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Submitted 2019-01-25 07:33:26 Global Artificial Intelligence (AI) in Transportation Market was valued at US$ 2.57 Bn in 2017 and is expected to reach US$ 12.84 Bn by 2026 Lions Jeff Okudah Jersey , at a CAGR of 22.28% during a forecast period.
Global Artificial Intelligence (AI) in Transportation Market
Major driving factors of the Artificial Intelligence (AI) in Transportation Market are the transportation problems are the rising system behaviour with difficult to model according to a predictable pattern, affecting by things like traffic, human errors, or accidents.
In such cases, the unpredictability can be aided by AI. Safety when traveling by transport in urban areas is improved by tracking crime data in real time. The road freight transport system is utilizing accurate prediction methods to forecast their volume using AI methods. several decision-making tools for transport are designed and run by AI. Costs of labour in this sector will continually decrease with increased use of AI Lions Julian Okwara Jersey , providing higher profits for industry players. Funding and Budgeting will act as a restraint to the market.
Based on the Offering, Software is expected to hold the largest share in the market during the forecast period. Customers are investing in Automotive applications based on new features and capabilities that are expected.
Standardization of product offerings and the use of open-source platforms to reduce the cost of application and firmware development. New trend is to accelerate in the coming years, seeing the wide-scale development of ever more electric, automated and interconnected cars. the manufacturers are also concentrating on providing PC-like functionality in the vehicle infotainment systems and are focusing on using software.
For each of development axes, software has become a major and transversal component and is now indispensable to prevent accidents and malfunction risks.
In Process Lions John Penisini Jersey , The Signal Recognition segment is also expected for significant growth rate during the forecast period.
In terms of region, Asia Pacific is expected to hold the largest share in the market during the forecast period. he APAC region holds 60% of the world鈥檚 population and, therefore, any major technological shifts like those being heralded by AI are likely to shape the future of the region. While China is leading most of the headlines, countries like Japan Lions Jashon Cornell Jersey , South Korea, India, Taiwan, and Singapore have also shifted their focus toward AI.
The public sector is expected to be one of the biggest beneficiaries of AI in APAC. The top industries for AI adoption are identified along with profiles of the key vendors in the AI market ecosystem in the region. North America region is also expected to grow at a significant rate during the forecast period.
The report includes a detailed study of Porter鈥檚 Five Forces model to analyze the different factors affecting the growth of the market. Moreover, the study also covers a market attractiveness analysis Lions Logan Stenberg Jersey , brand portfolio expansion, mergers, collaborations, joint ventures, acquisitions Lions Jonah Jackson Jersey , PESTLE analysis, Value Chain Analysis, and SWOT analysis.
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