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

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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.

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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

Report Attribute

Details

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Market size value in 2023

USD 3.26 billion

Revenue forecast in 2030

USD 41.17 billion

Growth rate

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CAGR of 43.6% from 2023 to 2030

Base year for estimation

2022

Historical data

2017 – 2021

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Forecast period

2023 – 2030

 

AI Sensor Market Segmentation

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

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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 MarketThe 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.

Contact:

Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: [email protected]
Web: https://www.grandviewresearch.com
Grand View Compass | Astra ESG Solutions
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Blockchain Press Releases

MALAYSIAN FOUNDERS BRING WEB3 TO MALAYSIAN SHORES WITH MALAYSIAN BLOCKCHAIN WEEK (MYBW) 2024

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KUALA LUMPUR, Malaysia, July 15, 2024 /PRNewswire/ — The country’s inaugural Malaysia Blockchain Week (MYBW) is poised to bring mainstream Malaysia into the world of Web 3. MYBW boasts strong Malaysian roots in an international digital space, featuring Malaysian founders and bringing together key Malaysian industry players well-known in the digital space.

The week-long event hosted by Malaysian Web3 powerhouse Lydian Labs will be held in partnership with the Malaysia Digital Economy Corporation (MDEC) and kicked off by Minister of Digital, YB Tuan Gobind Singh Deo.

MEET THE MALAYSIAN FACES OF THE BLOCKCHAIN SPACE

The Web3 space transcends international borders, attracting dedicated Malaysians to push the unexplored frontier of the industry.

As such, many Malaysians have become industry giants in the blockchain space, commanding significant influence and expertise in the industry. Despite their elusive real-life presence, lucky participants at MYBW will be able to rub shoulders with these Malaysian founders of key Web3 companies.

Youths and young-at-heart builders keen on exploring Web3 ventures as well as seasoned international investors will benefit from the congregation of blockchain experts and Web3 veterans.

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Expect to see local industry giants at MYBW, who will be present in support of the Malaysian-led initiative as well to provide unique industry insights at the event’s keynote presentations and panel discussions.

Present at the event will include Matthew Tan, the founder and CEO of the leading Ethereum block explorer, API and Analytics Platform, Etherscan.io. Prior to Etherscan, Tan founded and developed one of the earlier token-based blockchain explorers, Blockscan, for Counterparty, a smart contracts blockchain built on top of Bitcoin. He has around 15 years of industry experience, consulting and developing bespoke line of business solutions when he was a co-founder of a data/web applications solutions provider.

Next is Bobby Ong, the co-founder and COO of CoinGecko, an analytics platform for tracking cryptocurrencies and blockchain assets. CoinGecko was established in April 2014 and is one of the largest cryptoasset data aggregators in the world. Additionally, Ong is a contributing author in two digital currencies books – Handbook of Digital Currency, 1st Edition and Handbook of Blockchain, Digital Finance, and Inclusion, Volume 1. He was also included in the Forbes 2019 30 Under 30 Asia list and graduated with a Bachelor of Science in Economics from University College London in 2012.

Other Malaysian founders include, but are not limited to:

  • Siong, co-founder of Jupiter, a decentralised exchange aggregator on the Solana blockchain platform using an extensive liquidity network and advanced algorithms.
  • Shawn Chong, co-founder of Salus, a holistic Web3 security company with experience in traditional and blockchain security focusing on user protection and strategic initiatives at the intersection of blockchain and cybersecurity.
  • TN Lee, founder of Pendle Finance, a DeFi platform that enables users to tokenize and trade future yield on Ethereum assets.
  • Dr Ian Tan, co-founder of Lydian Labs, a full stack Web3 Solutions Provider focused on advisory, tech, and marketing specialised in the APAC region.
  • Nicole Yap, founder of 8SIAN NFT which artfully tokenizes the rich tapestry of Asian heritage into NFTs which celebrate the history and depth of Asian women while building a global and inclusive Asian community.
  • Julian Koh, co-founder of Aevo, a high-performance decentralised derivatives exchange focused on options.

These Malaysian powerhouses will also be joined by international industry names such as Chess, CEO of GM Network; Dr Kang Li, CSO of CertiK; Victor Ji, Co-Founder of Manta Network; Gracy Chen, CEO of Bitget; Yoann Turpin, co-founder of Wintermute; Moshe, chairman of Oobit; Mark Rydon, CEO of Aethir; John Yao, CEO of Team Secret and many more.

MINTING THE FUTURE OF MALAYSIAN WEB3

MYBW will set the tone and future for Web3 growth and widespread adoption in Malaysia, featuring 33 panel discussions, 15 keynote talks, and more than 150 speakers which will open the curtain on important blockchain topics such as regulatory issues, the decentralised finance & syariah digital economy, blockchain traceability, NFTs & Web3 Gaming, and the impacts of Artificial Intelligence (AI) on the Malaysian landscape.

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The event, anticipated to draw more than 2,500 participants, will facilitate discussions between key stakeholders, bringing together decision-makers from the government and industry leaders to mint the future of Web3 for Malaysia.

Tickets for MYBW are already available on the official website.

EVENT DETAILS:

Date: 31 July – 1 August 2024 | 10am – 6pm
Location: World Trade Centre Kuala Lumpur (WTCKL)

Website details: https://myblockchainweek.com/

About Lydian Labs

Lydian Labs is a full stack Web3 solutions provider focused on the APAC region and China, providing 3 main pillars of services: Advisory, Tech, and Marketing.

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####

To know more about Lydian Labs, visit https://bit.ly/LydianLabs or find them on X (formerly known as Twitter).

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Blockchain Press Releases

BlockScholes X Bybit Crypto Derivatives Analytics Report Reveals Investors More Bullish on ETH Than BTC

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DUBAI, UAE, July 15, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, in partnership with BlockScholes, has released its latest Crypto Derivatives Analytics Report, highlighting a notable divergence in investor sentiment between Ethereum (ETH) and Bitcoin (BTC).

The report, analyzing market trends and trading signals across spot trading volume, futures, options, and perpetual contracts, underscores a growing bullish sentiment toward ETH. Key findings indicate that investors are increasingly optimistic about ETH, particularly in anticipation of the imminent launch of the first Ether Spot ETFs in the United States. This optimism is reflected in ETH’s sustained volatility premium over BTC, which has persisted amid heightened market activity.

Key Highlights from the Report:

  • Bullish Sentiment Toward ETH: BlockScholes’s Senti-Meter Index reveals a bullish sentiment among investors toward ETH compared to BTC. This sentiment is influenced by expectations surrounding the imminent ETF launch for Ethereum.
  • ETH Futures Outperforming BTC: Despite recent market fluctuations, ETH futures have shown a quicker recovery in open interest compared to BTC. This recovery trend suggests a robust market narrative focused on ETH’s ETF prospects.
  • Strong Perpetual Trading in ETH: Significant trading volumes in ETH perpetual contracts indicate substantial long positions, possibly driven by strategic positioning ahead of anticipated market developments.
  • High ETH Option Volatility: ETH options market volatility remains elevated, especially in anticipation of ETF approval, contrasting with BTC options, which exhibit a more defensive posture.

In response to the findings, Bybit’s Head of Institutions, Eugene Cheung, commented: “The latest data underscores ETH’s resilience and market appeal as we approach key regulatory milestones. Investors are demonstrably positioning themselves favorably amidst growing market expectations.”

#Bybit / #TheCryptoArk

About Bybit

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Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 33 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

For updates, please follow: Bybit’s Communities and Social Media

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Blockchain Press Releases

Apply and Win the Dream Getaway to Austria and Cutting-edge Gadgets with Bybit Card

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DUBAI, UAE, July 15, 2024 /PRNewswire/ — Bybit, the world’s second-largest crypto exchange by trading volume, is excited to announce the launch of its Bybit Card campaign, offering users the opportunity to win extraordinary prizes, including a dream getaway to Austria and cutting-edge tech gadgets including an iPhone 15 Pro and more.

To participate in the campaign, users need to apply and spend at least 500 EUR/USD with their Bybit Card. By completing both steps, they will automatically enter the Lucky Draw, where they stand a chance to win a guaranteed prize. The first 1,000 users who fulfill the requirements will be eligible for the Lucky Draw.

The campaign will run from Jul 15, 2024, 10:00 AM UTC to Aug 18, 2024, 11:59 PM UTC. During this period, users can take advantage of this exciting opportunity to win fantastic rewards.

In addition, VIP users will receive a 30 EUR/USD card bonus, enhancing their overall Bybit Card experience.

Joan Han, sales and marketing director at Bybit, said, “With the Bybit Card, individuals can seamlessly incorporate digital finance into their everyday lives, whether they’re shopping online or covering routine expenses. By providing users with convenience and flexibility, we aim to enhance their financial experiences. Furthermore, we are thrilled to introduce a range of diverse rewards and campaigns to our global user base, thereby creating greater accessibility and convenience for utilizing digital assets.”

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The Bybit Card blends the world of digital finance with everyday transactions, offering users a seamless spending experience. For more information about the Bybit Card and how to apply, visit:https://www.bybit.com/en/promo/campaign/Apply-Card-Win-Big

#Bybit / #TheCryptoArk

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 33 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
For updates, please follow: Bybit’s Communities and Social Media

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Bybit Logo

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