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Autonomous & Sensor Technology - EMEA

EMEA
  • The market size in the Autonomous & Sensor Technology market is projected to reach US$7.56bn in 2024.
  • The market size is expected to show an annual growth rate (CAGR 2024-2030) of 13.75%, resulting in a market volume of US$16.37bn by 2030.
  • In global comparison, the largest market size will be United States (US$6.80bn in 2024).

Definition:
Autonomous and sensor technology refers to the combination of advanced systems and devices that enable machines and vehicles to operate and make decisions independently and without human intervention. Autonomous technology encompasses the areas of perception, decision-making, and control systems that make it possible for machines to autonomously navigate, interact, and respond to their surroundings. Sensors, on the other hand, are devices that detect and measure physical or environmental variables such as temperature, pressure, motion, and light; these variables provide crucial data inputs for autonomous systems to perceive and understand their environments. By leveraging sensor data and autonomous capabilities, these technologies enable applications such as self-driving cars, industrial automation, robotics, and smart infrastructure.

Additional Information:

The market comprises two key performance indicators: market sizes and market sizes by industry. Market sizes are generated by the funding amount of Autonomous and Sensor Technology companies. Key players of the market include companies such as Nvidia, Waymo, and Velodyne Lidar.

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In-Scope

  • Technologies that enable machines and devices to function autonomously, such as autonomous vehicles, drones, and robotics
  • Sensors and related hardware that gather data from the environment, such as LiDAR, radar, and cameras.

Out-Of-Scope

  • Technologies that do not involve autonomous or sensor-based functionality, such as traditional software applications or physical goods
  • Products and services that do not use autonomous or sensor-based technology, such as consumer electronics and home appliances.
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    Market Size

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Jul 2024

    Source: Statista Market Insights

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Jul 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Autonomous & Sensor Technology Market in the EMEA nan is experiencing considerable growth, fueled by the increasing integration of artificial intelligence, growing demand for autonomous solutions, and advancements in sensor technology. This growth is further driven by the convenience and efficiency of these technologies in various industries, including healthcare, transportation, and manufacturing.

    Customer preferences:     As the adoption of autonomous and sensor technology continues to grow in EMEA, so does the demand for customized and personalized solutions. Consumers are gravitating towards AI-powered devices and systems that can seamlessly integrate into their daily lives and cater to their specific needs and preferences. This trend is driven by the desire for a more efficient and convenient lifestyle, as well as the increasing awareness and acceptance of AI technology.

    Trends in the market:     In the EMEA region, the Autonomous & Sensor Technology Market within the Artificial Intelligence Market is experiencing a surge in demand for AI-powered autonomous vehicles. This trend is driven by the increasing focus on reducing carbon emissions and improving transportation efficiency. Additionally, the use of sensors in various industries, such as manufacturing and healthcare, is also on the rise. These developments have significant implications for industry stakeholders, as they present opportunities for growth and innovation. However, they also raise concerns around data privacy and security, as well as the need for regulations to ensure safe and ethical use of AI technology.

    Local special circumstances:     In the EMEA region, the Autonomous & Sensor Technology Market within the Artificial Intelligence Market is driven by the growing adoption of smart city initiatives and increasing investments in autonomous vehicles. In Europe, strict regulations and privacy concerns have slowed down the market growth, while in the Middle East, the market is driven by the high oil revenues and efforts to diversify the economy. In Africa, the market is influenced by the lack of infrastructure and the need for innovative solutions to address healthcare and transportation challenges.

    Underlying macroeconomic factors:     The growth of the Autonomous & Sensor Technology Market within the Artificial Intelligence Market in EMEA is influenced by macroeconomic factors such as technological advancements, government support, and investment in research and development. Countries with favorable regulatory environments and strong investment in AI technologies are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Additionally, the increasing adoption of AI in various industries, such as healthcare, manufacturing, and automotive, is driving the demand for autonomous and sensor technology solutions to improve efficiency and productivity.

    Global Comparison

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Jul 2024

    Source: Statista Market Insights

    Methodology

    Data coverage: The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the funding values from different industries for the market.

    Modeling approach / Market size:Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market. As a basis for evaluating markets, we use annual financial reports, funding data, and third-party data. In addition, we use relevant key market indicators and data from country-specific associations such as GDP, number of internet users, number of secure internet servers, and internet penetration. This data helps us estimate the market size for each country individually.

    Forecasts:In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are the level of digitalization, the number of secure internet servers, and the revenue of the Public Cloud market.

    Additional Notes: The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russian-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the market is updated on an ad-hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Data from the Statista Consumer Insights Global survey is weighted for representativeness.

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    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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