Global Artificial Intelligence in Transportation Market Growth 2024, Forecast To 2033

The artificial intelligence (AI) market in transportation has experienced rapid expansion, escalating from $3.11 billion in 2023 to $3.71 billion in 2024, showcasing a notable 19.4% Compound Annual Growth Rate (CAGR). This growth stems from the deployment of cameras and sensors for collision prevention, real-time information analysis through AI, utilization of high-performance computing and deep learning systems, increased access to big data for AI model training, and a growing focus on automation for enhanced safety and efficiency. Anticipated in the coming years is a substantial surge in the AI in transportation market, reaching $7.54 billion by 2028 with a consistent 19.4% CAGR. This expansion is attributed to the broadening scope of AI applications in supply chain and logistics, the rising adoption of AI in autonomous vehicle development, integration of AI in multimodal transportation planning, and increased utilization for real-time route optimization and traffic prediction. Notable trends include the development of AI-powered Mobility-as-a-Service (MaaS) platforms, an emphasis on explainable AI for transparent decision-making, AI's role in personalized in-vehicle experiences, tailored AI solutions for specific transportation modes and industries, and collaborative efforts between AI developers and transportation stakeholders.