AI in Transportation Market Value Chain and Stakeholder Analysis 2024 : Key Players Magna, Robert Bosch GmbH, Continental AG, Valeo SA, Alphabet Inc,, NVIDIA, Microsoft
Artificial intelligence is a computer operated task which involves human intelligence such as decision making. The global artificial intelligence in transportation market is growing at a significant rate due to mounting government regulation for vehicle safety and security and mounting implementation of enhanced driver assistance systems. Different process contributed to the artificial intelligence in transportation market size. The market has witnessed high demand for data mining in the coming years due to the mounting requirement for prognostic maintenance in transportation industry.
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The stringent government regulation for vehicle safety and security, mounting implementation of enhanced driver assistance systems and increasing emphasis towards decreasing the transportation costs are the primary growth drivers for artificial intelligence in transportation market. Advancement of autonomous vehicle by the implementation of safety features such as adaptive cruise control (ACC), advanced driver assistance system (ADAS), collision warning, and lane-keep assist is also facilitating the growth for the artificial intelligence in transportation market. For instance, several companies are capitalizing in the improvement of self-driving trucks.
Geographically, North America is the largest artificial intelligence in transportation market due to the high level of funding from the government. In addition, the region is home to leading technology companies, shortage of truck drivers and stringent government regulations for road safety are also facilitating the growth of the North American market.
In Addition, Asia-Pacific is observed to witness the fastest growth in the market due to a steadily growing population. In addition, robust economic growth, the shift of unorganized third-party logistics sector to organized sector and growing logistics and supply chain sector are also up surging growth of the Asia-Pacific artificial intelligence in transportation market.
Key players in the artificial intelligence in transportation market are catering to the demand by collaborating, and acquiring with small players and investing on technologically advanced EVs across the globe. In February 2018, NVIDIA partnered with Continental, to create AI self-driving vehicle systems constructed on the NVIDIA DRIVE platform and have planned the market introduction of the vehicle in 2021. Volvo Group, Scania Group, Man SE, Daimler AG, PACCAR Inc., Magna, Robert Bosch GmbH, Continental AG, Valeo SA, Alphabet Inc,, NVIDIA, Microsoft Corporation, ZF Friedrichshafen AG and Intel Corporation are the key players offering artificial intelligence in transportation.