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Global Artificial Intelligence in Transportation Market – Analysis and Forecast (2018-2024)

Artificial intelligence is a computer operated task which involves human intelligence such as decision making.

Artificial intelligence is a computer-operated task that involves human intelligence such as decision making. The global artificial intelligence in the transportation market is growing at a significant rate due to mounting government regulation for vehicle safety and security and mounting implementation of enhanced driver assistance systems. Different process contributed to the artificial intelligence in the transportation market size. The market has witnessed a high demand for data mining in the coming years due to the mounting requirement for prognostic maintenance in the transportation industry.

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Industry Dynamics

Growth Drivers

The stringent government regulation for vehicle safety and security, mounting implementation of enhanced driver assistance systems and increasing emphasis towards decreasing the transportation costs are the primary growth drivers for artificial intelligence in the transportation market.

The advancement of autonomous vehicle by the implementation of safety features such as adaptive cruise control (ACC), advanced driver assistance system (ADAS), collision warning, and lane-keep assist is also facilitating the growth of artificial intelligence in the transportation market. For instance, several companies are capitalizing on the improvement of self-driving trucks.

In addition, truck platooning is also driving the growth of artificial intelligence in the transportation market. For instance, artificial intelligence technologies such as forward collision warning, sensor fusion, signal recognition, and lane-keep assist are the major factors driving the growth of truck platooning. Moreover, mounting environmental concerns, strict government regulations for emission, mounting fuel proficiency and concerns of traffic congestion have enhanced the growth of the truck platooning in the market.

Challenges

The high cost of artificial intelligence systems and infrastructure cost are the major challenges for the growth of artificial intelligence in the transportation market. In addition, machine learning is data-driven and cybersecurity and data privacy are also hindering the growth of the market.

Geographic Overview

Geographically, North America is the largest artificial intelligence in the transportation market due to the high level of funding from the government. In addition, the region is home to leading technology companies, shortage of truck drivers and stringent government regulations for road safety are also facilitating the growth of the North American market.

In Addition, Asia-Pacific is observed to witness the fastest growth in the market due to a steadily growing population. In addition, robust economic growth, the shift of unorganized third-party logistics sector to organized sector and growing logistics and supply chain sector are also up surging growth of the Asia-Pacific artificial intelligence in the transportation market.

Competitive Insight

Key players in the artificial intelligence in the transportation market are catering to the demand by collaborating, and acquiring with small players and investing in technologically advanced EVs across the globe. In February 2018, NVIDIA partnered with Continental, to create AI self-driving vehicle systems constructed on the NVIDIA DRIVE platform and have planned the market introduction of the vehicle in 2021. 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 and Intel Corporation are the key players offering artificial intelligence in transportation.

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