Artificial Intelligence in the Transportation Sector Statistics 2021

The transportation industry is currently going through a major phase of evolution with the introduction of autonomous trucks application.

Autonomous trucks are self-driven vehicles that are capable of sensing the environment and navigate to the destination without any human intervention. Also, these vehicles can be operated through voice commands.

Artificial intelligence in the transportation market is projected to grow at a CAGR of 17.87 percent during the forecast period from 2017 to 2030, and the market size is expected to grow from USD 1.21 billion in 2017 to USD 10.30 billion by 2030.

The development of autonomous vehicles and industry-wide standards to implement safety features such as adaptive cruise control (ACC), collision warning, lane-keep assist, and advanced driver assistance systems (ADAS) would trigger the growth of artificial intelligence in the transportation market.

Artificial intelligence and machine learning technologies such as deep learning, computer vision, context awareness, and natural language processing will be the key growth drivers for the development of autonomous trucks.

An autonomous truck may prove to be the next big evolution in transportation. Several major companies such as Volvo, Daimler, Scania, and DAF are developing and testing autonomous trucks.

For a truck to be completely autonomous, many systems such as cameras, radar sensors, and GPS must collaborate to provide a safe ride.

Software companies such as NVIDIA, Intel, and Google are also focusing on the development of software for autonomous trucks.

The governments of different countries are also making efforts toward autonomous operations. The NHTSA has mandated the use of rearview cameras in vehicles in the USA.

On 13th July 2009, the European Parliament made blind spot detection systems mandatory for all trucks to improve vehicle safety.

The software segment is estimated to hold the largest share of artificial intelligence in the transportation market.

The software segment is estimated to hold the largest market share of artificial intelligence in the transportation market in 2017.

In recent years, major developments have occurred in AI software solutions, platforms, and related software development kits. These developments have taken place due to the need for advancement in the areas of object perception, machine translation, and object recognition.

Companies such as Alphabet (US), Microsoft (US), IBM (US), and Intel (US) are among the frontrunners in the development of AI software. All these companies are acquiring or investing heavily in start-ups to maintain a strong position in artificial intelligence in the transportation market.

In March 2017, Intel (US) acquired Mobileye (Israel) for approximately USD 15 billion. Software for deep learning technology has a major share in AI in the transportation market.

Therefore, the need for advancement in autonomous trucks has led to a large amount of funding for various start-ups in the North American region.

Key Players of Artificial Intelligence in the Transportation Market

• Volvo (Sweden)

• Daimler (Germany)

• Scania (Sweden)

• Bosch (Germany)

• Intel (USA)

• NVIDIA (USA)

The data mining process is estimated to be the fastest-growing segment of artificial intelligence in the transportation market

The data mining segment is projected to grow at the highest rate during the forecast period from 2017 to 2030.

A huge amount of data, collected from different sensors used in semi-autonomous or autonomous trucks, can be used to train the trucks to detect or recognize images, obstacles, and various scenarios one might encounter behind the wheel. Autonomous trucks have the potential of collecting more data from the outside environment and, hence, data mining will be of great importance in autonomous trucks.

The North American region is estimated to have the largest market for data mining as the trucking industry has a huge influence on its economy. Similarly, the growing demand for predictive maintenance in the transportation industry would boost the growth of the data mining process in the near future.

Target Audience of Artificial Intelligence in the Transportation Market

• Artificial intelligence hardware and software suppliers

• Raw material manufacturers of artificial intelligence system components

• Automotive OEMs

• Artificial intelligence service/solution providers

• Industry associations and connected vehicle systems manufacturers

• Government’s national and regional environmental regulatory agencies or organizations

• The automobile industry and related end-user industries

Artificial Intelligence in Transportation Market, By Machine Learning Technology

• Deep Learning

• Computer Vision

• Context Awareness

• Natural Language Processing

North America is estimated to be the leading market for artificial intelligence in transportation.

Transportation plays a significant role in the North American economy.

According to American Trucker Association, there are 8.7 million truck-related jobs in the US, and the country still faces a shortage of truck drivers. Hence, major developments related to the autonomous driving of trucks are taking place in this country.

Additionally, incentives and a high level of funding from the government play a major role in the development of this technology. For instance, in 2016, the US government spent USD 4.00 billion to accelerate the acceptance of autonomous vehicles on US roads.

Also, the Central North American Trade Corridor Association is planning to develop a driverless truck corridor from Mexico to Manitoba.

Also, the region is home to leading technology companies such as Microsoft (US), Intel (US), and NVIDIA (US), which offer various AI technologies for vehicles in partnership with OEMs. Therefore, the North American region has great potential for the growth of artificial intelligence in the transportation market.

The installation of advanced features such as blind-spot detection, lane assist system, adaptive cruise control, and collision warning system increases the overall cost of the vehicle. The artificial intelligence-enabled smart transportation needs surroundings that understand it, and this, in turn, is expected to increase the cost of developing the infrastructure.

The infrastructure should be able to adapt to the technological advancements taking place in the vehicle and support them for smooth functioning.