Automotive Artificial Intelligence Market Size, Share, Trends and Industry Analysis 2023 - 2027

 

The global automotive artificial intelligence market size is valued at USD 2.3 Billion in 2022 and is anticipated to be USD 7.0 Billion by 2027; growing at a CAGR of 24.1% from 2022 to 2027.

Factors such as rising demand for enhanced user experience and convenience features and the growing adoption of ADAS technology by OEMs are driving the growth of the automotive artificial intelligence industry during the forecast period.

Human-machine interface (HMI) application to hold the largest share of the automotive artificial intelligence market

In a vehicle, HMI allows the driver and the passenger to interact with the vehicle by seamlessly delivering convenience, information, and entertainment. Major components of HMI include electromechanical devices such as keypads, pointing devices, indicators, and alarms.

The infotainment category comprises of features such as speech recognition, eye tracking, monitoring driving, gesture recognition, and a database of natural languages. Advanced HMI solutions are being incorporated by OEMs to deliver a new and unique experience to users and help differentiate their brand image. The intelligent car concept is moving rapidly from the drawing boards to the streets.

It will give users effective vehicle controls such as self-braking, advanced cruise control, and self-parking. These developments will create plenty of opportunities for automotive HMI systems. Advanced HMI systems are also in demand in developed countries where people prefer to travel long distances in their own vehicles. Improved infrastructure can also be a prime reason for this growing trend.

Machine learning holds the second largest share of the automotive artificial intelligence market

Machine learning gives cars the ability to analyze and learn from different driving situations, thus helping to reduce accidents and make cars safer and more efficient. It can create accurate models that can guide future actions and rapidly identify patterns at a scale not previously achievable.

Machine learning has various technologies such as supervised learning, unsupervised learning, deep learning, and reinforcement learning. Machine learning methods are particularly applicable when it comes to powering the system with new insights within the auto industry because the data sets are large, diverse, and change quickly.

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North America is expected to be the major contributor to the automotive AI market

During the forecast period, North America held the largest share of the automotive artificial intelligence market in  2027 and is expected to continue its upward growth trend.

Automotive artificial intelligence is expected to have moderate growth in this region driven by the rapid development of autonomous vehicle technology, and the strict government regulations related to road safety. The region is home to a large number of leading technological firms, which enables the early introduction and high adoption of technologies such as automotive artificial intelligence.

 

Government incentives and funding play a major role in the development of this technology. The automotive industry in the US is highly advanced, with the ‘Big Three’-Ford Motor Company, General Motors, and Fiat-Chrysler Automotive-continuously upgrading their product portfolios. Vehicles in the US are equipped with advanced features such as adaptive cruise control, lane departure, warning systems, voice recognition system, gesture recognition, and blind spot detection.

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Photoelectric Sensor Market Size, Share, Global Growth Drivers, Trends, Forecast - 2025

 

The photoelectric sensor market size is projected to reach USD 2.1 billion by 2025, at a CAGR of 7.8% from 2020 to 2025.

Extensive use of photoelectric sensors in different industries increased the adoption of retroreflective photoelectric sensors in various applications, and surged adoption of industrial robots across several regions are among the factors driving the growth of the photoelectric sensor market.

By type, retroreflective segment held the largest market share.

In 2019, the retroreflective segment held the largest share of the photoelectric sensor market, and this trend is projected to prevail during the forecast period. The growth of the retroreflective segment can be attributed to the rising use of retroreflective photoelectric sensors in industrial manufacturing and pharmaceuticals and medical applications. These sensors have simple wiring and optical axis adjustment controls, which enable their unaffected operations irrespective of the color or angle of the targeted objects. Retroreflective photoelectric sensors are used in pharmaceuticals and medical applications to avoid the empty packaging of tablets.

The 100 to 1,000 mm range is projected to register the highest CAGR from 2020 to 2025

The 100 to 1,000 mm range segment is projected to lead the photoelectric sensor market from 2020 to 2025. The growth of this segment can be attributed to the increased demand for 100 to 1,000 mm photoelectric sensors from various end-use industries. These sensors can carry out long-range and short-range object detection, irrespective of their materials such as glass, metal, plastic, wood, and liquid. The 100 to 1,000 mm range photoelectric sensors are compact and cost-effective.

Built-in amplifier segment held the largest share of the photoelectric sensor market

The built-in amplifier segment held the largest share of the photoelectric sensor market in 2019, and this trend is expected to continue during the forecast period. The built-in amplifier segment is projected to grow at a CAGR of 6.1% from 2020 to 2025. The growth of this segment can be attributed to the extensive use of built-in amplifier photoelectric sensors in ICs and wafer detection applications in the semiconductor manufacturing process. Moreover, these sensors are used for the reliable detection of long-range objects with less effect of curve and gloss on their sensing capabilities. Built-in amplifier photoelectric sensors are used in industrial manufacturing and automotive applications. The fiber type segment of the market is projected to grow at the highest CAGR of 9.4% during the forecast period. The growth of this segment can be attributed to the ability of fiber type photoelectric sensors to detect small differences in the height of objects. The use of fiber type photoelectric sensors is limited to narrow-space applications.

The laser beam source is projected to register a higher CAGR from 2020 to 2025

The laser beam source segment of the market is projected to grow at a CAGR of 10.8% from 2020 to 2025. Laser beam source photoelectric sensors is a new trend in the market. These sensors offer highly precise small laser spots for the detection of small objects. Moreover, laser beam source photoelectric sensors are flexible to mount and have reduced maintenance costs as they eliminate the requirement of reflectors. Hence, laser beam photoelectric sensors are increasingly used in plant management and security and surveillance applications.

 

Digital output segment held a larger share of the photoelectric sensor market

The digital output segment held a larger share of the photoelectric sensor market in 2019 than the analog output segment. This trend is expected to prevail from 2020 to 2025. The key applications of photoelectric sensors are object detection, which has led to their increased adoption globally. Moreover, these sensors offer both design and operational advantages over analog output photoelectric sensors. They offer enhanced technical performance and improved safety margins, as well as have reduced maintenance costs. Hence, the digital output segment of the photoelectric sensor market is projected to grow at a higher CAGR than the analog output segment during the forecast period.

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The food and beverages segment of the market is projected to grow at the highest CAGR during the forecast period

The food and beverages segment of the market is projected to grow at the highest CAGR during the forecast period. The growing focus of the food and beverages industry on technologies and mechanical manipulation of raw foods to create high value-added food products is fueling the demand for photoelectric sensors. Moreover, automation brings standardization in all packaged food items and beverages. It minimizes human interference, thereby eliminating the chances of contamination of food and ensuring that all health standards are met.

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Speaker Driver Market Size Global Forecast, Growth, Opportunities 2025

 

The speaker driver market is projected to USD 29.3 billion by 2025 from USD 27.1 billion in 2022 at a CAGR of 2.5% during the forecast period. It was observed that the growth rate was 0.6% from 2021 to 2022. Balanced Armature Driver segment is expected to grow at a highest CAGR of 3.76%.

Major factors driving the growth of the market include the increasing demand for smartphones owing to the surge in the adoption of audio and video streaming services and the growing popularity of True Wireless earphones. Opportunities for the market include the increase in the sale of smartphones owing to the expansion of the 5G network; and the release of new headphones and earphones as a result of new advancements in wireless technology standards such as the new Wi-fi 6 and Bluetooth 5.2.

The Headphones/Earphones segment is expected to account for the largest size (Value) of the Speaker Driver market from 2020 to 2025.

Owing to the increasing demand for wireless and small-sized earphones among fitness enthusiasts, the supply for earbuds has increased, leading to an increase in the demand for speaker drivers. As consumers are focusing on product aesthetics and add-on features for earphones, along with a compact size, the true wireless earbud category of earphones has been gaining popularity.

Apple (US) has set this trend with the launch of AirPods in 2016. The other players, such as Oppo and Xiamoi, have also started integrating foray into their headphones. Bass boosting technology, active noise cancellation technology, hand-free calling features along wireless technology are increasing the popularity of true wireless earbuds, thereby presenting an opportunity for the manufacturers of drivers to acquire a larger share of the market.

The Others application segment of the Speaker Driver market including banking, travel and tourism, hospitality, and education is projected to grow at the highest CAGR (Volume) during the forecast period.

The hospitality and travel and tourism application have tremendous potential for the growth of smart speakers in the coming years. In the hospitality application, these can be used for room control lighting, playing audio content, learning about weather and travel updates, ordering room service and housekeeping, calling reception, and checking out.

For instance, the InterContinental Hotels Group (IHG) uses a customized version of Baidu’s DuerOS AI solution that includes voice assistant functionality and its smart speakers at its InterContinental Beijing Sanlitun and InterContinental Guangzhou Exhibition Centre properties, that allows guests to ask for basic information, such as the current travel time to the airport, as well as other types of room service like ordering food.

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The 20–110 mm segment holds the largest size (Volume) of the Speaker Driver market in 2020.

Due to the increasing popularity of audio and video features on social networking apps, including TikTok, Dubsmash, and Funimate, which has increased the demand for smartphones, the 20–110 mm segment holds the largest size (Volume) of the market. For instance, in 2019, Instagram launched the trial of a new feature called Reels.

 

Also, as people begin to confine themselves within their homes and work from home, video conferencing has become increasingly common. Several video conferencing software such as Zoom, Cisco Webex Meetings, and Microsoft teams are being utilized increasingly. Thus, the demand for high quality Speaker Drivers in Smartphones is expected to increase.

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Robot Operating System Industry worth $1,082 million by 2028

 The report "Robot Operating System Market by Robot Type (Articulated, SCARA, Cartesian, Collaborative, Autonomous Mobile, Parallel), Application (Pick & Place, Testing & Quality Inspection, Inventory Management), End User and Region - Global Forecast to 2028" The robot operating system market is projected to grow from  USD 581 million in 2023 and is projected to reach USD 1,082 million by 2028; it is expected to grow at a CAGR of 13.2% from 2023 to 2028. Increasing demand for robotics-as-a-service models is one of the major opportunities in the market.

The collaborative robots segment holds the second highest CAGR during the forecast period.

Collaborative robots are the most customized robots compared to others, such as parallel or SCARA robots; they can be modified per the intended application or requirement for modularity, safety, ease of performance, and efficiency. Industries such as automotive, electronics, and pharmaceutical actively integrate collaborative robots into their production processes to enhance efficiency, productivity, and flexibility. As the demand for collaborative robots is increasing, a significant demand for robot operating systems is expected during the forecast period.

Automotive industry to hold the largest market share during the forecast period.

The robot operating system is highly incorporated into robots used in the automotive industry. The implementation of robots can help manufacturers reduce time-to-market, cut product costs, lower energy consumption, and more. As automotive manufacturers look to remain competitive, they expect robotics to continue playing a pivotal role in the automotive industry's evolution.

Europe grew with the second highest CAGR during the forecast period.

Emerging European markets such as the UK and Germany are expected to offer significant opportunities in the robot operating system market. The increasing adoption of IoT and connected devices, growing deployment of automation solutions such as Programmable Logic Controllers (PLC) and Manufacturing Execution Systems (MES) by the automotive industry, and rising adoption of Industry 4.0 are some of the key factors driving the adoption of robot operating system in the region.

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In the  robot operating system market, the key and emerging market players include ABB Ltd. (Switzerland), FANUC (Japan), KUKA AG (Germany), Yaskawa Electric Corporation (Japan), Denso (Japan), Microsoft (US), Omron Corporation (Japan), Universal Robotics (Denmark), Clearpath Robots (Canada), iRobot Corporation (US), Apart from these, Pal Robotics (Spain), Robotnik (Spain), Rethink Robotics (Germany), Stanley Innovation (US), Husarion (Poland), Neobotix (Germany), Shadow Robot (UK), Yamaha Motor (Japan), Estun Automation (China), Shibaura Machine (Japan), Hirata Corporation (Japan), Techman Robot (Taiwan), Franka Emika (Germany), Bosch Rexroth AG (Germany), and  Kawasaki Heavy Industries (Japan)

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MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem.Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research.The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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Camera Modules Market Size, Global Industry Trends Forecast, Opportunities 2023 - 2026

 The global camera modules market size is projected to reach USD 58.5 billion by 2026, growing at a compound annual growth rate (CAGR) of 10.5% during the forecast period.

The growth of digital technology has led to tremendous innovations in the automotive industry, which is propelling the demand for camera module solutions worldwide.

The market for the image sensors segment is expected to grow at the highest CAGR during the forecast period.

The key factors contributing to the growth of the image sensor segment are the rising demand for small HD camcorders and smartphones, advancements in digital technology, coupled with rising concerns about security and surveillance among consumers Key players in the camera modules market are also adopting organic growth strategies to strengthen their camera modules product portfolio.

The market for the above 13 MP segment is expected to grow at the highest CAGR during the forecast period.

The above 13 MP is expected to grow at the highest CAGR during the forecast period. The rising need for better image quality from end users drives the growth of the camera modules market for cameras with higher megapixels.

Further, the increasing shift to high-resolution camera modules, especially in machine vision systems is driven by improved technology and the price decline of these camera components and modules has fostered the growth of the market.

The fixed focus segment of the camera modules market is projected to record the highest CAGR during the forecast period.

The fixed focus segment of the camera modules market is projected to record the highest CAGR during the forecast period owing to the earlier trends of cameras in smartphones showing the use of mainly fixed focus camera modules; as they were a less expensive option and did not require the use of electronics, moving parts, and electricity.

The automotive and security and surveillance sectors are largely expected to adopt fixed-focus camera modules. The adoption is likely to continue in night vision applications and medical microscopes.

The market for the camera modules with serial interfaces segment is expected to grow at the highest CAGR during the forecast period.

The camera modules with serial interfaces is expected to grow at the highest CAGR during the forecast period. In mobile applications, an application processor uses a camera serial interface (CSI) to provide low-power and low-cost interfaces to cameras.

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A few of its benefits are widespread adoption for its ease of use and the ability to support a broad range of high-performance applications, including 1080 p, 4 K, 8 K and beyond video, and high-resolution photography.

The consumer electronics industry end user held the largest share of the camera modules market, and this trend is expected to continue during the forecast period.

The consumer electronics industry held the largest size of the camera modules market in 2020 and a similar trend is likely to be observed during the forecast period.

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MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem.Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research.The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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Optical Sorter Market Size & Share | Industry Report 2023-2027 | MarketsandMarkets

 The optical sorter market is projected to grow USD 2.6 billion in 2022 to USD 4.1 billion by 2027; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 9.9% from 2022 to 2027. The market has a promising growth potential due to several driving factors including, growing focus on automation to increase productivity in various industries, increasing adoption in the food industry for food processing activities and for reducing process and delivery time; increase in wages of the manual workforce in various countries; and stringent government regulations regarding food safety. All these factors plays a key role in driving the growth of the optical sorter industry.

The camera type optical sorters to dominate the market during the forecast period

Camera type optical sorters are expected to dominate the optical sorter market throughout the forecast period. It is further expected to grow at a significant rate during the forecast period. Camera-based optical sorters are more accurate and can detect minute defects in products; therefore, these optical sorters are preferred in various applications such as food and recycling. The camera sorting machines are the most ideal and cost-effective optical food sorting machines in the quick-frozen vegetable and fruit processing industry. The TOMRA’s (Norway) Blizzard, a free fall optical sorting machine is an example of a camera-based optical sorting machine with pulsed LED technology that is used for sorting frozen vegetables and fruits. Further, the RGB full-color series cameras are ideal for multi-color applications or minor shade variations. As a result, camera-based sorters are an ideal platform and series of sorters for detecting and sorting/separating by subtle shade and color differences, speck defects, foreign material, insect damage, mold, decaying product, and so on.

The market for hyperspectral cameras & combined sorters to grow at fastest CAGR during the forecast period

The market for hyperspectral cameras & combined sorters is expected to grow at the highest CAGR during the forecast period and account for the second-largest share of optical sorter market during 2022-2027. This technology increases FM (foreign material) and/or EVM (extraneous vegetable matter) removal, often achieving efficiency with very low false reject rates. The hyperspectral cameras are used to identify the unique fingerprint of the material. Hyperspectral imaging (HSI) has been used in a variety of applications and industries, including the detection of rock minerals from airborne images and the detection of foreign materials in food processing. For quality inspection, hyperspectral imaging is gradually becoming a viable alternative or supplement to X-rays, RGB cameras, and 3D models. Combined sorters, on the other hand, combine a variety of sorting technologies to achieve optimal sorting quality. TOMRA 3C freefall optical sorter by TOMRA (Norway), for example, employs a high-resolution camera and dual laser units.

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The camera type segment is expected to dominate the optical sorter market from 2022 to 2027

The camera type segment is further expected to dominate the optical sorter market for hybrid platform throughout the forecast period and grow at a significant rate between 2022 and 2027. The 360º vision cameras allow for an easy and effective inspection of every part of the subject under consideration. Furthermore, infrared cameras provide the most effective identification of colors in food application, while the latest smart digital color cameras provide exceptional defect identification accuracy. This is the main reason for the domination of food application in the optical sorter market for hybrid platform throughout the forecast period. The cameras are capable of accurately classifying the various qualities of each fruit, ensuring a precise division of the various quality characteristics of every type and variety of fruit.

 

Optical sorter market in North America is expected to maintain the highest share during 2022–2027

North America is expected to hold the largest share of the optical sorter market throughout the forecast period. North America is the leading regions in the optical sorter market owing to the increasing popularity of the optical sorting machines in the food industry.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem.Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research.The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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Outdoor Power Equipment Market Opportunities and Industry Trends 2026

 The global outdoor power equipment market in terms of revenue was estimated to be worth USD 26.4 billion in 2021 and is poised to reach USD 35.8 billion by 2026, growing at a CAGR of 6.3% from 2021 to 2026. The new research study consists of an industry trend analysis of the market.

Lawn Mowers were the most extensively used outdoor power equipment in the market.

The lawn mowers segment is projected to account for the largest size of the outdoor power equipment market from 2021 to 2026.

The growing demand for lawn mowers can be attributed to the increasing affinity of residential users for lawn and garden care activities and the increasing demand for landscaping services. Other major end users of lawn mowers include municipalities and landscaping service providers Furthermore, the growing affinity for turf sports such as Golf is fueling the demand for lawn mowers.

Residential/DIY application held larger share of the market

The residential/DIY application segment is projected to account for the larger size of the market from 2021 to 2026.

Residential end users can be homeowners and do-it-yourself (DIY) enthusiasts. There is an already established and flourishing culture of lawn and garden care across North America and Europe, which is further increasing across other regions as well. Increasing inclination of residential end users for undertaking gardening and home refurbishment activities for improving aesthetics is a major factor contributing to the increasing adoption of outdoor power equipment.

Fuel-powered equipment held larger share of the outdoor power equipment market

The fuel powered segment is projected to account for the larger size of the market from 2021 to 2026. Fuel-powered equipment can work on gas, diesel, or petrol and deliver better power and torque, owing to which they are being increasingly adopted by professional arborists and loggers for deforestation and wood clearing activities. Many companies are investing significantly in R&D for improving technical aspects of fuel-powered equipment, which has successfully reduced noise and exhaust fumes, and improved operator comfort.

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Asia Pacific is expected to register highest growth in the market during forecast period

The market in APAC is projected to register the highest growth rate from 2021 to 2026. The market in APAC can be further segmented into China, Japan, India, South Korea, and Rest of APAC.

As opposed to North America, where there is an established garden care culture, the affinity for gardening activities in APAC is slowly increasing. However, due to increasing urbanization leading to increasing consumer disposable income, there is a growing demand for consumer durables such as outdoor power equipment. Government across countries in APAC are curating and investing in several infrastructural projects to cater to the growing population and promote sustainable landscaping and green infrastructure.

 

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem.Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research.The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.