Market Overview:
The global artificial intelligence (AI) in the freight transportation market is expected to grow at a CAGR of 16.5% during the forecast period from 2018 to 2030. The growth of this market can be attributed to the increasing demand for AI-enabled freight transportation solutions across different regions. The rising adoption of AI-enabled solutions by freight transportation service providers is also contributing to the growth of this market. The global artificial intelligence (AI) in the freight transportation market can be segmented on the basis of type, application, and region. On the basis of type, this market can be segmented into hardware and software. Hardware accounted for a major share of this market in 2017 and is expected to continue its dominance during the forecast period owing to its ability to provide enhanced performance and efficiency as compared with software solutions.
Product Definition:
The definition of artificial intelligence (AI) is the ability of a computer system to correctly understand natural language and to respond in a way that is similar to how a human would.
There are many different applications for artificial intelligence in freight transportation. For example, AI can be used to improve routing and scheduling decisions, as well as to optimize traffic flows. Additionally, AI can be used to help drivers make better choices while on the road, such as deciding when and where to stop for gas or food.
Hardware:
Hardware is the physical devices or components used to build a system or machine. In AI, hardware includes both input/output devices and processors. The growth factor for hardware in AI is its ability to provide high computational power along with large storage capacity and memory at an economical cost.
Software:
Software and its usage in Artificial Intelligence (AI) is the current trend in the freight transportation market. AI software has been used to automate several processes of freight transportation such as classification, order fulfillment, route planning, load calculation and optimization among others. The growing demand for self-driving trucks on account of reducing human errors is expected to be one of the key factors driving growth.
Application Insights:
The road freight transportation segment dominated the market in 2017 and is expected to maintain its dominance over the forecast period. The major factors contributing to this growth are increasing demand for trucks, improvement in road infrastructure, and availability of data on a large scale for training AI systems.
AI-enabled solutions help improve operational efficiency by reducing driver fatigue and improving communication between drivers and operators. It also helps reduce accidents by monitoring the vehicle¢â‚¬â„¢s surroundings through cameras installed at various positions such as windshield, roof top, doorways etc., thereby alerting about any object coming towards vehicle¢â‚¬â„¢s direction thereby avoiding possible accidents. Such advantages are expected to drive demand over the forecast period thus augmenting overall market growth across all regions during the study period.
Regional Analysis:
The Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region accounted for a share of more than 60% in terms of revenue owing to increasing investments by companies operating in various industries, such as manufacturing, e-commerce, healthcare & life sciences, transportation & logistics (T&L), and banking. Moreover, China has emerged as a hub for AI development with several companies focusing on developing innovative solutions using AI technology.
In October 2018; Huawei Technologies Co., Ltd., a Chinese telecommunication company launched an autonomous trucking project named Huaren autonomously driven semi-trailer trucks (ADST) program based on image recognition technology at Tianjin Binhai International Airport. The program is aimed at testing autonomous vehicles under real-world conditions across China with plans to expand it across other airports later this year.
Growth Factors:
- Increasing demand for AI-enabled freight transportation solutions from small and medium businesses (SMBs) due to the benefits of cost savings, improved efficiency, and enhanced customer service.
- The increasing popularity of AI-enabled chatbots in the freight transportation sector to provide a more personalized customer experience.
- Development of autonomous vehicles and drones for last-mile delivery that can reduce labor costs and improve efficiency.
- Proliferation of big data and analytics tools that can help identify patterns and trends in freight movement to optimize transportation planning decisions.
Scope Of The Report
Report Attributes
Report Details
Report Title
Artificial Intelligence (AI) in the Freight Transportation Market Research Report
By Type
Hardware, Software
By Application
Road Freight Transportation, Rail Freight Transportation, Air Freight Transportation, Ocean Freight Transportation
By Companies
Cargofy, FERO, KONUX
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
129
Number of Tables & Figures
91
Customization Available
Yes, the report can be customized as per your need.
Global Artificial Intelligence (AI) in the Freight Transportation Market Report Segments:
The global Artificial Intelligence (AI) in the Freight Transportation market is segmented on the basis of:
Types
Hardware, Software
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Road Freight Transportation, Rail Freight Transportation, Air Freight Transportation, Ocean Freight Transportation
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Cargofy
- FERO
- KONUX
Highlights of The Artificial Intelligence (AI) in the Freight Transportation Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Hardware
- Software
- By Application:
- Road Freight Transportation
- Rail Freight Transportation
- Air Freight Transportation
- Ocean Freight Transportation
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Artificial Intelligence (AI) in the Freight Transportation Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Artificial intelligence (AI) is a subset of machine learning that uses computer programs to make decisions, typically based on data. AI can be used in freight transportation to help automate decision-making processes and improve efficiency.
Some of the key players operating in the artificial intelligence (ai) in the freight transportation market are Cargofy, FERO, KONUX.
The artificial intelligence (ai) in the freight transportation market is expected to grow at a compound annual growth rate of 16.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Artificial Intelligence (AI) in the Freight Transportation Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Artificial Intelligence (AI) in the Freight Transportation Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Artificial Intelligence (AI) in the Freight Transportation Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Artificial Intelligence (AI) in the Freight Transportation Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Artificial Intelligence (AI) in the Freight Transportation Market Size & Forecast, 2018-2028 4.5.1 Artificial Intelligence (AI) in the Freight Transportation Market Size and Y-o-Y Growth 4.5.2 Artificial Intelligence (AI) in the Freight Transportation Market Absolute $ Opportunity
Chapter 5 Global Artificial Intelligence (AI) in the Freight Transportation Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Artificial Intelligence (AI) in the Freight Transportation Market Size Forecast by Type
5.2.1 Hardware
5.2.2 Software
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Artificial Intelligence (AI) in the Freight Transportation Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Artificial Intelligence (AI) in the Freight Transportation Market Size Forecast by Applications
6.2.1 Road Freight Transportation
6.2.2 Rail Freight Transportation
6.2.3 Air Freight Transportation
6.2.4 Ocean Freight Transportation
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Artificial Intelligence (AI) in the Freight Transportation Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Artificial Intelligence (AI) in the Freight Transportation Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Artificial Intelligence (AI) in the Freight Transportation Analysis and Forecast
9.1 Introduction
9.2 North America Artificial Intelligence (AI) in the Freight Transportation Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Artificial Intelligence (AI) in the Freight Transportation Market Size Forecast by Type
9.6.1 Hardware
9.6.2 Software
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Artificial Intelligence (AI) in the Freight Transportation Market Size Forecast by Applications
9.10.1 Road Freight Transportation
9.10.2 Rail Freight Transportation
9.10.3 Air Freight Transportation
9.10.4 Ocean Freight Transportation
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Artificial Intelligence (AI) in the Freight Transportation Analysis and Forecast
10.1 Introduction
10.2 Europe Artificial Intelligence (AI) in the Freight Transportation Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Artificial Intelligence (AI) in the Freight Transportation Market Size Forecast by Type
10.6.1 Hardware
10.6.2 Software
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Artificial Intelligence (AI) in the Freight Transportation Market Size Forecast by Applications
10.10.1 Road Freight Transportation
10.10.2 Rail Freight Transportation
10.10.3 Air Freight Transportation
10.10.4 Ocean Freight Transportation
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Artificial Intelligence (AI) in the Freight Transportation Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Artificial Intelligence (AI) in the Freight Transportation Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Artificial Intelligence (AI) in the Freight Transportation Market Size Forecast by Type
11.6.1 Hardware
11.6.2 Software
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Artificial Intelligence (AI) in the Freight Transportation Market Size Forecast by Applications
11.10.1 Road Freight Transportation
11.10.2 Rail Freight Transportation
11.10.3 Air Freight Transportation
11.10.4 Ocean Freight Transportation
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Artificial Intelligence (AI) in the Freight Transportation Analysis and Forecast
12.1 Introduction
12.2 Latin America Artificial Intelligence (AI) in the Freight Transportation Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Artificial Intelligence (AI) in the Freight Transportation Market Size Forecast by Type
12.6.1 Hardware
12.6.2 Software
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Artificial Intelligence (AI) in the Freight Transportation Market Size Forecast by Applications
12.10.1 Road Freight Transportation
12.10.2 Rail Freight Transportation
12.10.3 Air Freight Transportation
12.10.4 Ocean Freight Transportation
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Artificial Intelligence (AI) in the Freight Transportation Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Artificial Intelligence (AI) in the Freight Transportation Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Artificial Intelligence (AI) in the Freight Transportation Market Size Forecast by Type
13.6.1 Hardware
13.6.2 Software
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Artificial Intelligence (AI) in the Freight Transportation Market Size Forecast by Applications
13.10.1 Road Freight Transportation
13.10.2 Rail Freight Transportation
13.10.3 Air Freight Transportation
13.10.4 Ocean Freight Transportation
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Artificial Intelligence (AI) in the Freight Transportation Market: Competitive Dashboard
14.2 Global Artificial Intelligence (AI) in the Freight Transportation Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Cargofy
14.3.2 FERO
14.3.3 KONUX