Global Artificial Intelligence in Transportation Market was valued at USD 1.85 billion in 2018 which is expected to reach USD 4.8 billion by 2027 at a CAGR 17.3%.
Artificial intelligence technology is the computer operated task which involves human intelligence such as solving complex problem solving, and decision making. Global artificial intelligence in transportation market is exponentially growing due to government rules and regulations for vehicle safety and security and implementation of enhanced driver assistance systems.
Increase in technological advancements in transportation industry is expected to drive the global artificial intelligence in transportation market growth. For instance, in May 2019, Sweden had launched world’s first driverless truck called a T-Pod. T-Pod reduces the operating cost. Furthermore, increase in demand for convenience and safety is the opportunity for OEMs to develop artificial intelligence systems which is expected to propel the growth of global artificial intelligence in transportation market. Moreover, the development of autonomous vehicles for transportation will have the positive impact on growth of global artificial intelligence in transportation market.
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However, high cost of artificial intelligence systems and high infrastructure cost are the major challenges for the growth of artificial intelligence in transportation market. Also, machine learning is data driven and cyber security and data privacy will affect the global artificial intelligence in transportation market growth.
Global Artificial Intelligence in Transportation Market is segmented into offering such as Hardware, and Software, by technology such as Computer Vision, NLP, and Deep Learning. Further, Global Artificial Intelligence in Transportation Market is segmented into process such as Signal Recognition, and Data Mining.
Also, Global Artificial Intelligence in Transportation Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market Key Players
Various key players are discussed in this report such as
- and ZF.
- Computer Vision
- Deep Learning
- Signal Recognition
- Data Mining
- North America
- Latin America
- Asia Pacific
- Middles East & Africa
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