Global Artificial Intelligence in Transportation Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast: 2019–2028

“Global Artificial Intelligence in Transportation Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global artificial intelligence in transportation market report has been segmented on the basis of offering, machine learning technology, application, process, and region.

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Global Artificial Intelligence in Transportation Market: Overview

Artificial Intelligence is a wide area of computer science which enables machines to work and behave like human beings. It is used to simplify some difficult issues that are hard to clarify by traditional methods. Artificial Intelligence in transportation sector will work to ensure safety of passengers and the driver while driving vehicle.

Global Artificial Intelligence in Transportation Market: Dynamics

Increasing transportation concerns, increasing vehicle traffic, and rising incidence of human errors or accidents due to various reasons are major factors expected to drive growth of the global artificial intelligence in transportation market. Unpredictable behavior, drink and drive cases are some of the reasons that can cause accidents. In such cases, adoption of artificial intelligence in transportation can help refrain from accidents.

In addition, various decision making tools that are developed and executed by using artificial intelligence is another factor expected to drive growth of the global artificial intelligence in transportation market. Moreover, usage of artificial intelligence in transport will help reduce cost in terms of labor wages and provides greater benefits to end users, which in turn is projected to drive growth of the global artificial intelligence in transportation market.

Furthermore, various benefits provided by artificial intelligence in transport industry such as enhanced public safety, better planning and decision making, traffic control and pedestrian safety are factors anticipated to drive growth of the global artificial intelligence in transportation market.

However, high initial cost is a major factor expected to hinder growth of the global artificial intelligence in transportation market. Moreover, lack of awareness regarding such technology in various developing or under-developed countries may result in low adoption of AI technology, thereby restraining revenue growth of the target market to a certain extent.

Global Artificial Intelligence in Transportation Market: Segment Analysis

Among the offering segments, the software segment is expected to dominate in the global artificial intelligence in transportation market with major share in terms of revenue. From the recent past, there have been investments for development of new technologies including artificial intelligence-based software and solutions, and consumers across the globe are more inclined towards enhanced technologies and are readily spending on automobiles which are based on new and enhanced abilities and features. These aforementioned are factors expected to drive growth of the software segment in global artificial intelligence in transportation market.

Among the machine learning technology segments, the deep learning segment is projected to dominate in the global artificial intelligence in transportation market with highest share in terms of revenue.

Among the application segments, the HMI segment is anticipated to dominate in the global artificial intelligence in transportation market with highest share in terms of revenue.

Global Artificial Intelligence in Transportation Market: Region Analysis

North America market is expected to account for highest revenue share in the global artificial intelligence in transportation market. Early adoption of enhanced technologies, presence of well-established key players and high investments on research and development by these players are factors expected to drive growth of the target market in North America. The US market is expected to contribute the highest in the North America market.

Global Artificial Intelligence in Transportation Segmentation:

Segmentation by Offering:

• Hardware
• Software

Segmentation by Machine Learning Technology:

• Deep Learning
• Computer Vision
• Context Awareness
• NLP

Segmentation by Application:

• Semi & Full-Autonomous
• HMI
• Platooning

Segmentation by Process:

• Data Mining
• Image Recognition
• Signal Recognition

Segmentation by Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa