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Embedded AI Market
The growing aggregate of data centers globally is driving the market demand.
The technology is growingly crucial in several fields such as IoT, robotics, and industrial applications” - Polaris Market ResearchNEW YORK CITY, NY, UNITED STATES, October 31, 2024 /EINPresswire / -- Our embedded AI market report has been prepared using advanced methodologies and research techniques to help businesses make strategic business decisions.
According to a recent report published by Polaris Market Research,“Embedded AI Market by Offering, Data Type, Industry Verticals and Region Forecast, 2024–2032.” The market was valued at USD 9.13 billion in 2023 and is projected to reach USD 29.26 billion by 2032, registering a CAGR of 13.8% during the forecast period.
Market Introduction:
Embedded AI is the incorporation of AI into resource-restricted devices or systems such as adorning devices, smartphones, smart home devices, industrial automation systems, robotics, and autonomous vehicles. AI algorithms sanction these gadgets to execute chores productively, precisely, and independently. Dissimilar to cloud-dependent AI services, which depend on cloud-dependent computing and data conveyance, embedded AI administers real-time data analysis of gadgets and dispatches responses through the device.
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Embedded systems are restricted computing systems outlined for particular chores and applications. They promote low-power processors with clock momentum spanning from a few megahertz to many gigahertz customized to encounter the needs of the earmarked applications while maximizing power productivity, pushing the embedded AI market demand.
Key Companies in Embedded AI Market:
.Microsoft
.Amazon Web Services, Inc.
.NVIDIA Corporation
.Intel Corporation
.IBM
.Qualcomm Technologies, Inc.
.Hewlett Packard Enterprise Development LP
.Siemens
.Oracle
.MediaTek Inc.
.STMicroelectronics
.Edge Impulse Inc.
.LUIS Technology GmbH
.Huawei Technologies Co., Ltd.
.Eta Compute
.SensiML Corporation
.SiMa Technologies, Inc.
.Salesforce
.Safran Electronics & Defense
.MIPS
.Cognex Corporation
.Graphcore.
Market Drivers and Opportunities:
Growing Preference for Autonomous Systems: The market is driven by the escalating inclination for smart and autonomous systems for customized participation in several sectors, such as retail and e-commerce, healthcare and life sciences, and others. Customized affairs depend on analyzing user data to comprehend deportment and partiality, boosting the demand for embedded AI market growth.
Growing R&D Funding: Growing R&D investments stimulate invention in AI algorithms and technologies. This causes the advancement and initiation of enlightened embedded AI solutions that are merged into several devices and applications.
Effective Usage of Cameras in Real Time: The approval of autonomous vehicles is growing globally. These vehicles depend massively on embedded AI to operate massive aggregates of data from sensors and cameras in real-time.
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Segmental Analysis:
.The embedded AI market segmentation is based on offering, data type, industry verticals, and region.
.By offering analysis, the hardware segment held the largest market share. This is due to the progression in processing power and energy efficiency.
.By industry vertical analysis, the automotive segment is poised to register a significant CAGR. This is due to speedy progression in smart driving technology and important vehicle features.
Regional Overview:
The research report covers all the major regions and sub-regions of the embedded AI market. The study provides market insights into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America: North America accounted for the largest market share. This is primarily because of strong technology environs and notable funding in research and development.
Asia Pacific: Asia Pacific is anticipated to witness the fastest CAGR from 2024 to 2032. The region's speedy urbanization, rise in digital variation inventiveness, and structuring of smart cities fuel the regional market expansion.
FAQs:
How much is the embedded AI market worth?
The market size was valued at USD 9.13 billion in 2023 and is projected to grow to USD 29.26 billion by 2032.
What is the growth rate of the embedded AI market?
The global market is projected to register a CAGR of 13.8 % during the forecast period.
Which region held the largest share?
North America held the largest share of the global market in 2023.
Which segment by offering is expected to record a significant CAGR in the market during 2024-2032?
The software segment is projected for significant growth in the global market during the forecast period.
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Browse PMR's Embedded AI Market Report Coverage from Different Publications:
Embedded AI Market Size 2024: Global Industry Analysis By Top Key Players: Microsoft, Amazon Web Services, Inc., NVIDIA Corporation, Intel Corporation
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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.
Likhil G
Polaris Market Research and Consulting
+ + 1 929-297-9727
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