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2025-2034 Artificial Intelligence in Transportation Market Evolution: Disruptions, Innovations, and Untapped Opportunities
Artificial Intelligence in Transportation Market
What Is the Expected CAGR for the Artificial Intelligence in Transportation Market Through 2025?
There has been a notable expansion in the size of the artificial intelligence in transportation market over recent years. Its growth trajectory indicates an upwards trend from $3.63 billion in 2024 to $4.29 billion in 2025 with a compound annual growth rate (CAGR) of 18.2%. Factors contributing to growth during the historic period include incorporating camera and sensor technology for collision prevention, the implementation of AI for real-time data analysis, and the use of high-performance computing alongside deep learning systems. Other factors include the increase in the availability of big data for training AI models and an escalating focus on automation to enhance safety measures and efficiency.
What's the Projected Size of the Global Artificial Intelligence in Transportation Market by 2029?
In the forthcoming years, the artificial intelligence in transportation market is anticipated to witness substantial growth, reaching a valuation of $9.17 billion in 2029, with a CAGR of 20.9%. This growth during the forecast period is likely to be fueled by the expanding AI application in supply chain and logistics for streamlined operations, the escalating use of AI in the development of autonomous vehicles, as well as its integration in multi-modal transportation planning and coordination. Additionally, an increase in the utilization of AI for real-time traffic predictions and route optimization, along with a growing demand for AI-driven solutions in public transportation systems, is expected. Major market trends for the forecast period may comprise the progression of AI-powered mobility-as-a-service (MaaS) platforms, a focus on explainable AI for transparent decision-making procedures, adoption of AI for personalized and adaptable in-vehicle experiences, the tailoring of AI solutions for specific industries and modes of transportation, and cooperation between AI developers and transportation stakeholders.
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Top Growth Drivers in the Artificial Intelligence in Transportation Industry: What's Accelerating the Market?
The escalating need for self-driving vehicles is anticipated to fuel the expansion of artificial intelligence in the transportation sector in the future. A self-driving vehicle is a mode of transportation capable of navigating itself from one place to another in 'autopilot' mode, employing a range of in-car technologies and sensors such as active steering, adaptive cruise control, anti-lock braking systems, GPS navigation technologies, lasers, and radars. These autonomous vehicles utilize artificial intelligence to manage the vehicle and detect possible accidents or obstructions. For instance, a report released by the Victoria Transport Policy Institute, a Canada-based research organization, in December 2023, forecasts that by 2045, half of all new vehicles may be autonomous, and by 2060, half of the total vehicle fleet. Hence, the mounting demand for autonomous vehicles will push the growth of artificial intelligence in the transportation sector.
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What Trends Will Shape the Artificial Intelligence in Transportation Market Through 2029 and Beyond?
The emergence of technological advancements as a major trend in the artificial intelligence for transportation market is gaining grounds. The big players operating in this sector are investing their focus on new product innovations to consolidate their market stance. For instance, Qualcomm, an American semi-conductor production company, introduced the Snapdragon Ride in January 2022. This product aspires to simplify the intricacies of self-driving and Advanced driver assistance systems by integrating high-performance, energy-efficient hardware, artificial intelligence (AI) capabilities, and a self-driving stack to provide a reasonably priced, high-efficiency system. It also offers extensive tools for assembling deep neural networks (deep learning).
What Are the Main 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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Which Top Companies are Driving Growth in the Artificial Intelligence in Transportation Market?
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.
Which Regions Will Dominate the Artificial Intelligence in Transportation Market Through 2029?
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
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