Vancouver, B.C., March 31, 2020 – The global AI-based Sensors Market is expected to reach USD 152.55 Billion by 2027, according to a new report by Emergen Research. The demand for the market is mainly driven by the application of artificial intelligence in different sectors, such as entertainment, education, health, transport, and utilities.
Owing to rapid urbanization and digitalization globally, end-user sectors like manufacturing, consumer electronics, and automotive and transport have experienced growth and now rely on technology-driven systems for operating. AI-based sensors are being used across these industries as they help in automating processes, help in maintaining product quality, and help in producing more efficient products.
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The growth of the AI-based sensors market is expected to be restrained because of low awareness regarding the use of sensors and stigma against using IoT and Cloud services owing to its vulnerability and possibility of a leak of data. It is anticipated that extensive research and development funded by various companies and governments would help in overcoming this challenge and convert it into an opportunity for the market to thrive upon.
The latest market intelligence report, titled ‘Global AI-based Sensors Market’, is intended to provide the target audience with the necessary information about the global AI-based Sensors industry.
Key Highlights of the AI-based Sensors Market Report:
- The neural network, in the type segment, is forecasted to grow with a significant CAGR of 37.9% during the forecast period. Consistent development in artificial intelligence is increasing the application of neural networks in sensors. It helps in the assistance of fraud detection in the BFSI and e-commerce sectors.
- Artificial intelligence for the analysis of sensors enables predictions and classifications by using sensor signals as compared to other physics-based models. This latest innovation can be witnessed in the application of medical diagnosis and predictive management.
- Artificial intelligence, along with machine learning algorithms, is used in different construction workflows such as quality check, scheduling, issue tracking, safety management, resource, and design management. With the infiltration of COVID-19, AI-based sensors demand is growing in these sectors for remote usage.
- North America held the largest market share of 31.6% in the year 2019, owing to the rapid technological advancements and increasing government investments into the development of artificial intelligence-based sensors. Moreover, the presence of some of the leading players of the market in the region will also drive the growth of the market in the region.
- Key participants include Augury Systems, Glassbeam, Siemens AG, PointGrab, Maana, Tellmeplus, Sentenai, Versos Systems, Tachyus, and United Technology, among others.
The report contains unbiased industry expert opinions on the current market scenario, past market performance, production & consumption rates, demand & supply ratio, and revenue generation forecasts over the estimated period. Furthermore, several analytical tools like investment assessment, SWOT analysis, and Porter’s Five Forces Analysis have been implemented by our analysts’ team to evaluate the production and distribution capacities of the AI-based Sensors market players.
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The research study presents an industry-wide summary of the AI-based Sensors market, including drivers, constraints, technological advancements, product developments, limitations, growth strategies, growth prospects, etc. among others. The AI-based Sensors7 report analyzes the market based on different categories, such as product types, end-user applications, and leading geographical regions.
The AI-based Sensors market report provides an in-depth analysis of the key competitors operating in the industry. The report offers insights into their product portfolio, business overview, financial standing, market position, revenue generation, market share and market size, and production and manufacturing capacity along with pricing analysis.
- Type Outlook (Revenue, USD Billion; 2017-2027)
- Case-based reasoning
- Neural networks
- Inductive learning
- Application Outlook (Revenue, USD Billion; 2017-2027)
- Health Monitoring
- Maintenance and Inspection
- Human-computer interaction
- Technology Outlook (Revenue, USD Billion; 2017-2027)
- Natural Language Processing
- Machine Learning
- Computer Vision
- Context-aware Computing
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The AI-based Sensors industry report mainly focuses on the key market regions where the market is spread, including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report further focuses on the key segments of the market, such as product types, application spectrum, technology, end-user industries, among others.
Major Geographies Analyzed in the Report:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Answered in the Report:
- What is the growth rate of the AI-based Sensors market? What is the anticipated market valuation of the AI-based Sensors industry by 2027?
- What are the key growth driving and restraining factors of the AI-based Sensors market?
- Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
- What are the key opportunities and growth prospects of the AI-based Sensors industry over the forecast period?
- Which region is expected to show significant growth in the coming years?
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