Artificial Intelligence in Transportation Market Prospective to be Strong Throughout 2020-2028
Rising demand for safety and security in transportation and efficient traffic management are key factors influencing market growth.
— Emergen Research
VANCOUVER, BC, CANADA, August 18, 2022 /EINPresswire.com/ — The global Artificial Intelligence in transportation market 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. Steady revenue growth of the Artificial Intelligence in transportation market can be attributed to rising demand for safety and security in transportation and logistics and increasing deployment of more advanced traffic management solutions. Artificial Intelligence (AI) in transportation is used to gather traffic data to decrease traffic congestion and enhance public transport scheduling. 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. 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.
The report on the Global Artificial Intelligence in Transportation Market initially offers an in-depth overview of the Artificial Intelligence in Transportation Market along with insights into the developments and advancements in the sector. The report offers a comprehensive overview of the regional and competitive landscape and provides a deeper insight into the current market scenario and future growth prospects. The research study also provides a complete analysis of the market drivers, restraints, limitations, threats, risks, and growth opportunities.
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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 Artificial Intelligence in transportation market 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.
The report highlights the current impact of COVID-19 on the Artificial Intelligence in Transportation market along with the latest economic scenario and changing dynamics of the market. It analyzes the impact of the pandemic on market growth and remuneration. The pandemic has changed the economic scenario of the world and has affected several sectors of the market. The report estimates the market for Artificial Intelligence in Transportation according to the impact of COVID-19.
Major Players/Manufacturers profiled in the report are:
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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Emergen Research has segmented the global Artificial Intelligence in transportation market in terms of process, learning technology, application, and region:
Process Outlook (Revenue, USD Million; 2021–2028)
Learning Technology Outlook (Revenue, USD Million; 2021–2028)
Natural Language Processing
Application Outlook (Revenue, USD Million; 2021–2028)
Regional Analysis of the Artificial Intelligence in Transportation Market Includes:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The report offers a complete understanding of the Artificial Intelligence in Transportation market in key regions with respect to regional production and consumption patterns, import/export, supply and demand dynamics, trends, growth prospects, and the presence of prominent players in each region. Each of the mentioned regions is analyzed based on the comprehensive market data obtained from the major countries of each region to impart a clear understanding of the market.
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The report offers insightful information about the market dynamics of the Artificial Intelligence in Transportation market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Artificial Intelligence in Transportation market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Artificial Intelligence in Transportation market.
Key Coverage of the Artificial Intelligence in Transportation Market:
Insightful information regarding the global Artificial Intelligence in Transportation market
Identification of growth in various segments and sub-segments of the Artificial Intelligence in Transportation market
Strategic recommendations for investment opportunities
The report covers significant statistics related to the industry along with products, applications, price analysis, demand & supply, and production and consumptions rate
Emerging trends and current market segment analysis to help investors formulate new business strategies
Accelerates the decision-making process through the availability of the drivers and limitations
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