Global Artificial Intelligence in Transportation Market is valued USD 1.2 billion in 2017 is anticipated to grow USD 4.5 billion with the compounded annual growth of 18% over the forecast period 2018-2025.
New York 12 Aug 2018, As per the new research study conducted by Bizwit Research & Consulting, Global Artificial Intelligence in Transportation Market industry is poised to raise USD 4.5 billion by 2025. The increasing government regulations for vehicle safety, growing adoption of advanced driver assistance systems, and development of autonomous vehicles play a significant role in the growth of this market .Deep learning technology is estimated to be the largest and fastest growing segment of the artificial intelligence in transportation market, by machine learning technology. The deep learning technology is widely used in the development of autonomous vehicles, which need to see, think, drive, and learn. The last step is “learn,” where deep learning will be critical for achieving fully autonomous vehicles. Many companies are investing in the development of self-driving trucks, which use the deep learning technology for image processing, speech recognition, and data analysis. Autonomous trucks are projected to be the fastest growing segment of the artificial intelligence in transportation market, by application. Autonomous trucks are the major target for the application of artificial intelligence technology. Up until now, AI technology research was focusing on traffic and navigation system, but now the focus has shifted to make fully autonomous trucks. Many manufacturers such as Volvo (Sweden), Scania (Sweden), and Daimler (Germany) are developing and testing fully autonomous trucks. Truck platooning is projected to be the next emerging segment for the artificial intelligence in transportation market. Artificial intelligence technologies such as sensor fusion, signal recognition, forward collision warning, and lane keep assist are the key drivers for truck platooning. The growing environmental concerns, increasing fuel efficiency, stringent government regulations for emission, and concerns of traffic congestion have accelerated the growth of the truck platooning market. The market players such as Volvo, Scania, Daimler, Otto, and MAN are consistently improving their truck platooning systems.
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Global Artificial Intelligence in Transportation Market Size study, by Machine Learning Technology, by Process (Data Mining, Image Recognition, Signal Recognition), by Application (Autonomous Truck, HMI in Trucks, Semi-Autonomous Truck), by Offering and by Regional Forecasts 2018-2025
The industry is seeming to be fairly competitive. Some of the leading market Volvo, Daimler, Scania, Paccar, Continental, Magna, Bosch, ZF, Nvidia, Intel, Microsoft and so on. The fierce competitiveness has made these players spend in product developments to improve the customer’s requirements.
Key findings of the study:
- North America is estimated to be the largest market for artificial intelligence in transportation, in terms of value. Trucks are the major contributor to the transportation sector of North America.
- The U.S. has accounted for a major portion of market revenues in the region
- Many start-ups are also developing autonomous driving systems for passenger cars and commercial vehicles.
. Bizwit Research & Consulting LLP has considered following segments for the study:
By Machine Learning Technology:
- Computer Vision
- Context Awareness
- Deep Learning
- Natural Language processing
- Data Mining
- Image Recognition
- Signal Recognition
- Autonomous Trucks
- HMI in Trucks
- Semi-Autonomous Truck
- North America
- Asia Pacific
- Latin America
- Rest of the World