Global Edge AI Hardware Market 2023-2032: Rise in Investments in AI Startups & Increase in Demand for Smart Homes & Smart Cities Creates Opportunities

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Jul 25, 2023, 10:30 ET

DUBLIN, July 25, 2023 /PRNewswire/ -- The "Edge AI Hardware Market Share, Size, Trends, Industry Analysis Report, By Device, By Processor, By Function, By Vertical, By Region, Segment Forecast, 2023-2032" report has been added to ResearchAndMarkets.com's offering.

The global edge AI hardware market size is expected to reach USD 7,977.31 million by 2032.

The significant growth of the global market can be attributed to several factors, including the increasing demand for AI-enabled products and services, the high growth of edge computing in the IoT sector, the prevalence of self-driving cars, and the introduction of real-time decision-making machines.

Additionally, the market is expected to experience further growth due to the growing use of edge AI hardware for robust analytics, the trend of compressing large AI models into smaller hardware forms, and the substantial increase in government funding. Developed countries like the United States and Germany, with their strong technical base presence, are likely to contribute significantly to this growth.

An example of this growth can be seen in the recent unveiling of Perceive AI's new Edge AI Chip named Ergo2 in January 2023. This chip offers low power consumption, affordability, and high performance. It is four times faster than Perceive's first-generation Ergo chip and can handle much larger models, including NLP.

Furthermore, as the Internet of Things (IoT) and mobile computing applications continue to expand, a vast number of IoT and mobile devices are connected to the Internet, generating massive amounts of data at the network edge. This abundance of data in cloud data centers leads to high latency and network bandwidth usage. To effectively tap into the growing potential of big data, there is a need to push artificial intelligence to the network edge.

Edge AI Hardware Market Report Highlights

Smartphones segment accounted highest market share in 2022 owing to the proliferation of advanced features in smartphones and the high adoption of innovative processors
Training segment held the majority market share in 2022, on account of its ability to enable machines to perform tasks like humans and process large data very quickly
Consumer electronics segment dominated the global market, which is mainly driven by higher integration of advanced AI technology in numerous applications due to its innovative capabilities
Asia Pacific region is expected to witness the highest growth rate during the forecast period on account of the widespread presence of manufacturing companies and higher spending on technological advancements in countries like India and China
The global key market players include Apple Inc., Huawei Technologies, Samsung Electronics, Cambricon Technologies, and Qualcomm Technologies

Edge AI Hardware Market Dynamics

Drivers and Opportunities

Rise in investments in AI startups
Increase in demand for smart homes & smart cities

Restraints and Challenges

Lack of awareness among the SMEs

Porter's Five Forces Analysis

PESTLE Analysis

Edge AI Hardware Industry Trends

Value Chain Analysis

COVID-19 Impact Analysis

Companies Mentioned

Apple Inc.
MediaTek
Qualcomm Technologies
Huawei Technologies
Samsung Electronics
NVIDIA
Google Corporation
Microsoft Corporation
Imagination Technologies
Cambricon Technologies
Xilinx Inc.
Intel Corporation
Advanced Micro DevicesIBM Corporation

Scope of the Report

Edge AI Hardware, Device Outlook (Revenue - USD Million, 2019 - 2032)

Smartphones
Surveillance Cameras
Robots
Wearables
Edge Servers
Smart Speakers
Automotive
Smart Mirrors

Edge AI Hardware, Processor Outlook (Revenue - USD Million, 2019 - 2032)

CPU
GPU
ASIC
Others

Edge AI Hardware, Function Outlook (Revenue - USD Million, 2019 - 2032)

Training
Inference

Edge AI Hardware, Vertical Outlook (Revenue - USD Million, 2019 - 2032)

Consumer Electronics
Smart Home
Automotive & Transportation
Government
Healthcare
Industrial
Aerospace & Defense
Construction
Others

Edge AI Hardware, Regional Outlook (Revenue - USD Million, 2019 - 2032)

North America
U.S.
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Latin America
Argentina
Brazil
Mexico
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa

For more information about this report visit https://www.researchandmarkets.com/r/rsuw4i

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SOURCE Research and Markets