The report relies on advanced primary and secondary research methodologies to assess information. The data for the study is gathered from reliable and trustworthy sources, ensuring the authenticity and accuracy of the research study.
Vancouver, BC -- (SBWIRE) -- 02/08/2021 -- AI-based Sensors Market Size – USD 11.76 billion in 2019, AI Sensors Market Growth - CAGR of 37.8%, Artificial Intelligence Sensors Market Trends –Advancement in technology.
AI-based sensors are enabled with artificial intelligence (AI) algorithms that detect, record, indicate, and respond to physical property. AI-based sensors are essential components and are used in many areas of technology, from simple toys to extremely complex systems. With rapid urbanization, many industries like medical, manufacturing, automotive, and consumer electronics have experienced growth and have shifted focus on technology-driven systems for operating to reduce labor costs.
The growth of the AI-based sensors market is expected to be restrained because of low awareness regarding the use of sensors and stigma against using IoT and Cloud services owing to its vulnerability and possibility of a leak of data. It is anticipated that extensive research and development funded by various companies and governments would help in overcoming this challenge and convert it into an opportunity for the market to thrive upon.
The neural network, in the type segment, is forecasted to grow with a significant CAGR of 37.9% during the forecast period. Consistent development in artificial intelligence is increasing the application of neural networks in sensors. It helps in the assistance of fraud detection in the BFSI and e-commerce sectors.
North America held the largest market share of 31.6% in the year 2019, owing to the rapid technological advancements and increasing government investments into the development of artificial intelligence-based sensors. Moreover, the presence of some of the leading players of the market in the region will also drive the growth of the market in the region.
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AI-based Sensors Market Dynamics
Owing to the rise in the adoption of cloud and IoT platforms in end-use industries, the demand for AI-based sensors has also risen globally. Furthermore, the advent of technologies like ML, AI, and cloud services and the adoption of these technologies in various sectors will boost the global market demand during the forecast period. Moreover, the recent pandemic has led to a growing emphasis on remote diagnosis equipment to reduce contamination, further boosting the market over the forecast period.
AI-based Sensors Market Regional Analysis
North America is expected to dominate the global market during the forecast period due to growing government investments and the rapid development of technology. Europe is projected to hold a significant market share throughout the forecast period due to the high demand for various commercial and residential projects in the region. The Asia Pacific region is expected to observe significant growth during the forecast period due to major technological advancements in countries like China, Taiwan, and Japan.
Key participants include Augury Systems, Glassbeam, Siemens AG, PointGrab, Maana, Tellmeplus, Sentenai, Versos Systems, Tachyus, and United Technology, among others.
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Here are the questions we answer...
What are the future opportunities in store for the vendors operating in the AI-based Sensors market?
What does the competitive landscape look like?
Which emerging technologies are believed to impact the AI-based Sensors market performance?
What are the key trends and dynamics?
Which regulations that will impact the industry?
Which segment will offer the most opportunity for growth between 2020 and 2027?
Where will most developments take place in the long term?
Who are the most prominent vendors and how much market share do they occupy?
What are the latest technologies or discoveries influencing the AI-based Sensors market growth worldwide?
The study includes valuable data, including the breakdown of information of market by type, geography, product application and classification. An overview of the current and future trends examined in the report for the forecast period 2020 – 2027 aim at influencing the imperative advance prominent vendors are expected to have over their competitors.
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AI-based Sensors Market Type Outlook (Revenue, USD Billion; 2017-2027)
Case-based reasoning
Ambient-intelligence
Neural networks
Inductive learning
Others
AI-based Sensors Market Application Outlook (Revenue, USD Billion; 2017-2027)
Biosensor
Health Monitoring
Maintenance and Inspection
Human-computer interaction
Others
AI-based Sensors Market Technology Outlook (Revenue, USD Billion; 2017-2027)
Natural Language Processing
Machine Learning
Computer Vision
Context-aware Computing
AI-based Sensors Market Report Objectives
Examine the size of the global AI-based Sensors market based on the parameters of value and volume.
Accurately calculate the market shares, consumption, and other essential aspects of different segments of the global AI-based Sensors market.
Explore the underlying dynamics of the global AI-based Sensors market.
Highlight significant trends of the global AI-based Sensors market based on factors including, production, revenue, and sales.
Extensively profile top players of the global AI-based Sensors market and showing how they compete in the industry.
Study manufacturing processes and the costs, product pricing, and various trends associated with them.
Analyze the performance of different regions and countries in the global AI-based Sensors market.
Forecast the market size and share of all segments and regions in the global landscape.
The latest market intelligence report on the AI-based Sensors market aims at exploring the unknown and coming up with solutions to the potential threats and challenges faced by the AI-based Sensors market for the forecast period, 2020 - 2027.
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Table of Content
Chapter 1. Methodology & Sources
1.1. AI-based Sensors Market Definition
1.2. AI-based Sensors Market Research Scope
1.3. AI-based Sensors Market Methodology
1.4. AI-based Sensors Market 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
Chapter 5. AI-based Sensors Market By Technique Type Insights & Trends, Revenue (USD Million)
Chapter 6. AI-based Sensors Market By Technology Insights & Trends Revenue (USD Million)
Chapter 7. AI-based Sensors Market By Application Insights & Trends, Revenue (USD Million)
Chapter 8. AI-based Sensors Market Regional Outlook
Chapter 9. Competitive Landscape
Continued…