The global impact of artificial intelligence in transportation size is expected to reach USD 7,065.1 Million in 2028 and register a robust CAGR over the forecast period, according to latest analysis by Emergen Research. The report provides detailed insights into impact of artificial intelligence in transportation trends, industry trends, consumer trends, market size, market share, market revenue growth, and forecast, along with ranging impact of each factor and driver. It also provides analysis of various factors expected to restrain or limit potential growth in impact of artificial intelligence in transportation size over the forecast period, 2020–2028. The Artificial Intelligence in Transportation report includes profiles of major players in the market, strategies being employed, mergers, acquisitions, recent developments, agreements, contracts, new product development and launches, segment revenue, investment details as well as financials. Steady revenue growth of the impact of artificial intelligence in transportation can be attributed to rising demand for safety and security in transportation and logistics and increasing deployment of more advanced traffic management solutions.
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AI helps in streamlining traffic patterns through real-time tracking and intelligent traffic light algorithms, thereby enabling smooth traffic flow, which significantly improves various aspects in transportation. Varying market trends can be attributed to inclining revenue growth of the global impact of artificial intelligence in transportation going ahead. impact of artificial intelligence in transportation trends include rising focus by major players on product/service expansion into new and untapped domestic markets and rising competition. Other positive impact of artificial intelligence in transportation trends include rising demand and deployment in respective sectors/industries in major and developing countries. Artificial Intelligence (AI) in transportation is used to gather traffic data to decrease traffic congestion and enhance public transport scheduling. In addition, implementation of favorable government policies, advancements in technology, and steady economic growth across various regions and countries are factors expecte Besides, AI helps in decreasing fuel consumption and exhaust emissions, which would otherwise be higher in a normal setting as a result of numerous vehicles moving slowly during a traffic jam or congestion d to continue to result in further impact of artificial intelligence in transportation trend evolution and changes going ahead.
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In terms of impact of artificial intelligence in transportation share and revenue contribution to the global impact of artificial intelligence in transportation, North America is expected to maintain its dominance over other regional markets over the forecast period. Presence of major companies in countries in the region is a key factor supporting rapid increase in impact of artificial intelligence in transportation share.
The market intelligence report on the Artificial Intelligence in Transportation Industry also includes an extensive investigation of the competitive landscape. It assesses the business and marketing strategies expected to be present in the market through the forecast years. It also includes an investigation of the recent advancements and other factors driving the growth of the overall market to help comprehend the progress of the companies in the coming years.
Some Key Highlights in the Report
- In October 2020, Daimler Trucks entered into a partnership agreement with Waymo for deployment of autonomous SAE L4 technology. The partnership is intended to combine the automated driver technology of Waymo with a cutting-edge version of Freightliner Cascadia of Daimler for autonomous driving.
- Signal recognition segment accounted for largest revenue share in 2020. Signal recognition and processing is used in intelligent transportation systems, which comprise technologies deployed in roadways and vehicles for management and enhancement of traffic flow. Signal recognition-based systems are used for detection of vehicles as they approach an intersection, thereby enabling traffic control systems to regulate traffic lights when needed.
- Computer vision finds widespread use in traffic management systems. It aids in maintaining a steady traffic flow, leading to fewer congestions. Computer vision is also used in smart cities in the functioning of ambient light detectors in streetlights.
- The impact of artificial intelligence in transportation in Asia Pacific is expected to register the fastest revenue growth rate as compared to other regional markets over the forecast period, owing to rapid growth of the transportation sector, rising sales of heavy commercial vehicles, and increasing use of AI in transportation, traffic management, and logistics.
- Major companies operating in the impact of artificial intelligence in transportation include Daimler AG, Continental AG, Robert Bosch GmbH, VOLVO, PACCAR Inc., Magna International Inc., ZF Friedrichshafen AG, Scania AB, Valeo, and MAN SE.
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Region wise performance of the Artificial Intelligence in Transportation industry
North America impact of artificial intelligence in transportation trend scenario has significant impact on other regional market trends. North America impact of artificial intelligence in transportation accounted for largest revenue share in 2020 and is expected to continue to maintain its dominance over other regional markets over the forecast period. Presence of major players in countries in the region is a key factor driving steady change in overall impact of artificial intelligence in transportation trends.
Asia Pacific impact of artificial intelligence in transportation is expected to register comparatively faster revenue growth than other regional markets over the forecast period. This can be attributed to varying impact of artificial intelligence in transportation trend scenarios in countries such as China, India, South Korea, and others. These scenarios with regard to domestic market trends and international market trends and varying impacts play a major role in growth of the Asia Pacific market.
Asia Pacific market share contribution to the global impact of artificial intelligence in transportation is expected to continue to register comparatively faster growth rate than other regional markets between 2020 and 2028. Increasing population, favorable government policies and initiatives, rising disposable income among consumers in countries in the region, influence of impact of artificial intelligence in transportation trends in other countries and regions, and steady economic growth are some key factors driving market revenue growth of the Asia Pacific impact of artificial intelligence in transportation.
Europe impact of artificial intelligence in transportation size and revenue growth is primarily supported by impact of artificial intelligence in transportation trends such as continuous developments in major countries in the region, robust focus on research and development initiatives by major firms, and changing market trends in countries in other major regions.
Geographically, this report studies the key regions, focuses on product sales, value, market share and growth opportunity in these regions, covering:
- United States
- Southeast Asia
We can also provide the customized separate regional or country-level reports, for the following regions:
North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Singapore, Rest of Asia-Pacific, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Central & South America, Brazil, Argentina, Rest of South America, Middle East & Africa, Saudi Arabia, Turkey, Rest of Middle East & Africa
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The research provides answers to the following key questions:
- What will be the growth rate and the market size of the Artificial Intelligence in Transportation industry for the forecast period 2020-2027?
- What are the major driving forces expected to impact the development of the impact of artificial intelligence in transportation across different regions?
- Who are the major driving forces expected to decide the fate of the Artificial Intelligence in Transportation industry worldwide?
- Who are the prominent market players making a mark in the impact of artificial intelligence in transportation with their winning strategies?
- Which Artificial Intelligence in Transportation industry trends are likely to shape the future of the industry during the forecast period 2020-2027?
- What are the key barriers and threats believed to hinder the development of the industry?
- What are the future opportunities in the impact of artificial intelligence in transportation?
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