The Global Embedded AI Market Is Estimated To Record a CAGR of Around 9.6% During The Forecast Period
Evolve Business Intelligence has published a half-cooked research report on the Global Embedded AI Market, 2021–2030. The global Embedded AI market is projected to exhibit a CAGR of around 9.6% during the forecast period of 2022 to 2030.
Evolve Business Intelligence has recognized the following companies as the key players in the global Embedded AI Market: Microsoft, Qualcomm, Intel, Google, NVIDIA, NXP, STMicroelectronics, Renesas, Maxim, Horizon, SenseTime, and Zhicun Technology.
Market Highlights
The global Embedded AI market is projected to be valued at $ 30.38 Billion by 2030, recording a CAGR of around 9.6% during the forecast period. The implementation of machine and deep learning in software at the device level is known as embedded artificial intelligence (AI). Based on the data collected and evaluated, the software can be configured to deliver both predictive and reactive intelligence. The processing of artificial intelligence tasks, data, and outcomes has shifted from the cloud to the device. This significant transition has resulted in embedded AI. Complex AI computations, such as creating search engine results, were formerly performed in a cloud data center. There is less reliance on the cloud for AI data processing owing to the installation of AI models on graphics processing units (GPUs), session border controllers (SBCs), and systems on chips (SoCs). Devices with embedded AI can run AI models at the device level and then utilize the results to accomplish a job or action. The cloud is still useful for data storage since data can be briefly kept on devices before being transmitted to a cloud server for safekeeping.
The pandemic had a significant influence on industries all around the world. The introduction of embedded computers was aided by the evident limits imposed by several governments. Companies are concentrating on modern technologies such as artificial intelligence (AI), machine learning (ML), and the Internet of Things to conduct contactless operations following the pandemic (IoT). This element will also enhance demand for automation procedures, hastening the global deployment of embedded computers. Process automation enables firms to reduce and regulate labour expenses while also enhancing production process consistency.
Segmental Analysis
The global Embedded AI market has been segmented based on Type, Application, and region.
By Type, the Embedded AI market is segmented based on hardware and software. Hardware is expected to have the largest market share throughout the forecast period, while the software is expected to grow at a faster rate.
Based on Application, the Embedded AI market is segmented based on Smartphones, Wearable devices, Vehicle Electronics, Smart homes, Security Monitoring, Drone, robots, and Others. The Smart Phone application had the most market share. As smartphone makers become stronger in their support for AI technology, this technology will surely affect how people use smartphones and where they can be used in the future.
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Regional Analysis
The Embedded AI market is divided into six regions: North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa. The Embedded AI computing platforms market in North America is expected to dominate and hold a major proportion of the market. In North America, the United States and Canada are likely to lead the market for embedded AI computer platforms. One of the primary factors driving the growth of the Embedded AI computing platforms market in this area is the rising acceptance of artificial intelligence technology. The Asia Pacific region is to grow rapidly. Government initiatives, as well as standards and regulations, are increasing the demand for embedded AI computing systems, especially in growing economies such as China, India, Japan, and Malaysia. In the projection period, Latin America, the Middle East, and Africa are also expected to grow rapidly.
