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. Edge AI processing involves low latency which is an advantage and hence is contributing to growth of the market. Edge AI processing helps reduce data travelling time so that companies can analyze data on real-time basis. AI hardware is the core enabler for various solutions such as facial recognition and virtual assistant managing homes.
- By component, the market is segmented into CPU, GPU, ASIC, and others. CPU is expected to dominate the Edge AI hardware market during the forecast period as it is the core processor for any edge AI hardware. ASIC segment is expected to grow at the highest CAGR during the forecast period.
- By device, the market is segmented into smartphone, camera, robot, automobile, smart speaker, wearables, and smart mirror. 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.
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Intel 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). These players contribute a major share in the growth of edge AI hardware market. 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.
The global market for edge AI hardware is estimated to grow at a significant rate during the forecast period from 2019 to 2024. The geographic analysis of edge AI hardware market has been conducted for North America, Europe, Asia-Pacific, and the rest of the world.
North America dominated the market in 2018 and is expected to dominate the edge AI hardware market throughout the forecast period. AI is largely being applied on consumer electronics and smart home applications. Furthermore, growth of smart city projects has led to the rapid adoption of this technology in the US and Canada. The market in Asia-Pacific is expected to register the highest CAGR during the forecast period. Countries such as China, South Korea, and Taiwan are some of the largest manufacturers and exporters of semiconductor content which is creating immense opportunities for the growth of edge AI hardware market.
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Major Highlights of TOC Covers:
- Executive Summary
- Key Business Trends
- Regional Trends and Growth
- Product Trends
- End-use Trends
- Definition and Forecast Parameters
- Edge AI hardware Market Segmentation
- Edge AI hardware Market Landscape
- Vendor Matrix
- Company Profiles
- Business Overview
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