|Market Size in 2019||Market Forecast in 2026||CAGR (in %)||Base Year|
|USD 1.12 Billion||USD 16.1 Billion||18%||2019|
Artificial Intelligence In Transportati Market
The global Artificial Intelligence In Transportation market size which was estimated at about 1.12 (USD Billion) in 2019 and is predicted to accrue earnings worth 16.1 (USD Billion) by 2026, is set to record a CAGR of nearly 18% during 2020-2026. The report offers a valuation and analysis of the Artificial Intelligence In Transportation market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, limitations, sales estimates, avenues, current & emerging trends, and industry-validated market data. The report offers historical data from 2016 to 2019 along with a forecast from 2020 to 2026 based on value (USD Billion).
AI has the ability to ease traffic jamming, lessen of time of commuters, and prompt ridesharing activities and hence it has been used in the transport sector. In addition to this, the transport ecosystem embedded with AI has the ability to harness data power, manage congestion, support air traffic control, and facilitate dynamic decision-making activities. Massive need for user-controlled mobility solutions, intelligent transport networks, and automation & safety of transport activities will drive market trends.
Escalating the need for security as well as a huge focus on reducing operational costs of transport activities will prompt the expansion of artificial intelligence in transportation industry over the coming years. Apart from this, the humungous utility of self-driven and semi-autonomous automobiles will steer the growth of artificial intelligence in transportation market during the forecast timespan. The rise in the use of electric scooters, electric cars, and dockless bicycles will not only boost the transportation market growth but will pave the way for massive utilization of artificial intelligence in transportation industry over the upcoming years. The need for reducing vehicular collisions and increasing the efficiency of ADAS systems in vehicles will proliferate business growth over the assessment timeline.
Furthermore, the requirement of controlling fuel emissions along with maintaining the speed as well as lane discipline of vehicles will spearhead the use of artificial intelligence in transportation industry. The thriving smart mobility industry and the need for reducing the cost of transportation for passengers as well as for firms involved in the transport & logistics business will spur the market size over the ensuing years.
The need to improve traffic management operations along with the need for reducing the waiting time of passengers will create huge scope of growth for artificial intelligence in transportation industry. The massive necessity of improving the traveling experience as well as providing comfort to passengers during travel will translate into an elevated surge in the utility of artificial intelligence in transportation industry in the coming decade. AI data-based models help in accurately forecasting weather changes and their use in vehicles will help travelers in predicting the fluctuations in climate. This will enhance the use of AI in transport services.
|Report Attributes||Report Details|
|Report Name||Artificial Intelligence In Transportation Market Research Report|
|Market Size in 2019||USD 1.12 Billion|
|Market Forecast in 2026||USD 16.1 Billion|
|Growth Rate||CAGR of 18%|
|Number of Pages||255|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Key Companies Covered||Volvo, Daimler, Scania, Bosch, Intel, and NVIDIA.|
|Segments Covered||By Application, By Technology, And By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East and Africa (MEA)|
|Historical Year||2016 to 2019|
|Forecast Year||2020 - 2026|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
The growth of artificial intelligence in transportation market over the assessment period is owing to the strong financial status of the giant transport & logistics firms based in the countries like the U.S. In addition to this, the implementation of strict government norms pertaining to road safety along with the presence of giant tech firms in the sub-continent will prompt the business growth in North America over the assessment period. Apparently, the rise in the sale of commercial vehicles in the U.S. will culminate in a huge regional market surge over the forecast timeframe.
Key players profiled in the study include
Escalating the need for security as well as a huge focus on reducing operational costs of transport activities will prompt the expansion of artificial intelligence in transportation industry over the coming years.
According to Zion Market Research report, the global Artificial Intelligence In Transportation market size which was estimated at about 1.12 (USD Billion) in 2019 and is predicted to accrue earnings worth 16.1 (USD Billion) by 2026, is set to record a CAGR of nearly over 18% during 2020-2026.
North America is likely to make noteworthy contributions towards overall market revenue.
The key players profiled in the report include are Volvo, Daimler, Scania, Bosch, Intel, and NVIDIA.