AI Drives Transportation Market By 2023

The top companies in the transportation ai market are Volvo, Mercedes-Benz, Alphabet, Intel, NVIDIA, Valeo, ZF Friedrichshafen, Continental, and Magna International.

The "AI in Transportation Global Market Report 2023" is out. Reportlinker.com released it. Many big companies are involved, including Microsoft and Scania.

AI in transportation market will soar to $3.25 billion in 2023. This growth would be at a CAGR of 19.3% from $2.72 billion in 2022. But Russia-Ukraine war hindered global economic recovery amid the pandemic. This leads to implied sanctions, high commodity prices, and supply chain glitches. Hence, inflation affected many markets all over the world. Nonetheless, AI in transportation market expects to hit $6.3 billion by 2027 at a CAGR of 18.2%.

The AI in transportation market makes money by offering intelligent traffic management, safety management, automatic traffic incident detection, advanced driver-assistance systems, and route optimization. This market involves the value of goods sold by the service provider or offered with their services.

The transportation AI market sells storage devices, network connectors, and storage IOPS. The values are called 'factory gate' values, which means it's the value of goods sold by manufacturers. This includes sales to other businesses and consumers.

Creators of goods often sell related services in this market to increase the value of their products.

Transportation is using AI technology. It helps with self-driving cars, traffic management, and logistics. AI predicts accidents and improves safety for passengers. It also reduces accidents and traffic congestion. Transportation costs can be lower with AI.

The AI in transportation market was biggest in North America in 2022. The report includes regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

AI in transportation has two main components: hardware and software. Hardware is the physical infrastructure that supports computer and electronic devices. It's an important foundation for these systems to work effectively.

There are lots of processes like signal recognition, object recognition, and data mining. Natural language processing, deep learning, computer vision, and context-awareness are types of technology that are used for semi-autonomous truck, truck platooning, predictive maintenance, precision and mapping, autonomous truck, machine-human interface, and other things.

More road accidents mean the AI in transportation market will grow. An accident is when a vehicle crashes on a public road and someone gets hurt or dies.

AI helps manage traffic, reduce accidents, and improve road flow. The US saw a rise in deaths caused by car accidents in 2022, with over 20,000 deaths in just the first half. Back in 2019, road fatalities rose by 10.5%. This upward trend in accidents is fueling the adoption of AI in transportation.

The AI in transportation market is into technology. Big companies are using new technology to keep going.

Alibaba Cloud, a company from Singapore, created EasyDispatch in March 2023. This solution for logistics uses artificial intelligence (AI) to make real-time service dispatching better. It also lowers logistics costs for businesses.

This software has good address processing and field service dispatch abilities. It's reliable, fast, and can be accessed easily from anywhere.

Velodyne Lidar, which is a lidar technology company from the US, has acquired AI Software Company Bluecity in October 2022. The amount of the acquisition has not been disclosed. This acquisition helps Velodyne become more broad, diverse, and enriched. It does this by adding AI-powered autonomous vision systems and lidar-based solutions. These additions aim to help solve safety, traffic, and infrastructure issues.

Bluecity is a company from Canada and they have AI software. They use lidar to solve problems with safety, traffic, and infrastructure. They can detect vehicles, bicycles, and people.

The AI in transportation market report covers 12 countries. These countries are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

Market value means the money companies make by selling products or services in a certain area, using sales, grants, or donations, in USD currency (unless stated otherwise).

The revenues in an area are what organizations make in that area regardless of where they make it. It doesn't include revenue from reselling.

The AI in transportation market research report gives data on the AI in transportation industry. The report includes global market size and regional shares. It also gives information on competitors in the AI in transportation market. There are details on AI in transportation market segments, trends, and opportunities. This report offers a comprehensive analysis of the industry's present and future. You can read the full report by using the link provided.

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