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Embedded AI Market Size

ID: MRFR//10733-CR | 128 Pages | Author: Shubham Munde| June 2024

Embedded AI Market Growth Projections and Opportunities

The growth and uptake of the market for embedded AI are driven by several market factors. These factors can be grouped into chip technology advancements, an increase in edge computing, the need for real-time decision-making and IoT (Internet of Things) devices.

Advanced chip technology is instrumental to the shaping of the embedded AI market. This makes them become more efficient; processors and microcontrollers advance as a result to have more power increased in them. It allows the incorporation of AI capabilities directly into embedded systems such as smartphones, smart appliances, and industrial machinery. Real-time analytics and decision-making at the edge are made possible by these embedded chips where AI algorithms may be optimized to run efficiently on them thus enabling. Businesses like these assists in advancing AI-embedded technologies via their hardware features necessary for it.

Embedded AI plays a crucial role in edge computing through which data is processed and analyzed closer to its source as opposed to depending on cloud-based services. Consequently, this approach reduces latency, minimizes bandwidth requirements, ensures privacy and security. This makes it possible for devices themselves do not require constant connectivity with cloud infrastructure while performing artificial intelligence functions at their ends.

The desire for real-time decision-making also influences the Embedded AI market.Real-time analysis of data is important in various applications that enhances efficiency hence effective operations. Embedded AI enables devices to process and analyze data on board without relying on external platforms or human intervention. This capability ensures immediate responses and prompt actions thus increasing productivity effectiveness as well as safety measures.

Another factor driving adoption of Embedded AI is rise in IoT devices. IoT devices are connected objects that collect data that can be exchanged over the internet. These generate so much information that requires processing or analysis within short periods. Embedded AI in IoT devices help in on-device inference and analytics thus reducing the need for continued data transfer to the cloud. Because of this, different industries have come up with their own definitions of what it means to be intelligent.

Covered Aspects:
Report Attribute/Metric Details
Market Size Value In 2022 USD 9.1 Billion
Market Size Value In 2023 USD 10.41 Billion
Growth Rate 14.50% (2023-2032)
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