The embedded AI market is projected to be worth US$ 9.5 billion in 2024. The market is anticipated to reach US$ 36.2 billion by 2034. The market is further expected to surge at a CAGR of 14.3% during the forecast period 2024 to 2034.
Key Market Trends and Highlights
There is a growing emphasis on developing energy efficient AI models and hardware, as embedded AI finds applications in battery powered devices, which is crucial for applications in sectors such as wearables, where prolonged battery life is a key consideration.
Attributes | Key Insights |
---|---|
Embedded AI Market Estimated Size in 2024 | US$ 9.5 billion |
Projected Market Value in 2034 | US$ 36.2 billion |
Value-based CAGR from 2024 to 2034 | 14.3% |
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The scope for embedded AI rose at a 17.8% CAGR between 2019 and 2023. The global market for embedded AI is anticipated to grow at a moderate CAGR of 14.3% over the forecast period 2024 to 2034.
The market experienced steady growth during the historical period from 2019 to 2023, owing to continued growth in IoT adoption, which led to increased demand for embedded AI in devices.
Looking ahead to the forecast period from 2024 to 2034, the market is expected to witness significant growth. Ongoing developments in AI algorithms, especially those optimized for edge computing, are expected to enhance the capabilities of embedded AI solutions. Improved algorithms will contribute to better performance and efficiency.
Embedded AI is closely tied to edge computing, where processing is done closer to the source of data rather than relying on centralized cloud servers, which is particularly important for applications that require low latency, such as autonomous vehicles, IoT devices, and robotics.
The integration of AI in embedded systems often involves the processing and analysis of sensitive data. Concerns related to data privacy and security can hinder adoption, especially in industries where safeguarding personal or confidential information is critical.
The below table showcases revenues in terms of the top 5 leading countries, spearheaded by the United Kingdom and Korea. The countries are expected to lead the market through 2034.
Countries | Forecast CAGRs from 2024 to 2034 |
---|---|
The United States | 14.5% |
China | 14.8% |
The United Kingdom | 15.4% |
Japan | 14.9% |
Korea | 15.1% |
The embedded AI market in the United States expected to expand at a CAGR of 14.5% through 2034. The United States has a strong presence in industries such as technology, finance, healthcare, manufacturing, and automotive. The adoption of embedded AI in these key sectors, driven by the need for innovation and efficiency, contributes to market growth.
The embedded AI market in the United Kingdom is anticipated to expand at a CAGR of 15.4% through 2034. The United Kingdom has been actively pursuing digital transformation across various industries. Embedded AI is a key enabler of digitalization efforts, providing intelligent solutions for automation, data analytics, and enhanced decision making.
Embedded AI trends in China are taking a turn for the better. A 14.8% CAGR is forecast for the country from 2024 to 2034. Rapid urbanization in the country has led to the development of smart cities, where embedded AI plays a crucial role in applications such as urban management, transportation optimization, and environmental monitoring.
The embedded AI market in Japan is poised to expand at a CAGR of 14.9% through 2034. Japan is a global leader in robotics and automation. Embedded AI is integrated into robotic systems for tasks such as image recognition, object manipulation, and decision making, contributing to the growth of the market.
The embedded AI market in Korea is anticipated to expand at a CAGR of 15.1% through 2034. The country is a leader in 5G technology, and the deployment of 5G infrastructure facilitates the growth of embedded AI applications. High speed and low latency connections enable advanced AI processing at the edge.
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The below table highlights how BFSI segment is projected to lead the market in terms of vertical, and is expected to account for a CAGR of 14.1% through 2034.
Based on data type, the numeric data segment is expected to account for a CAGR of 13.8% through 2034.
Category | CAGR through 2034 |
---|---|
BFSI | 14.1% |
Numeric Data | 13.8% |
Based on vertical, the BFSI segment is expected to continue dominating the Embedded AI market. Embedded AI systems are crucial for enhancing fraud detection and prevention capabilities in the BFSI sector. Machine learning algorithms can analyze patterns, detect anomalies, and identify potentially fraudulent transactions in real time, improving the security of financial transactions.
In terms of data type, the numeric data segment is expected to continue dominating the Embedded AI market. The proliferation of IoT sensors and devices that generate numeric data is a key driver. Embedded AI is used to analyze and derive insights from the vast amounts of numeric data generated by sensors in applications like smart cities, industrial IoT, and healthcare.
The embedded AI market is characterized by intense competition and dynamic innovation as companies strive to harness the power of artificial intelligence within embedded systems. Various players, ranging from established technology giants to innovative startups, contribute to the competitive ecosystem.
Recent Development
Attribute | Details |
---|---|
Estimated Market Size in 2024 | US$ 9.5 billion |
Projected Market Valuation in 2034 | US$ 36.2 billion |
Value-based CAGR 2024 to 2034 | 14.3% |
Forecast Period | 2024 to 2034 |
Historical Data Available for | 2019 to 2023 |
Market Analysis | Value in US$ billion |
Key Regions Covered |
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Key Market Segments Covered |
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Key Countries Profiled |
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Key Companies Profiled |
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The embedded AI market is projected to reach a valuation of US$ 9.5 billion in 2024.
What is the expected CAGR for the Embedded AI market until 2034?
The embedded AI market is forecast to reach US$ 36.2 billion by 2034.
The United Kingdom is expected to be the top performing market, exhibiting a CAGR of 15.4% through 2034.
Numeric data segment is preferred, and is expected to account for a CAGR of 13.8% through 2034.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034
4.1. Historical Market Size Value (US$ Million) Analysis, 2019 to 2023
4.2. Current and Future Market Size Value (US$ Million) Projections, 2024 to 2034
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Vertical
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Vertical, 2019 to 2023
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Vertical, 2024 to 2034
5.3.1. BFSI
5.3.2. Healthcare & Lifesciences
5.3.3. IT & Telecom
5.3.4. Automotive
5.3.5. Media & Entertainment
5.3.6. Energy & Power
5.3.7. Transportation & Logistics
5.3.8. Government & Defense
5.3.9. Manufacturing
5.3.10. Others
5.4. Y-o-Y Growth Trend Analysis By Vertical, 2019 to 2023
5.5. Absolute $ Opportunity Analysis By Vertical, 2024 to 2034
6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Data Type
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By Data Type, 2019 to 2023
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Data Type, 2024 to 2034
6.3.1. Numeric Data
6.3.2. Sensor Data
6.3.3. Image & Video Data
6.3.4. Categorical Data
6.3.5. Others
6.4. Y-o-Y Growth Trend Analysis By Data Type, 2019 to 2023
6.5. Absolute $ Opportunity Analysis By Data Type, 2024 to 2034
7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Offering
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) Analysis By Offering , 2019 to 2023
7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Offering , 2024 to 2034
7.3.1. Hardware
7.3.1.1. Processors
7.3.1.2. Memory Value (US$ Million)s
7.3.1.3. AI Accelerators
7.3.1.4. Others
7.3.2. Software
7.3.2.1. Edge Computing Platforms
7.3.2.2. AI & ML Framework
7.3.2.3. AI Middleware & Others
7.3.3. Services
7.4. Y-o-Y Growth Trend Analysis By Offering , 2019 to 2023
7.5. Absolute $ Opportunity Analysis By Offering , 2024 to 2034
8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
8.1. Introduction
8.2. Historical Market Size Value (US$ Million) Analysis By Region, 2019 to 2023
8.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2024 to 2034
8.3.1. North America
8.3.2. Latin America
8.3.3. Western Europe
8.3.4. Eastern Europe
8.3.5. South Asia and Pacific
8.3.6. East Asia
8.3.7. Middle East and Africa
8.4. Market Attractiveness Analysis By Region
9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
9.2.1. By Country
9.2.1.1. USA
9.2.1.2. Canada
9.2.2. By Vertical
9.2.3. By Data Type
9.2.4. By Offering
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Vertical
9.3.3. By Data Type
9.3.4. By Offering
9.4. Key Takeaways
10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
10.2.1. By Country
10.2.1.1. Brazil
10.2.1.2. Mexico
10.2.1.3. Rest of Latin America
10.2.2. By Vertical
10.2.3. By Data Type
10.2.4. By Offering
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Vertical
10.3.3. By Data Type
10.3.4. By Offering
10.4. Key Takeaways
11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
11.2.1. By Country
11.2.1.1. Germany
11.2.1.2. UK
11.2.1.3. France
11.2.1.4. Spain
11.2.1.5. Italy
11.2.1.6. Rest of Western Europe
11.2.2. By Vertical
11.2.3. By Data Type
11.2.4. By Offering
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Vertical
11.3.3. By Data Type
11.3.4. By Offering
11.4. Key Takeaways
12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
12.2.1. By Country
12.2.1.1. Poland
12.2.1.2. Russia
12.2.1.3. Czech Republic
12.2.1.4. Romania
12.2.1.5. Rest of Eastern Europe
12.2.2. By Vertical
12.2.3. By Data Type
12.2.4. By Offering
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Vertical
12.3.3. By Data Type
12.3.4. By Offering
12.4. Key Takeaways
13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
13.2.1. By Country
13.2.1.1. India
13.2.1.2. Bangladesh
13.2.1.3. Australia
13.2.1.4. New Zealand
13.2.1.5. Rest of South Asia and Pacific
13.2.2. By Vertical
13.2.3. By Data Type
13.2.4. By Offering
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Vertical
13.3.3. By Data Type
13.3.4. By Offering
13.4. Key Takeaways
14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
14.2.1. By Country
14.2.1.1. China
14.2.1.2. Japan
14.2.1.3. South Korea
14.2.2. By Vertical
14.2.3. By Data Type
14.2.4. By Offering
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Vertical
14.3.3. By Data Type
14.3.4. By Offering
14.4. Key Takeaways
15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
15.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
15.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
15.2.1. By Country
15.2.1.1. GCC Countries
15.2.1.2. South Africa
15.2.1.3. Israel
15.2.1.4. Rest of MEA
15.2.2. By Vertical
15.2.3. By Data Type
15.2.4. By Offering
15.3. Market Attractiveness Analysis
15.3.1. By Country
15.3.2. By Vertical
15.3.3. By Data Type
15.3.4. By Offering
15.4. Key Takeaways
16. Key Countries Market Analysis
16.1. USA
16.1.1. Pricing Analysis
16.1.2. Market Share Analysis, 2022
16.1.2.1. By Vertical
16.1.2.2. By Data Type
16.1.2.3. By Offering
16.2. Canada
16.2.1. Pricing Analysis
16.2.2. Market Share Analysis, 2022
16.2.2.1. By Vertical
16.2.2.2. By Data Type
16.2.2.3. By Offering
16.3. Brazil
16.3.1. Pricing Analysis
16.3.2. Market Share Analysis, 2022
16.3.2.1. By Vertical
16.3.2.2. By Data Type
16.3.2.3. By Offering
16.4. Mexico
16.4.1. Pricing Analysis
16.4.2. Market Share Analysis, 2022
16.4.2.1. By Vertical
16.4.2.2. By Data Type
16.4.2.3. By Offering
16.5. Germany
16.5.1. Pricing Analysis
16.5.2. Market Share Analysis, 2022
16.5.2.1. By Vertical
16.5.2.2. By Data Type
16.5.2.3. By Offering
16.6. UK
16.6.1. Pricing Analysis
16.6.2. Market Share Analysis, 2022
16.6.2.1. By Vertical
16.6.2.2. By Data Type
16.6.2.3. By Offering
16.7. France
16.7.1. Pricing Analysis
16.7.2. Market Share Analysis, 2022
16.7.2.1. By Vertical
16.7.2.2. By Data Type
16.7.2.3. By Offering
16.8. Spain
16.8.1. Pricing Analysis
16.8.2. Market Share Analysis, 2022
16.8.2.1. By Vertical
16.8.2.2. By Data Type
16.8.2.3. By Offering
16.9. Italy
16.9.1. Pricing Analysis
16.9.2. Market Share Analysis, 2022
16.9.2.1. By Vertical
16.9.2.2. By Data Type
16.9.2.3. By Offering
16.10. Poland
16.10.1. Pricing Analysis
16.10.2. Market Share Analysis, 2022
16.10.2.1. By Vertical
16.10.2.2. By Data Type
16.10.2.3. By Offering
16.11. Russia
16.11.1. Pricing Analysis
16.11.2. Market Share Analysis, 2022
16.11.2.1. By Vertical
16.11.2.2. By Data Type
16.11.2.3. By Offering
16.12. Czech Republic
16.12.1. Pricing Analysis
16.12.2. Market Share Analysis, 2022
16.12.2.1. By Vertical
16.12.2.2. By Data Type
16.12.2.3. By Offering
16.13. Romania
16.13.1. Pricing Analysis
16.13.2. Market Share Analysis, 2022
16.13.2.1. By Vertical
16.13.2.2. By Data Type
16.13.2.3. By Offering
16.14. India
16.14.1. Pricing Analysis
16.14.2. Market Share Analysis, 2022
16.14.2.1. By Vertical
16.14.2.2. By Data Type
16.14.2.3. By Offering
16.15. Bangladesh
16.15.1. Pricing Analysis
16.15.2. Market Share Analysis, 2022
16.15.2.1. By Vertical
16.15.2.2. By Data Type
16.15.2.3. By Offering
16.16. Australia
16.16.1. Pricing Analysis
16.16.2. Market Share Analysis, 2022
16.16.2.1. By Vertical
16.16.2.2. By Data Type
16.16.2.3. By Offering
16.17. New Zealand
16.17.1. Pricing Analysis
16.17.2. Market Share Analysis, 2022
16.17.2.1. By Vertical
16.17.2.2. By Data Type
16.17.2.3. By Offering
16.18. China
16.18.1. Pricing Analysis
16.18.2. Market Share Analysis, 2022
16.18.2.1. By Vertical
16.18.2.2. By Data Type
16.18.2.3. By Offering
16.19. Japan
16.19.1. Pricing Analysis
16.19.2. Market Share Analysis, 2022
16.19.2.1. By Vertical
16.19.2.2. By Data Type
16.19.2.3. By Offering
16.20. South Korea
16.20.1. Pricing Analysis
16.20.2. Market Share Analysis, 2022
16.20.2.1. By Vertical
16.20.2.2. By Data Type
16.20.2.3. By Offering
16.21. GCC Countries
16.21.1. Pricing Analysis
16.21.2. Market Share Analysis, 2022
16.21.2.1. By Vertical
16.21.2.2. By Data Type
16.21.2.3. By Offering
16.22. South Africa
16.22.1. Pricing Analysis
16.22.2. Market Share Analysis, 2022
16.22.2.1. By Vertical
16.22.2.2. By Data Type
16.22.2.3. By Offering
16.23. Israel
16.23.1. Pricing Analysis
16.23.2. Market Share Analysis, 2022
16.23.2.1. By Vertical
16.23.2.2. By Data Type
16.23.2.3. By Offering
17. Market Structure Analysis
17.1. Competition Dashboard
17.2. Competition Benchmarking
17.3. Market Share Analysis of Top Players
17.3.1. By Regional
17.3.2. By Vertical
17.3.3. By Data Type
17.3.4. By Offering
18. Competition Analysis
18.1. Competition Deep Dive
18.1.1. Google LLC (Alphabet Inc.)
18.1.1.1. Overview
18.1.1.2. Product Portfolio
18.1.1.3. Profitability by Market Segments
18.1.1.4. Sales Footprint
18.1.1.5. Strategy Overview
18.1.1.5.1. Marketing Strategy
18.1.2. IBM Corporation
18.1.2.1. Overview
18.1.2.2. Product Portfolio
18.1.2.3. Profitability by Market Segments
18.1.2.4. Sales Footprint
18.1.2.5. Strategy Overview
18.1.2.5.1. Marketing Strategy
18.1.3. Microsoft Corporation
18.1.3.1. Overview
18.1.3.2. Product Portfolio
18.1.3.3. Profitability by Market Segments
18.1.3.4. Sales Footprint
18.1.3.5. Strategy Overview
18.1.3.5.1. Marketing Strategy
18.1.4. Amazon Web Services, Inc. (Amazon.com, Inc.)
18.1.4.1. Overview
18.1.4.2. Product Portfolio
18.1.4.3. Profitability by Market Segments
18.1.4.4. Sales Footprint
18.1.4.5. Strategy Overview
18.1.4.5.1. Marketing Strategy
18.1.5. NVIDIA Corporation
18.1.5.1. Overview
18.1.5.2. Product Portfolio
18.1.5.3. Profitability by Market Segments
18.1.5.4. Sales Footprint
18.1.5.5. Strategy Overview
18.1.5.5.1. Marketing Strategy
18.1.6. Intel Corporation
18.1.6.1. Overview
18.1.6.2. Product Portfolio
18.1.6.3. Profitability by Market Segments
18.1.6.4. Sales Footprint
18.1.6.5. Strategy Overview
18.1.6.5.1. Marketing Strategy
18.1.7. Qualcomm, Inc.
18.1.7.1. Overview
18.1.7.2. Product Portfolio
18.1.7.3. Profitability by Market Segments
18.1.7.4. Sales Footprint
18.1.7.5. Strategy Overview
18.1.7.5.1. Marketing Strategy
18.1.8. Salesforce, Inc.
18.1.8.1. Overview
18.1.8.2. Product Portfolio
18.1.8.3. Profitability by Market Segments
18.1.8.4. Sales Footprint
18.1.8.5. Strategy Overview
18.1.8.5.1. Marketing Strategy
18.1.9. Siemens AG
18.1.9.1. Overview
18.1.9.2. Product Portfolio
18.1.9.3. Profitability by Market Segments
18.1.9.4. Sales Footprint
18.1.9.5. Strategy Overview
18.1.9.5.1. Marketing Strategy
18.1.10. Oracle Corporation
18.1.10.1. Overview
18.1.10.2. Product Portfolio
18.1.10.3. Profitability by Market Segments
18.1.10.4. Sales Footprint
18.1.10.5. Strategy Overview
18.1.10.5.1. Marketing Strategy
19. Assumptions & Acronyms Used
20. Research Methodology
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