NEW YORK, Nov. 21, 2017 /PRNewswire/ --
"The rising number of accidents due to human error and
increasing focus toward reducing transportation operating cost will
fuel the demand for the artificial intelligence in transportation
market"
Read the full report: https://www.reportlinker.com/p05210110
The 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. The development of autonomous vehicles and
industry-wide standards to implement safety features such as the
adaptive cruise control (ACC), collision warning, lane-keep assist,
and advanced driver assistance systems (ADAS) would drive the
growth of the artificial intelligence in transportation market.
Also, the growing demand for convenience and safety has created an
opportunity for OEMs to develop new and innovative artificial
intelligence systems that would attract customers. At the same
time, the high cost of artificial intelligence systems and lack of
infrastructure development have been major obstacles to the growth
of the artificial intelligence in transportation market.
"The market for autonomous trucks is estimated to witness the
fastest growth in the artificial intelligence in transportation
market"
The development of autonomous trucks is considered the key focus of
the artificial intelligence technology in the transportation
industry. 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.
"The market for deep learning technology is estimated to hold
the largest share in the artificial intelligence in transportation
market"
The increasing adoption of autonomous and semi-autonomous vehicles
is driving the market for deep learning technology in the
artificial intelligence in transportation market. Deep learning
technology uses artificial neural networks to study multiple levels
of data such as images, text, and sound. Deep learning technology
thrives on data. In this technology, a large amount of data and
experiences needs to be fed. This helps to identify and generalize
the patterns experienced from the data and helps to drive safely.
The autonomous vehicle needs to see, think, drive, and learn. Many
companies are investing in the development of autonomous vehicles
in which the deep learning technology is used for image processing,
speech recognition, and data analysis. Presently, the deep learning
technology is used in object detection, advanced driver assistance
system (ADAS), crash avoidance, and vehicle telematics control
using speech recognition and others.
"North America: The largest
region in the artificial intelligence in transportation
market"
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 US accounts for the largest share of the North American
artificial intelligence in transportation market. The demand and
sales of commercial vehicles are expected to grow in the US in the
future. Most of the vehicles in the US are equipped with advanced
features such as adaptive cruise control, lane departure, warning
systems, voice recognition system, gesture recognition, and blind
spot detection. These factors would contribute to the growth of
artificial intelligence in transportation market in this region
during the forecast period.
BREAKDOWN OF PRIMARIES
The study contains insights provided by various industry experts,
ranging from automotive OEMs to artificial intelligence technology
providers.
The breakdown of the primaries is as follows:
• By Company Type: OEMs—20%, Tier-II—50%, and Tier-I—30%
• By Designation: D level—20%, C level—45%, and Others**—35%
• By Region: Asia Oceania—38%, North America—12%, Europe—25%, and
RoW—25%
Note: Tier-I are hardware suppliers, Tier-II are service/solution
providers
**Others include researchers, consultants, and sales
managers/marketing managers.
Company tiers are based on the value chain; revenue of the company
has not been considered.
The report provides detailed profiles of the following
companies:
• Continental (Germany)
• Daimler (Germany)
• Scania (Sweden)
• Paccar (US)
• MAN (Germany)
• Magna International (Canada)
• Bosch (Germany)
• Valeo (France)
• ZF Friedrichshafen (Germany)
• NVIDIA (US)
• Alphabet (US)
• Intel (US)
• Microsoft (US)
• Peloton Technology (US)
• Nauto (US)
• Xevo (US)
• Zonar Systems (US)
Research Coverage:
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.
Reasons to Buy the Report:
The report provides insights into the following points:
• Market Penetration: The report provides comprehensive information
on artificial intelligence technologies offered by the top players
in the industry.
• Market Development: The report provides comprehensive information
on various artificial intelligence technology trends. The report
analyzes the markets for various artificial intelligence in
transportation technologies across the countries.
• Market Diversification: The report provides exhaustive
information about emerging technologies, recent developments, and
investments in the global artificial intelligence in transportation
market.
• Competitive Landscape: The report offers an in-depth assessment
of recent developments of the supply chain players which include
OEMs, software/solution providers, Tier-1 companies, and
startups.
Read the full report: https://www.reportlinker.com/p05210110
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