The global artificial intelligence in transportation market is growing at a significant rate due to mounting government regulation for vehicle safety and security and mounting implementation of enhanced driver assistance systems. Different process contributed to the artificial intelligence in transportation market size. The market has witnessed high demand for data mining in the coming years due to the mounting requirement for prognostic maintenance in transportation industry.
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On the basis of application, the market is subdivided into autonomous trucks, semi-autonomous trucks and HMI in the truck. Among all applications, the autonomous trucks are expected to grow at the fastest rate and accounted the largest share in the artificial intelligence in transportation market.
The stringent government regulation for vehicle safety and security, mounting implementation of enhanced driver assistance systems and increasing emphasis towards decreasing the transportation costs are the primary growth drivers for artificial intelligence in transportation market.
North America is the largest artificial intelligence in transportation market due to the high level of funding from the government. In addition, the region is home to leading technology companies, shortage of truck drivers and stringent government regulations for road safety are also facilitating the growth of the North American market.
Volvo Group, Scania Group, Man SE, Daimler AG, PACCAR Inc., Magna, Robert Bosch GmbH, Continental AG, Valeo SA, Alphabet Inc,, NVIDIA, Microsoft Corporation, ZF Friedrichshafen AG and Intel Corporation are the key players offering artificial intelligence in transportation.
Source: VynZ Research