Artificial Intelligence Sensor Market to Reach $103.4 Billion, Globally, by 2032 at 41.8% CAGR: Allied Market Research
The global artificial intelligence sensor market is experiencing growth due to factors such as the rise in demand for smart consumer devices, growing demand forthe Internet of Things(IoT), and an increase in the adoption of AI technologies.
New Castle, Delaware, Aug. 31, 2023 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “Artificial Intelligence Sensor Market by Type (Pressure, Temperature, Optical, Motion), By Technology (NLP, Machine Learning, Computer Vision), By Application (Automotive, Consumer Electronic, Manufacturing, Aerospace, and Defense, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032.” According to the report, the global artificial intelligence sensor market was valued at $3.2 billion in 2022 and is projected to reach $103.4 billion by 2032, registering a CAGR of 41.8% from 2023 to 2032.
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An Artificial Intelligence Sensor is a device or technology that detects or measures a physical or environmental parameter. It can be a camera, a microphone, an accelerometer, a thermometer, a pressure sensor, and many more. These sensors are used to collect real-time information from the environment or the system into which they are integrated. When paired with artificial intelligence (AI) algorithms, these sensors can facilitate intelligent operations such as object detection, speech detection, activity tracking, predictive analytics, and more. Artificial intelligence sensors are capable of collecting data, analyzing it, and making decisions or predictions based on patterns and insights obtained from the data.
Prime Determinants of Growth:
The global artificial intelligence sensor market is experiencing growth due to factors such as the rise in demand for smart consumer devices, growing demand for the Internet of Things (IoT), and an increase in the adoption of AI technologies. On the other hand, high installation and maintenance costs are anticipated to restrain the market growth during the forecast period. Furthermore, the surge in the development of smart cities and infrastructure and the growing preference for AI-sensor-enabled wearables provide ample growth opportunities in the upcoming years.
Report Coverage & Details:
|Market Size in 2022||$3.2 Billion|
|Market Size in 2032||$103.4 Billion|
|No. of Pages in Report||266|
|Segments Covered||Type, Technology, Application, and Region|
|Restraints||High installation and maintenance costs|
- The COVID-19 pandemic accelerated the adoption of artificial intelligence sensors in a variety of industries. The unique characteristics of AI sensors along with the critical need for advanced technologies to combat the pandemic have led to their increase in use in various applications. For instance, AI sensors, such as computer vision and LiDAR technologies, have been used to monitor crowd density and ensure compliance with social distancing guidelines. These sensors can provide real-time data and alerts to help manage and control the spread of the virus.
- Furthermore, owing to its technological innovations, product extensions, and different strategies adopted by key vendors increased the growth of the artificial intelligence sensor market.
The optical segment to maintain its leadership status throughout the forecast period-
Based on type, the optical sensor segment held the highest market share in 2022, accounting for more than two-fifths of the global artificial intelligence sensor market revenue, and is estimated to maintain its leadership status throughout the forecast period. Owing to the growing adoption of robotics and automation across industries. Moreover, the motion sensor segment is projected to manifest the highest CAGR of 45.95% from 2023 to 2032. The segment is driven by the growing popularity of gaming and virtual reality (VR) technologies.
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The machine learning segment to maintain its lead position during the forecast period-
Based on technology, the machine learning segment held the highest market share in 2022, accounting for more than two-fifths of the global artificial intelligence sensor market revenue, and is projected to maintain its lead position during the forecast period. The same segment is projected to manifest the highest CAGR of 42.98% from 2023 to 2032. The surge in the growth of sensor-generated data. The latest trends and growth factors present significant opportunities for artificial intelligence sensor providers in the machine learning segment.
The consumer electronic segment to rule the roost by 2032-
Based on application, the consumer electronic segment held the highest market share in 2022, accounting for more than two-thirds of the global artificial intelligence sensor market revenue, and is projected to rule the roost by 2032. The same segment would also showcase the fastest CAGR of 42.52% during the forecast period. This is due to an increase in demand for IoT devices, such as smart lighting, smart security, and smartphones.
North America region to maintain its dominance by 2032-
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global artificial intelligence sensor market, and is likely to maintain its dominance during the forecast period. On the other hand, Asia-Pacific region is expected to witness the fastest CAGR of 43.51% from 2023 to 2032, Asia Pacific region is the leader for AI sensors market in various industries such as consumer electronics, automotive, and manufacturing sectors, with a huge demand coming from countries like China, Japan, and India. China has shown massive growth due to its rapidly expanding industrial sector and increasing adoption of smart home devices.
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Leading Market Players: –
- Robert Bosch GmbH
- Teledyne Technologies Incorporated
- Sensirion Ag
- Sensata Technologies, Inc.
- Memsic Semiconductor Co., Ltd.
- Goertek Inc.
- Hokuriku Electric Industry Co., Ltd.
- Sony Corporation
- Te Connectivity Ltd.
- Stmicroelectronics N.V.
The report provides a detailed analysis of these key players in the global artificial intelligence sensor market. These players have adopted different strategies such as product launch, product development, partnership, investment, acquisition, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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