AI in Transportation Industry Opportunities, Driving Forces, COVID-19 Impact Analysis, Future Potential

1. AI in Transportation Market Segments, Size, Industry Analysis and Opportunities 2023 1 ©P&SIntelligence.Allrightsreserved

2. Burgeoning adoption of autonomous vehicles is one of the major factors propelling the demand for the incorporation artificial intelligence (AI) in transportation sector. In autonomous vehicles, AI is an important technology for autonomous driving systems, owing to its ability to allow real-time and reliable recognition of objects around the vehicle. In addition to this, the automotive industry is also witnessing soaring investments for the development and optimization of self-driving technology, by major original equipment manufacturers (OEMs). For instance, Tesla Inc. launched a sleek electric semi-truck equipped with semi-autonomous capabilities for the first time in November, 2017. Request to Get the Sample Report@ https://www.psmarketresearch.com/market-analysis/ai- in-transportation-market/report-sample Due to the above-mentioned factor, the global AI in transportation market is expected to increase its revenue from $ 1.4 billion in 2017 to $ 3.5 billion by 2023, demonstrating a CAGR of 16.5% during the forecast period (2018–2023) . AI brings with it numerous useful features and advantages such as advanced navigation, adaptive cruise control (ACC), and automatic emergency braking (AEB), which play a major role in reducing the overall transportation and vehicle maintenance costs. Moreover, these advanced AI-powered systems also help in reducing road congestion, improving vehicle performance and providing higher driver safety. Globally, North America is predicted to observe the highest adoption of AI in the transportation sector during the forecast period. This is mainly ascribed to the fact that trucks are the mostly widely used vehicles in the US and so, the mushrooming investments on autonomous trucks will boost the adoption of AI-powered systems in them in the coming years. Moreover, the soaring regulatory developments in the country, pertaining to compliance, safety, and accountability (CSA) will lead to higher integration of AI-based systems in the vehicles. Thus, it is clear that due to the ballooning need for autonomous vehicles and the soaring investments made by the governments and private companies across the globe, for the development of vehicles equipped with advanced AI-driven systems, the demand for AI in the transportation sector will surge in future. This study covers Historical and the present size of the AI in Transportation Market Major factors driving the market and their impact during the short, medium, and long terms Market restraints and their impact during the short, medium, and long terms Recent trends and evolving opportunities for the market participants Historical and the present size of the market segments and understand their comparative future potential Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings

3. Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders Major players operating in the market and their service offerings Recent strategic developments by the major players in the market 3 ©P&SIntelligence.Allrightsreserved

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