The global artificial intelligence (AI) in transportation market is projected to reach $3.5 billion by 2023. Due to the rising concerns for vehicle and driver safety, increasing focus on lowering the transportation costs, and advancements in autonomous vehicles, the artificial intelligence (AI) in transportation market is witnessing significant growth. In 2017, the market valued at $1.4 billion, and it is predicted to generate a revenue of $3.5 billion by 2023, exhibiting a CAGR of 16.5% during the forecast period (2018–2023). AI in transportation involves the use of computer vision, deep learning, and natural language processing technologies. Video camera, radio detection and ranging (RADAR) sensors, and light detection and ranging (LiDAR) equipment are some of the AI-based hardware installed in fully autonomous vehicles which are under trial.
Feb-16-2020, 12:37:32 GMT