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Artificial Intelligence in Transportation Market to reach 17.9 billion by 2030, Exhibiting a CAGR of 18.5% | Share, Size, Growth Factors, Revenue, Opportunity & Forecast

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The global artificial intelligence in the transportation market size was US$ 1.45 billion in 2020. The global artificial intelligence in the transportation market is forecast to reach the value of US$ 17.9 billion by 2030 by growing at a compound annual growth rate (CAGR) of 18.5% during the forecast period from 2021-2030. 

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COVID-19 Impact Analysis

The COVID-19 outbreak has majorly affected the transportation industry mainly because of the shortage of laborers, raw materials, and decline in trade activities. Artificial Intelligence (AI) witnessed significant growth across various verticals. Artificial intelligence has helped the healthcare sector and scientists to track the pattern of the vaccine. However, the transportation sector witnessed a significant decline which hampered the growth of global artificial intelligence in the transportation market.

Factors Influencing

  • The stringent government regulation mainly to enhance vehicle safety and security would primarily contribute to the market growth. Moreover, the increasing adoption and demand for advanced driver assistance systems are forecast to drive market growth.
  • The global artificial intelligence in the transportation market would gain traction, owing to the growing demand for traffic management and increasing deployment of self-driving vehicles among the population.
  • Due to rising demand for enhanced logistics, the market players are forecast to witness various favorable opportunities.
  • Advancements in autonomous vehicles with the implementation of safety features, including collision warning, adaptive cruise control (ACC), advanced driver assistance system (ADAS), and lane-keep assist are forecast to fuel the market growth. These features reduce the risk associated with drug-impaired drivers.
  • The high cost associated with the implementation of artificial intelligence systems may hamper the growth of global artificial intelligence in the transportation market.

Geographic Analysis

Geographically, North America is dominating the global artificial intelligence in the transportation market and is forecast to remain dominant in terms of revenue during the forecast period. It is due to the trending integration of self-driving vehicles and government funding to boost the safety of vehicles. In addition, the presence of prominent companies in the region is forecast to fuel the industry expansion in the coming years. Furthermore, the shortage of truck drivers and growing investment in autonomous trucks may create significant growth opportunities for the market players in the region.

The Asia-Pacific region is forecast to emerge as a rapidly growing region due to the increasing population and growing adoption of self-driving vehicles. Moreover, government policies pertaining to robust economic growth are propelling the growth of Asia-Pacific artificial intelligence in the transportation market.

Competitors in the Market

  • Volvo Group
  • Scania Group
  • Man SE
  • Daimler AG
  • PACCAR Inc.
  • Magna
  • Robert Bosch GmbH
  • Continental AG
  • Valeo SA
  • Alphabet Inc.
  • NVIDIA
  • Microsoft Corporation
  • ZF Friedrichshafen AG
  • Intel Corporation
  • Other prominent players

Market Segmentation

By Application

  • Autonomous Trucks
  • HMI in Trucks
  • Semi-Autonomous Trucks

By Offering

  • Hardware
  • Software

By Machine Learning Technology

  • Deep Learning
  • Computer Vision
  • Context Awareness
  • Natural Language Processing

By Process

  • Signal Recognition
  • Object Recognition
  • Data Mining

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • Western Europe
      • The UK
      • Germany
      • France
      • Italy
      • Spain
      • Rest of Western Europe
    • Eastern Europe
      • Poland
      • Russia
      • Rest of Eastern Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia & New Zealand
    • ASEAN
    • Rest of Asia Pacific
  • Middle East & Africa (MEA)
    • UAE
    • Saudi Arabia
    • South Africa
    • Rest of MEA
  • South America
    • Brazil
    • Argentina
    • Rest of South America

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Updated : 2022-05-28 12:50 GMT+08:00