Embedded AI Computing Platforms Market: Overview
Embedded AI computing platforms is a combination of embedded artificial intelligence software embedded with applications that are designed and developed to perform explicit dedicated functions in an electronic machine or device. The embedded AI computing supports to automate the business process and tasks to provide business and users with actionable results via advanced analytics, it also supports business in decision making process and improve overall customer experience. Microprocessors (MPUs), microcontrollers (MCUs), or other custom designed integrated chips along with supporting software in Read Only Memory are essential for working of embedded computing systems. These systems have diverse features such as low power consumption, accuracy, high speed, reusability, adaptability, size, and reliability. Some of the other component elements in an Embedded AI computing platforms also include input/output devices, interfaces memory, display and others. In general, it includes power supply, storage, system application circuits, timers, and serial communication parts. Embedded AI computing platforms are mainly used to monitor, control, or perform a particular function of an electronic system by implementing a fixed set of rules, commands, programs or plans. Such functions include data processing, reading inputs, generating & transmitting data, display output and others.
Embedded AI Computing Platforms Market: Drivers and Restraints
Embedded AI computing Platforms are extensively used in a variety of applications including office automation, home applications, security, automobile, banking and financial institutes, healthcare, defense, personal and other sectors. The market for Embedded AI computing platforms is driven by rising adoption of consumer electronics along with increasing adoption of artificial intelligence. Other factors that are impacting the global Embedded AI computing platforms market include rising digitization in industrial automation, healthcare and increasing demand in defense, automobile and other sectors. Globally, the applications of embedded AI computing platforms are rising due to potential growth of emerging economies as well as evolution in Internet of Things (IoT) technology.
Embedded AI Computing Platforms Market: Key Segments
The Embedded AI computing platforms market has been segmented on the basis of component, industry vertical, end user, and region. Based on component, the market is segmented as hardware and software. Hardware segment is further sub segmented into microprocessor, microcontroller, digital signal processors, and others. Industry vertical segmentation includes automotive, retail, healthcare, IT & telecom, energy & utilities, and consumer electronics. Consumer electronics sector is estimated to experience healthy growth due to increasing adoption of smart and advanced technology oriented products, thus driving the market. On the basis of end user, the market is segmented into large enterprises, and small & medium size enterprises (SME’s).
Based on region, the global Embedded AI computing platforms market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. The Embedded AI computing platforms market in North America is expected to expand at a significant growth rate and hold a prominent share of the market during the forecast period, as compared to the market in other regions. The U.S and Canada are projected to drive the Embedded AI computing platforms market in the North America region. One of the major factors responsible for the growth of Embedded AI computing platforms market in this region is the growth in adoption of artificial intelligence technology. Asia Pacific is also expected to grow significantly. Numerous initiatives taken by governments along with rules & regulations are driving the increasing demand for embedded AI computing platforms especially in developing markets such as China, India, Japan, and Malaysia. Leading organizations are focusing more on developing economies such as China, India, Thailand, and Malaysia.
Embedded AI Computing Platforms Market: Key Players
Key players in the global Embedded AI computing platforms market focus on introduction of advanced solutions and services in order to improve their offerings. Some of the major players in the Embedded AI computing platforms market include Atmel Corporation, Intel Corporation, Microsoft Corporation, Fujitsu Limited, ARM Holdings plc. IBM Corporation, Renesas Electronics Corporation, Qualcomm Incorporated, and Texas Instruments Incorporated.