Generative Artificial Intelligence (AI) In Transportation Market Poised for 19.5% Growth, Set to Hit $6.54 Billion by 2029

Which drivers are expected to have the greatest impact on the over the generative artificial intelligence (ai) in transportation market's growth?
The upward trend in the demand for autonomous vehicles is predicted to fuel the growth of generative AI in the transportation sector in the near future. Autonomous vehicles, often referred to as self-driving or driverless, have the ability to operate and navigate without direct human interference, utilizing an array of sensors, cameras, radar, AI, and machine learning algorithms. The rising demand for these autonomous vehicles can be credited to various influencing factors like safety concerns, consumer preferences, traffic congestion, and government policies and incentives. Generative AI plays a pivotal role in facilitating autonomous vehicle training by generating a wide array of driving scenarios and simulations, thereby enhancing the robustness and safety of the system. It also develops personalized user interfaces for more efficient user engagement and interaction. As per the data from the National Highway Traffic Safety Administration, a government agency based in the US, in December 2022, there's a forecasted increase of self-driving vehicles in the US, with projections of 3.5 million by 2025 and 4.5 million by 2030. As a result, the burgeoning demand for autonomous vehicles is stimulating the growth of generative AI in the transportation market.

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What is the future CAGR of the generative artificial intelligence (ai) in transportation market, and how will it impact industry expansion?
There has been a swift expansion in the market size of generative artificial intelligence (AI) in the transportation sector in recent years. The value of the market is projected to rise from $1.01 billion in 2024 to $1.21 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 19.6%. Factors such as the rise in data generation by transportation systems, the burgeoning demand for autonomous vehicles, escalating consumer expectations, increased interest in traffic management, and a growing emphasis on safety and efficiency, have contributed to this historic period of growth.

The market size of generative artificial intelligence (AI) in transportation is forecasted to expand remarkably in the upcoming years. It is predicted to reach $2.46 billion in 2029, with a compound annual growth rate (CAGR) of 19.5%. This potential growth during the forecast period can be credited to an enhanced focus on cybersecurity, improved supply chain management, emergence of smart cities, the development of mobility-as-a-service (MaaS), proliferation of autonomous vehicles, and greater data accessibility. Key trends for the forecast period include constant refinement in AI algorithms, embracing of intelligent solutions, progress in 5G technology, and the integration of AI with the Internet of Things (IoT), as well as advancements in cloud communication technology.

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What are the most significant trends transforming the generative artificial intelligence (ai) in transportation market today?
Leading businesses in the generative artificial intelligence (AI) for transportation sector are channeling their focus towards the development of progressive technologies like generative AI (GenAI) chatbots for enriching personalized customer experiences. GenAI chatbots are technologically advanced systems that foster natural language dialogues with the aid of avant-garde machine learning models. To exemplify, in August 2024, Wiliot, a company originating from Israel that works on Internet of Things technology, introduced their WiliBot, a GenAI chatbot equipped to facilitate natural language communication with ambient IoT-converged products. WiliBot is an innovative tool crafted to unite physical goods with digital intellect, which assists enterprises and consumers in engaging purposefully about their products and supply chains. The harmonious integration of a large language model (LLM) with Wiliot's ambient IoT technology enables WiliBot users to enquire in natural language about product specifics, including shelf life, transportation history, and sustainability indexes. WiliBot effectively employs real-time data sourced from Wiliot's autonomous IoT Pixels, which keep tabs on location, temperature, and humidity. This data is subsequently dispatched through Bluetooth to the Wiliot cloud for analytical processing. The AI algorithms of the WiliBot can recognize supply chain complications, such as temperature fluctuations, and produce alerts or suggestions to boost operational efficacy.

Which key market segments comprise the generative artificial intelligence (ai) in transportation market and drive its revenue growth?
The generative artificial intelligence (AI) in transportation market covered in this report is segmented -

1) By Type: Services; Solution
2) By Application: Route Optimization; Customer Support; Assess Safety; Predictive Maintenance; Other Applications
3) By End-User: Automotive Manufacturers; Transportation Agencies

Subsegments:
1) By Services: AI-Powered Traffic Management Services; Predictive Maintenance Services; Autonomous Vehicle Development Services; Route Optimization And Planning Services; AI-Based Logistics And Supply Chain Services
2) By Solution: Autonomous Driving Solutions; AI-Based Fleet Management Solutions; Intelligent Transport Systems (ITS) Solutions; AI-Powered Navigation And Mapping Solutions; AI-Driven Safety And Security Solutions

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What regions are at the forefront of generative artificial intelligence (ai) in transportation market expansion?
North America was the largest region in the generative artificial intelligence (AI) in the transportation market in 2024. The regions covered in the generative artificial intelligence (AI) in transportation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the leading players fueling growth in the generative artificial intelligence (ai) in transportation market?
Major companies operating in the generative artificial intelligence (AI) in transportation market are Amazon Web Services Inc., accenture* plc, International Business Machines Corporation, Oracle Corporation, Continental AG, SAP SE, Nvidia Corporation, Capgemini SE, Cognizant Technology Solutions Corp., Infosys Limited, Adobe Inc., HCL Technologies Limited, Wipro Ltd., ServiceNow Inc., Blue Yonder Group Inc., Geotab Inc., Kinaxis Inc., DataRobot Inc., Resilinc Corporation, LLamasoft Inc., ClearMetal Inc.

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What Is Covered In The Generative Artificial Intelligence (AI) In Transportation Global Market Report?

•Market Size Forecast: Examine the generative artificial intelligence (ai) in transportation market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the generative artificial intelligence (ai) in transportation market for a structured understanding.
•Key Players Overview: Analyze major players in the generative artificial intelligence (ai) in transportation market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the generative artificial intelligence (ai) in transportation market.
•Segment Contributions: Evaluate how different segments drive overall growth in the generative artificial intelligence (ai) in transportation market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the generative artificial intelligence (ai) in transportation market.
•Industry Challenges: Identify potential risks and obstacles affecting the generative artificial intelligence (ai) in transportation market.
•Competitive Landscape: Review strategic developments in the generative artificial intelligence (ai) in transportation market, including expansions, agreements, and new product launches.

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