The global artificial intelligence in the transportation market is anticipated to grow from USD 1.47 billion in 2020 to USD 11.35 billion by 2027, growing at a CAGR of 19.5% during the forecast period 2021-2027. Artificial intelligence is the most sought-after technology globally, driving the growth of AI in the transportation market. Artificial intelligence is a computer-operated task that involves human intelligence for decision making. The global artificial intelligence in the transportation market is growing at a substantial rate due to the rising government regulation for vehicle safety and security and the growing implementation of enhanced driver assistance systems.

The mandatory government regulation for vehicle safety and security, growing implementation of enhanced driver assistance systems, rising demand for traffic management, deployment of self-driving vehicles, optimizing the efficiency of transportation fleets, growing demand for better logistics in various industries and sectors, and increasing emphasis towards decreasing the operational and transportation costs are the primary growth drivers for artificial intelligence in the transportation market.

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Asia-Pacific is expected to witness the fastest growth in the market due to the rapidly growing population, increase in the sale of self-driving vehicles. In addition, robust economic growth, the shift of the unorganized third-party logistics sector to the organized sector, and the growing logistics and supply chain sector are also driving the growth of the Asia-Pacific artificial intelligence in the transportation market.

Scania launched Propart. Autonomous vehicles and advanced driver assistance systems with robust and precise positioning to enable reliable operations.

ZF launched Middleware for series vehicles, which will be available from 2024. The company’s growth is closely connected to the development of application software for mobility domains such as automated driving, integrated safety, vehicle motion control, and electric mobility.

Volvo Group, Scania Group, Man SE, Daimler AG, PACCAR Inc., Magna, Robert Bosch GmbH, Continental AG, Valeo SA, Alphabet Inc, NVIDIA, Microsoft Corporation, ZF Friedrichshafen AG and Intel Corporation are the key players offering artificial intelligence in transportation.

Source: VynZ Research