New Castle, Delaware, Aug. 31, 2023 (GLOBE NEWSWIRE) — Allied Market Research published a report on the global artificial intelligence sensor market. The report projects that the market was valued at $3.2 billion in 2022 and is expected to reach $103.4 billion by 2032, with a CAGR of 41.8% during the forecast period. The market is categorized by type (pressure, temperature, optical, motion), technology (NLP, machine learning, computer vision), and application (automotive, consumer electronic, manufacturing, aerospace, and defense, others).
An artificial intelligence sensor is a device or technology used for detecting or measuring physical or environmental parameters. It can be a camera, microphone, accelerometer, thermometer, pressure sensor, and more. When combined with AI algorithms, these sensors enable intelligent operations such as object and speech detection, activity tracking, and predictive analytics. They collect data, analyze it, and make decisions or predictions based on patterns and insights obtained from the data.
The growth of the global artificial intelligence sensor market is driven by the increasing demand for smart consumer devices, the rise of the Internet of Things (IoT), and the adoption of AI technologies. However, high installation and maintenance costs pose challenges to market growth. On the other hand, the development of smart cities, infrastructure, and the preference for AI-sensor-enabled wearables offer growth opportunities in the coming years.
The report provides detailed market coverage, including the forecast period, base year, market size, CAGR, and number of pages in the report. It also includes segments covered, drivers, opportunities, and restraints of the market.
The COVID-19 pandemic has accelerated the adoption of artificial intelligence sensors in various industries. These sensors have been used for monitoring crowd density and ensuring compliance with social distancing guidelines. Additionally, technological innovations, product extensions, and strategies by key vendors have fueled the market growth.
Based on type, the optical sensor segment holds the largest market share and is projected to maintain its leadership position throughout the forecast period. The motion sensor segment is expected to witness the highest growth rate due to the increasing popularity of gaming and virtual reality technologies.
In terms of technology, the machine learning segment dominates the market and is forecasted to maintain its lead position. The segment is driven by the growth of sensor-generated data. The consumer electronic segment holds the largest market share among applications and is projected to continue its dominance. This is attributed to the increasing demand for IoT devices.
North America currently holds the highest revenue share, while the Asia-Pacific region is expected to witness the highest growth rate. Countries like China, Japan, and India have contributed to the significant growth in the AI sensors market.
Leading market players in the global artificial intelligence sensor market include Robert Bosch GmbH, Teledyne Technologies Incorporated, Sensirion Ag, Sensata Technologies, Inc., Memsic Semiconductor Co., Ltd., and others. These players have adopted various strategies to increase their market share and maintain dominance.
In conclusion, the global artificial intelligence sensor market is experiencing substantial growth due to the high demand for smart consumer devices, IoT, and the adoption of AI technologies. Despite challenges such as installation and maintenance costs, the market offers significant growth opportunities in industries like consumer electronics, automotive, and manufacturing. North America currently dominates the market, while the Asia-Pacific region shows immense potential for future growth.
For more information, please visit the article at GlobeNewswire.[^1^]
##### References:
[^1^]: New Castle, Delaware, Aug. 31, 2023 (GLOBE NEWSWIRE) — “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.” Retrieved from GlobeNewswire(https://www.globenewswire.com/Tracker?data=8Nf0czeFQSr8UBLRBBcRa_OyGjwjyr7g2s3TkQMqOphZEH94iWtOSa5lzH3nQDHN9o6WHGXXt28YdUX3wMedCwNnhvDSch1CrwQcV2WGEK4_jOFskgudxjMXE7pKk9xvpNZej76-p_zh1pbH5hRKimFJ38gYRD85E6AWEBi4BM2SrcjqU6kV70ziYJa9Gir3)