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 |
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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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