Artificial intelligence in transportation market is projected to grow at a CAGR of 17.87% during the forecast period, and the market size is expected to grow from USD 1.21 billion in 2017 to USD 10.30 billion by 2030.
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Top Companies Analyzed for Artificial Intelligence in Transportation Market are –
- Continental (Germany)
- Daimler (Germany)
- Scania (Sweden)
- Paccar (US)
- MAN (Germany)
- Magna International (Canada)
- Bosch (Germany)
- Valeo (France)
- ZF Friedrichshafen (Germany)
- NVIDIA (US)
- Intel (US)
- Microsoft (US)
- Peloton Technology (US)
- Nauto (US)
- Xevo (US)
- Zonar Systems (US)
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North America is estimated to dominate the artificial intelligence in transportation market. Factors such as strong financial position, shortage of truck drivers, strict government regulations for road safety, and presence of leading technology firms have made North America the largest market for artificial intelligence in transportation.
According to a New York Times report, the US government spent USD 4.00 billion in 2016 to accelerate the acceptance of autonomous vehicles on US roads.
The development of autonomous trucks is considered the key focus of the artificial intelligence technology in the transportation industry.
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In a fully autonomous truck, the system performs all driving functions on all road types, at all speed ranges and environmental situations. While fully autonomous trucks have not yet entered the market, several companies are planning to develop them in the near future.
The increasing concern for road accidents caused due to human error and a global shortage of truck drivers have accentuated the need for autonomous trucks.
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- Artificial intelligence hardware and software suppliers
- Raw material manufacturers of artificial intelligence system components
- Automotive OEMs
- Artificial intelligence service/solution providers
- Industry associations and connected vehicle systems manufacturers
- Government’s national and regional environmental regulatory agencies or organizations
- The automobile industry and related end-user industries
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The report provides a picture of the artificial intelligence in transportation market across different verticals and regions. It aims at estimating the market size and future growth potential of the artificial intelligence in transportation market, by application, offering, machine learning technology, process, region, and truck platooning market for artificial intelligence.
Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, competitive landscape, recent developments, and key market strategies.
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