The edge AI hardware market is projected to grow from 920 million units in 2021 to 2,080 million units by 2026; it is expected to grow at a CAGR of 17.7% from 2021 to 2026. The key factors contributing to the growth of the market include growth in demand for low latency and real-time processing on edge devices, emergence of AI coprocessors for edge computing, reduction in data storage and operations cost, Increase in enterprise workloads on the cloud and rapid growth in the number of intelligent applications.
The edge AI hardware market has witnessed significant growth. The growth of this market is mainly driven by the growing demand for low latency and real-time processing on edge devices, the emergence of AI coprocessors for edge computing, reduction in data storage and operation costs and increasing enterprise workloads on the cloud.
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The edge AI hardware market in APAC is estimated to grow at the highest CAGR during the forecast period. The presence of a large number of manufacturing companies, along with the strong presence of automobile and electronics and semiconductor companies, in China and Japan drives the growth of the edge AI hardware market in APAC.
The consumer electronics segment holds a major share in terms of volume. This is due to the rising consumer spending and demand for consumer electronics. The demand for smartphones, smart wearables, and other devices is witnessing strong growth. Moreover, the innovation and development of new use cases for edge AI could lead to the high growth of consumer electronics in the edge AI hardware market.
In terms of volume, smartphones accounted for the largest share of nearly 75% of the edge AI hardware market for devices in 2020. The increasing demand for smartphones could drive the growth of the edge AI hardware market during the forecast period. Edge AI offers added capabilities to smartphones in terms of imaging and photography, power efficiency, and security.
Several opportunities such as Dedicated AI processors for on-device image analytics, Growth in demand for edge computing in IoT, Emergence of the 5G network to bring IT and telecom together lies in front of the players in the edge AI hardware market.
Market Research Future has come up with the latest report on the “Global Edge AI Hardware Market 2020”.
The survey covered the impact of COVID-19 on everything, including the economy.
On this, MRFR reveals that the global market earlier achieved a valuation of USD 532.4 Million in 2018 and would now scale up to USD 1,681.8 Million by 2024 at a CAGR of 21.72% during the forecast period.Growth in Artificial Intelligence (AI) has created huge opportunities for semiconductor companies.
AI hardware is the core enabler for various solutions such as facial recognition and virtual assistant managing homes.SegmentationBy component, the market is segmented into CPU, GPU, ASIC, and others.
The smartphones segment had the largest revenue share in the Edge AI hardware market in 2018 and is expected to continue its dominance throughout the forecast period.By power consumption, the edge AI hardware market is segmented into less than 1 W, 1–3 W, 3–5 W, 5–10 W, and more than 10 W. By process, the edge AI hardware market is divided into training and inference.By vertical, the market is segmented into consumer electronics, smart home, automotive & transportation, government, healthcare, aerospace & defense, construction, and others.Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/7836Key playersIntel Corporation (US), Samsung Electronics Co., Ltd. (South Korea), Google Inc. (US), NVIDIA Corporation (US), Qualcomm (US), MediaTek Inc. (Taiwan), Xilinx Inc. (US), and Microsoft Corporation (US).
The other prominent companies in the edge AI hardware market include Huawei Technologies Co., Ltd. (China), Imagination Technologies Limited (UK), and Cambricon Technologies (China) among others.Regional AnalysisThe global market for edge AI hardware is estimated to grow at a significant rate during the forecast period from 2019 to 2024.
Market Analysis The Edge AI Hardware Market size will touch USD 1,681.8 million at a healthy 21.72% CAGR between the forecast period 2020- 2027, according to the new Market Research Future (MRFR) analysis.
Edge AI devices have wide applications in construction, aerospace and defence, healthcare, government, automotive and transportation, smart home, consumer electronics, and others.Various factors are fuelling the global edge AI hardware market share.
According to the recent MRFR market estimates, such factors include the growing demand for real-time processing on edge devices, growing demand for low latency, the emergence of AI coprocessors for edge computing, dedicated AI processors for on-device image analytics, growing demand for edge computing in IoT, increasing industrial applications, use in deep learning models, and increasing demand for advanced healthcare equipment and self-driving cars.
On the contrary, size constraint and power consumption, the limited number of artificial intelligence and machine learning experts, scarcity of on-device training, and the on-going COVID-19 impact are factors that may deter the global edge AI hardware market growth in the region.
Request a Free Sample @ https://www.marketresearchfuture.com/sample_request/7836Market SegmentationThe MRFR report highlights an inclusive segmental analysis of the global edge AI hardware market based on component, device, power consumption, process, and vertical.
Of these, the CPU segment will lead the market over the forecast period as this is the core processor for all edge AI hardware.
Edge AI Hardware Market 2021-2027New Study Reports " The Global Edge AI hardware Market Industrial Analysis, Market Dynamics, Growth Analysis, Regional Analysis, Size, Share, and Forecast 2021- 2027" has been Added on MarketResearchFuture.Market OverviewThe study of market analysis of the global Edge AI hardware market focuses on the key elements and the market dynamics of a specific market within that particular industry.
The survey report analyses the elements, such as the strengths, weaknesses, opportunities, and threats of every individual manufacturing company.
The documentation is prepared by investigating the company’s activities related to their planning, decision making, purchase, capital investment, innovation, workforce, business expansion strategy, facility expansion, promotional activities, and many other aspects of a company.Market Dynamics of The Global Edge AI hardware MarketThe rising awareness among the global population for the product benefit tends to increase the production of a product of the global Edge AI hardware market in a positive way.
Edge AI processing involves low latency which is an advantage and hence is contributing to growth of the market.
Edge AI processing helps reducing the data travelling time so that companies can analyze data on real-time basis.
The other prominent companies in the edge AI hardware market include Huawei Technologies Co., Ltd. (China), Imagination Technologies Limited (UK), and Cambricon Technologies (China) among others and more.This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Edge AI Hardware.Complete Report Details@ https://www.marketresearchfuture.com/reports/edge-ai-hardware-market-7836SegmentationBy component, the market is segmented into CPU, GPU, ASIC, and others.
