The Global Artificial Intelligence (AI) Sensor Market size is expected to reach $39.3 billion by 2030, rising at a market growth of 38.8% CAGR during the forecast period

Jul 23, 2023

The demand for ultrasonic sensors is rising as these sensors are essential for proximity sensing, collision avoidance, and obstacle identification, making operations safer and more effective.

New York, Aug. 30, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Artificial Intelligence Sensor Market Size, Share & Industry Trends Analysis Report By Type, By Technology, By Application, By Regional Outlook and Forecast, 2023 - 2030" - https://www.reportlinker.com/p06487634/?utm_source=GNW Consequently, the ultrasonic segment would witness approximately 1/4th share by 2030. Numerous fatal conditions like diabetes, cancer, and others are becoming more common worldwide. 8.5% of persons 18 years of age and older had diabetes in 2014, as reported by WHO. Further, WHO states that 1.5 million deaths in 2019 were directly related to diabetes, and 48% of all diabetes-related deaths occurred in those under 70. These sensors, for instance, can be used in healthcare for non-invasive monitoring, gesture control, and imaging applications as benefits of AI becoming more prevalent.The major strategies followed by the market participants are Product Launches as the key developmental strategy to keep pace with the changing demands of end users. For instance, In January, 2023, Sensata Technologies Holdings PLC launched Sensata INSIGHTS, to decrease costs, escape problems and improve security. In addition, In May, 2021, Robert Bosch Engineering and Business Solutions, a subsidiary of Robert Bosch GmbH unveiled Phantom Edge to offer real-time electrical energy consumption, electrical parameters, operating usage, and appliance-level information.Based on the Analysis presented in the KBV Cardinal matrix Sony Corporation and Oracle Corporation are the forerunners in the Market. In November, 2021, Oracle Corporation announced the launch of AI Services in Oracle Cloud Infrastructure (OCI) in facilitating the application of AI to improve business operations by adding new features that improve client experiences, equip staff with better information, and promote employee productivity. Companies such as Robert Bosch GmbH, Sensata Technologies Holdings PLC, Baidu, Inc., BAE Systems PLC, and RELX PLC (LexisNexis Risk Solutions, Inc.) are some of the key innovators in the Market.Market Growth FactorsEdge computing will grow with digitalization and smart infrastructureRapid urbanization and digitization heavily impact the development of smart infrastructure. Edge computing is a vital technology used extensively in smart infrastructure. It allows for the processing and analysis of data in real time from smart sensors and other IoT devices. The demand for more sustainable and effective infrastructure solutions has increased with the growing urban population and rapid urbanization. In addition, AI and IoT technologies are necessary for developing smart cities, smart automobiles, smart traffic systems, smart homes, smart factories, and smart transport systems. As a result of all these aspects, the artificial intelligence sensor market will grow in the upcoming years.Increasing demand for wearables with AI sensorsOne sector that is expanding the fastest is wearables with AI sensors. The two most significant market segments are smartwatches and ear-worn electronics. The market for AI sensors will probably rise as wearable technology becomes increasingly popular. The demand for fitness and medical tracking devices is fueling the rapid growth in wearable adoption as consumers emphasize maintaining and enhancing their overall health & wellness. These sensors are utilized in various products, including smart fabrics, headbands, neckwear, and footwear. This self-learning AI sensor will convert consumers’ one-way interactions with exercise equipment into interactive training methods. In consequence, these aspects increase the demand for the AI sensors, thereby supporting the market’s expansion.Market Restraining FactorsHigh Cost of establishment and maintenanceCost is a major factor in determining the rate at which the market for AI sensors will expand. For market participants, the enormous capital requirement for implementing and maintaining integrated AI sensors may cause difficulties. The development of AI sensors is additionally expensive, which restricts the use of these sensors. Additional costs include relevant software compatibility compliances, software maintenance services, and AI sensor software solutions. Artificial intelligence is still being developed in various fields because of technological and real-world constraints that prevent it from being used in certain applications. It might hinder the market’s expansion of AI sensors Market.Type OutlookBased on sensor type, the market is classified into pressure, temperature, optical, position, ultrasonic, motion, navigation, and others. In 2022, the optical segment held the highest revenue share in the market. The rising need for visual data processing and analysis mostly drives growth. Optical sensors are now crucial for gathering and analysing visual data due to the growing acceptance of AI technologies and the development of applications dependent on computer vision. Optical sensors have also been widely used in many fields and applications, including consumer electronics, robotics, industrial automation, healthcare, and autonomous cars.Technology OutlookOn the basis of technology, the market is segmented into NLP, machine learning, computer vision, and context-aware computing. The context-aware computing segment acquired a substantial revenue share in the market in 2022. The development of more sophisticated and precise sensors that can capture in-depth environmental data has been one of the factors behind the expansion of the context-aware computing segment. For context-aware computer systems, these sensors’ ability to gather data on location, temperature, motion, light, and sound is essential.Application OutlookBy application, the market is categorised into automotive; consumer electronic; manufacturing; robotics, aerospace & defence; smart home automation; healthcare; and others. The consumer electronics procured a promising growth rate in the market in 2022. In consumer electronics, artificial intelligence has taken centre stage. Among the various goods & services that benefited from AI innovations, some are mobile devices, smart TVs, speakers, virtual personal assistants, and distributed and wearable sensors. The market is growing in this segment as a result of wide application of AI in consumer electronics.Regional OutlookRegion wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region led the market by generating the highest revenue share. North America has been a notable region because of its substantial investments in R&D, robust technological infrastructure, and presence of important businesses. The market expansion of AI sensors in the United States has been significantly influenced by the presence of IT corporations and a thriving startup environment specializing in AI and sensor technologies. To influence the adoption & development of AI sensor technologies, the region has also concentrated on laws and initiatives that support moral AI and data privacy, which will boost the market expansion in this region.The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Robert Bosch GmbH, Sensata Technologies Holdings PLC, Sony Corporation, Baidu, Inc., BAE Systems PLC, Oracle Corporation, RELX PLC (LexisNexis Risk Solutions, Inc.), Sensirion AG, ACI Worldwide, Inc. and SAS Institute, Inc.Recent Strategies developed in Artificial Intelligence (AI) Sensor MarketPartnerships, Collaborations and Agreements:Apr-2023: Baidu, Inc. partnered with Quhuo Limited QH, a leading gig economy platform focusing on local life services across China. Under this partnership, both companies would access the launched ERNIE Bot, a new-generation large language model (LLM), released by Baidu, Inc depending on its big model ERNIE suite.Feb-2023: SAS Institute, Inc. came into partnership with CESMII, the Smart Manufacturing Institute. The partnership aims to expand the adoption of modern analytics in manufacturing. Additionally, smart manufacturers can better adapt to changing conditions and satisfy developing consumer expectations through the combination of SAS’ deep knowledge of AI and machine learning with CESMII’s methodology for standardized and contextualized manufacturing data.Sep-2022: SAS Institute, Inc. announced a partnership with the Jakarta City Government. The partnership aims to enhance the implementation of digital transformation programs including the Flood Control System and the Digital Government Plan. Additionally, the system uses sensors and meteorological data combined with SAS Analytics for IoT to analyse stream-level conditions in real time and forecast potential flooding areas.Apr-2022: Bosch collaborated with AWS, a subsidiary of Amazon. With this collaboration, the companies focused on digitalizing logistics by offering them an interaction platform, which would be powered by AWS. The platform facilitated logistics and transportation companies to take advantage of the possibilities of digitalization by enabling seamless interaction between data and services and thereby rendering the need for cost and resource-intensive IT projects redundant.Oct-2021: Bosch collaborated with Carnegie Mellon University, a privately-owned research university. Under this collaboration, the company focused on developing a framework for XR applications that could demonstrate the interaction of physical and virtual worlds. The architecture for this intended XR was based on the Industrial Internet of Things (IIoT) context and was designed around reliability, real-time performance, and safety.Aug-2021: BAE Systems PLC came into collaboration with Sarcos Defense, a wholly owned subsidiary of Sarcos Robotics, a developer of human-capable robots. Through this collaboration, both companies would develop modern perception and sensor-capable autonomous platforms for the United States.Product Launches and Product Expansions:Mar-2023: Sony Semiconductor Solutions Corporation, a subsidiary of Sony Corporation unveiled AITRIOS, the service offering a subscription-based edge AI sensing platform, across the United States. Additionally, AITRIOS offers partners and clients the tools, Software Development Kits, and development environment that may decrease cost, lower complexity, enhance time-to-market, and boost demonstrable ROI, all at the time delivering advanced privacy controls.Jan-2023: Sensata Technologies Holdings PLC launched Sensata INSIGHTS, a platform that offers complete IoT solutions for telematics, supply chain and logistics, and worksite and asset monitoring. The launched product would provide proprietary technology to empower decisions and to make sure the highest data quality to decrease costs, escape problems and improve security.May-2022: Sensata Technologies Holdings PLC released the wireless 6VW series IoT sensor, developed to support predictive maintenance of rotary assets. Additionally, the launched sensor provides data to the Sensata IQ platform, a cloud-based platform that processes data from Sensata IoT devices using artificial intelligence (AI).Apr-2022: Sensata Technologies Holdings PLC rolled out the Sensata IQ platform which would create a simple implementation of asset health tracking to avoid unplanned downtime in manufacturing conditions. Sensata IQ provides an economic, convenient-to-install solution that allows factory managers and maintenance engineers to intuitively track all the assets from anywhere, through devices like tablets, PC, or smartphones.Nov-2021: Oracle Corporation announced the launch of AI Services in Oracle Cloud Infrastructure (OCI) in facilitating the application of AI to business circumstances. Furthermore, these services may improve business operations by adding new features that improve client experiences, equip staff with better information, and promote employee productivity.May-2021: Robert Bosch Engineering and Business Solutions, a subsidiary of Robert Bosch GmbH unveiled Phantom Edge, an Artificial Intelligence of Things platform. The platform would offer real-time electrical energy consumption, electrical parameters, operating usage, and appliance-level information. Additionally, the launched AIoT platform would be utilized for real-time energy monitoring in residential, mobility, retail, commercial spaces, healthcare, and agriculture.Acquisitions and Mergers:May-2022: LexisNexis Risk Solutions, a division of RELX PLC acquired BehavioSec, a provider of advanced behavioural biometrics technology. This acquisition aims to improve the machine and digital identity-focused portfolio of LexisNexis Risk Solutions like LexisNexis ThreatMetrix. Additionally, BehavioSec would depict an already powerful digital identity detection and validation capability set for LexisNexis Risk Solutions.Apr-2022: Robert Bosch GmbH acquired Five AI Ltd, a company engaged in cloud-based development and testing platforms for self-driving software. Through this acquisition, Robert Bosch aims to enhance its work in software development for safe automated driving and provide its customers with European-made technology.Mar-2022: Bosch acquired Atlatec, a creator of high-resolution 3D maps. Through this acquisition, the companies aimed to strengthen the portfolio of autonomous driving, by bolstering the expertise of Bosch in the domain of high-resolution digital maps. The acquisition established Bosch as a single source that offered all the required technologies of automated driving, from software and maps to actuators and sensors. In the collaboration, Atlatec provided a sensor box, software, processing hardware, and data recording for designing 3D maps for autonomous driving and simulations.Sep-2021: Sensirion AG acquired AiSight GmbH, an advanced supplier of scalable easy-to-use machine diagnostics solutions. Through this acquisition, Sensirion Holding AG would broaden its product offering from vibration sensing to environmental and flow sensing and also from components and modules to solutions.Scope of the StudyMarket Segments covered in the Report:By Type• Optical• Motion• Position• Pressure• Navigation• Temperature• Ultrasonic• OthersBy Technology• Machine Learning• Natural Language Processing• Computer Vision• Context-aware ComputingBy Application• Smart Home Automation• Healthcare• Automotive• Manufacturing• Robotics, Aerospace & Defense• Consumer Electronic• OthersBy Geography• North Americao USo Canadao Mexicoo Rest of North America• Europeo Germanyo UKo Franceo Russiao Spaino Italyo Rest of Europe• Asia Pacifico Chinao Japano Indiao South Koreao Singaporeo Malaysiao Rest of Asia Pacific• LAMEAo Brazilo Argentinao UAEo Saudi Arabiao South Africao Nigeriao Rest of LAMEACompanies Profiled• Robert Bosch GmbH• Sensata Technologies Holdings PLC• Sony Corporation• Baidu, Inc.• BAE Systems PLC• Oracle Corporation• RELX PLC (LexisNexis Risk Solutions, Inc.)• Sensirion AG• ACI Worldwide, Inc.• SAS Institute, Inc.Unique Offerings • Exhaustive coverage• Highest number of market tables and figures• Subscription based model available• Guaranteed best price• Assured post sales research support with 10% customization freeRead the full report: https://www.reportlinker.com/p06487634/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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