Artificial Intelligence (AI) Sensor Market Set to Grow at the Fastest Rate- Time to Grow your Revenue

The increasing adoption of AI based sensors from the healthcare industry especially for health monitoring is one of the major factors fueling the growth of AI sensor market.

In recent years, intelligent sensing has gained significant attention because of its autonomous decision-making ability to solve complex problems. This has led to the penetration of AI technology in various industries including the sensors industry. Artificial intelligence tools are proving to be useful when applied to sensor systems.

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There are various types of AI based sensors namely, pressure sensor, motion sensor, temperature sensor, optical sensor, and others. They are used in various applications such as health and fitness monitoring, machine condition monitoring, predictive maintenance, and smart home applications among others.

Drivers: Increasing demand for AI based sensors from the healthcare industry

Application of artificial intelligence in the healthcare industry is the key driving factor for the growth of AI based sensors market. The advantages of AI technology have led to its accelerated adoption in the healthcare industry. According to the Healthcare Information and Management Systems Society Inc. (HIMSS), AI in healthcare has proved to be helpful in clinical decision making. This is mainly due to its ability to provide decision makers with essential, real-time data that can be used to diagnose patients, plan treatments, and manage population health. Apart from clinical decision making, AI is also increasingly being used in the healthcare industry for streamlining processes and information sharing.

Growing adoption of edge AI hardware across the globe

Enterprises are increasingly adopting edge AI hardware to support delay-sensitive AI applications, such as autonomous vehicles, computer vision, video surveillance cameras, remote surgery, smart machines, intelligent transportation systems (ITS), and robotics. Moreover, a significant increase in the adoption of wearable devices is a key factor that drives the growth of the edge AI hardware market as they need computing on the go and cannot depend on distant cloud services. With the proliferation of digital devices, edge AI hardware is expected to gain significant market traction in the coming years. This factor is also expected to boost the demand for AI sensors.

AI SENSOR MARKET, BY TYPE
Pressure Sensor
Motion Sensor
Temperature Sensor
Optical Sensor
Flow Sensors
Others

AI SENSOR MARKET, BY APPLICATION
Health & Fitness Monitoring
Machine Condition Monitoring & Predictive Maintenance
Smart Home & Smart Cities

AI SENSOR MARKET, BY GEOGRAPHY
North America
Europe
APAC
Rest of the World (RoW)

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Key Market Players

Infineon Technologies (Germany), Panasonic (Japan), Bosch Sensortec (Germany), Siemens (Germany), Sony (Japan), and STMicroelectronics (Switzerland) are few key players in the AI sensor market globally.

Recent Developments

In 2020, Panasonic (Japan) expanded its product portfolio in India with the launch of AI-enabled refrigerators. The new range of refrigerators comes with features like intelligent door sensors, intelligent light sensors, intelligent temperature sensors, AG clean technology, and jumbo storage.

In 2020, Bosch Sensortec (Germany) developed a self-learning motion sensor that adds artificial intelligence (AI) to portable devices: the BHI260AP self-learning AI sensor. BHI260AP is a smart sensor that includes wide variety of software functionalities, a 32-bit customer programmable microcontroller, and a 6-axis IMU all in one package.

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This release was published on openPR.