AI in Transportation Market Trends That Will Shape the Next Decade: Insights from Strategic Partnerships For Ai-Based Automated Vehicle Inspection

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How Large Will the AI in Transportation Market Size By 2025?
The expansion of the AI in transportation market has been swift in the past few years. It's projected to swell from $3.78 billion in 2024 to $4.41 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 16.9%. The factors contributing to the growth during the historical period are the optimization of traffic management, the progression of autonomous vehicles, the rising need for smart public transportation, the increase in predictive maintenance for vehicles, and the enhancement of smart infrastructure.

How Big Is the AI in Transportation Market Size Expected to Grow by 2029?
The market size of AI in transportation is predicted to experience significant expansion in the near future, swelling to the value of $9.24 billion by 2029. This represents a compound annual growth rate (CAGR) of 20.3%. The projected growth during this period can be credited to the broadening scope of electric and connected vehicles, incorporation of AI in city mobility, emphasis on sustainable, smart cities, improved safety features, and distant operations and observation. Major trends forecasted in this period include progress in AI algorithms and machine learning, government-led initiatives and regulations, improvements in autonomous vehicles, predictive maintenance due to AI and integration of various modes of transport.

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Which Key Market Drivers Powering AI in Transportation Market Expansion and Growth?
The rise in vehicle numbers is predicted to boost the expansion of the AI in transportation market. This escalation in the quantity of vehicles on the roads can be tied to a variety of factors, such as population increase, economic growth, and the weakness of public transport facilities. AI can be implemented to enhance traffic movement, cut down on congestion, and shorten travelling times by studying live traffic information and making suitable adjustments to signal times and lane layouts. For example, Statistics Canada, a national statistical agency based in Canada, reported in June 2024 that the total number of registered road vehicles in Canada in 2022 had climbed to 26.3 million, a marginal growth of 0.3% over 2021. Consequently, the escalating number of vehicles is contributing to the expansion of the AI in transportation market.

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Which Fast-Growing Trends Are Poised to Disrupt the AI in Transportation Market?
Major firms active in the AI for transportation market are forging strategic alliances to gain access to valuable data and resources from other participants, promoting the creation and application of advanced technologies. These alliances allow companies to combine their capabilities and know-how to create pioneering AI-led transport solutions. For example, in October 2023, Amazon, an American e-commerce firm, collaborated with UVeye, a US-based automated vehicle inspection service, to devise a technology named Automated Vehicle Inspection (AVI) powered by AI. This technology is intended to check delivery vans for issues like tire abnormalities, undercarriage degradation and twisted or distorted body parts. The AVI is capable of conducting a comprehensive vehicle scan in seconds while the vehicle is moving at 5mph, pinpoint issues, categorize them based on their seriousness, and instantly transmit the findings to a computer. This innovation aims to enhance the safety of Amazon's delivery fleet and lessen dependence on manual inspections.

What Are the Emerging Segments in the AI in Transportation Market?
The ai in transportationmarket 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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Who Are the Global Leaders 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.

Which are the Top Profitable Regional Markets for the AI in Transportation Industry?
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

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