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VANCOUVER, BC, CANADA, March 2, 2022 /EINPresswire.com/ -- The global AI-based Sensors Market is expected to reach USD 152.55 Billion by 2027, according to a new report by Emergen Research. The demand for the market is mainly driven by the application of artificial intelligence in different sectors, such as entertainment, education, health, transport, and utilities.

Owing to rapid urbanization and digitalization globally, end-user sectors like manufacturing, consumer electronics, and automotive and transport have experienced growth and now rely on technology-driven systems for operating. AI-based sensors are being used across these industries as they help in automating processes, help in maintaining product quality, and help in producing more efficient products.

The growth of the AI-based sensors market is expected to be restrained because of low awareness regarding the use of sensors and stigma against using IoT and Cloud services owing to its vulnerability and possibility of a leak of data. It is anticipated that extensive research and development funded by various companies and governments would help in overcoming this challenge and convert it into an opportunity for the market to thrive upon.

The study finds that how on certain account threats and challenges can act as a roadblock for the business. A thorough evaluation of the AI-based Sensors market in the light of macro-environment such as social, political, economical as well as technological environment add granularity to the overall research. In addition, the study produces real-time data on vital aspects including sales, profits, gross margin and growth prospects to show how going forward the business will witness a substantial upswing.

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Competitive Landscape

Inventive Product Launch Declaration by Crucial Players to Spur Market Growth

The report offers a complete analysis of the global AI-based Sensors market with details about each market player including company profile, financial standing, global position, revenue contribution, production and manufacturing capacity, business expansion plans, and new product launches. Key players are strategizing various plans such as M&A acquisition, partnerships, joint ventures, license agreement and collaborations.

Based on the competitive landscape, the market report analyzes the key companies operating in the industry:

Augury Systems, Glassbeam, Siemens AG, PointGrab, Maana, Tellmeplus, Sentenai, Versos Systems, Tachyus, and United Technology, among others.

Key Highlights From The Report

The neural network, in the type segment, is forecasted to grow with a significant CAGR of 37.9% during the forecast period. Consistent development in artificial intelligence is increasing the application of neural networks in sensors. It helps in the assistance of fraud detection in the BFSI and e-commerce sectors.

Artificial intelligence for the analysis of sensors enables predictions and classifications by using sensor signals as compared to other physics-based models. This latest innovation can be witnessed in the application of medical diagnosis and predictive management.

Artificial intelligence, along with machine learning algorithms, is used in different construction workflows such as quality check, scheduling, issue tracking, safety management, resource, and design management. With the infiltration of COVID-19, AI-based sensors demand is growing in these sectors for remote usage.

North America held the largest market share of 31.6% in the year 2019, owing to the rapid technological advancements and increasing government investments into the development of artificial intelligence-based sensors. Moreover, the presence of some of the leading players of the market in the region will also drive the growth of the market in the region.

The report also offers regional level analysis and market estimation for the regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Detailed Regional Analysis covers:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

To get to know more about the short-term and long-term impact of COVID-19 on this market,

Please visit: https://www.emergenresearch.com/industry-report/ai-based-sensors-market

Emergen Research has segmented the global AI-based Sensors Market on the basis of type, application, technology, and region:

Type Outlook (Revenue, USD Billion; 2017-2027)

Case-based reasoning

Ambient-intelligence

Neural networks

Inductive learning

Others

Application Outlook (Revenue, USD Billion; 2017-2027)

Biosensor

Health Monitoring

Maintenance and Inspection

Human-computer interaction

Others

Technology Outlook (Revenue, USD Billion; 2017-2027)

Natural Language Processing

Machine Learning

Computer Vision

Context-aware Computing

Key point summary of the report:

The report offers a comprehensive overview of the market size, share, and growth rate in the forecast duration.

It provides details about current scenario, historical data, giving an accurate market forecast for the coming years.

The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.

It also offers regional market analysis and forecast for prominent geographies in the sector viz., North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Industry supply chain, sourcing strategy, upstream feedstock, and downstream demand analysis has also been undertaken in the research report.

The study offers a comprehensive understanding of the demand and supply dynamics, including production and consumption rates, and mapping of the overall market.

The report employs different analytical tools including, SWOT analysis, Porter’s five forces analysis, and pricing analysis, to give precise market information.

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