Global Embedded AI Computing Platforms Market size was valued at US$ XX Mn in 2019 and the total revenue is expected to grow at XX% through 2020 to 2026, reaching nearly US$ XX Mn.
The global Embedded AI Computing Platforms Market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The Global Embedded AI Computing Platforms market report also provides trends by market segments, technology, and investment with a competitive landscape.
Global Embedded AI Computing Platforms Market
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Global Embedded AI Computing Platforms Market Overview
Over the last decade, the use of Embedded AI Computing Platform has witnessed tremendous growth in recent years due to increased usage in end-user industries. Embedded AI computing system is a combination of AI software and applications which are designed to perform certain dedicated task and function in an electrical device. Embedded AI system helps and assists in producing actionable results for end-users via the use of advanced analytics. With the use of AI systems, the business can improve its performance and customer experience. Microprocessors, microcontrollers, and other software supported with chips are important for embedded AI systems. AI is ben also employed in video games such as bots in the game which are designed to play as an opponent where humans are desired or can't stand.
Since the embedded system is designed and dedicated to a specific task, end users can use it to reduce the cost of the product and to improve reliability and performance. These systems have diverse features such as high speed, adaptability, accuracy, and low power consumption performing functions such as data processing, simplification and transmitting data, and others.
Global Embedded AI Computing Platforms Market Dynamics
Increased adoption of advanced technological software and application for various business purposes are fueling the market growth. Embedded AI computing platforms support businesses to process data quickly and to provide actionable results that will help in taking business decisions and working fast. Their use in various day-to-day applications such as for controlled security gates, opening & closing of the door automatically, Microphones, and other controlled appliances such as voice and face recognition has driven the market, especially in North America where the use of AI computing is high along with the use of consumer electronics. Embedded AI computing platforms are representations of knowledge so that AI can solve problems or understandably exhibit them which has impacted positively on the market growth.
Moreover, rapid digitalization and adoption of technology in business combined with the presence of key market players & the availability of substitutes boosted the market growth opportunities. The growth of the market can also be attributed to the increased investments and government support for research and development activities for producing and developing advanced methods for defence AI systems to meet military agendas. They work fast and are reliable However, Embedded systems are hard to maintain, have complications in taking back up of embedded files, and have less power durability if they are battery powered which are hampering the market growth.
Global Embedded AI Computing Platforms Market Segment Analysis
Global Embedded AI Computing Platforms Market 1Based on components, the market is segmented into hardware and software. The segment of software dominated the market in recent years due to its versatile use. Software is a computer program that mimics human behaviors by learning data patterns and insights. Top Embedded AI computing software includes Machine Learning, speech and voice recognition, virtual assistant, etc. These AI software can make data from scratch with machine learning and other capabilities to assist in delivering functionality for users and making business simpler. Whereas Embedded AI hardware are a class of specialized hardware accelerator designed to accelerate AI applications such as machine learning and vision. Due to which the segment has recorded positive growth.
By end-user, the market is dominated by the health care industry. Though, other end-user also use the AI system. In healthcare embedded AI is practised for digital consultation and robotic surgeries. People working tirelessly from 9 to 5 may not be able to visit doctors, with the rise in smartphones the popularity of digital consultancy has increased. The use of AI in surgery and operations has proven to be the most opportunistic as they perform surgery more accurate results in less pain, blood loss, and shorter time spent in hospitals which are driving the market growth. Whereas the segment of retail & E-commerce has also noted growth as they can assist in buying online by showing preferred searches to remind continuously about completing buying process from the cart which will minimize the losses.
Global Embedded AI Computing Platforms Market Regional Insights:
Global Embedded AI Computing Platforms Market 2
The Asia Pacific and North America are witnessing high growth in the market due to the rapid adoption of embedded artificial intelligence computing systems by various end-user such as healthcare, automotive, banking and finance, consumer electronics, and others in the region. In North America, the use of AI systems is high in the US as the presence of key market players of different sectors in the country such as Intel Corporation, Apple Inc., Next IT Corporation, and other International Business Machines Corporation (IBM), and others that use a modernized production system which has boosted the market. In the Asia pacific rise in the investments for technological advancements and research impacted positively on the market's growth especially in India and China.
The European and South American markets growth is also surging due to the adoption of AI in various sectors. In Europe, Ireland is the biggest adopter of the Embedded AI system though a report result that the European region is still behind other regions. According to European commission data from 2020 found that 23pc of business enterprises in Ireland use at least one of these four AI applications: Machine learning, Natural language processing, and speech reorganization, using virtual chatbots or agents. Whereas in South America as key market players are increasingly adopting Embedded AI systems such as chatbots for virtual customer service agents are propelling the market growth. Other factors include public acceptance of AI and automation.
The Middle East & Africa is also curving up their market growth rates due to a continuous shift towards the adoption of in-demand technologies such as AI. The use of Embedded AI computing platforms in the region will create employment opportunities and enhanced production. As per the IDC International Data Corporation, by 2021 the AI system in MEA was anticipated to reach US$ 100 million.
The objective of the report is to present a comprehensive analysis of the Global Embedded AI Computing Platforms Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the Global Embedded AI Computing Platforms Market dynamics, structure by analyzing the market segments and project the Global Embedded AI Computing Platforms Market size. Clear representation of competitive analysis of key players by Component, price, financial position, product portfolio, growth strategies, and regional presence in the Global Embedded AI Computing Platforms Market make the report investor’s guide.
Global Embedded AI Computing Platforms Market Scope: Inquire before buying
Global Embedded AI Computing Platforms Market 3
Global Embedded AI Computing Platforms Market, by Region
• North America
• Asia Pacific
• Middle East and Africa
• South America
Global Embedded AI Computing Platforms Market Key Players
• Sift Science
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