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Bioacoustics Sensing Market Recent Trends Shaping the Industry for Bright Future!!!
Bioacoustics Sensing
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Major factors driving growth of the bioacoustics sensing market include growing awareness and worldwide acceptance of artificial intelligence. Report of the U.S. (GAO) Government Accountability Office estimated that, revenue from AI is projected to account for US$ 25 billion to over US$ 40 billion by 2025, from US$ 5 billion in 2017. Artificial intelligence is majorly used in wearable and connected devices, which are products used in bioacoustics sensing technology.
Major applications of bioacoustics sensing devices in the healthcare sector include primary stage detection of diseases such as cancer. It is also used in skin put technology, which uses the surface of the skin as an input device, it makes the human body suitable for acoustic transmission. It permits users to use their own arms and hands as touch screens by sensing different vibrations that are generated when knocking various parts of skin.
North America holds the largest share of the global bioacoustics sensing market, owing to high adoption of advanced technologies and artificial intelligence in countries such as the U.S. and Canada. According to report by weforum (World Economic Forum), global income from AI is expected to grow to over US$ 47 billion in 2020, from around US$ 8 billion in 2016. Europe is considered as the second-largest market after North America due to growing adoption of wearable technology and advanced technologies such as bioacoustics sensing in the region.
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Major players operating in the global bioacoustics sensing market include Matsushita Electric Industrial, Panasonic Corporation, Honeywell, Pacesetter, Samsung Electronics, Medacoustics, Remon Medical Technologies, Avisoft Bioacoustics, MSI Transducers Corporation, Materials Systems Inc., AT&T, and IBM.
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