Global Embedded AI Market Size study & Forecast, by Offering (Hardware, Software, Services), by Data Type (Sensor Data, Image and Video Data, Numeric Data, Categorical Data, Other Data), by Vertical (BFSI, IT & ITES, Retail & E-commerce, Manufacturing, En

Global Embedded AI Market Size study & Forecast, by Offering (Hardware, Software, Services), by Data Type (Sensor Data, Image and Video Data, Numeric Data, Categorical Data, Other Data), by Vertical (BFSI, IT & ITES, Retail & E-commerce, Manufacturing, Energy & Utilities, Transportation & Logistics, Healthcare & Life Sciences, Media & Entertainment, Telecom, Automotive, Other Verticals), and Regional Analysis, 2023-2030

Global Embedded AI Market is valued approximately USD 8.2 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 14% over the forecast period 2023-2030. Embedded AI refers to the integration of artificial intelligence (AI) capabilities directly into devices, systems, or applications, enabling them to process data, make intelligent decisions, and perform tasks without relying on cloud-based resources. By embedding AI algorithms and models into edge devices, such as sensors, appliances, or industrial machinery, embedded AI enables real-time data analysis, local inference, and autonomous operation, enhancing efficiency, responsiveness, and intelligence at the edge of the network. The driving factors boosting the market growth are increasing demand for Artificial Intelligence (AI) and growing demand for Real-Time Decision-Making.

According to Statista, the global AI market estimated to be worth USD 142.3 billion as of 2023, continues to grow by the influx of investments. The overall annual corporate investment in AI startups climbed by five billion dollars between 2020 and 2022, roughly double the amount invested previously. Another driving factor is growing demand for Real-Time Decision-Making. Many applications require real-time decision-making capabilities, such as autonomous vehicles, robotics, and industrial automation. Embedded AI allows for instant data analysis and decision-making at the edge, eliminating the need for data transmission to a centralized system and enabling faster response times. Moreover, deployment of 5G networks coupled with Edge AI and rising emphasis on ethical AI is expected to create lucrative opportunities in the market. However, the high cost of Embedded AI solutions and limited availability of skilled talent stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Embedded AI Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 due to the presence of companies with cutting-edge AI technology, strong R&D skills, rising demand for intelligence edge services, and an established market ecosystem. However, Asia Pacific is expected to become the fastest growing during the forecast period, owing to factors such as growing urbanization, a robust manufacturing base, rising IoT application demand, and improvements in AI technology. The Asia Pacific market offers enormous development prospects for Embedded AI technologies and solutions thanks to strong government support, a robust startup ecosystem, and investments in AI infrastructure.

Major market player included in this report are:
Qualcomm Technologies
Google LLC
Microsoft Corporation
International Business Machines Corporation (IBM)
Amazon Web services
Code Time Technologies
LUIS Technology
Oracle Corporation
Intel Corporation
Eigen Technologies

Recent Developments in the Market:
In April 2023, IBM launched Watson Edge for Financial Services, a solution that can be used by financial institutions to enhance customer service, fraud detection, and risk management.
In March 2023, IBM acquired Instana, an application performance monitoring software provider, in order to expand its edge AI capabilities and offers customers a holistic perspective on their applications. This move enhances IBM's ability to deliver comprehensive solutions for application monitoring and optimization.

Global Embedded AI Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered – Offering, Data Type, Vertical, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Offering:
Hardware
Software
Services
By Data Type:
Sensor Data
Image and Video Data
Numeric Data
Categorical Data
Other Data
By Vertical:
BFSI
IT & ITES
Retail & E-commerce
Manufacturing
Energy & Utilities
Transportation & Logistics
Healthcare & Life Sciences
Media & Entertainment
Telecom
Automotive
Other Verticals

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
Qualcomm Technologies
Google LLC
Microsoft Corporation
International Business Machines Corporation (IBM)
Amazon Web services
Code Time Technologies
LUIS Technology
Oracle Corporation
Intel Corporation
Eigen Technologies

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