AI in Commercial Vehicles Market to Grow 2024-2029: Driven by Telematics, Connected Fleets, E-Commerce, and Safety Innovations
The commercial vehicles (CV) industry is undergoing a significant transformation driven by artificial intelligence (AI), according to a new report by ResearchAndMarkets.com titled "AI and its Application in the Commercial Vehicles Market, Global, 2024-2029." The study highlights how AI is reshaping every stage of the commercial vehicle life cycle, from design and manufacturing to sales, operations, and in-vehicle features. AI technologies such as machine learning, natural language processing, and robotics are enabling breakthroughs in autonomous driving, advanced driver assistance systems (ADAS), predictive maintenance, and real-time decision-making. These innovations are improving fleet efficiency, safety, and operational performance, helping companies meet rising industry demands for faster delivery times, enhanced vehicle safety, and personalized user experiences. The report identifies key trends accelerating AI adoption in the CV sector. These include work order automation, which reduces administrative overhead; prognostics, which predict vehicle failures before they occur to lower maintenance costs; and emotional intelligence in vehicles, which enhances driver engagement and safety by adapting to user behavior and mood. Autonomous driving remains a major focus, with the potential to drastically reduce human error and increase transportation efficiency. Leading companies are already leveraging AI to gain a competitive edge. Dassault Systèmes is using AI-powered software to revolutionize vehicle design, while FourKites applies AI to track shipments and optimize logistics through real-time visibility. Samsara employs AI to monitor fleet performance, detect risky driving behaviors, and improve overall operational safety. The report outlines three primary business models driving AI adoption in the CV space: hardware-integrated solutions, software-as-a-service (SaaS), and subscription-based services. These models are supported by strong partnerships between technology firms, data science companies, original equipment manufacturers (OEMs), and fleet operators. Notable mergers and acquisitions, such as Microsoft’s acquisition of OpenAI and Google’s purchase of Waymo, underscore the strategic importance of AI in the transportation sector. Despite the opportunities, challenges remain. High capital expenditure, complex regulatory environments, and difficulties integrating AI into legacy systems hinder widespread adoption. The competitive landscape is also crowded, with over 25 key players vying for market share. Major competitors include Amazon, Apple, Baidu, Nvidia, Meta, Microsoft, IBM, and Uber, alongside other tech giants like Adobe, Dell, Intel, and Salesforce. Regionally, AI adoption varies, with North America and Europe leading due to advanced infrastructure and strong investment in smart mobility. However, Asia-Pacific is emerging as a high-growth region, driven by rapid urbanization, e-commerce expansion, and government support for smart transportation. The report concludes that AI is a critical enabler for innovation and growth in the CV industry. By improving safety, cutting operational costs, and enhancing customer experiences, AI is helping fleet operators stay competitive in an increasingly automated world. As AI continues to evolve, it will play a central role in shaping the future of global freight and logistics, making transportation faster, safer, and more efficient.
