New York, USA, Nov. 14, 2024 (GLOBE NEWSWIRE) -- Market Outlook:
According to the Polaris Market Research, the global embedded AI market size is expected to reach USD 29.26 billion by 2032. The market is expected to register a CAGR of 13.8% during 2024–2032.
Embedded AI, or Embedded Artificial Intelligence (EAI), is a general-purpose framework system for AI operations. It is integrated into network devices and offers standard functions for managing models, obtaining data, and preprocessing data for AI algorithm-based operations on these devices. Furthermore, it facilitates the transmission of inference results to functions that rely on AI algorithms. In addition to providing benefits such as reduced data transmission costs, guaranteed data security, and real-time inferencing and decision-making, this makes full use of the sample data and computing power of devices.
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Key Insights:
- Market Data: In-depth analysis of annual sales and embedded AI market forecast in USD 29.26 billion from 2024 to 2032
- Regional Analysis: Detailed insights into all the key market regions, including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
- Company Profiles: Coverage of major companies in the market, such as Microsoft, Intel Corporation, Siemens, Oracle, and Edge Impulse Inc.
- Customization: Get customized reports as per your requirements with respect to countries, regions, and segmentation
Growth Factors and Opportunities:
- Increasing penetration of connected IoT devices is expected to drive the embedded AI market growth during the forecast period. Many IoT applications require autonomous devices, such as smart home systems and industrial sensors. Due to embedded AI, these devices can learn from their environment and make independent decisions without human intervention, thus increasing the demand for IoT devices.
- Autonomous vehicles are becoming more popular around the world. These vehicles rely heavily on embedded AI to process large amounts of data from sensors and cameras in real-time. Hence, as the adoption of autonomous vehicles increases, the embedded AI market demand also spurs.
- Increased research and development funding will spur innovation in AI algorithms and technologies, which will lead to the development and deployment of advanced embedded AI solutions that are integrated into a wide range of devices and applications.
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Competitive Landscape:
There are many participants in the market, which makes it very competitive.
Here are some of the major embedded AI market key players:
- Amazon Web Services, Inc.
- Intel Corporation
- Qualcomm Technologies, Inc.
- Siemens
- MediaTek Inc.
- Edge Impulse Inc.
- STMicroelectronics
- LUIS Technology GmbH
- Huawei Technologies Co., Ltd.
- SensiML Corporation
- Eta Compute
- SiMa Technologies, Inc.
- Safran Electronics & Defense
- Salesforce
- Cognex Corporation
- MIPS
- Graphcore
Geographical Landscape
- North America: In 2023, North America held a significant portion of the market, with the US leading the market. Its strong technological ecosystem, large R&D expenditures, the presence of major players, and the high demand for intelligent solutions across a range of industries are all factors contributing to the growth of the embedded AI market in North America.
- Asia Pacific: Rapid urbanization, a rise in digital transformation projects, and the development of smart cities are all expected to contribute to the Asia Pacific embedded AI market's notable CAGR throughout the forecast period. The growing middle class in India and the government's encouragement of technological innovation are two factors driving up demand for individualized services in e-commerce and healthcare.
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Embedded AI Market Segmentation:
By Offering Outlook:
- Hardware
- Software
- Services
By Data Type Outlook:
- Sensor Data
- Image and Video Data
- Numeric Data
- Categorial Data
- Other
By Industry Verticals Outlook:
- BFSI
- Energy & Utilities
- Government & Defense
- Healthcare & Life Sciences
- IT/ITeS
- Automotive
- Retail & eCommerce
- Telecommunications
- Others
By Regional Outlook:
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Malaysia
- South Korea
- Indonesia
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Mexico
- Brazil
- Argentina
- Rest of Latin America
Browse PMR's Embedded AI Market Report Coverage from Different Publications:
The global embedded AI market size is expected to reach USD 29.26 billion by 2032, exhibiting a CAGR of 13.8 % during 2024–2032.
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About Polaris Market Research & Consulting, Inc:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.
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