferation of electric and connected vehicles, utilization of AI for urban mobility, emphasis on sustainable and smart cities, improved safety characteristics, and remote operations and monitoring. The major trends predicted to impact this sector in the forecast period are the growth of AI algorithms, machine learning developments, government policies and regulation changes, the evolution of autonomous vehicles, predictive maintenance employing AI and the integration of various modes of transport.
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What are the emerging trends shaping the future of the ai in transportation market?
Key players in the AI in transportation sector are forming strategic alliances to acquire valuable insights and resources from other participants, thus encouraging innovation and the creation of cutting-edge technology. These partnerships allow companies to combine their resources and knowledge to create trailblazing AI-enabled transportation solutions. Take, for example, how in October 2023, Amazon, a US E-commerce giant, joined forces with UVeye, a US company specialized in automated vehicle inspection, to roll out an AI-powered technology dubbed Automated Vehicle Inspection (AVI). This technology's purpose is to scrutinize delivery vans for abnormalities like tire flaws, undercarriage deterioration, and misshapen or twisted body parts. The AVI system can conduct a thorough scan of the vehicle in mere seconds as it moves at 5 mph, pinpoint issues, categorizes them based on their severity, and promptly transmit the results to a computer. This technology's goal is to enhance Amazon's delivery fleet's safety while lessening dependence on manual checks.
Which growth-oriented segments of the ai in transportation market are leading the industry's development?
The AI in transportation market covered in this report is segmented -
1) By Components: Hardware, Software
2) By Process: Signal Recognition, Object Recognition, Data Mining
3) By Technology Type: Natural Language Processing, Deep Learning, Computer Vision, Context-Awareness
4) By Application: Semi-Autonomous Truck, Truck Platooning, Predictive Maintenance, Precision And Mapping, Autonomous Truck, Machine Human Interface, Other Applications
Subsegments:
1) By Hardware: Sensors, Cameras, LiDAR, Radar, GPS Devices
2) By Software: Traffic Management Software, Autonomous Driving Software, Route Planning Software, Fleet Management Software, Predictive Analytics Software
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What regions are leading the charge in the ai in transportation market?
North America was the largest region in the AI in transportation market in 2024. The regions covered in the AI in transportation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What companies are at the forefront of innovation in the ai in transportation market?
Major companies operating in the AI in transportation market include 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.
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What Is Covered In The AI in Transportation Global Market Report?
• Market Size Forecast: Examine the ai in transportation market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the ai in transportation market for a structured understanding.
• Key Players Overview: Analyze major players in the ai in transportation market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the ai in transportation market.
• Segment Contributions: Evaluate how different segments drive overall growth in the ai in transportation market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the ai in transportation market.
• Industry Challenges: Identify potential risks and obstacles affecting the ai in transportation market.
• Competitive Landscape: Review strategic developments in the ai in transportation market, including expansions, agreements, and new product launches.
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