AI in Transportation Market
AI in Transportation Market Size, Share & Trends Analysis Report by Offering (Hardware and Software), by Process (Signal Recognition, Object Recognition, and Data Mining), and by Application (Traffic Management, Road Safety and Security, Parking Management, Automotive Telematics and Other), Forecast Period (2024-2031)
AI in transportation market is anticipated to grow at a CAGR of 12.1% during the forecast period (2024-2031). The growing adoption of generative AI with improving machine learning models is the key factor supporting the growth of the market globally. The impact of generative AI in the connected transportation landscape has been recognized in data intelligence and AI, leveraging artificial intelligence and machine learning models. The market players are also focusing on introducing AI-based generative solutions in transportation that further bolster the market growth. For instance, in June 2023, Geotab Inc. announced that it introduced generative AI models into its platform by setting a new machine learning models in the connected transportation industry. By increasing the standard for connected transportation by giving participating consumers easy access to on-demand information about the efficiency, sustainability, and performance of their vehicles.
Segmental Outlook
The global AI in transportation market is segmented on the offering, process, and application. Based on the offering, the market is sub-segmented into hardware and software. Based on the process, the market is sub-segmented into signal recognition, object recognition, and data mining. Further, based on application, the market is sub-segmented into traffic management, road safety and security, parking management, automotive telematics, and other applications (license plate recognition). Among the offerings, the software sub-segment is anticipated to hold a considerable share of the market owing to the development of advanced software for predictive fleet maintenance using IoT and AI technologies.
The Automotive Telematics Sub-Segment is Anticipated to Hold a Considerable Share of the Global AI in Transportation Market
Among the applications, the automotive telematics sub-segment is expected to hold a considerable share of the global AI in the transportation market. The segmental growth is attributed to the increasing adoption of AI-based integrated solutions for transportation fleet operators. Transportation fleet operators convert their fleets into energy and mixed fuel operations and work to improve compliance, productivity, and safety. For instance, in October 2023, Teletrac Navman US Ltd. launched TN360 Transport– an AI-based integrated solution focused on the needs of the transport industry. The platform provides a wide range of effective features that are intended to improve fleet operations' sustainability, assure compliance standards, expedite operations, and improve safety.
Regional Outlook
The global AI in transportation market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, Asia-Pacific is anticipated to hold a prominent share of the market across the globe, owing to the growing adoption of AI in transportation to minimize traffic congestion, increase passenger safety, and reduce the risk of accidents.
Global AI in Transportation Market Growth, by Region 2024-2031
The North America Region is Expected to Grow at a Significant CAGR in the Global AI in Transportation Market
Among all regions, the North American region is anticipated to grow at a considerable CAGR over the forecast period. Regional growth is attributed to the growing adoption of AI-based technology to optimize transportation and improve the overall efficiency of the transportation system. Market players provide technology-based transportation solutions by improving road safety, optimizing traffic signal timing, enhancing last-mile delivery, and providing market insights. For instance, in November 2023, INRIX, Inc. launched INRIX Compass, an innovative AI-powered technology for transportation intelligence. Compass employs generative artificial intelligence (GenAI) and INRIX's roughly 50-petabyte data lake to identify root causes, provide proactive recommendations, and effectively handle transportation-related issues.
Market Players Outlook
The major companies serving the global AI in the transportation market include AltexSoft Inc., Aurora Innovation Inc., General Motors, Intel Corp., NVIDIA Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in June 2021, Cubic Corp. announced its Cubic Transportation Systems (CTS) business division partnership with CVEDIA scale deep learning models for GRIDSMART omnidirectional cameras and other intelligent transportation systems (ITS) solutions.
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global AI in transportation market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Aurora Innovation Inc.
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Intel Corp.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. NVIDIA Corp.
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Key Strategy Analysis
4. Market Segmentation
4.1. Global AI in Transportation Market by Offering
4.1.1. Hardware
4.1.2. Software
4.2. Global AI in Transportation Market by Process
4.2.1. Signal Recognition
4.2.2. Object Recognition
4.2.3. Data Mining
4.3. Global AI in Transportation Market by Application
4.3.1. Traffic Management
4.3.2. Road Safety and Security
4.3.3. Parking Management
4.3.4. Automotive Telematics
4.3.5. Other Applications (License Plate Recognition)
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. A.I. Tech srl
6.2. AltexSoft Inc.
6.3. Aptiv PLC
6.4. Aurora Innovation Inc.
6.5. Embark Trucks, Inc.
6.6. Ericsson Group
6.7. General Motors
6.8. Kyndryl Inc.
6.9. Mobileye Global Inc.
6.10. Nuro, Inc.
6.11. Oxa Autonomy Ltd.
6.12. PlusAI, Inc.
6.13. Pony.ai
6.14. PTV Planung Transport Verkehr GmbH
6.15. Tesla, Inc.
6.16. TuSimple Holdings, Inc.
6.17. Uber Technologies Inc.
6.18. Waymo LLC
1. GLOBAL AI IN TRANSPORTATION MARKET RESEARCH AND ANALYSIS BY OFFERING, 2023-2031 ($ MILLION)
2. GLOBAL AI HARDWARE IN TRANSPORTATION MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
3. GLOBAL AI SOFTWARE IN TRANSPORTATION MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
4. GLOBAL AI IN TRANSPORTATION MARKET RESEARCH AND ANALYSIS BY PROCESS, 2023-2031 ($ MILLION)
5. GLOBAL AI IN SIGNAL RECOGNITION MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
6. GLOBAL AI IN OBJECT RECOGNITION MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
7. GLOBAL AI IN DATA MINING MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
8. GLOBAL AI IN TRANSPORTATION MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
9. GLOBAL AI IN TRAFFIC MANAGEMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
10. GLOBAL AI IN ROAD SAFETY AND SECURITY MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
11. GLOBAL AI IN PARKING MANAGEMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
12. GLOBAL AI IN AUTOMOTIVE TELEMATICS MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
13. GLOBAL AI IN OTHER TRANSPORTATION APPLICATION MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
14. GLOBAL AI IN TRANSPORTATION MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
15. NORTH AMERICAN AI IN TRANSPORTATION MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
16. NORTH AMERICAN AI IN TRANSPORTATION MARKET RESEARCH AND ANALYSIS BY OFFERING, 2023-2031 ($ MILLION)
17. NORTH AMERICAN AI IN TRANSPORTATION MARKET RESEARCH AND ANALYSIS BY PROCESS, 2023-2031 ($ MILLION)
18. NORTH AMERICAN AI IN TRANSPORTATION MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
19. EUROPEAN AI IN TRANSPORTATION MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
20. EUROPEAN AI IN TRANSPORTATION MARKET RESEARCH AND ANALYSIS BY OFFERING, 2023-2031 ($ MILLION)
21. EUROPEAN AI IN TRANSPORTATION MARKET RESEARCH AND ANALYSIS BY PROCESS, 2023-2031 ($ MILLION)
22. EUROPEAN AI IN TRANSPORTATION MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
23. ASIA-PACIFIC AI IN TRANSPORTATION MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
24. ASIA-PACIFIC AI IN TRANSPORTATION MARKET RESEARCH AND ANALYSIS BY OFFERING, 2023-2031 ($ MILLION)
25. ASIA-PACIFIC AI IN TRANSPORTATION MARKET RESEARCH AND ANALYSIS BY PROCESS, 2023-2031 ($ MILLION)
26. ASIA-PACIFIC AI IN TRANSPORTATION MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
27. REST OF THE WORLD AI IN TRANSPORTATION MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
28. REST OF THE WORLD AI IN TRANSPORTATION MARKET RESEARCH AND ANALYSIS BY OFFERING, 2023-2031 ($ MILLION)
29. REST OF THE WORLD AI IN TRANSPORTATION MARKET RESEARCH AND ANALYSIS BY PROCESS, 2023-2031 ($ MILLION)
30. REST OF THE WORLD AI IN TRANSPORTATION MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
1. GLOBAL AI IN TRANSPORTATION MARKET RESEARCH AND ANALYSIS BY OFFERING, 2023 VS 2031 (%)
2. GLOBAL AI HARDWARE IN TRANSPORTATION MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
3. GLOBAL AI SOFTWARE IN TRANSPORTATION MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
4. GLOBAL AI IN TRANSPORTATION MARKET RESEARCH AND ANALYSIS BY PROCESS, 2023 VS 2031 (%)
5. GLOBAL AI IN SIGNAL RECOGNITION MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
6. GLOBAL AI IN OBJECT RECOGNITION MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
7. GLOBAL AI IN DATA MINING MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
8. GLOBAL AI IN TRANSPORTATION MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023 VS 2031 (%)
9. GLOBAL AI IN ROAD SAFETY AND SECURITY MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
10. GLOBAL AI IN PARKING MANAGEMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
11. GLOBAL AI IN AUTOMOTIVE TELEMATICS MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
12. GLOBAL AI IN OTHER TRANSPORTATION APPLICATION MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
13. GLOBAL AI IN TRANSPORTATION MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
14. US AI IN TRANSPORTATION MARKET SIZE, 2023-2031 ($ MILLION)
15. CANADA AI IN TRANSPORTATION MARKET SIZE, 2023-2031 ($ MILLION)
16. UK AI IN TRANSPORTATION MARKET SIZE, 2023-2031 ($ MILLION)
17. FRANCE AI IN TRANSPORTATION MARKET SIZE, 2023-2031 ($ MILLION)
18. GERMANY AI IN TRANSPORTATION MARKET SIZE, 2023-2031 ($ MILLION)
19. ITALY AI IN TRANSPORTATION MARKET SIZE, 2023-2031 ($ MILLION)
20. SPAIN AI IN TRANSPORTATION MARKET SIZE, 2023-2031 ($ MILLION)
21. REST OF EUROPE AI IN TRANSPORTATION MARKET SIZE, 2023-2031 ($ MILLION)
22. INDIA AI IN TRANSPORTATION MARKET SIZE, 2023-2031 ($ MILLION)
23. CHINA AI IN TRANSPORTATION MARKET SIZE, 2023-2031 ($ MILLION)
24. JAPAN AI IN TRANSPORTATION MARKET SIZE, 2023-2031 ($ MILLION)
25. SOUTH KOREA AI IN TRANSPORTATION MARKET SIZE, 2023-2031 ($ MILLION)
26. REST OF ASIA-PACIFIC AI IN TRANSPORTATION MARKET SIZE, 2023-2031 ($ MILLION)
27. REST OF THE WORLD AI IN TRANSPORTATION MARKET SIZE, 2023-2031 ($ MILLION)
