Blockchain Press Releases
Embedded AI Market worth $18.0 billion by 2028 – Exclusive Report by MarketsandMarkets™
CHICAGO, June 22, 2023 /PRNewswire/ — Because of rising demand for smart devices and IoT, advancements in AI technology, the rise of edge computing, the development of autonomous systems, applications across various sectors, miniaturisation and energy efficiency, and the importance of data privacy and security, the future of the Embedded AI market appears promising. As AI becomes an intrinsic aspect of embedded systems, boosting their functionality and decision-making skills, this industry is likely to increase significantly.
The global Embedded AI Market is projected to grow from USD 9.4 billion in 2023 to USD 18.0 billion by 2028 at a compound annual growth rate (CAGR) of 14.0% during the forecast period, according to a new report by MarketsandMarkets™. The Embedded AI Market is expected to grow significantly during the forecast period, owing to various business drivers like growing demand for intelligent and autonomous systems for a personalized experience and increasing advancements in AI and ML technologies for better and smart decisions. Furthermore, the proliferation of connected devices and IoT ecosystem for effective communications and the rising usage of Embedded AI for industry-specific applications drive market growth.
Browse in-depth TOC on “Embedded AI Market“
271 – Tables
55 – Figures
320 – Pages
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Scope of the Report
|
Report Metrics |
Details |
|
Market size available for years |
2017–2028 |
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Base year considered |
2022 |
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Forecast period |
2023–2028 |
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Forecast units |
USD (Billion) |
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Segments covered |
Offering, Data Type, Vertical, and Region |
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Geographies covered |
North America, Asia Pacific, Europe, the Middle East & Africa, and Latin America |
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Companies covered |
Google (US), IBM (US), Microsoft (US), AWS (US), NVIDIA (US), Intel (US), Qualcomm (US), Arm (UK), AMD (US), MediaTek (Taiwan), Oracle (US), Salesforce (US), NXP (Netherlands), Lattice (Oregon), Octonion (Switzerland), NeuroPace (US), Siemens (Germany), HPE (US), LUIS Technology (Germany), Code Time Technologies (Canada), HiSilicon (China), VectorBlox (Canada), Au-Zone Technologies (Canada), STMicroelectronics (Switzerland), SenseTime (Hong Kong), Edge Impulse (US), Perceive (US), Eta Compute (US), SensiML (US), Syntiant (US), Graphcore (UK), and SiMa.ai (US). |
By offering, Services to register for the highest CAGR during the forecast period
The scope of the services segment comprises training and consulting, system integration and implementation, and support and maintenance. The services segment of the Embedded AI Market is growing rapidly as businesses increasingly look to outsource the development and deployment of AI solutions. This is due to a number of factors, including the complexity of developing AI-powered applications, the need for specialized expertise, and the high cost of in-house development. Businesses looking to adopt AI should consider the services segment as a viable option for developing and deploying AI solutions.
By data type, numeric data to register for the highest market size during the forecast period
The increasing demand for real-time data processing and analysis boosts the demand for numeric data type in the Embedded AI Market. Numeric data plays a crucial role in the Embedded AI Market, forming the foundation for training, optimizing, and deploying AI models on embedded systems. Numeric data captured by sensors, cameras, or other sources in real-time serves as input to the deployed AI models, allowing them to process the data and generate actionable outputs promptly. This is crucial for robotics, autonomous vehicles, or industrial automation applications, where quick decision-making is required.
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By region, Asia Pacific to account for the highest growth rate during the forecast period
Embedded AI adoption in the Asia Pacific region is experiencing significant growth. It is driven by several factors, including the region’s strong manufacturing base, rapid urbanization, increasing demand for IoT applications, and advancements in AI technologies. With strong government support, a thriving startup ecosystem, and investments in AI infrastructure, the Asia Pacific market presents significant growth opportunities for Embedded AI technologies and solutions.
Top Key Companies in Embedded AI Market:
Some major players in the Embedded AI Market include Google (US), IBM (US), Microsoft (US), AWS (US), NVIDIA (US), Intel (US), Qualcomm (US), Arm (UK), AMD (US), MediaTek (Taiwan), Oracle (US), Salesforce (US), NXP (The Netherlands), Lattice (US), Octonion (Switzerland), NeuroPace (US), Siemens (Germany), HPE (US), LUIS Technology (Germany), Code Time Technologies (Canada), HiSilicon (China), VectorBlox (Canada), AU-Zone Technologies (Canada), STMicroelectronics (Switzerland), SenseTime (Hong Kong), Edge Impulse (US), Perceive (US), Eta Compute (US), SensiML (US), Syntiant (US), Graphcore (UK), and SiMa.ai (US).
Recent Developments:
- In April 2023, IBM announced the launch of Watson Edge for Financial Services, a solution that helps financial institutions deploy AI at the edge to improve customer service, fraud detection, and risk management.
- In April 2023, Qualcomm Technologies partnered with eInfochips, an Arrow company, to launch Edge Labs. Edge Labs is a program that will help developers and innovators accelerate the development and deployment of AI applications for embedded devices. This partnership will help developers and innovators accelerate developing and deploying AI applications for embedded devices. Edge Labs will provide developers with access to Qualcomm’s expertise in AI and eInfochips’ development and deployment services.
- In March 2023, Arm partnered with Google Cloud to bring Arm-based solutions to the Google Cloud Platform (GCP). The partnership is expected to help Arm customers take advantage of GCP’s AI and machine learning capabilities and to help Google Cloud customers deploy Arm-based solutions.
- In March 2023, IBM acquired Instana, an application performance monitoring software provider. The acquisition will help IBM to expand its edge AI capabilities and provide customers with a more comprehensive view of their applications.
- In March 2023, the AI-powered tool has been designed to assist Microsoft 365 users in performing various tasks, such as troubleshooting, training, and onboarding. Microsoft 365 Copilot, as an embedded AI technology, is integrated within a broader software ecosystem and has been created to function seamlessly with other Microsoft 365 products and services.
- In October 2022, Intel partnered with Amazon Web Services (AWS) to bring Intel-based solutions to AWS. The partnership is expected to help Intel customers use AWS’s AI and machine learning capabilities to help AWS customers deploy Intel-based solutions.
- In June 2022, Microsoft announced a partnership with NVIDIA to accelerate the development and deployment of edge AI applications. The partnership will combine Microsoft’s Azure platform with NVIDIA’s AI hardware and software to create a more comprehensive solution for edge computing.
- In Jan 2022, IBM partnered with Google Cloud to accelerate the development and deployment of edge AI applications. The partnership will combine IBM’s AI and ML expertise with Google Cloud’s infrastructure and AI capabilities.
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Embedded AI Market Advantages:
- Sensitive data no longer needs to be sent to external servers or the cloud for processing thanks to embedded AI. Data can be maintained on the device or on a private network by performing AI computations locally, boosting privacy and lowering the possibility of data breaches or unauthorised access. For applications that deal with sensitive data, such those in healthcare or banking, this is essential.
- Data communication to remote servers is not necessary because embedded AI processes data on the device itself. This allows for quicker response times and considerably lowers latency. When compared to conventional computing architectures, embedded AI also enables optimised hardware-software integration by utilising specialised chips or accelerators to achieve improved speed and energy efficiency.
- By incorporating AI capabilities directly into devices, no additional infrastructure or cloud-based resources are required. This saves operational costs while simplifying deployment. Furthermore, because the intelligence is dispersed across several devices rather than depending on a centralised server architecture, embedded AI systems grow readily. Because of its scalability and low cost, embedded AI is an appealing solution for both small-scale and large-scale deployments.
- Embedded AI enables edge devices to make intelligent decisions on their own without relying on ongoing contact with central servers. This provides edge intelligence and autonomy, allowing devices to analyse and respond to data locally, resulting in faster and more efficient operations. Edge intelligence is especially useful in settings requiring real-time judgements, such as autonomous drones or smart manufacturing.
- By analysing data locally and customising the experience to each user’s preferences and behaviours, embedded AI can enhance user interactions. This makes it possible for devices to offer personalised recommendations, predictive ideas, and customised interactions, improving user engagement and pleasure.
- Through resource management and local computing, embedded AI systems can reduce their overall energy usage. Embedded AI devices can work effectively with lower energy requirements by minimising the need for data transmission and decreasing dependency on power-hungry cloud servers. For devices like wearables or IoT sensors that run on batteries or have limited resources, this is especially advantageous.
- Devices with inbuilt AI may carry out complicated calculations locally without largely relying on cloud resources or constant network connectivity. As a result, embedded AI solutions are more readily available and reasonably priced for both organisations and consumers. This decreases network dependence and associated costs. It also makes applications possible in rural or unconnected settings where cloud connectivity can be expensive or scarce.
Report Objectives
- To define, describe, and predict the Embedded AI Market by offering (hardware, software, and services), data type, vertical, and region
- To provide detailed information related to major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the market growth
- To analyze the micro markets with respect to individual growth trends, prospects, and their contribution to the total market
- To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the Embedded AI Market
- To analyze opportunities in the market and provide details of the competitive landscape for stakeholders and market leaders
- To forecast the market size of segments for five main regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
- To profile key players and comprehensively analyze their market rankings and core competencies
- To analyze competitive developments, such as partnerships, new product launches, and mergers and acquisitions, in the Embedded AI Market
- To analyze the impact of recession across all the regions across the Embedded AI Market
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DUBAI, UAE, Nov. 15, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, opens up the November arena for the Bybit Crypto Titans trading competition. Available for users in select regions, a prize pool of 55,000 USDT will be available for a limited time only.
From now to Nov. 30, eligible traders can level up their trading strategies and amplify their winning chances by inviting friends to share two prize pools in two simple steps: register for the event at the Grand Arena, and invite friends and trade.
Battlefields: Once in the Arena, users can pick their battlefields. Up to 30,000 USDT are up for grabs in the Team Battlefield ranked by total trading volume, while another 15,000 USDT is reserved for traders in the Solo Battlefield competing by PnL(%).
More perks: Additionally, top traders and leaders will receive extra perks. Participants will receive a bonus 5 USDT for every new qualified referee, and the first 50 Team Leaders whose team exceeds a threshold amount in trading volume will be entitled to a 100 USDT bonus.
“As trading volumes overall are climbing, we are seeing so many talented traders in our community with a knack for navigating fast-moving markets. This event gives some of them an incentive to share their passion with their friends, and there is room for rewards for the solo trading pros to shine as well,” said Joan Han, Sales and Marketing Director of Bybit.
Market sentiment and activities have been trending up in recent weeks globally, and the enthusiasm is shared among users in niche markets. While traders rush to capture opportunities in a heated market, the Crypto Titans competition encourages users to bring out the best trading game and hone their trading skills for healthier returns.
Find out more about Bybit’s Crypto Titans: November Showdown, terms and conditions apply.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
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With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.
The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.
- Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few. - Cardinal Health announces two strategic additions to its portfolio
Cardinal Health will acquire a majority stake in GI Alliance (GIA), the country’s leading gastroenterology (GI) management services organization (MSO), from a combination of GIA physician owners and funds managed by affiliates of Apollo. Cardinal Health will also acquire the Advanced Diabetes Supply Group (ADSG), one of the country’s leading diabetic medical supplies providers, for approximately $1.1 billion in cash. - BlackRock Launches New BUIDL Share Classes Across Multiple Blockchains to Expand Access and Potential of BUIDL Ecosystem
This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems. - Primo Brands Corporation Announces Successful Completion of Merger of Primo Water and BlueTriton Brands
“I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country,” said Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands. - Jackson Hewitt Tax Services Expands Workforce, Offering Job Opportunities Nationwide for Upcoming Tax Filing Season
The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately. - PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
- Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
- Finaya Unveils Nationwide Homeownership Platform
From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient. - GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too. - GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics. - Most US shoppers are encountering generative AI while shopping without realizing it
A survey of 700 online shoppers in the US shows 71% are unaware of having used generative AI while shopping online even though most had recently shopped at retailers currently using it. 41% of customers say they would feel comfortable using a generative AI tool from a brand they trust.
For more news like this, check out all of the latest finance-related releases from PR Newswire.
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Blockchain Press Releases
Blockchain for Good Alliance Hosts Web3 Oscar, Celebrating Innovators Advancing UN’s Sustainable Development Goals
DUBAI, UAE, Nov. 14, 2024 /PRNewswire/ — The highly anticipated Web3 Oscar, a prestigious event hosted by the Blockchain for Good Alliance (BGA), celebrating blockchain projects driving real-world impact aligned with the UN’s 17 Sustainable Development Goals (SDGs). Industry leaders gathered in Bangkok to honour innovators shaping a sustainable future.
The event was part of BGA’s November lineup, featuring two major initiatives for global change through blockchain: the Sustainable Innovation Summit and the Web3 Oscar Awards.
Sustainable Innovation Summit: A Hackathon for Social Impact
Held from September 9 to November 11, 2024, the Sustainable Innovation Summit hosted a hackathon with a $100,000 prize pool, inviting participants worldwide to create blockchain solutions addressing key issues such as poverty, clean water access, and gender equality. The summit concluded with a Demo Day at the Grand Hyatt Erawan in Bangkok, where finalists showcased their projects to blockchain pioneers, investors, and industry leaders, with opportunities for incubation support and equity-free funding.
Rising Stars
In a cinematic presentation style, 10 shortlisted projects from across the globe, participating in the Sustainable Innovation Summit’s 17 SDGs Challenge, took the stage. Each team presented their blockchain solutions to address sustainability challenges, telling the story of a “hero” confronting a global crisis (one of the 17 SDGs), with blockchain as the “tool” they wield for change.
Winners for the 17 SDGs Challenge:
- 1st Place: Grand Social Impact Award 🥇 EthicHub
- 2nd Place: Outstanding Social Innovation Award 🥈 Plastic Odyssey
- 3rd Place: Emerging Impact Award 🥉 ResearchHub
Rising Star Awards (top 10 projects, in no specific order):
- Wavy Health
- LAKE (LAK3)
- KulaDAO
- erable°
- arkreen
- UCO Network
- Edu3Labs
Web3 Oscar Awards: Honouring Leaders in Blockchain for Social Good
Coinciding with the hackathon’s Demo Day on November 11, the BGA Web3 Oscar Award recognizes individual contributions to blockchain for social good across three categories, with up to 7 total winners.
Each category highlights individual efforts aligning with BGA’s mission.
The Collaboration Bridge Award honours individuals who have played a vital role in guiding the strategic direction of the Blockchain for Good Alliance (BGA). This year’s recipients are:
- Harn, CEO of Trigger Asset Management
- Mariana de la Roche Wills from INATBA (International Association for Trusted Blockchain Applications) and de la Roche W. Consulting
The Public Welfare Contribution Award celebrates individuals who have harnessed #BlockchainForGood. This award was presented to:
- BreeAnne Yek, Consultant at The Verdant Room
- Milica Dimitrijevic from Positiveblockchain.io
These individuals have demonstrated remarkable dedication, guidance, and pioneering work, significantly advancing the mission of the Blockchain for Good Alliance (BGA) in promoting sustainable development through blockchain technology.
In her closing remarks, Helen Liu, Co-founder and COO of Bybit and founder of BGA, explained how blockchain can bring people together to make a real difference worldwide. Her vision for leveraging blockchain to create worldwide impact was both inspiring and forward-thinking.
About Blockchain for Good Alliance (BGA)
The Blockchain for Good Alliance (BGA) is a long term collaborative non-profit initiative with key partners with the main aim to contribute to societal good by using blockchain technology to solve real world problems. By convening leaders, innovators, and organisations from across the blockchain community, BGA seeks to drive innovation, collaboration, and action towards a more sustainable and equitable world.
For more information
Email: [email protected]
Website: www.blockchainforgood.xyz
Twitter: www.twitter.com/chainforgood
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