Global AI in Transportation Market Research Report Forecast to 2027

Global AI in Transportation Market Research Report Forecast to 2027

AI in Transportation Market Forecast till 2027

Market Overview

The deployment of AI in transportation is driven by the concept of deep learning. AI has become an integral part of the autonomous vehicle industry and is essential for the operation, driving, decision-making and learning processes of transports. Self-driving trucks are rapidly adopting AI and there are many benefits of this technology. The AI in the transportation market is segmented for specific vehicles and the adoption of AI-powered vehicles can offer many features such as speech recognition, data analysis, image processing, and efficient driving in traffic conditions.

The implementation of AI in the transportation market also requires technologies such as sensors, data fusion, and collision warning systems. The growing demand for AI in transportation is expected to lead to widespread adoption of AI-powered vehicles during the forecast period, according to market analysis.

Segment Overview

The market is segmented into application, offering, ML technology, and IoT communication technology.

The AI in transportation market is segmented by application into HMI in Trucks, and Semi-Autonomous Trucks. Autonomous Trucks, Autonomous Trucks held the largest market share due to advancements in the trucking industry and growth in the logistics industry in the US. HMI is also expected to grow significantly, thanks to its high penetration across trucks compared to advanced driver-assistance systems (ADAS).

The offering segment of the AI in transportation market is divided into Hardware and Software. The software segment held the larger market share, driven by the increased use of software-as-a-service platforms in human-machine interface (HMI) applications. Hardware is further sub-segmented into Neuromorphic and Von Neumann. The software segment is further divided into Platforms and Solutions.

Regional Analysis

The AI in transportation market is divided into three major regions: Asia Pacific, Europe, and North America. North America is currently leading in terms of market value, due to its strong regulatory framework for safety and compliance. There is a projected significant growth rate in the region, with a robust financial position that is expected to result in substantial investments in AI transportation in 2023.

Mexico alone is predicted to see over 20 billion dollars in investment for AI in transportation. The Asia Pacific is the fastest-growing region for AI in transportation, with its economic growth and expanding logistics sectors driving demand. Europe, home to several top-leading commercial vehicle producers, is well known for its high demand for commercial vehicles, which will contribute to a higher adoption rate of AI in transportation in the region. All these regional players are expected to experience higher profitability during the forecast period, with additional regions potentially emerging in the future.

Major Players

The key players in the market are Siemens Mobility Solutions, VALEO, Daimler AG, Scania AB, IBM Corporation, Magna International Inc., Robert Bosch GmbH, Huawei Technologies Co. Ltd., Intel Corporation, NEC Corporation, Microsoft Corporation, Volvo, ZF Friedrichshafen AG, Continental AG, and Nvidia.

COVID 19 Impacts

The COVID-19 pandemic has greatly impacted the global markets, including the AI in transportation industry. The pandemic and economic recession have resulted in market disruptions and reduced demand. The production of AI in transportation products has also declined during this time.

The truck segment of the market has been particularly affected by the pandemic and faces significant losses. Deploying AI into transportation has become difficult due to the pandemic, including the rise in the cost of materials. These factors have negatively impacted the sales of AI in transportation during the COVID-19 period. However, the market is expected to recover post-pandemic..

Companies Mentioned

VALEO
Daimler AG
Scania AB
IBM Corporation
Magna International Inc.
Robert Bosch GmbH
Huawei Technologies Co. Ltd.
Intel Corporation
NEC Corporation
Microsoft Corporation
Volvo
ZF Friedrichshafen AG
Continental AG
and Nvidia

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