Future Market Insights
Embedded Intelligence Market: Introduction
The demand within the global market for embedded intelligence has been rising on account of the need to manufacture smarter products. Embedded intelligence is the ability of a product or item to self-analyse its performance in order to make ramifications and improvements. Several technologies are deployed while manufacturing products with embedded intelligence, and this factor has played a key role in the growth of the global market. Embedded has applications in multiple sectors and industries including healthcare, banking, and electronics. The ease with which an intelligent system functions has played a vital role in the growth of the global market for embedded intelligence.
The use of embedded intelligence for the manufacture of intelligent car tags has played a key role in market growth. Furthermore, several types of electronic and electric devices are equipped with embedded intelligence. This helps in increasing the life and durability of these products which has given an impetus to market growth. The presence of a seamless industry for developing new IoT technologies has also aided the growth of the global embedded intelligence market. The revenue share of the global embedded intelligence market is projected to escalate to new heights in the years to follow. Moreover, the need for a seamless and well-performing electronics industry has also aided market growth.
The growth of the North American market for embedded intelligence has outdone the growth of all other regional segments. This majorly owes to the swift adoption of intelligent technologies in the US and Canada. The market for embedded intelligence in Asia Pacific is also gathering swing in recent times.
Embedded intelligence is the technology extension of embedded software and artificial intelligence. It is categorized as the ability of a process, product or service to reflect its usage load and operational performance. Further, embedded intelligence assists in analyzing product working environment to enhance and control the overall product performance. This capability of machine unleashing new opportunities to increase quality or to ensure better customer satisfaction by providing accurate work with greater efficiency than humans.
Machines earn the ability of self-reflection by collecting information via inbuilt hardware devices such as sensors and as per extraction of information, the machine generates respond on extracted input. The embedded intelligence is an artificial thinking ability, which enables the machine to think and work similar to humans in a certain situation.
Embedded Intelligence Market: Drivers and Restraints
Growing inclination towards the intelligent machine with self-reflection capabilities is the key driver for the embedded intelligence market during the forecast period. Further, the demand for the fast, efficient and accurate system with artificial thinking abilities to reduce human intervention is the other crucial factor propelling the growth of the industry.
On the other hand, advancement in embedded intelligence may eliminate many jobs from industries, but anticipated to create more skilled and expertized job opportunities in future, so the lack of domain expertise and job reduction are coupled together to hinder the growth of the market in forthcoming years.
Global Embedded Intelligence Market: Market Segmentation
Global Embedded Intelligence Market can be divided into five segments, the based on Solution, End-user Industry Application, Services, Application, and Region.
Segmentation on the basis of Solution Type in Embedded Intelligence Solutions market:
The major segments in Embedded Intelligence market by solution type include:
Segmentation on the basis of End-user Industry Application for Embedded Intelligence Market:
The major segments of Embedded Intelligence Market on the basis of the end-user industry application include:
Segmentation on the basis of Services for Embedded Intelligence Market:
The major segments of Embedded Intelligence Market on the basis of the services include:
Segmentation on the basis of the application for Embedded Intelligence Market:
The major segments of Embedded Intelligence Market on the basis of the application include:
Segmentation on the basis of Region for Embedded Intelligence Market:
The major segments of Embedded Intelligence Market on the basis of Region include:
Global Embedded Intelligence Market: Regional Trend
Due to the massive advancement of technology in developing economies such as North America and Europe are expected to drive the embedded intelligence market over the forecast period. Further continuous innovation and development in artificial intelligence market is the another growth driver of the industry in the respective region.
Growing inclination towards the development of IT industries and infrastructures in emerging economies such as India and China are projected to propel the embedded intelligence market in recent years. Also, the availability of cheap and skilled human resources is another key driver piloting the growth of the industry in the Asia Pacific region.
Global Embedded Intelligence Market: Competitive Landscape
Some of the prominent players in the Embedded Intelligence Market includes Ciena Corporation, Mindtree, and DFKI GmbH.
Few leading vendors of artificial intelligence and embedded software are anticipated to expand their capabilities on embedded intelligence. Advantech, Enea, Express Logic, Green Hills Software, Intel Corporation, Mentor Graphics, Microsoft Corporation Inc., NXP Semiconductors and Texas Instruments are the major companies catering artificial intelligence and embedded software.
MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.
The report provides the following information:
The main aim of the report is to:
MRR.BIZ is a leading provider of strategic market research. Our vast repository consists research reports, data books, company profiles, and regional market data sheets. We regularly update the data and analysis of a wide-ranging products and services around the world. As readers, you will have access to the latest information on almost 300 industries and their sub-segments. Both large Fortune 500 companies and SMEs have found those useful. This is because we customize our offerings keeping in mind the specific requirements of our clients.