Edge AI hardware Market Analysis
The edge AI
hardware market registered a shipment of 532.4 million units in 2022 and is
expected to reach 41.1 Billion units by the end of forecast period at a CAGR of
18.20%., according to the new Market Research Future (MRFR) analysis. Edge AI
is an algorithm that can process the data locally on the hardware device. Edge
AI devices have wide applications in construction, aerospace and defense,
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.
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Edge AI hardware Market Regional Analysis
By region, the global edge AI hardware market covers the growth
opportunity and recent trends across Europe, North America, the Asia Pacific
(APAC), and the Rest of the World (RoW). Of these, North America will spearhead
the market over the forecast period. The rapid adoption in Canada and the US,
AI being applied on smart home applications and consumer electronics, growing
dependency on the internet of things devices, need for faster device
processing, need for high latency owing to network congestion, increasing
government funding, strong technical base, increasing use of surveillance
cameras and drones that use vision processing unit, and the presence of key
industry players are adding to the global edge AI hardware market growth in the
region.
The edge AI hardware market in the APAC region is predicted to have
healthy growth over the forecast period. The presence of the largest exporters
and manufacturers such as Taiwan, South Korea, and China, a hub of several
manufacturing companies, and the strong presence of semiconductor, electronics,
and automobile companies are adding to the global edge AI hardware market
growth in the region.
In Europe, the edge AI hardware market is predicted to have sound growth
over the forecast period and that in the Rest of the World is predicted to have
steady growth over the forecast period.
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Edge AI hardware Market Key Players
Key contenders profiled in the global edge AI hardware market report
include Cambricon Technologies (China), Imagination Technologies Limited (UK),
Huawei Technologies Co., Ltd. (China), Microsoft Corporation (US), Xilinx Inc.
(US), MediaTek Inc. (Taiwan), Qualcomm (US), NVIDIA Corporation (US), Google
Inc. (US), Samsung Electronics Co., Ltd. (South Korea), and Intel Corporation
(US).
Edge AI hardware Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global
edge AI hardware market based on component, device, power consumption, process,
and vertical.
By component, the global edge AI hardware market is segmented into ASIC,
GPU, CPU, and others. Of these, the CPU segment will lead the market over the
forecast period as this is the core processor for all edge AI hardware. The
ASIC component segment, on the other hand, will grow at the highest CAGR.
By device, the global edge AI hardware market is segmented into smart
mirror, wearables, smart speaker, automobile, robot, camera, and smartphone. Of
these, the smartphone device segment will dominate the market over the forecast
period for its early adoption of processors or AI chip and development of
technological advances in voice recognition, real-time speech, and image recognition.
The camera segment, on the other hand, will grow at a notable CAGR.
By power consumption, the global edge AI hardware market is segmented
into more than 10W, 5-10 W, 3-5 W, 1-3 W, and 1 W.
By process, the global edge AI hardware market is segmented into
inference and training.
By vertical, the global edge AI hardware market is segmented into
construction, aerospace and defense, healthcare, government, automotive and
transportation, smart home, consumer electronics, and others. Of these, the
consumer electronics segment will spearhead the market over the forecast
period. The smart home segment, on the other hand, will grow at a significant
CAGR owing to the wide application of edge AI hardware in different smart home
applications like smart locks, smart thermostats, and smart
lighting.
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