Artificial Intelligence in Transportation Market Size Forecasted To Achieve $9.17 Billion By 2029 With Steady Growth

The Artificial Intelligence in Transportation Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Artificial Intelligence in Transportation Market Size and Projected Growth Rate?
Recently, the market size of artificial intelligence in transportation has seen a significant increase. The market is expected to rise from $3.63 billion in 2024 to $4.29 billion in 2025, at a compound annual growth rate (CAGR) of 18.2%. Factors that contributed to this growth during the historic period include the implementation of cameras and sensors to avoid collisions, real-time information analysis through AI, the use of high-performance computing and deep learning systems, increased availability of big data for training AI models, and amplified focus on automation for safety and productivity enhancement.

The market for artificial intelligence in transportation is anticipated to witness significant expansion in the years ahead. By 2029, it is projected to reach a value of $9.17 billion, growing at a compound annual growth rate (CAGR) of 20.9%. This growth over the forecast period is largely due to the increased use of AI in supply chain logistics for more effective operations, a rise in the use of AI for the development of autonomous vehicles, the integration of AI into multimodal transportation planning and coordination, an increase in the adoption of AI for real-time traffic prediction and route optimization, and a growing demand for AI-initiated solutions in public transportation systems. The future trends for this period include the creation of AI-enabled mobility-as-a-service (maas) platforms, a focus on explainable AI to make decision-making processes more transparent, the application of AI for personalized and adaptable in-vehicle experiences, the customization of AI solutions for specific transportation modes and industries, and collaboration between AI developers and transportation stakeholders.

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What Are the Major Segments in the Artificial Intelligence in Transportation Market?
The artificial intelligence in transportation market covered in this report is segmented -

1) By Offering: Hardware, Software
2) By Machine Learning Technology: Deep Learning, Computer Vision, Context Awareness, Natural Language Processing
3) By Process: Signal Recognition, Object Recognition, Data Mining
4) By Application: Semi Autonomous Truck, Truck Platooning, Predictive Maintenance, Precision And Mapping, Autonomous Truck, Other Applications

Subsegments:
1) By Hardware: Sensors, Edge Computing Devices, Control Units And Processors, Communication Devices
2) By Software: AI Algorithms For Route Optimization, Autonomous Vehicle Software, Fleet Management Software, Predictive Maintenance Solutions, Traffic Management Systems

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What Are The Driving Artificial Intelligence in Transportation Market Evolution?
The escalating demand for self-driving vehicles is anticipated to boost the expansion of artificial intelligence in the transportation sector in the future. Autonomous vehicles, essentially vehicles capable of navigating from one point to another in 'autopilot' mode using a plethora of in-vehicle technologies and sensors including adaptive cruise control, active steering, anti-lock braking systems, GPS navigation technology, lasers, and radar. These self-driving vehicles utilize artificial intelligence to not only operate themselves but also to detect any impending accidents or obstacles. For example, the Victoria Transport Policy Institute, a research organization based in Canada released a report in December 2023, projecting that by 2045, half of all new vehicles might be autonomous, and by 2060, half of all vehicles might be self-driving. Therefore, the rising demand for autonomous vehicles is projected to steer the advancement of artificial intelligence in the transportation industry.

Which Firms Dominate The Artificial Intelligence in Transportation Market Segments?
Major companies operating in the artificial intelligence in transportation market include The Volvo Group, Mercedes-Benz Group AG, Scania AB, Peloton Interactive Inc., Valeo SA, Xevo Inc., Nvidia Corporation, Intel Corporation, Robert Bosch GmbH, Continental AG, Microsoft Corporation, International Business Machines Corp, Magna International Inc., ZF Friedrichshafen AG, Alphabet Inc., Daimler AG, General Motors Company, Aptiv plc, Denso Corporation, Xilinx Inc., TomTom NV, Harman International Industries Inc., Nauto Inc., FiveAI Inc., Waymo LLC, Uber Technologies Inc., Tesla Inc., Mobileye NV, Baidu Inc., AutoX Inc., Ponyai Inc., TuSimple Inc., Aurora Innovation Inc., Embark Trucks Inc., Plusai Inc.

What Trends Are Expected to Dominate the Artificial Intelligence in Transportation Market in the Next 5 Years?
The rise in technological innovations is a central trend currently impacting the artificial intelligence in transportation market. Major industry players are directing their efforts towards product innovation to consolidate their place in the market. As an example, Qualcomm, an American semiconductor manufacturer, introduced Snapdragon Ride in January 2022. Snapdragon Ride's objective is to simplify the complexities of autonomous driving and Advanced driver assistance system. It merges power-efficient, high-performance hardware, AI technologies, and an autonomous driving stack to present an energy-efficient, low-cost system. This system is equipped with extensive tools for compiling deep neural networks (deep learning).

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Which Is The Largest Region In The Artificial Intelligence in Transportation Market?
North America was the largest region in the artificial intelligence in transportation market in 2024.Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the artificial intelligence in transportation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Artificial Intelligence in Transportation Market?
2. What is the CAGR expected in the Artificial Intelligence in Transportation Market?
3. What Are the Key Innovations Transforming the Artificial Intelligence in Transportation Industry?
4. Which Region Is Leading the Artificial Intelligence in Transportation Market?

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