Artificial Intelligence Sensors: Introduction
- Artificial intelligence sensors are the devices which track the raw data and transfers it to another device. The receiver then collects and computes the data to present the results. These sensors are used in various fields of technology as they are essential components. For instance, pressure sensor is used between pieces of tile to measure weight.
- Currently, the trend is shifting to integrated circuits which are optimized for machine learning. This processing is known as Edge AI. The sensor solutions are becoming resourceful as they deliver finalized meaningful data.
- Moreover, the rise of AI is offering new sensor applications for intelligent sensing. For instance, human like operations will require a degree of artificial intelligence, sensors, as well as machine learning.
- AI based sensors have strongest innovations in consumer applications, particularly in human machine interfaces.
Deployment of Sensors in Artificial Intelligence
- Despite its presence from decades, artificial intelligence has grabbed center stage for business intelligence. This is due to the growing data, increasing scalability of cloud computing, and AI accelerators.
- According to studies, 75% of commercial apps will use AI, and 90% of consumers are likely to interact with customer support bots by 2021. In addition, more than 50% of robots will use artificial intelligence.
- AI sensors are being deployed in different sectors such as diagnostics in medical applications, to improve the performance of energy sources, health and security of people, exploration of space, and environmental monitoring. Hence, these applications are driving the usage of AI sensors.
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High Power consumption and extra cost may hamper the market growth
- High power consumption minimizes the amount of data that can be transferred through a communication channel. This will affect the efficiency in artificial intelligence applications.
- However, local processing neural networks can be the best option as power consumption can be controlled.
- The extra cost is incurred due to the adoption of sensors in the device or application. This also reduces the life of a device and may affect the cost of manufacturing artificial intelligence sensors.
Maximum Growth to be Observed in the Asia Pacific Market
- In terms of region, the global artificial intelligence sensors market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa
- The artificial intelligence sensors market in Asia Pacific is anticipated to expand at the maximum CAGR during the forecast period. This growth can be attributed to increasing implementation of industrial robots in Japan, China, and South Korea, increasing investments in defense as well as health care, and increasing development activities. These factors are expected to drive the demand for artificial intelligence sensor products.
- The artificial intelligence sensors market in North America and Europe is likely to show high growth rate, the second largest after Asia Pacific. This is due to high spending power, and currency value.
- The market in Middle East & Africa is also expected to show growth in the coming years.
Key Players in the Global Market
The global artificial intelligence sensors market is highly fragmented. Prominent players operating in the global market are focusing on technological developments and expansion to meet the growing demand for artificial intelligence sensors. Moreover, manufacturers are entering into partnerships for the development of innovative products and to gain higher profit margins.
Key players operating in the global artificial intelligence sensors market include:
- Infineon Technologies AG.
- Panasonic Corp.
- Qualcomm Technologies, Inc.
- Robert Bosch GmbH.
- Siemens AG.
- Sony Corp.
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Global Artificial Intelligence Sensors Market: Research Scope
Global Artificial Intelligence Sensors Market, by Type
- Pressure Sensor
- Position Sensor
- Temperature Sensor
- Optical Sensor
- Flow Sensors
Global Artificial Intelligence Sensors Market, by Application
- Cognitive Science
- Natural Interface
Global Artificial Intelligence Sensors Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.