AI Sensor Market Size to Reach USD 93.9 Billion by 2032 | CAGR: 39.2% | DataHorizzon Research
Fort Collins, Colorado, Sept. 07, 2023 (GLOBE NEWSWIRE) — DataHorizzon Research Published a report titled, “AI Sensor Market Size, Share, Growth, Trends, Statistics Analysis Report, By Application (Neural Networks, Case-Based Reasoning, Inductive Learning, and Ambient- Intelligence), By Sensor Type, By Technology, By End-use, By Region And Segment Forecasts, 2023-2032.”
According to DataHorizzon Research, The AI sensor market size was valued at USD 3.4 Billion in 2022 and is expected to have a market size of USD 93.9 Billion by 2032 with a CAGR of 39.2%. Artificial intelligence assists large-scale organizations with data collection methods in real time. Besides, sensors are significantly used for defense, healthcare, and automotive applications.
The global AI sensor market growth is largely driven due to the growing need for automation in several industries. Industrial automation includes sensors such as LiDAR, RFID, and cameras. Moreover, AI sensors, such as pool water monitoring, home security, and motion detection, are significantly used in the residential sector. Additionally, digitalization infrastructure is likely to disrupt the traditional sensor market. For instance, edge computing is a prominent technology for designing SMART cities. Edge computing exhibits high accountability to enable and process real-time data from IoT devices.
AI Sensor Market Report Highlights:
- The global AI sensor market growth is projected at a CAGR of 39.2% by 2032.
- The AI sensor market growth is projected to increase as several industries have resorted to automation and machine learning in their business process. The emergence of humanoids and the widespread use of robotics for healthcare will be witnessed soon.
- The machine learning segment is expected to remain high in the application category, led by the rise in data generation through various optical and radar sensors with varied applications throughout different industries.
- The consumer electronics segment accounted for a significant share owing to the high demand for consumer wearable and smart home appliances.
- Temperature sensors maintained a dominant position in 2022 and are projected to retain their dominance owing to their extensive use in healthcare and chemical industries.
- Asia Pacific is the leading market for AI sensors, attributed to a vast consumer pool with a huge demand for electronics and wearable devices.
- Some of the prominent players in the AI sensor market include Robert Bosch GmbH, Teledyne Technologies Incorporated, Sensirion AG, Baidu, Inc., Sensata, Technologies, Inc., ACI Worldwide, BAE Systems, LexisNexis Risk Solutions, Goertek Inc., Hokuriku Electric Industry Co., Ltd., MEMSIC Semiconductor Co. Ltd., Silicon Sensing Systems Limited, Movella Inc. and Senodia Technologies Co., Ltd.
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|Report Title||AI Sensor Market|
|Market Size in 2022||USD 3.4 Billion|
|Market Size by 2032||USD 93.9 Billion|
|CAGR from 2023 to 2032||39.2%|
|Largest Market||Asia Pacific|
|Forecast Period||2023 to 2032|
|Report Scope & Coverage||Market Size, Market Estimations and Forecast, Competitor Analysis, Trends, and Growth Factors|
|By Application||Neural Networks, Case-Based Reasoning, Inductive Learning, and Ambient-Intelligence|
|By Sensor Type||Pressure Sensors, Position Sensors, Temperature Sensors, Optical Sensors
Ultrasonic Sensors, Motion Sensors, Navigation Sensors
|By Technology||Natural Language Processing, Machine Learning, Computer Vision, and Context-aware Computing|
|By End-use||Automotive, Consumer Electronics, Manufacturing, Aerospace & Defense, Robotics, Smart Home Automation and Agriculture|
|Region||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.|
|Countries Covered||U.S., Canada, U.K., Germany, France, China, Japan, India, South Korea, Brazil, Mexico, UAE, Saudi Arabia, South Africa, among others.|
|Major Market Players||Robert Bosch GmbH, Teledyne Technologies Incorporated, Sensirion AG, Baidu, Inc., Sensata, Technologies, Inc., ACI Worldwide, BAE Systems, LexisNexis Risk Solutions Goertek Inc., Hokuriku Electric Industry Co., Ltd., MEMSIC Semiconductor Co. Ltd., Silicon Sensing Systems Limited, Movella Inc. and Senodia Technologies Co., Ltd|
The global market has been segmented as application, sensor type, technology, end-user, and region. The machine learning segment dominated in 2022 and is projected to expand more in the forthcoming years. Consumer electronics is the leading end-user segment due to the high demand for sensor technology in electronic gadgets and wearables.
Asia Pacific is the leading market for AI sensors, and the growth can be attributed to a rise in demand for consumer electronics and a wide footprint of the semiconductor industry. In addition, the growing trend of SMART homes in India, China, Japan, and other part of Asia is driving the need for AI sensors in the residential sector.
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Latest Trends and Developments in the Industry:
- The extensive use of automated machine learning enhances data labeling and automatic tuning of neural networks. This approach is collectively used for PlatformOps, MLOps, and DataOps under the umbrella term Xops coined by Gartner.
- OpenAI developed two new models, namely DALL E and CLIP, to blend images and language to create new visual designs via a text description.
- Multi-modal learning is a novel trend in the AI industry. The multimodal AI approach can perform language, visual, and robotic movement tasks within a single machine learning model, such as vision, text, speech, and sensor data.
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AI Sensor Market Segmentation:
AI Sensor Market, By Application (2023-2032)
- Neural Networks
- Case-Based Reasoning
- Inductive Learning
- Ambient- Intelligence
AI Sensor Market, By Sensor Type (2023-2032)
- Pressure Sensors
- Position Sensors
- Temperature Sensors
- Optical Sensors
- Ultrasonic Sensors
- Motion Sensors
- Navigation Sensors
AI Sensor Market, By Technology (2023-2032)
- Natural Language Processing
- Machine Learning
- Computer Vision
- Context-aware Computing
AI Sensor Market, By End-use (2023-2032)
- Consumer Electronics
- Aerospace & Defense
- Smart Home Automation
AI Sensor Market, By Region (2023-2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
About DataHorizzon Research:
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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