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Strong Growth Ahead: AI in Transportation Market Size To Grow At Arecord 20.4% Cagr By 2029
AI in Transportation
How Big Is the AI in Transportation Market Size Expected to Be by 2034?
The AI 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].
How Big Is the AI in Transportation Market Size Expected to Be by 2034?
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What Are the Emerging Segments Within the AI in Transportation Market?
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 Long-Term Drivers Are Shaping AI in Transportation Market Trends?
The escalation in the number of vehicles is anticipated to fuel the expansion of the AI in transportation market in the future. Several factors could be contributing to this surge, including population growth, economic progression, and the insufficiency of public transportation infrastructure. With the application of AI, traffic flow can be optimized, congestion reduced, and travel times minimized by examining real-time traffic information and modifying signal timings and lane arrangements as needed. For example, a report by Statistics Canada, a Canada-based national statistics agency, in June 2024, stated that the total registered road motor vehicles in Canada for the year 2022 hit 26.3 million, a slight uptick of 0.3% from 2021. Consequently, the burgeoning number of vehicles is spurring the growth of the AI in the transportation sector.
Who Are the Top Competitors in Key AI in Transportation Market Segments?
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.
What AI in Transportation Market Trends Are Gaining Traction Across Different Segments?
Big firms in the AI in transport sector are creating strategic partnerships for gaining access to crucial data and resources from other partners, encouraging innovation and the advancement of fresh technologies. Such partnerships allow these companies to combine their skills and resources for the creation of groundbreaking AI-driven transport solutions. For instance, in October 2023, Amazon, an E-commerce industry player based in the US joined hands with UVeye, an American firm providing automatic vehicle inspection, for the creation of an AI-powered technology named Automated Vehicle Inspection (AVI). This technological solution has been developed to scrutinize delivery vehicles for abnormalities like distortions in the tires, wear and tear in the undercarriage, and bent or twisted parts of the body. The AVI system conducts a thorough vehicle check within seconds, even while the vehicle is moving at a speed of 5 mph, and points out the issues, categorizing them as per their seriousness before instantly sending the findings to a computer. This technology is aimed at enhancing the safety measures for Amazon's delivery fleet while lowering their dependence on manual checks.
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Which Regions Are Becoming Hubs for AI in Transportation Market Innovation?
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
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the AI in Transportation Market?
2. What is the CAGR expected in the AI in Transportation Market?
3. What Are the Key Innovations Transforming the AI in Transportation Industry?
4. Which Region Is Leading the AI in Transportation Market?
Why This Report Matters:
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