Use of artificial intelligence in transportation sector is increasing day by day. With the help of specially designed cameras, it is used in the prediction of traffic accidents and any such circumstances. Growing adoption of advanced driver assistance systems (ADAS), new government policy for vehicle safety, and development of autonomous vehicles play a significant role in the growth of artificial intelligence in transportation market.
MARKET SCOPE
The "Global Artificial Intelligence in Transportation Market Analysis to 2028" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of the artificial intelligence in transportation market with detailed market segmentation by offering, application, technology, process and geography. The report provides key statistics on the market status of the leading artificial intelligence in transportation market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on offering, the global artificial intelligence in transportation market is segmented into software and hardware.
- On the basis of application, the market is segmented into autonomous trucks, HMI in trucks and semi-autonomous trucks.
- Based on technology, the market is bifurcated into deep learning, computer vision, NLP and context awareness.
- On the basis of process, the market is segmented into signal recognition, data mining and image recognition.
MARKET DYNAMICS
Drivers
- Advancing technology to enhance the utility of artificial intelligence.
- Rising urbanization and increasing per capita disposable income to boost market growth of artificial intelligence in transportation.
- Scarcity of skill drivers for trucks in some parts of the world.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The artificial intelligence in transportation market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the artificial intelligence in transportation market in these regions.
IMPACT OF COVID-19 ON ARTIFICIAL INTELLIGENCE IN TRANSPORTATION MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. This pandemic restricted movement of people and goods from one place to another for some period of time. Due to this, transportation activities were reduced considerably. Also, purchasing power of the consumer got impacted, which did not allow them to spend too much on non-essential things. However, post pandemic, this market is expected to see some rise.
MARKET PLAYERS
The report covers key developments in the artificial intelligence in transportation market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from artificial intelligence in transportation market are anticipated to lucrative growth opportunities in the future with the rising demand for artificial intelligence in transportation in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the artificial intelligence in transportation market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Accenture PLC
- Amazon Web Services, Inc.
- door2door GmbH
- General Electric Company
- IBM Corporation
- Intel Corporation
- KONUX GmbH
- Microsoft Corporation
- Nvidia
- Volvo Group
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.