Press release
Embedded AI Market Report 2023-2032| Market Size, Growth Drivers And Key Trends.
Embedded AI Market
The Business Research Company's Embedded AI Global Market Report 2023 identifies industrial automation as the major driver for the Embedded AI market's growth in the forecast period. Industrial automation uses advanced technologies, control systems, and machinery to automate industrial processes and operations. Embedded AI is widely used in industrial automation to enhance productivity, efficiency, and decision-making in manufacturing and production processes.
The global embedded AI market is expected to grow from 11.64 billion in 2022 to 13.04 billion in 2023 at a compound annual growth rate (CAGR) of 12%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The embedded AI market is expected to reach 20.36 billion in 2027 at a CAGR of 11.8%.
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Major competitors in the Embedded AI market are Google LLC, Microsoft Corporation, Amazon Web Services Inc., Siemens, Intel Corporation, International Business Machines Corporation (IBM).
A key trend in the Embedded AI market includes innovation of technological products. Major companies operating in the embedded AI market are focused on developing innovative technological products to sustain their position in the market. For instance, in May 2023, Cognex Corporation., a US-based system software company, launched the Advantage 182 vision system, an embedded AI-based vision system. This innovative product is designed to automate complex location, classification, and inspection tasks in the life sciences industry.
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The Embedded AI market is segmented -
•By Offering: Hardware, Software, Services
•By Data Type: Sensor Data, Image And Video Data, Numeric Data, Categorial Data, Other Data Types
•By Application: Smart Phone, Wearable Device, Vehicle Electronics, Smart Home, Security Monitoring, Drone, Robot, Other Applications
•By Vertical: Banking, Financial Services And Insurance (BFSI), Information Technology (IT) And Information Technology Enabled Services (ITES), Retail And Ecommerce, Manufacturing, Healthcare And Life Sciences, Media And Entertainment, Telecom, Automotive, Other Verticals
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Embedded AI market.
The Business Research Company's "Global Embedded AI Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Embedded AI Market Include:
1. Executive Summary
2. Embedded AI Market Characteristics
3. Embedded AI Market Trends And Strategies
4. Embedded AI Market - Macro Economic Scenario
5. Global Embedded AI Market Drivers and Restraints
……
32. Global Embedded AI Market Competitive Benchmarking
33. Global Embedded AI Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Embedded AI Market
35. Embedded AI Market Future Outlook and Potential Analysis
36. Appendix
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