Increased adoption of cloud and IoT platforms in end-use industries, rising need for IIoT in manufacturing design, and the advent of technologies like ML, AI, and cloud services will drive the demand.
Vancouver, BC -- (SBWIRE) -- 01/19/2021 -- Massive developments, especially in the human-machine interface, have been observed by Artificial Intelligence (AI)-based sensors. The highest industry growth was observed by optical sensing dominated by image sensors. The use of AI sensors in different industries has also been accelerated by an increase in the COVID-19 pandemic. However, an increase in the threat of hackers and cybercrime and the rise in the overall cost of the technology is anticipated to hamper the growth of the AI-based sensor market to some degree.
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Owing to rapid urbanization and digitalization globally, end-user sectors like manufacturing, consumer electronics, and automotive and transport have experienced growth and now rely on technology-driven systems for operating. AI-based sensors are being used across these industries as they help in automating processes, help in maintaining product quality, and help in producing more efficient products.
Key participants include Augury Systems, Glassbeam, Siemens AG, PointGrab, Maana, Tellmeplus, Sentenai, Versos Systems, Tachyus, and United Technology, among others.
AI-based Sensors Market: Drivers
The global AI-based Sensors Market is expected to rise from USD 11.76 billion in 2019 to USD 152.55 billion in 2027 at a CAGR of 37.8%. End-user sectors, such as manufacturing, consumer electronics, and automotive and transport have experienced growth and are now dependent on technology-driven systems for service due to rapid urbanization and digitalization globally. Sensors based on AI are an important component and are used in a number of technology fields, from simple toys to highly sophisticated and complex systems.
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Type Outlook (Revenue, USD Billion; 2017-2027)
Case-based reasoning
Ambient-intelligence
Neural networks
Inductive learning
Others
Application Outlook (Revenue, USD Billion; 2017-2027)
Biosensor
Health Monitoring
Maintenance and Inspection
Human-computer interaction
Others
Technology Outlook (Revenue, USD Billion; 2017-2027)
Natural Language Processing
Machine Learning
Computer Vision
Context-aware Computing
AI-based Sensors Market: Regional Outlook
In 2019, due to rapid technological developments and increased government investments in the production of artificial intelligence-based sensors, North America had the largest market share of 31.6%. Moreover, the presence of some of the leading players in the market will also drive the growth of the region's AI-based sensor market.
Due to the demand for AI-based sensors in construction for many applications in various commercial and residential construction projects, Europe accounted for a large market share in the year 2027. In the global market, Asia Pacific is projected to rise with a CAGR of 38.4% in terms of both consumption and production in the coming years. Taiwan, Japan, and China are the main contributors to the regional market.
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Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. AI-based Sensors Market Segmentation & Impact Analysis
4.1. AI-based Sensors Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Growing cases of Human-computer interaction Malpractice
4.2.2.2. Supportive government policies for Human- computer interaction insurance
4.2.3. Market restraints analysis
4.2.3.1. Concerns related policy wording and coverage availability
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter's Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. AI-based Sensors Market By Type Insights & Trends, Revenue (USD Million)
5.1. Type Dynamics & Market Share, 2019 & 2027
5.1.1. Case- based reasoning
5.1.2. Ambient- intelligence
5.1.3. Neural networks
5.1.4. Inductive learning
5.1.5. Others
Chapter 6. AI-based Sensors Market By Application Insights & Trends Revenue (USD Million)
6.1. Application Dynamics & Market Share, 2019 & 2027
6.1.1. Biosensor
6.1.2. Health Monitoring
6.1.3. Maintenance and Inspection
6.1.4. Human-computer interaction
6.1.5. Others
To Be Continued..!
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