Increased adoption of cloud and IoT platforms in end-use industries, rising need for IIoT in manufacturing design, and the advent of technologies
VANCOUVER, BC, CANADA, April 19, 2022 /EINPresswire.com/ — 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.
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.
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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.
The report, additionally, offers a comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the competitive landscape of the industry. It also covers strategies adopted by prominent players such as mergers and acquisitions, collaborations, joint ventures, product launches, and brand promotions, among others. The report aims to offer the readers a holistic understanding of the relevant features of the industry.
Key Players Profiled in the Report are: Augury Systems, Glassbeam, Siemens AG, PointGrab, Maana, Tellmeplus, Sentenai, Versos Systems, Tachyus, and United Technology, among others.
The report provides comprehensive details about the market with respect to overall revenue, sales and consumption, pricing trends, gross margins, growth rate, and market size. Additionally, the report also covers details of the company, such as sales and distribution area, product portfolios, specifications, and others.
Emergen Research has segmented the global AI-based Sensors Market on the basis of type, application, technology, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
Maintenance and Inspection
Technology Outlook (Revenue, USD Billion; 2017-2027)
Natural Language Processing
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The report aims to provide a complete analysis of the global AI-based Sensors market with important details about the key market players from insightful primary and secondary research data. The report also aims to benefit the user by providing constructive data to gain insight into market growth, size, and investment approaches. Additionally, the report provides an extensive analysis of the AI-based Sensors market, including key data, such as factors influencing the growth of the market, buyers and vendors, production and consumption, and revenue.
Key Questions Answered in the Report:
What will be the estimated growth rate of the AI-based Sensors market ?
Who are the prominent distributors, vendors, and manufacturers of the market?
What are the driving and restraining factors of the growth of the AI-based Sensors market throughout the forecast period?
What are the current and future market trends of the AI-based Sensors market?
What are the sales and price analysis of the product by types, applications, and regions?
What are the expected opportunities for the companies and new entrants in the coming years?
The report demonstrates the progress and advancement achieved by the global AI-based Sensors market, including the historical analysis and progress through forecast years. The report provides valuable insights to the stakeholders, investors, product managers, marketing executives, and other industry professionals. The report provides an accurate estimation by applying SWOT analysis and Porter’s Five Forces analysis. The report focuses on current and future market growth, technological advancements, volume, raw materials, and profiles of the key companies involved in the market.
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