Published Date: 30-Aug-2023
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According to a new report, published by KBV research, The Global Artificial Intelligence (AI) Sensor Market size is expected to reach $39.3 billion by 2030, rising at a market growth of 38.8% CAGR during the forecast period.
The Motion segment would witness a CAGR of 38.3% during (2023 - 2030). Consumer electronics applications primarily use motion sensors. In wearable electronic devices, motion sensors have several uses. The most common type of sensors used in wearables are motion sensors, such as accelerometers, gyroscopes, MEMS, and a combination of these sensors.
The Machine Learning segment is generating high revenue in the Global Artificial Intelligence (AI) Sensor Market by Technology in 2022; thereby, achieving a market value of $13.3 billion by 2030. The vast amount of available big data is responsible for this expansion. By analyzing enormous quantities of sensor-generated data, machine learning algorithms can find connections, deviations, and patterns that might not be obvious through conventional programming techniques. Based on sensor inputs, this capacity provides more precise & intelligent decision-making.
The Automotive segment would register a CAGR of 40.1% during (2023 - 2030). A number of emerging technologies, including sensor technology, communication methods, machine learning, and deep learning algorithms, drive the automotive sector. Most human errors, including reckless driving, accidents, and traffic incidents, have been minimized due to the development of several cutting-edge products and applications using AI in the automotive sector.
The North America region dominated the Global Artificial Intelligence (AI) Sensor Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $13.3 billion by 2030. The Europe market is anticipated to grow at a CAGR of 38.4% during (2023 - 2030). Additionally, The Asia Pacific market would witness a CAGR of 39.9% during (2023 - 2030).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Robert Bosch GmbH, Sensata Technologies Holdings PLC, Sony Corporation, Baidu, Inc., BAE Systems PLC, Oracle Corporation, RELX PLC (LexisNexis Risk Solutions, Inc.), Sensirion AG, ACI Worldwide, Inc. and SAS Institute, Inc.
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