The Road Ahead: Artificial Intelligence Transforms Transportation Market

Artificial intelligence is a computer-operated task that involves human intelligence such as decision making. The market is growing at a significant rate due to mounting government regulation for vehicle safety and security. The market has witnessed high growth for data mining in the past few years due to mounting requirement for prognostic maintenance in the transportation industry. Moreover, the artificial intelligence in transportation market is expected to register a significant growth rate over the forecast period.

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COVID-19 scenario analysis:

• Artificial Intelligence (AI) has played a significant role in the fight against COVID-19. Many vaccinations in the process of developing are being tested and better understood by AI.
• A drug that has been developed to fight other diseases could now be repurposed to treat coronavirus patients.
• AI helps many scientists to check patterns of vaccine with the virus as any vaccination has to pass numerous standard tests through AI before human trials.
• AI helps to better understand the structure of coronavirus. Therefore, this helps countries to cognize the spread of deadly viruses and to implement measures to curb the spread.

Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis

Advancement of autonomous vehicle and truck platooning is expected to boost the growth to the market during the forecast period. Moreover, high cost of artificial intelligence systems and infrastructure costs are the major challenges for the growth of the market. Furthermore, capacity problems, safety, reliability, environmental pollution, and wasted energy provide lucrative opportunities for AI innovation.

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The artificial intelligence in transportation market trends are as follows:

Advancement of autonomous vehicle:

AI is a key technology for autonomous driving systems as it is enables reliable and real-time recognition of objects around a vehicle. Currently, there are several investments specifically for the optimization of self-driving technology by major Original Equipment Manufacturers (OEM). Moreover, implementation of safety features, such as adaptive cruise control, Advanced Driver Assistance System (ADAS), collision warning, and lane-keep assist, also facilitates the growth of the artificial intelligence in transportation market.

Truck platooning:

Truck platooning is the link between two or more trucks, which are within the convoy using connectivity technology and automatic driving network. Artificial intelligence technologies, such as forward collision warning, sensor fusion, signal recognition, and lane-keep assist, are expected to boost the demand for truck platooning. Moreover, mounting environmental concerns, strict government regulations for emission, mounting fuel proficiency, and traffic congestion concerns have enhanced the growth of truck platooning in the market.

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Key benefits of the report:

• This study presents the analytical depiction of the artificial intelligence in transportation market along with current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the artificial intelligence in transportation market share.
• The current market is quantitatively analyzed to highlight the market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed analysis based on competitive intensity and how the competition will take shape in the coming years.

Questions answered in the artificial intelligence in transportation market research report:

• Which are the leading market players active in artificial intelligence in the transportation market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities of the market?
• What are the projections for the future that would help in taking further strategic steps?