Autonomous & Sensor Technology - G7

The market size in the Autonomous & Sensor Technology market is projected to reach US$11.70bn 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$25.33bn 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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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.

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.

The Autonomous & Sensor Technology Market in the Artificial Intelligence Market of G7 nan is rapidly growing, driven by factors such as increasing adoption of advanced technologies, growing awareness about health, and the convenience of online services. The market's considerable growth rate is influenced by the demand for innovative solutions in various industries and the integration of AI with autonomous and sensor technologies.

Customer preferences: With the rise of smart homes and connected devices, consumers are increasingly looking for autonomous and sensor technology to enhance their daily lives. This includes voice assistants, smart appliances, and self-driving cars. This trend is driven by the desire for convenience, efficiency, and a futuristic lifestyle. Additionally, the growing aging population and urbanization are contributing to the demand for autonomous and sensor technology in various industries such as healthcare and transportation.

Trends in the market: In the G7 countries, the Autonomous & Sensor Technology Market within the Artificial Intelligence Market is seeing a surge in demand for advanced sensors and autonomous systems in various industries such as manufacturing, transportation, and agriculture. This trend is expected to continue as companies strive to improve efficiency and reduce costs through automation. Additionally, with the increasing adoption of AI-powered autonomous vehicles, there is a growing need for sensors that can accurately detect and respond to their surroundings. This presents opportunities for stakeholders in the industry, including sensor manufacturers and AI developers, to innovate and collaborate in order to meet the rising demand. However, this trend also raises concerns regarding job displacement and ethical considerations in the use of AI-powered systems. As such, it is crucial for industry stakeholders to continue monitoring and addressing these implications as the Autonomous & Sensor Technology Market within the Artificial Intelligence Market continues to evolve.

Local special circumstances: In Japan, the Autonomous & Sensor Technology Market within the Artificial Intelligence Market is heavily influenced by the country's aging population and the need for advanced technology in healthcare. The government has implemented initiatives to support the development and adoption of AI in healthcare, leading to the rise of telemedicine and remote patient monitoring. Additionally, the country's strict regulatory framework for data privacy has shaped the market, with a focus on secure and ethical use of AI in healthcare.

Underlying macroeconomic factors: The growth of the Autonomous & Sensor Technology Market within the Artificial Intelligence Market is influenced by various macroeconomic factors. These include technological advancements, government policies, and the overall economic health of the country. Countries with supportive regulatory environments and strong investment in autonomous and sensor technologies are experiencing faster market growth. Additionally, the increasing adoption of AI-powered solutions and the rise in demand for automation in industries such as manufacturing and transportation are driving the growth of this market. Furthermore, the growing need for efficient and cost-effective solutions, along with the increasing use of AI in decision-making processes, are also contributing to the expansion of the Autonomous & Sensor Technology Market.

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.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

Artificial intelligence evokes images of supercomputer assistants, machines that can think creatively, and, to some, scenes from their favorite sci-fi movie. The reality, despite not being as futuristic, is not far off from this. AI refers to the ability of a computer or machine to mimic the competencies of the human mind, which often learns from previous experiences to understand and respond to language, decisions, and problems. The market for AI technologies is vast, amounting to around 200 billion U.S. dollars in 2023 and is expected to grow well beyond that to over 1.8 trillion U.S. dollars by 2030.

Artificial intelligence (AI), the technology that allows digital computers or computer-controlled robots to perform tasks more commonly associated with intelligent beings, has been leaping into the limelight following the release of a wide variety of Generative AI models in 2023. The United States, being the largest economy in the world, has a natural advantage. Although human-like androids such as those portrayed in the science fiction movie Blade Runner are still far from reality, applications of AI such as smartphone virtual assistants and industrial robots are already widespread in U.S. society. The industry’s powerful ability to improve efficiency and increase productivity has made it of strategic importance to U.S. industries and government, both of which push the U.S. lead in the AI race.

Autonomous & Sensor Technology - G7

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