Autonomous & Sensor Technology - North America

The market size in the Autonomous & Sensor Technology market is projected to reach US$7.76bn 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$16.81bn 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 within the Artificial Intelligence Market in North America nan is experiencing considerable growth due to factors such as increased adoption of advanced technologies, growing demand for autonomous systems, and rising awareness about the benefits of AI. This growth is being driven by advancements in sensor technology, which enables the development of more efficient and reliable autonomous systems. Additionally, the convenience and effectiveness of these technologies in various industries such as healthcare, transportation, and manufacturing are also contributing to the market's growth rate.

Customer preferences: As the demand for autonomous and sensor technology continues to rise in the Artificial Intelligence market in North America, there has been a notable shift in consumer preferences towards smart homes and connected devices. This trend is fueled by the increasing adoption of smart home assistants, such as Amazon's Alexa and Google Assistant, which offer convenience and personalized control over household tasks. Additionally, the growing awareness of environmental sustainability has led to an increased demand for energy-efficient smart home solutions, further driving the growth of the Autonomous & Sensor Technology Market within the Artificial Intelligence Market.

Trends in the market: In North America, the Autonomous & Sensor Technology Market within the Artificial Intelligence Market is experiencing a surge in demand for self-driving cars, with major players like Tesla, Google, and Uber investing heavily in this technology. This trend is expected to continue as more consumers embrace the idea of autonomous vehicles and the convenience and safety they offer. This shift towards automation is also driving the growth of sensor technology, providing real-time data for better decision making. These advancements have significant implications for industry stakeholders, such as automobile manufacturers and technology companies, who will need to adapt their strategies to stay competitive in this rapidly evolving market.

Local special circumstances: In North America, the Autonomous & Sensor Technology Market within the Artificial Intelligence Market is driven by the region's advanced technological infrastructure and high adoption rate of AI solutions in various industries. Additionally, the presence of major players in the market, such as Google and Microsoft, has played a significant role in its growth. Furthermore, the strict regulatory framework for data privacy and security has fostered the development of advanced AI-powered sensors and autonomous technology.

Underlying macroeconomic factors: The growth of the Autonomous & Sensor Technology Market within the Artificial Intelligence Market in North America is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in research and development. Countries with strong technological infrastructure, supportive policies, and high investments in AI and sensor technology are experiencing rapid market growth. Moreover, the increasing adoption of AI and sensor technology in various industries, such as healthcare, automotive, and manufacturing, is boosting market demand in the region. Additionally, the growing emphasis on automation and digitalization in the wake of the COVID-19 pandemic is expected to further propel market growth in North America.

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 - North America

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Autonomous & Sensor Technology - North America

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