GNW • Which global factors are expected to impact the artificial intelligence market for automotive and transportation industry in the future? What are the key market strategies being adopted by them? Global Artificial Intelligence Market for Automotive and Transportation Industry Forecast, 2019-2029 In terms of value, the global artificial intelligence market for automotive and transportation industry is expected to grow at a CAGR of 13.12% during the forecast period 2019-2029. The growth in the market is attributable to the ongoing demand for innovative and technologically advanced automotive solutions. Moreover, intelligent solutions which reduce the incidences of human mistakes while driving, along with providing additional features for enhancing ease-of-driving, have driven the market.
The artificial intelligence in transportation market is projected to grow at a CAGR of 17.87% 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 increasing government regulations for vehicle safety, growing adoption of advanced driver assistance systems (ADAS), and development of autonomous vehicles play a significant role in the growth of this market.
The major factors propelling the growth of the Global Artificial Intelligence (AI) market include the rise in the adoption of cloud-based applications and services and the growth of big data across the globe. The advanced AI technologies is continuously enhancing the performance of economies, businesses and different industries. The growing demand for intelligent virtual assistants across different verticals in several industries will have a positive impact on the Global Artificial Intelligence (AI) market during the forecast period. The increased integration of image recognition technology with optical character recognition, pattern matching and face recognition in various end-use applications such as drones, self-driving cars and robotics will propel the growth of the artificial intelligence market during the forecast period. Various multinational giants are largely focusing on mergers and acquisitions with emerging start-ups in order to capture the highest market share and gain a competitive advantage over the other market players.
Self-driving vehicles are one of the most anticipated and exciting innovations in the world today. Driverless cars seemed like a sci-fi fantasy only a decade ago but they are fast becoming a reality as companies like auto manufacturers, ridesharing services, and tech companies race to develop a safe and reliable autonomous vehicle (AV). This article originally appeared in the Motley Fool. If the autonomous vehicle revolution lives up to the expectations of futurists and forecasters, its effects will be far-reaching. Not only will everyday commuting and transportation be transformed due to the rise of "mobility as a service" -- as the driverless revolution has been called -- but a wide range of industries will also be changed for better or worse as they adapt to a world where people can easily move from one destination to another in computerized pods. Just as the cloud has led to the transition of computing as a scalable service rather than a concrete product like hardware, analysts see a similar evolution with self-driving cars.
The global autonomous agents market is expected to grow at a CAGR of 55.15% during the forecast period, 2019–2026. The pervasiveness of artificial intelligence is inciting the demand for autonomous agents across the globe. An autonomous agent, also known as an intelligent agent, operates and is enabled to act and react in a dynamic working environment. These agents could work independently or collaboratively, providing solutions to complex problems. Autonomous agents range from smartphone applications to autonomous robots such as shopping bots, personal agents, monitoring and surveillance agents, and data mining agents, among others.