Autonomous & Sensor Technology - Singapore

The market size in the Autonomous & Sensor Technology market is projected to reach US$124.70m 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$270.00m 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.

For more information on the data displayed, use the info button right next to the boxes.

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 in Singapore nan is experiencing considerable growth due to factors such as increasing adoption of advanced technologies, growing awareness about the benefits of AI in healthcare, and the convenience of online services. This market is expected to continue growing at a significant rate in the coming years.

Customer preferences: The rise of smart homes and smart cities in Singapore has led to a growing demand for autonomous and sensor technology. Consumers are increasingly seeking out AI-powered solutions to enhance their daily lives, from self-driving cars and delivery drones to smart home assistants. This trend is driven by the desire for convenience and efficiency, as well as the growing awareness and acceptance of AI technology in daily living. Additionally, the aging population in Singapore has also contributed to the demand for AI-powered solutions that can assist with daily tasks and provide remote monitoring for health and well-being.

Trends in the market: In Singapore, the Autonomous & Sensor Technology Market within the Artificial Intelligence Market is experiencing a surge in demand for smart city solutions. This is driven by the government's push for sustainable development and efficient resource management. As a result, there is a growing trend towards incorporating AI-powered sensors and autonomous systems in various industries, such as transportation, healthcare, and manufacturing. This trend is expected to continue, with significant implications for industry stakeholders as they strive to stay competitive in a rapidly evolving market.

Local special circumstances: In Singapore, the Autonomous & Sensor Technology Market within the Artificial Intelligence Market is thriving due to the country's strategic location as a regional hub for technology and innovation. With a highly skilled workforce and supportive government policies, the city-state has become a prime location for research and development in this field. Additionally, Singapore's strict regulations on data privacy and security have given rise to a trusted environment for the adoption of AI and sensor technology. The country's diverse population and cultural influences also play a role in shaping the demand for these advanced technologies in various sectors, such as healthcare, transportation, and manufacturing.

Underlying macroeconomic factors: The Autonomous & Sensor Technology Market within the Artificial Intelligence Market in Singapore is heavily influenced by macroeconomic factors such as government initiatives, technological advancements, and investment in research and development. The country's strong economic health, stable fiscal policies, and supportive regulatory environment have created a conducive environment for the growth of this market. Additionally, Singapore's strategic location and well-developed infrastructure make it an ideal hub for the adoption of autonomous and sensor technology, further driving market growth. Furthermore, the rising demand for smart city solutions and the government's focus on promoting digital transformation in various industries are also contributing to the growth of the 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 - Singapore

Value

Market Size

Analyst Opinion

Global Comparison

Methodology

Technology

Access more Market Insights on Technology topics with our featured report

Key Market Indicators

Explore more high-quality data on related topic

Artificial intelligence (AI) worldwide - statistics & facts

Explore more high-quality data on related topic

Artificial intelligence (AI) in the U.S. - statistics & facts

Contact

Get in touch with us. We are happy to help.

Autonomous & Sensor Technology - Singapore

In-Scope

Out-Of-Scope

Artificial Intelligence

Related markets:

Artificial Intelligence: in-depth market analysis

Value

Market Size

Analyst Opinion

Global Comparison

Methodology

Technology

Access more Market Insights on Technology topics with our featured report

Key Market Indicators

Explore more high-quality data on related topic

Artificial intelligence (AI) worldwide - statistics & facts

Explore more high-quality data on related topic

Artificial intelligence (AI) in the U.S. - statistics & facts