Artificial intelligence possesses the capability to promote ride-sharing activities, lower the time of commuters, and aid in reducing traffic jamming sessions, and hence it is widely being adopted in the transportation sector. Also, the transport ecosystem enabled with artificial intelligence facilitates dynamic decision-making process support, air traffic control, manage congestion, and also harness data power. The massive requirement for automation and safety of transport activity artificial intelligence is highly being adopted in the transport networks to control mobility solutions.
There is a growing need for reducing the operational cost and strengthening the security of transport activities. Also, the wide utility of semi-autonomous and self-driven automotive is likely to steer the growth of the global artificial intelligence in transportation market. However, the surging adoption of dockless bikes, electric cars, and electric scooters will pave a way for the long run and massive growth of artificial intelligence in transportation. In addition, the requirement to enhance the efficiency of the transport system along with lowering the vehicle collision will further compel authorities to upgrade artificial intelligence in transportation activities. However, there is a high need to control fuel emission, maintain the speed and lane discipline of vehicles will also boost market demand.
The advent of smart mobility is likely to fuel the growth of the market significantly in the forthcoming years. The smart mobility industry is proliferating at a fast pace, which in turn will help to improve traffic management and will also lower the waiting time of passengers. The smart mobility sector will widen the scope of artificial intelligence in the transportation sector. In addition, market players are widely integrating artificial intelligence in the transportation sector to elevate and leverage the traveling experience of the customer and enhance their comfort, thereby the market is likely to proliferate exponentially over the forecast period.
However, the artificial intelligence database models assist in predicting weather forecasts precisely. All these emerging landscapes in the global artificial intelligence in transportation market will significantly widen the scope of artificial intelligence in the transportation sector in the forthcoming years.
The global artificial intelligence in the transportation market can be segmented into technology, application, process, offering, and region.
By technology, the market can be segmented into natural language processing, context awareness, computer vision, and deep learning.
By offering, the market can be segmented into software and hardware. The hardware segment can further be bifurcated non-Neumann and neuromorphic. The software segment can further be bifurcated into solutions and platforms.
By process, the market can be segmented into data mining, object recognition, and signal recognition.
By application, the market can be segmented into semi-autonomous, trucks, HMI trucks, and autonomous trucks.
North America accounts for the largest share in the global artificial intelligence in transportation market owing to regulatory development like hours of service solution provisions and compliance safety & accountability norms.
Asia Pacific is expected to be the fastest-growing region in the global artificial intelligence in the transportation market owing to the surging traffic congestion in the region.
Some of the significant players in the global artificial intelligence in transportation market are Microsoft Corporation, Magna International, Intel Corporation, Daimler AG, Continental AG, Robert Bosch Gmbh, and Alphabet Inc. To cite, Nvidia and DiDi Chuxing (DiDi) in December 2019 announced that DiDi upscaled Nvidia GPUs and AI technology for building effective autonomous driving and cloud computing solutions.
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