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.
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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.
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- Market Coverage
- Market number available for – 2024-2030
- Base year- 2023
- Forecast period- 2024-2030
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global AI in Transportation Market by Offering
- Hardware
- Software
Global AI in Transportation Market by Process
- Signal Recognition
- Object Recognition
- Data Mining
Global AI in Transportation Market by Application
- Traffic Management
- Road Safety and Security
- Parking Management
- Automotive Telematics
- Other Applications (License Plate Recognition)
Regional Analysis
- 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
Company Profiles
- I. Tech srl
- AltexSoft Inc.
- Aptiv PLC
- Aurora Innovation Inc.
- Embark Trucks, Inc.
- Ericsson Group
- General Motors
- Kyndryl Inc.
- Mobileye Global Inc.
- Nuro, Inc.
- Oxa Autonomy Ltd.
- PlusAI, Inc.
- ai
- PTV Planung Transport Verkehr GmbH
- Tesla, Inc.
- TuSimple Holdings, Inc.
- Uber Technologies Inc.
- Waymo LLC
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.
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