According to a research report "Embedded AI Market by Offering (Hardware, Software, Services), Data Type (Numerical Data, Categorical Data, Image & Video Data), Vertical (Automotive, Manufacturing, Healthcare & Life Sciences, Telecom), and Region – Global Forecast to 2028" published by MarketsandMarkets, the Embedded AI market is projected to grow from USD 9.4 billion in 2023 to USD 18.0 billion by 2028 at a compound annual growth rate (CAGR) of 14.0% during the forecast period. The Embedded AI market is expected to grow significantly during the forecast period, owing to various business drivers like growing demand for intelligent and autonomous systems for a personalized experience and increasing advancements in AI and ML technologies for better and smart decisions. Furthermore, the proliferation of connected devices and IoT ecosystem for effective communications and the rising usage of Embedded AI for industry-specific applications drive market growth.

By offering, Services to register for the highest CAGR during the forecast period

The scope of the services segment comprises training and consulting, system integration and implementation, and support and maintenance. The services segment of the Embedded AI market is growing rapidly as businesses increasingly look to outsource the development and deployment of AI solutions. This is due to a number of factors, including the complexity of developing AI-powered applications, the need for specialized expertise, and the high cost of in-house development. Businesses looking to adopt AI should consider the services segment as a viable option for developing and deploying AI solutions.

Market Drivers:

• Growing demand for intelligent and autonomous systems for personalized experiences.
• Rise in demand for more powerful and energy-efficient processors.

Market Restraints:

• Concerns related to data privacy and security.

Market Opportunities:

• Development of advanced processors to handle complex AI algorithms.

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By data type, numeric data to register for the highest market size during the forecast period

The increasing demand for real-time data processing and analysis boosts the demand for numeric data type in the embedded AI market. Numeric data plays a crucial role in the embedded AI market, forming the foundation for training, optimizing, and deploying AI models on embedded systems. Numeric data captured by sensors, cameras, or other sources in real-time serves as input to the deployed AI models, allowing them to process the data and generate actionable outputs promptly. This is crucial for robotics, autonomous vehicles, or industrial automation applications, where quick decision-making is required.

• By Offering: Software is expected to register the highest CAGR during the forecast period.
• By Data Type: Numeric data is expected to account for the largest market size.
• By Services: Training and consulting services are expected to register the highest CAGR.
• By Region: North America is expected to account for the largest market size.

Market Players:

• Major players include Google, IBM, Microsoft, NVIDIA, Intel, Qualcomm, Arm, and others.

Report Scope:

The report categorizes the market based on offering, data type, vertical, and region.

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