Artificial Intelligence (AI) Sensor Market to Hit $41.17 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, June 29, 2023 /PRNewswire/ -- The global AI sensor market size is expected to reach USD 41.17 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 43.6% from 2023 to 2030. The artificial intelligence (AI) sensor market has been experiencing significant expansion and is projected to grow robustly. Factors such as the increasing adoption of AI technologies, advancements in sensor capabilities, rising demand for internet of things (IoT) and connected devices, and the need for enhanced human-machine interactions are driving the market growth.

Key Industry Insights & Findings from the report:

• Integrating AI sensors with edge computing allows for real-time data processing, reduced latency, and improved efficiency. This combination enables faster decision-making, better response times, and enhanced privacy by processing data locally.
• The machine learning technology segment dominated the market with a revenue share of 31.5% in 2022. The factor attributed to the growth is the rising use of machine learning and NLP algorithms to make chatbots and virtual assistants that can understand customer intent and provide relevant responses.
• Continuous advancements in AI algorithms, machine learning, and sensor technologies fuel the growth of the AI sensor industry. These advancements enable sensors to capture and process data more accurately and efficiently, leading to improved AI capabilities and applications.
• North America dominated the market with a revenue share of 40.3% in 2022. The region has a strong technological ecosystem, with significant investments in AI research and development.

Read full market research report for latest industry insights, "Artificial Intelligence (AI) Sensor Market Size, Share & Trends Analysis Report By Technology (NLP, Machine Learning, Computer Vision, Context-aware Computing), By Sensor Type, By Application, By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.

AI Sensor Market Growth & Trends

AI-based sensors have observed the strongest innovations, particularly in the human-machine interface. The human-machine interface (HMI) refers to the interaction between humans and machines, and it plays a crucial role in enabling seamless communication and control. AI-powered sensors like gestures, voice, and facial recognition have revolutionized HMIs by enhancing their capabilities and making them more intuitive, efficient, and user-friendly. The market is experiencing rapid growth, driven by the increasing demand for intelligent, intuitive, and personalized human-machine interactions.

The COVID-19 pandemic has acted as a catalyst for adopting artificial intelligence sensors in several sectors. The unique capabilities of AI sensors and the urgent need for advanced technologies to combat the pandemic have led to their increased deployment in various applications. For instance, AI sensors, including computer vision and LiDAR technology, have been employed to monitor crowd density and ensure compliance with social distancing guidelines. These sensors can provide real-time data and alerts to help manage and control the spread of the virus.

Many businesses use AI technology to offer a superior customer experience. With the advancement of natural language processing through artificial intelligence (AI), chatbots are becoming a priority for businesses as the need to develop more prominent communication platforms grows. Customers with more fundamental questions can use chatbots to respond immediately and accurately. Chatbots can use previous questions and historical data to deliver personalized results, freeing time for customer service agents to work on more complex requests requiring more human nuance. For instance, H&M, a Sweden-based fashion company, uses a chatbot to assist mobile customers in their search for outfit options. Dominos, a U.S.-based restaurant chain, created a Facebook chatbot to expedite orders.

The Asia Pacific region has emerged as a key player in the market for artificial intelligence sensors. Countries like China, Japan, South Korea, and Singapore are at the forefront of AI sensor adoption. The region strongly focuses on smart manufacturing, robotics, healthcare, and consumer electronics. China, in particular, has made significant investments in AI sensor technology and is driving innovation in areas such as facial recognition, voice recognition, and autonomous systems.

Artificial Intelligence (AI) Sensor Market Report Scope

AI Sensor Market Segmentation

Grand View Research has segmented the global AI sensor market based on technology, sensor type, application, and region

AI Sensor Market - Technology Outlook (Revenue, USD Million, 2017 - 2030)

• NLP
• Machine Learning
• Computer Vision
• Context-aware Computing

AI Sensor Market - Type Outlook (Revenue, USD Million, 2017 - 2030)

• Pressure
• Temperature
• Optical
• Position
• Ultrasonic
• Motion
• Navigation
• Others

AI Sensor Market - Application Outlook (Revenue, USD Million, 2017 - 2030)

• Automotive
• Consumer Electronic
• Manufacturing
• Aerospace & Defense
• Robotics
• Smart Home Automation
• Healthcare
• Others

AI Sensor Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America

• U.S.
• Canada

• Europe

• U.K.
• Germany
• France

• Asia Pacific

• China
• Japan
• India
• South Korea
• Australia

• Latin America

• Brazil
• Mexico

• Middle East and Africa

• Kingdom of Saudi Arabia (KSA)
• UAE
• South Africa

List of Key Players in Artificial Intelligence (AI) Sensor Market

• ACI Worldwide
• Baidu, Inc.
• BAE Systems
• LexisNexis Risk Solutions
• Oracle Corporation
• Robert Bosch GmbH
• Sensata Technologies, Inc.
• Sensirion AG
• Silicon Sensing Systems Limited
• Sony Corporation
• SAS Institute
• Teledyne Technologies Incorporated

Check out more related studies published by Grand View Research:

• AI Chipset Market - The global artificial intelligence chipset market size is expected to reach USD 59.2 billion by 2025, according to a new report by Grand View Research, Inc. The artificial intelligence (AI) chipset market is anticipated to expand at a CAGR of 33.6% from 2019 to 2025. An artificial intelligence chipset is built on the concept of adding a dedicated component in an electronic device, to execute machine learning tasks. In addition, an increased amount of data has led to the need for high-speed processors and faster computing, which is addressed by incorporating artificial intelligence into the set of electronic components. For instance, Apple has implemented a neural engine in its A11 Bionic chip's GPU to speed-up the third-party applications. With the growing implementation of AI in smartphones and other smart devices, the growth in the market has been boosted.
• AI in Construction Market - The global artificial intelligence (AI) in construction market size is expected to reach USD 3.3 billion by 2025, according to a new report by Grand View Research, Inc. The market is anticipated to witness a CAGR of 34.0% from 2019 to 2025. Artificial intelligence in building solutions is being adopted rapidly due to the increasing need for risk management and deployment of more safety measures at the job site. Specialized artificial intelligence solutions are trained on architecture images, which helps in predictive maintenance. These artificial intelligence solutions can review thousands of images and identify risk factors to provide insights into risk indicators at a scale that cannot be achieved by humans. Furthermore, artificial intelligence has become more predictive and can observe the activities taking place at job sites, based on which it can predict the results of these activities.
• Edge Artificial Intelligence Chips Market - The global edge artificial intelligence chips market size is expected to reach USD 9.5 billion by 2027, according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 21.3% from 2020 to 2027. Semiconductor companies are experiencing high demand for their existing chips with hardware serving as a differentiator in AI. Also, these companies are developing workload-specific (training and inference) AI accelerators. For instance, Apple has implemented a neural engine in its A11 Bionic chip's processor to speed-up the third-party applications. The market is growing rapidly with the rising implementations of edge-based AI in smartphones and autonomous vehicles.

Browse through Grand View Research's Next Generation Technologies Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc.