Dublin, Feb. 20, 2023 (GLOBE NEWSWIRE) -- The "United Kingdom AI in Transportation Market By Machine Learning Technology (Computer Vision, Context Awareness, Deep Learning, Natural Language Processing), By Process, By Application, By Offering, By Region, Competition Forecast & Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering.
United Kingdom AI in the transportation market is anticipated to register growth with an impressive CAGR in the forecast period, 2023-2027
The market growth can be attributed to increasing demand for traffic regulations. A surge in the adoption of artificial intelligence and the internet of things in the automotive and related services further drives the growth of the United Kingdom AI in the transportation market in the upcoming five years.
Increasing advancement in the technology incorporated in the automotive, surging investment in the development of these technologies further supports the growth of the United Kingdom AI in the transportation market in the next five years.
Artificial intelligence has penetrated almost all sorts of technological products and increasing dependency on technical prospects enhances product value as well as making consumers' issues sorted.
The use of AI and IoT (Internet of Things) in automobiles has revolutionized the automotive industry. AI has the potential to make traffic more efficient, ease traffic congestion, free driver's time, make parking easier, and encourage car- and ridesharing.
Advancements of Self-Driving Vehicles Promises Market
The emergence of advanced technology in the automotive fuel the growth of the United Kingdom AI in the transportation market in the upcoming five years.
Digital technology plays a pivotal role in influencing consumers' potential buyers of premium and executive vehicles. The added services of vehicle safety, traffic management, and on-road vehicle modulation further substantiate the growth of the United Kingdom AI in the transportation market in the next five years.
Furthermore, rapid growth in vehicle data generation, unrestricted access to computing resources, and a substantial reduction in the cost of data storage give potential to the already expanding market in the future years.
Road Accidents & High Traffic Problems Fuel Demands For Technology Adaption
Increasing instances of human mistakes while parking or other vehicular functions leads to increased cases of on-road accidents. Also, with the high population and growing sales of passenger cars, and personal vehicles, the rising disposable income of the market adds to the growing traffic congestion on road. In the year 2021, more than 1.6 million units of automobiles were sold in the United Kingdom.
Since the adaptation of advanced traffic management systems is a must in recent times, the future holds great opportunities for the market players providing the services for AI in transportation thereby aiding the growth of the United Kingdom AI in the transportation market in the future five years. The data thus collected during the traffic management also needs to be managed then further adding to the growth of the market.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in United Kingdom AI in the transportation market.
- Daimler AG
- Robert Bosch GmbH
- Intel Corporation
- Continental AG
- The Volvo Group
- ZF Friedrichshafen AG
- Magna International Inc.
- Valeo
- Nvidia Corporation
- Scania AB
Report Scope:
United Kingdom AI in Transportation Market, By Machine Learning Technology:
- Computer Vision
- Context Awareness
- Deep Learning
- Natural Language Processing
United Kingdom AI in Transportation Market, By Process:
- Data Mining
- Image Recognition
- Signal Recognition
United Kingdom AI in Transportation Market, By Application:
- Autonomous Trucks
- HMI in Trucks
- Semi-Autonomous Trucks
United Kingdom AI in Transportation Market, By Offering:
- Hardware
- Software
United Kingdom AI in Transportation Market, By Region:
- London
- East Anglia
- Southwest
- Southeast
- Scotland
- East Midlands
- Yorkshire & Humberside
For more information about this report visit https://www.researchandmarkets.com/r/w693iz-kingdom-ai?w=12
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