AI in Transportation Market Outlook, Growth and Demand Forecast, 2013–2023

-

Global AI in transportation market is projected to reach $3.5 billion by 2023.
The growth of the market is majorly driven by the development of autonomous vehicles and increasing focus towards reducing the operating cost of transportation.

Based on offering, the global Artificial Intelligence in transportation market is categorized into hardware and software. Of these, the software category is estimated to account for a larger share in the global market, driven by the increasing use of software as a platform (such as the Microsoft Azure) in HMI applications. It is also expected to be the fastest growing category during the forecast period, with increasing application of software enabled AI features.
Major developments in AI in transportation are related to software. Companies such as IBM and Alphabet Inc. are investing heavily in AI software, which is benefiting the market of the category. Furthermore, the declining prices of hardware will increase the share of the software category in the AI in transportation market by 2023.
North America is estimated to account for the largest share in the global AI in transportation market, valued at more than 44.0% in 2017. The region includes developed countries such as the U.S. and Canada, which are prominent markets of AI in transportation. Government support and sales of long-haul and premium trucks are driving the market in the region.
Some of the major players operating in the AI in transportation industry are ZF Friedrichshafen AG, Robert Bosch GmbH, Continental AG, Valeo SA, NVIDIA Corporation, Intel Corporation, Microsoft Corporation, Alphabet Inc.
About P&S Intelligence
P&S Intelligence, a brand of P&S Market Research, is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
Contact:
P&S Intelligence
Toll-free: +1-888-778-7886 (USA/Canada)
International: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
Connect with us: LinkedIn | Twitter | Google + | Facebook

Comments

Post a Comment

Popular posts from this blog

Demand for Electric Bike Set for Stupendous Growth in China and Post 2020, Buoyed by the Global COVID-19 Pandemic

-
In the 1950s, less than 20% of the Chinese people were urban dwellers, and by 2018, this percentage had soared to 59%, as per the World Urbanization Prospects 2018 report of the United Nations (UN). This has led to a massive rise in the number of automobiles on the roads of China, in part, making it the largest carbon emitter in the world. As a result, its government has been strongly encouraging the public to adopt electric vehicles (EV) by implementing stringent emission regulations and offering purchase subsidies and tax rebates. Request to Get the Sample Report: https://www.psmarketresearch.com/market-analysis/china-electric-scooters-and-motorcycles-market/report-sample P&S Intelligence says that the increasing urbanization level, which is expected to touch almost 70% by 2030, will drive the electric bike market in China from $7.7 billion in 2017 to $12.5 billion by 2025, at a 6.1% CAGR during 2018–2025 (forecast period). As per the Health Effects Institute and Tsing...
Read more

India Electric Car Market Will See Strong Expansion Through 2025

-
Image
The air pollution levels in India have risen rapidly over the past few years. As per the Environmental Pollution Index 2018, the country is among the bottom five countries when environment health category is considered and ranked 178 out of 180, in terms of air quality. India’s carbon dioxide emissions rose by 4.6% in 2017. This surging emissions of ultra-fine particulate matter from fuel-based vehicles has caused the death of approximately 1,640,000 people in the country. In order to reduce the pollution, the government of the country is focusing on encouraging the utilization of electric vehicles. Owing to these factors, the demand for electric cars in India has risen considerably. According to a report by P&S Intelligence, the Indian electric car market is expected to generate a revenue of $707.4 million by 2025, rising from $71.1 million in 2017, and is projected to progress at a 34.5% CAGR during the forecast period (2018–2025). The different types of electric cars are hybr...
Read more

Logistics Industry is Expecting Major Tech Revolution in Near Future

-
Image
 The impact of COVID-19on the logistics industry has been quite negative, as the growth of the industry has slowed down due to the nationwide lockdown in most of the affected countries. Owing to the growth in e-commerce activities, increase in the disposable income of customers, and rapid urbanization in emerging economies, such as India and China, the logistics industry had been growing in recent years. Seeing the rising need for the transportation of goods, many new companies were entering the logistics space before the pandemic arrived. TheCOVID-19 impact analysis on the  logistics industry  reveals that trading activities between nations were discontinued to contain the spread of the virus, which disrupted the supply chain. For instance, the supply chain of China is operational across countries including India, South Korea, Japan, Hong Kong, Singapore, the U.K., Spain, Italy, and Germany, all of which are badly jolted by the pandemic. Apart from China, all t...
Read more