According to a research report "Edge AI Hardware Market with COVID-19 Impact Analysis device, Processor (CPU, GPU, and ASICs), End User, Function (Training and Inference), Power (Less Than 1W, 1-3 W, 3-5 W, 5-10W and more than 10W) and Region - Global Forecast to 2026" published by MarketsandMarkets, 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.
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Browse 103 market data Tables and 56 Figures spread through 236 Pages and in-depth TOC on "Edge AI Hardware Market - Global Forecast to 2026"
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The rise in demand for low latency and real-time processing on edge devices, the emergence of AI coprocessors for edge computing, the reduction in data storage and operations expenses, the boost in enterprise workloads on the cloud, and the fast growth in the number of intelligent applications are all contributing to the market's growth.
Smartphones to hold the largest market share during the forecast period in the edge AI hardware market
In terms of volume, cellphones accounted for roughly 75% of the edge AI hardware market in 2020. During the projected period, rising smartphone demand might fuel the growth of the edge AI hardware market. In terms of image and photography, power efficiency, and security, smartphones with Edge AI have much more capabilities.
Use of edge AI hardware among consumer electronics is expected to witness the largest share during the period 2021 and 2026
In terms of volume, the consumer electronics industry dominates. This is because consumer spending and demand for consumer gadgets are increasing. Smartphones, smart wearables, and other electronic gadgets are in high demand. Furthermore, the emergence of new edge AI use cases can lead to a significant increase in consumer devices in the edge AI hardware industry.
APAC to grow at the largest CAGR in edge AI hardware market during the forecast period
In APAC, China is the largest market for artificial intelligence, followed by Japan; this makes the region an attractive market for edge AI hardware applications. 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. Applications such as smartphones, industrial robots, and automotive have huge potential. With the growing penetration of smartphones in China, Japan, India, and South Korea, the adoption of AI processor-enabled smartphones in APAC is expected to increase in the coming years. APAC is also one of the largest markets for industrial robots, surveillance cameras, and wearable devices, which are integrated with vision processing units to accelerate AI tasks.
The report profiles key players such as Apple (US), Intel (US), NVIDIA (US), Qualcomm Technologies (US), Huawei Technologies (China), Samsung Electronics (South Korea), IBM (US), Micron Technology (US), Xilinx (US), Google (US), Microsoft (US) and AMD (US).
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