Embedded AI Market Size Is Expected To Reach USD 21,930.4 Million By 2030


 San Francisco, 29 Oct 2024: The Report Embedded AI Market Size, Share & Trends Analysis Report By Offering (Hardware, Software), By Data Type (Sensor Data, Image And Video Data), By Vertical (BSFI, Retail), By Region, And Segment Forecasts, 2024 - 2030

The global embedded AI market size is estimated to reach USD 21.93 billion by 2030, registering a CAGR of 14.0% from 2024 to 2030. The increasing demand for more powerful and energy-efficient processors is driven by the need to effectively manage complex AI algorithms and integrate with Image & Video Data-based AI services, enhancing scalability and providing users with opportunities to utilize embedded AI solutions. In addition, the rising need for intelligent and autonomous systems that offer personalized experiences and the expansion of connected devices and IoT ecosystems for improved communication will further stimulate global market growth.

The growing demand for advanced technologies that deliver personalized and adaptive experiences drives market acceptance. The push for personalized interactions has led to incorporating AI capabilities into several embedded systems. By utilizing embedded AI, devices and applications can analyze user data, preferences, and behaviors to offer customized recommendations, suggestions, and responses, thereby boosting user satisfaction and engagement. Moreover, embedded AI solutions can facilitate autonomous behavior in devices and systems, minimizing the need for continuous user input. This is especially valuable in areas like autonomous vehicles, smart home automation, and industrial automation, where AI algorithms can support intelligent decision-making and automated actions.

Access Research Report of Embedded AI Market @ https://www.grandviewresearch.com/industry-analysis/embedded-ai-market-report

Recent Developments

  • In August 2023, IBM announced the completion of its acquisition of Apptio Inc. To meet the growing demand for AI and foundational models among its clients and partners, IBM plans to enhance its watsonx AI and data platform by integrating Apptio's anonymized IT spend data. This integration will drive innovation, provide deeper insights, and create additional value. Combining Apptio's products with IBM's IT automation portfolio will offer businesses a comprehensive technology management platform, enabling them to optimize and automate decisions across their entire IT landscape.
  • In April 2024, Google introduced its new Axion processors, an advanced line of Arm-based CPUs tailored for its data centers. These processors are set to deliver a 30% performance boost over the fastest existing Arm-based cloud instances. Additionally, they offer up to 50% better performance and up to 60% greater energy efficiency compared to current-generation x86-based instances.

Key Embedded AI Company Insights

Prominent firms have used product launches and developments, followed by expansions, mergers and acquisitions, partnerships, and collaboration contracts and agreements, as their primary business strategy to increase their market share. The companies have used various techniques to enhance market penetration and boost their position in the competitive industry. For instance, in April 2023, IBM unveiled Watson Edge for Financial Services, a solution designed to enable financial institutions to deploy AI at the edge. This new offering aims to enhance customer service, improve fraud detection, and strengthen risk management. Similarly, in March 2023, Arrow Electronics, Inc. and Qualcomm Technologies International, Ltd. expanded their strategic partnership by launching Edge Labs, a center of excellence under Arrow. Edge Labs is designed to support customers in fast-tracking the development of connected, intelligent edge devices utilizing Qualcomm Technologies' solutions. The initiative aims to address IoT development challenges and promote the widespread adoption of Edge AI across diverse IoT applications and use cases.

Key Embedded AI Companies:

The following are the leading companies in the embedded AI market. These companies collectively hold the largest market share and dictate industry trends.

  • HPE
  • Google (Alphabet Inc.)
  • IBM
  • Intel
  • LUIS Technology
  • Microsoft
  • NVIDIA
  • Oracle
  • Qualcomm
  • Salesforce
  • Siemens

About Grand View Research

Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.

For More Information: https://www.grandviewresearch.com/horizon

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