The global artificial intelligence AI in transportation market is anticipated to grow at a CAGR of 15.1% during the forecast period (2024-2031). The growing adoption of AI-based optimization solutions drives the growth of the market. The increasing demand for advanced driver assistance systems across developed as well as developing nations increases demand for the AI in transportation industry. Market players providing solutions for AI and machine learning provide shippers and carriers with innovative ways to increase the efficiency of their transportation operations.
AI and machine learning bring carriers and shippers creative solutions for improving the effectiveness of their transportation business operations. Shippers can save time and money by using advanced technology, which expedites the process for carriers. For instance, in January 2024, RXO Inc. launched a brand-new AI-powered truck check-in solution for warehouses and distribution centres. the visual AI system uses video to identify vehicles and extracts picture and video data to expedite the security and check-in processes.
Browse the full report description of “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)” at https://www.omrglobal.com/industry-reports/ai-in-transportation-market
Various system uses AI-led object detection to identify humans and material handling equipment (MHE) in their route, boost safety culture, and deliver visual and audible notifications of potential hazards. For instance, in December 2023, Powerfleet, Inc. launched its next-generation Pedestrian Proximity Detection solution, a safety system that enhances pedestrian safety, proactively reduces accidents, and lessens damage to MHE in warehouses and manufacturing facilities.
To increase vision into yards, warehouses, retail spaces, and other areas beyond transportation. To move supply chain managers from making reactive to proactive decisions and achieve automated supply chain orchestration at scale, artificial intelligence (AI) marks a critical turning point. For instance, in September 2023, FourKites launched Fin AI, A novel natural language interface that aids users in discovering unseen insights, finding areas for optimization, and automating laborious chores. Fin AI helps clients automate labour-intensive processes and find areas for improvement in labor, transportation, inventory, and other areas.
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Offering
o By Process
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- includes AltexSoft Inc., Aurora Innovation Inc., General Motors, Intel Corp., NVIDIA Corp., and others.
Key questions addressed by the report
Global Artificial Intelligence AI in Transportation Market Report Segment
By Offering
By Process
By Application
Global Artificial Intelligence AI in Transportation Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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