Rising at 20.2% CAGR, Edge AI Hardware Market Size to Exceed 2160 Million Units by 2026: Facts & Factors
New York, NY, March 11, 2021 (GLOBE NEWSWIRE) — Facts and Factors have published a new research report titled “Edge AI Hardware Market by Device (Smartphones, Cameras, Robots, Automobile, Smart Speakers, Wearable, and Smart Mirror) by Processor (CPU, GPU, ASIC, others) by Power Consumption (Less Than 1 W, 1–3 W, 3–5 W, 5–10 W, and More Than 10 W) by Process (Training, and Interface), and Application (Consumer Electronics, Smart Home, Automotive & Transportation, Government, Healthcare, Industrial, Aerospace & Defense, Construction, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” .
“According to the research report, the global Edge AI Hardware Market was estimated at 594 Million Units in 2019 and is expected to reach 2160 Million Units by 2026. The global Edge AI Hardware Market is expected to grow at a compound annual growth rate (CAGR) of 20.2% from 2019 to 2026”.
Edge is where the data exist and is collected. It enables us to connect in real-time with the customers anywhere. Edge AI is referred to as AI algorithms that are processed on hardware devices locally. For instance, the iPhone has the facility to recognize and register the user’s face to unlock the phone in a fraction of time. In addition, Edge AI offers better solutions to prevalent problems such as latency. The real-time insights and low latency enable in development of better customer experiences.
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Key Questions Answered in this Report
1) What was the impact of COVID-19 on the Edge AI Hardware Market?
2) What is the market size, share of the Edge AI Hardware Market?
3) Who are the top market players in Edge AI Hardware Market?
4) What will be the future market of the Edge AI Hardware Market?
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, by types, end-user, applications, segments, and geography
- Competitive Landscape – Top key vendors and other prominent vendors
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The global edge AI market is primarily driven by increasing demand for real-time processing and low latency on edge devices along with the availability of power-efficient chipsets in the global market. In addition, a reduction in operation cost and data storage is also expected to boost the market in the near future. On a contrary, increasing security concerns related to personal data is expected to hinder the growth of the market. Nonetheless, the rising demand for edge computing in IoT is estimated to open new alluring opportunities in the market over the projected period.
Industry Major Market Players
- Intel Corporation
- NVIDIA Corporation
- Samsung Electronics Co. Ltd
- Huawei Technologies Co. Ltd.
- Google Inc.
- MediaTek Inc.
- Xilinx Inc.
- Imagination Technologies Limited
- Microsoft Corporation
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The global edge AI market is segmented on the basis of device, processor, end-user, and region. On the basis of the device, the market is segmented into smartphones, cameras, robots, automobiles, smart speakers, wearable, and smart mirrors. The camera is expected to grow at a higher CAGR over the projected period, owing to its central part of several smart devices with smart functions, Wi-Fi support, high speed, and increased performance over the years. However, standalone smart devices cameras that comprise VPU (vision processing units) which enable offering power-efficient solutions for artificial intelligence are also developing their existence in the market. On the basis of the processor, the market is bifurcated into CPU, GPU, ASIC, and others. The power consumption of edge AI hardware devices is less Than 1 W, 1–3 W, 3–5 W, 5–10 W, and more than 10 W. By process, the market is divided into training and interface. Consumer electronics, automotive & transportation smart homes, government, healthcare, industrial, aerospace &defense, construction, and others are the end-users for the market.
The report study further includes an in-depth analysis of industry players’ market shares and provides an overview of leading players’ market position in the Edge AI Hardware sector. Key strategic developments in the Edge AI Hardware market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the Edge AI Hardware market are appropriately highlighted in the report.
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Increasing adoption of edge AI hardware devices such as smart cameras by governmental bodies in order to control criminal activities and natural calamities are expected to drive the growth of the global edge AI hardware market in the coming years. In addition, the development of reliable cloud computing infrastructure and advancements in artificial intelligence solutions is also expected to drive the growth of the market. On a contrary, the lack of a trained and skilled workforce in context is estimated to hamper the growth of the market in the near future. Nonetheless, the growing demand for the development of human-aware AI systems is expected to open new opportunities in the global edge AI hardware market.
The Edge AI Hardware market research report delivers an acutevaluationand taxonomy of the Edge AI Hardware industry by practically splitting the market on the basis of different devices, processors, power consumption, process, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026.
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On the basis of the device, the global edge AI hardware market is divided into smartphones, cameras, robots, automobiles, smart speakers, wearable, and smart mirrors. By processor, the market is segmented into CPU, GPU, ASIC, and others. On the basis of power consumption, the market is segregated into less than 1 W, 1–3 W, 3–5 W, 5–10 W, and more than 10 W. By process, the market is classified into training and interface. Consumer electronics smart home, automotive & transportation, government, healthcare, industrial, aerospace & defense, construction, and others are the end-users for the market.
North America held the largest market share in 2018, owing to the strong presence of IT giants such as Microsoft, IBM, Google, and AWS which contributes to offering AI platforms to various industries in the region. In addition, the rising number of and growing dependency on IoT devices also expected to fuel the growth of the market in this region. Europe is estimated to witness significant growth in the market over the expected period, owing to a growing number of IT start-ups that offer AI platforms in the region. Asia Pacific is expected to be the fastest-growing region over the estimated time, due to the increasing adoption of artificial intelligence solutions and IT infrastructure by the small and medium-sized enterprises in the region.
Browse the full “Edge AI Hardware Market by Device (Smartphones, Cameras, Robots, Automobile, Smart Speakers, Wearable, and Smart Mirror) by Processor (CPU, GPU, ASIC, others) by Power Consumption (Less Than 1 W, 1–3 W, 3–5 W, 5–10 W, and More Than 10 W) by Process (Training, and Interface), and Application (Consumer Electronics, Smart Home, Automotive & Transportation, Government, Healthcare, Industrial, Aerospace & Defense, Construction, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” report at https://www.fnfresearch.com/edge-ai-hardware-market-by-device-smartphones-cameras-642
Key Insights from Primary Research
- As per our primary analysis, the Edge AI hardware market is set to grow in upcoming years owing to the emergence of AI coprocessors for Edge computing.
- It was established through primary research that CPU holds the largest share of the Edge AI hardware market for processors.
- Smartphones dominate the Edge AI hardware market during the forecast period.
- AI-based surveillance to drive Edge AI hardware market in China
This report segments the Edge AI Hardware market as follows:
Global Edge AI Hardware Market: By Device Segmentation Analysis
- Smart Speakers
- Smart Mirror
Global Edge AI Hardware Market: By Processor Segmentation Analysis
Global Edge AI Hardware Market: By Power Consumption Segmentation Analysis
- Less Than 1 W
- 1–3 W, 3–5 W
- 5–10 W
- More Than 10 W
Global Edge AI Hardware Market: By Process Segmentation Analysis
Global Edge AI Hardware Market: By Applications Segmentation Analysis
- Consumer Electronics
- Smart Home
- Automotive & Transportation
- Aerospace & Defence
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IoT in Defense Market: https://www.fnfresearch.com/iot-in-defense-market-by-component-hardware-services-134
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