AI in Transportation Market

komal boudhh

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AI in Transportation Market Research Report by Offerings (Hardware, Software), IoT communication Technologies. It has been estimated that the valuation of the market will grow from USD 1.2 Bn in 2017 to USD 3.07 Bn by the end of 2023. The strong value maintained by the transportation industry has paved the way for the swift adoption of AI. The rising need for vehicle and driver safety due to increasing road accidents have catalyzed the demand for AI in transportation. Additionally, the developed country-level markets have already started the production of autonomous cars, which is projected to have a positive influence on the market growth.

The ongoing industry trend of truck platooning coupled with the growing applications of AI in railway cargo transportation is predicted to accelerate the revenue creation for the market participants over the next couple of years. However, security concerns associated with the handling of transportation data and the lack of supportive infrastructure for AI enabled vehicles remains a challenge to the market proliferation.Learn more