Embedded
AI Market size is
projected to grow from USD 9.4 billion in 2023 to USD 18.0 billion by 2028 at a
compound annual growth rate (CAGR) of 14.0% during the forecast period,
according to report published by MarketsandMarkets.
The Embedded AI market is expected to grow significantly during
the forecast period, owing to various business drivers like growing demand for
intelligent and autonomous systems for a personalized experience and increasing
advancements in AI and ML technologies for better and smart decisions.
Furthermore, the proliferation of connected devices and IoT ecosystem for
effective communications and the rising usage of Embedded AI for
industry-specific applications drive market growth.
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By offering, Services to register for the highest CAGR during the
forecast period
The scope of the services segment comprises
training and consulting, system integration and implementation, and support and
maintenance. The services segment of the Embedded AI market is growing rapidly
as businesses increasingly look to outsource the development and deployment of
AI solutions. This is due to a number of factors, including the complexity of
developing AI-powered applications, the need for specialized expertise, and the
high cost of in-house development. Businesses looking to adopt AI should
consider the services segment as a viable option for developing and deploying
AI solutions.
By data type, numeric data to register for the highest market size
during the forecast period
The increasing demand for real-time data
processing and analysis boosts the demand for numeric data type in the embedded
AI market. Numeric data plays a crucial role in the embedded AI market, forming
the foundation for training, optimizing, and deploying AI models on embedded
systems. Numeric data captured by sensors, cameras, or other sources in
real-time serves as input to the deployed AI models, allowing them to process
the data and generate actionable outputs promptly. This is crucial for
robotics, autonomous vehicles, or industrial automation applications, where
quick decision-making is required.
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By region, Asia Pacific to account for the highest growth rate
during the forecast period
Embedded AI adoption in the Asia Pacific region is experiencing
significant growth. It is driven by several factors, including the region’s
strong manufacturing base, rapid urbanization, increasing demand for IoT
applications, and advancements in AI technologies. With strong government
support, a thriving startup ecosystem, and investments in AI infrastructure,
the Asia Pacific market presents significant growth opportunities for Embedded
AI technologies and solutions.
Top Key Players:
Some major players in the Embedded AI market include Google (US),
IBM (US), Microsoft (US), AWS (US), NVIDIA (US), Intel (US), Qualcomm (US), Arm
(UK), AMD (US), MediaTek (Taiwan), Oracle (US), Salesforce (US), NXP (The
Netherlands), Lattice (US), Octonion (Switzerland), NeuroPace (US), Siemens
(Germany), HPE (US), LUIS Technology (Germany), Code Time Technologies
(Canada), HiSilicon (China), VectorBlox (Canada), AU-Zone Technologies
(Canada), STMicroelectronics (Switzerland), SenseTime (Hong Kong), Edge Impulse
(US), Perceive (US), Eta Compute (US), SensiML (US), Syntiant (US), Graphcore
(UK), and SiMa.ai (US).
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