The global Embedded AI market size is projected to reach approximately $ 30.38 Billion by 2030, at a CAGR of 9.6% from 2022 to 2030. Embedded AI is a collection of embedded artificial intelligence software and applications that are specifically created and developed to execute specific activities in an electronic system or device. The embedded AI helps to automate business processes and tasks to give actionable results to businesses and users via enhanced analytics. It also helps businesses make better decisions and improve the overall customer experience. Embedded computer systems require microprocessors (MPUs), microcontrollers (MCUs), or other custom-designed integrated chips, as well as accompanying software in Read-Only Memory. Low power consumption, accuracy, high speed, reusability, flexibility, size, and reliability are all features of these systems. It is widely used in various applications, such as office automation, home applications, security, banking, automobile, healthcare, telecommunications, consumer electronics, defense, personal, and smart card industries.
COVID-19 Impact Analysis
Industries around the world were severely impacted by the pandemic. The obvious restrictions set by many governments had a favorable impact on the adoption of embedded computers. To undertake contactless operations post-pandemic, companies are focusing on modern technologies like as artificial intelligence (AI), machine learning (ML), and the Internet of Things (IoT). Furthermore, this aspect will increase demand for automation processes, which will accelerate the global adoption of embedded computers. Process automation allows businesses to cut and control labour costs while also improving the consistency of their manufacturing processes.
The market for Embedded AI is being driven by rising consumer electronics adoption as well as rising artificial intelligence adoption. Other factors influencing the global Embedded AI market include rising digitization in industrial automation and healthcare, and also increased demand in defense, automobile, and other sectors. Globally, the use of embedded AI is increasing as a result of the potential growth of emerging economies and the evolution of the Internet of Things (IoT) technology.
⮚ Increase in Process Automation
Process control and industrial automation are strong end-users of motherboards and other electronic components such as microcontrollers, microprocessors, and graphics cards, and have proven to be highly dependable on embedded AI design and development. Industrial automation demands rugged designs to withstand severe environments, high performance, maximum power efficiency, a wide range of I/O, and communication interfaces, among other things. Organizations can minimize and manage labour costs by automating operations and improving manufacturing processes by increasing uniformity. Embedded computing systems have evolved beyond monitoring and control to incorporating graphics and touchscreen display capabilities for greater engagement. The market for embedded AI for industrial applications is expected to rise at a faster rate.
- Cyber threats and security breaches
The security of embedded devices is one of the primary concerns impeding the growth of the embedded AI market. Military forces, banks, data centers, and healthcare institutions all have information stored in embedded devices such as memory. As a result, safeguarding these devices against cyber attacks and security breaches is critical. Embedded systems are vulnerable to cyberattacks due to irregular security upgrades, a long device lifecycle, remote deployment, and attack replication. As a result, the embedded AI industry is projected to be constrained by the vulnerability of embedded systems to cyber-attacks and security breaches.
⮚ The creation of 5G-based embedded devices
The introduction of 5G technology is expected to provide opportunities for growth in the embedded AI market. Embedded devices used in smart video surveillance systems for vehicles provide quick reaction rates due to the integration of 5G in their architecture. Furthermore, because 5G technology provides fast picture processing, it is likely to aid in the resolution of issues encountered during industrial automation and smart farming. As a result, embedded AI devices that enable 5G infrastructure are projected to drive the embedded AI market.
Based on the Type, the Embedded AI market is segmented based on Hardware and Software. In 2021, the hardware had the largest market share, accounting for more than three-quarters of the total, and is expected to maintain this position throughout the forecast period. However, from 2021 to 2030, the software segment is predicted to grow at the fastest rate.
Based on Application, the global Embedded AI market has been divided into Smart Phone
Wearable Device, Vehicle Electronics, Smart Home, Security Monitoring, Drone, Robot, Other. The Smart Phone application had the largest market share in 2021, As the smartphone manufacturers will have more and more powerful support for AI technology, this technology will inevitably change the way people will use the smartphone and where you can use it in the future.
Global Embedded AI Market Share, by Segmentation
Based on region, the global Embedded AI market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America is projected to dominate the use of the Embedded AI market followed by the Asia-Pacific and Europe regions.
North America Market
The Embedded AI computing platforms market in North America is expected to dominate the market and hold a large share of the market during the forecast period. The United States and Canada are expected to lead the Embedded AI computing platforms market in North America. The increased adoption of artificial intelligence technology is one of the major factors driving the growth of the Embedded AI computing platforms market in this region.
During the forecast years, Asia Pacific is expected to grow significantly. Government initiatives, as norms and regulations, are boosting the demand for embedded AI, particularly in developing economies in China, India, Japan, and Malaysia. Leading companies are putting a greater emphasis on developing economies such as China, India, Thailand, and Malaysia.
The market comprises tier-1, tier-2, and local players. With their wide product portfolios, tier-1 and tier-2 players have a global reach. Since of their strategic innovations and broad regional presence, companies such as Microsoft, Qualcomm, Intel, Google, NVIDIA, NXP, STMicroelectronics, Renesas, Maxim, Horizon, SenseTime, and Zhicun Technology lead the global Embedded AI business. To increase their market position and attract a wide consumer base, the businesses are employing various strategies, such as growth, product releases, and alliances.
- Zhicun Technology
Scope of the Report
Global Embedded AI Market, by Type
Global Embedded AI Market, by Application
- Smart Phone
- Wearable Device
- Vehicle Electronics
- Smart Home
- Security Monitoring
Global Embedded AI Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Rest of the World
|Market Size||2030: $ 30.38 Billion|
|CAGR||9.6% CAGR (2022-2030)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Key Segmentations||Type, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, Latin America, Middle East, Africa|
|Key Vendors||Microsoft, Qualcomm, Intel, Google, NVIDIA, NXP, STMicroelectronics, Renesas, Maxim, Horizon, SenseTime, and Zhicun Technology|
|Key Market Opportunities||The creation of 5G-based embedded devices|
|Key Market Drivers||Increase in Process Automation|
REPORT CONTENT BRIEF:
- High-level analysis of the current and future Embedded AI market trends and opportunities
- Detailed analysis of current market drivers, restraining factors, and opportunities in the future
- Embedded AI market historical market size for the year 2020, and forecast from 2022 to 2030
- Embedded AI market share analysis at each product level
- Competitor analysis with a detailed insight into its product segment, financial strength, and strategies adopted.
- Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations, and partnerships as well as funding taken and investment done, among others.
- To identify and understand the various factors involved in the global Embedded AI market affected by the pandemic
- To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
Embedded AI Market FAQs
1. What is the study period of this market?
● The study period of the global Embedded AI market is 2020 – 2030
2. What is the growth rate of the global Embedded AI market?
● The global Embedded AI market is growing at a CAGR of ~ 9.6% over the next 7 years
3. Which region has the highest growth rate in the global Embedded AI market?
● Asia Pacific is expected to register the highest CAGR during 2022-2030
4. Which region has the largest share in the global Embedded AI market?
● North America holds the largest share in 2021
5. Who are the key players in the global Embedded AI market?
• Microsoft, Qualcomm, Intel, Google, NVIDIA, NXP, STMicroelectronics, Renesas, Maxim, Horizon, SenseTime, and Zhicun Technology are the major companies operating in the global Embedded AI market.
6. Do you offer Post Sale Support?
● Yes, we offer 16 hours of analyst support to solve the queries
7. Do you sell particular sections of a report?
● Yes, we provide regional as well as country-level reports. Other than this we also provide a sectional report. Please get in contact with our sales representatives.