Consumer vertical makes largest share eyes APAC with highest growth in Speech and Voice Recognition Market

 According to the new market research report "Speech and Voice Recognition Market with COVID-19 Impact Analysis by Delivery Method, Deployment Mode (On Cloud, On-Premises/Embedded), Technology (Speech Recognition, Voice Recognition), Vertical and Geography - Global Forecast to 2026", The speech and voice recognition market is expected to grow from USD 8.3 billion in 2021 to USD 22.0 billion by 2026; it is expected to grow at a CAGR of 21.6% during the forecast period. The major driving factors for the growth of the speech and voice recognition market include increase in use of smart appliance and use of artificial intelligence technology to boost accuracy of speech and voice recognition system. The COVID-19 outbreak resulted in a decline in the growth rate of the speech and voice recognition market, especially in 2020 and 2021. The COVID-19 pandemic affected the speech and voice recognition market both positively and negatively. The demand for smart appliances and devices has increased with most of the population working from home. This has also created an opportunity for the speech and voice recognition market as this technology is being used in various smart devices. However, many people are also focusing on basic amenities during the pandemic, putting off other purchases for the time being. The COVID-19 pandemic has also resulted in halted production, thus affecting the manufacturing capabilities of all regions;  the supply of products from manufacturers to end users has declined drastically as a result.

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Speech Recognition technology shows significant increase in speech and voice recognition market during the forecast period.

Growing demand for speech-enabled consumer electronics devices including smart home devices, mobile devices, and wearable devices is expected to result in rapid growth of the speech recognition market during the forecast period. The automatic speech recognition (ASR) segment is expected to record the highest CAGR in the forecast period. The growing accuracy of ASR technology offered by Chinese vendors, such as Baidu (China) and iFLYTEK (China) is expected to benefit the entire value chain for the automatic speech recognition market in Asia Pacific during the forecast period. The growing need for local language-based speech recognition software in South Asian countries is expected to provide ample growth opportunities for the ASR market in APAC during the forecast period.

On-premises/embedded deployment mode to grow significantly during the forecast period

The demand for on-premises/embedded infrastructure is expected to increase in the forecast period. Americas will lead the market for the on-premises/embedded segment as a result of more companies demanding on-premises/embedded deployment. The increasing demand for on-premises/embedded infrastructure is also leading to an increase in the number of providers in the Americas, thereby improving the overall market growth.

Consumer vertical to have the largest market share during the forecast period

In 2020, the consumer vertical accounted for the largest size of the speech and voice recognition market and is expected to hold a dominant position throughout the forecast period. The introduction of voice based smart devices in the consumer sector has led to the launch of many innovative products in the market. The continuous decline in the cost of voice and speech devices, software developments, and relevant content developments are also driving the market for speech and voice recognition. The increasing demand for intelligent virtual assistant smart speakers with voice capabilities is expected to be a prominent driver for the speech and voice recognition market for the consumer vertical during the forecast period.

APAC to grow with highest CAGR for speech and voice recognition market during the forecast period

The market in APAC is expected to grow during the forecast period. The growing focus on artificial intelligence (AI) in industries and enterprises is also expected to contribute toward the growth of the voice recognition market in Asia Pacific during the forecast period. Increasing digitalization and government policies favoring digitalization and technological innovations are also expected to drive the growth of market in APAC region.

Key Market Players

Apple (US), Microsoft (US), IBM (US), Alphabet (US), Amazon (US), Sensory (US), CANTAB Research (UK), Baidu (China), iFLYTEK (China) and SESTEK (Turkey) are among the key players operating in the speech and voice recognition market.

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Vibration Sensors Market revenue impact growth $3.0 billion by 2025

 

According to the new market research report "Vibration Sensors Market with Covid-19 Impact by Type (Accelerometers, Proximity Probes, Displacement Sensors, Velocity Sensors), Monitoring Process (Online and Portable), Equipment, Industry, and Region - Global Forecast to 2025", the vibration sensors market was valued at USD 2.0 billion in 2020 and is projected to reach USD 3.0 billion by 2025; it is expected to grow at a CAGR of 8.2% from 2020 to 2025. A few key factors driving the growth of this market are growing adoption of automated condition monitoring technologies for the development of smart factories, rising use of wireless systems for machine condition monitoring, ongoing transition from preventive to predictive maintenance, and increasing demand for vibration sensors from emerging applications.

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Accelerometers to hold largest share of vibration sensors market during forecast period

Accelerometers are expected to account for the largest share of the vibration sensors market during the forecast period. The growth of this segment can be attributed to the increased use of accelerometers for collecting vibration monitoring data. Piezoelectric accelerometers are the most commonly used sensors in vibration monitoring applications. They are suitable for a wide band of frequencies, ranging from very low to very high frequencies. These accelerometers are also available in a wide variety of application-specific designs.

Energy and power industry to account for the largest share of vibration sensors market during forecast period

The Energy and power industry is expected to account for the largest share of vibration sensors market during forecast period. The power industry is facing challenges owing to the continuously increasing demand for power and the requirement to reduce distribution losses. This has led power generation companies to offer continuous power supply at low costs and monitor their processes for any unwanted changes. Hence, vibration sensors play a crucial role in the power sector.

Vibration sensors market in APAC to grow at highest CAGR during forecast period

Ongoing industrialization, growing adoption of predictive maintenance tools, and increasing competitive pressure on industries such as oil and gas, energy and power, chemicals, and automotive to achieve operational efficiency are fueling the growth of the vibration sensors market in APAC. The expansion of manufacturing activities as a result of the shifting of production bases to APAC countries, such as China, India, and South Korea, with low labor costs, is driving the demand for vibration sensors in the region. However, the outbreak of the COVID-19 has significantly affected the manufacturing sector of APAC. As neighboring countries in the region are linked to one another through trade relations and supply chain, the entire region is affected by this pandemic.

Baker Hughes Company (US), TE Connectivity (Switzerland), SKF (Sweden), Honeywell International Inc. (US), Emerson Electric Co. (US), Robert Bosch (Germany), NXP Semiconductors (Switzerland) Omron Corp. (Japan), Rockwell Automation Inc. (US), National Instruments (US), Robert Bosch (Germany), Dytran Instruments, Inc. (US), KEYENCE Corp. (Japan), Fluke Corp. (US), Wilcoxon Sensing Technologies (US), PCB Piezotronics (US), and SPM instrument (Sweden), are among the major players in the vibration sensors market.

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Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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Deep learning technology expected to be adopted extensively during the forecast period | Artificial Intelligence Chipsets Market

 

According to the latest market research report "Artificial Intelligence (Chipsets) Market by Technology (Machine learning, Natural Language Processing, Context Aware Computing, Computer Vision), Hardware (Processor, Memory, Network), End-User Industry, and region - Global Forecast to 2026", The global AI (chipsets) market size is expected to be valued at USD 7.6 billion in 2020 and likely to reach USD 57.8 billion by 2026, at a CAGR of 40.1% during the forecast period. Major drivers for the market are increasingly large and complex datasets driving the need for AI, the adoption of AI for improving consumer services and reducing operational costs, the growing number of AI applications, the improving computing power, and growing adoption of deep learning and neural networks.

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The computer vision technology projected to grow at the highest CAGR during the forecast period

Computer vision technology is expected to grow at the highest CAGR in the AI (chipsets) market during the forecast period. The growing adoption of computer vision in autonomous or semiautonomous applications in various industries, such as manufacturing and automotive, is propelling the growth of this technology in the AI (chipsets) market.

The GPU segment is expected to grow the fastest during the forecast period

The market for GPUs is expected to grow at the highest CAGR during the forecast period. This growth is attributed to high parallel computing offered by GPUs and increasing adoption of GPUs at servers/edge devices for processing various AI applications/solutions across industry verticals. GPUs and FPGAs are widely used to implement machine learning algorithms. In terms of throughput, GPUs are ~100 times faster than FPGAs, whereas, in terms of power efficiency, FPGAs are 50 times better than GPUs. GPUs are used extensively to accelerate computational workloads, and their capabilities are growing faster than those of x86 CPUs

AI (chipsets) for the manufacturing industry is expected to grow at highest CAGR during the forecast period

The AI (chipsets) market for the manufacturing industry is expected to witness the fastest growth during the forecast period. This growth is attributed to increasing factory automation and growing demand to reduce operational costs. Additionally, trends such as Industry 4.0 are boosting the growth of AI (chipsets) in the manufacturing sector.

AI (chipsets) market in APAC projected to grow at the highest CAGR from 2020 to 2026

The market in APAC is anticipated to grow at the highest CAGR during the forecast period. This growth can be attributed to the adoption of AI services in end-user industries such as manufacturing, healthcare, and automotive in countries such as Japan, China, Australia, and South Korea. Additionally, declining AI hardware costs and increasing demand to improve consumer services are supplementing the growth of the AI (chipsets) market in APAC.

Some of the major players in the AI (chipsets) market are NVIDIA Corporation (NVIDIA) (US), Intel Corporation (Intel) (US), Xilinx, Inc. (Xilinx) (US), Samsung Electronics Co., Ltd. (Samsung) (South Korea), Micron Technology, Inc. (Micron) (US), Qualcomm Technologies, Inc. (US), International Business Machines Corporation (IBM) (US), Google Inc. (Google) (US), Microsoft Corporation (Microsoft) (US), Amazon Web Services (an Amazon.com, Inc. subsidiary) (AWS) (US), Advanced Micro Devices, Inc. (AMD) (US), General Vision, Inc. (US), and Huawei Technologies Co., Ltd. (Huawei) (China).

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Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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Ceramic-Metal Sealing (CERTM) is projected to grow at Hermetic Packaging Market highest CAGR during the forecast period

 

According to the new market research report "Hermetic Packaging Market with COVID-19 impact by Configuration (Multilayer Ceramic Packages, Metal Can Packages, Pressed Ceramic Packages), Type (Ceramic-Metal Sealing, Glass-Metal Sealing), Application, Industry, and Region - Global Forecast to 2025", the global hermetic packaging market size is projected to reach USD 4.3 billion by 2025 from USD 3.5 billion in 2020 at a CAGR of 4.3%. Major requirements of safety and absolute reliability in industries, such as electronics, automobile, and aeronautics and space, are contributing to the rising demand for hermetic packaging, and have been propelling the growth of the hermetic packaging market.

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Multilayer ceramic packages to hold the largest size of hermetic packaging market from 2020 to 2025

Multilayer ceramic packages are most suitable for packaging complex electronic circuits, such as microelectromechanical systems (MEMS). They are widely adopted for high-frequency applications such as data communication, wireless communication, and optical communication because they offer better hermeticity than other configurations, and also enable a large number of electrical feedthroughs within very small spaces. Thus, multilayer ceramic packages account for the largest share of the hermetic packaging market.

The market for Ceramic-Metal Sealing (CERTM) is projected to grow at highest CAGR during the forecast period

A ceramic–metal seal is a joined or bonded assembly of ceramic on one side and a metal on the other. Ceramic–metal seals are used in industries that entail high operating temperature, high voltage withstanding, biocompatibility, or special chemical resistance. The aeronautics & space industry has largely adopted CERTM hermetically sealed transistors, as they are thermal shock resistant. This has been a key factor driving the CERTM sealing market.

Hermetic packaging market for military & defense industry to grow at highest CAGR from 2020 to 2025

The hermetic packaging technology is highly trusted and dependable for users in the military & defense industry. This is because the hermetic packaging technology helps in addressing distinctive challenges related to safety and absolute reliability that are inherent in applications such as air surveillance and underwater surveillance. However, the recent outbreak of the COVID-19 pandemic has negatively affected the military defense sector globally. It is expected that countries around the world, especially those that have really poor or inadequate healthcare infrastructure and penetration, are expected to have to spend significantly on social security to cope with the pandemic. If governments of such countries are in questionable financial shape, with limited reserves, inadequate avenues for borrowing, and low liquidity, spending is expected to be met by channeling funds from other high-value budget segments, which include defense budgets. This, in turn, is expected to challenge the growth of the hermetic packaging market in the military & defense industry.

APAC to be the fastest-growing market for hermetic packaging during the forecast period

The hermetic packaging market in APAC is expected to grow at the highest CAGR from 2020 to 2025. Increasing energy needs, emerging economies, and increasing defense spending are some of the factors driving the growth of this market in the region. The rising military capabilities of emerging countries such as China, India, and South Korea are boosting the demand for hermetic packaging for sensitive electronic components. Due to the COVID-19 pandemic, the Asia Pacific region has been significantly affected. The pandemic has led to a significant slowdown in the manufacturing industry. The implementation of lockdowns in several countries has negatively affected the operations of end-use industries such as automotive, military & defense, aeronautics & space, due to which the market for hermetically packaged products is expected slowdown in 2020 in the Asia Pacific.

The key players operating in the hermetic packaging market include SCHOTT (Germany), AMETEK, Inc. (US), Amkor Technology, Inc. (US), Texas Instruments Incorporated (US), Teledyne Technologies (US), Kyocera Corporation (Japan), Materion Corporation (US), Egide (France), Micross Components Inc. (US), and Legacy Technologies Inc. (US).

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Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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Magnetic Sensor Market estimated to grow at highest CAGR throughout region, APAC by 2025

 

The report "Magnetic Sensor Market with COVID-19 Impact Analysis by Type (Hall Effect, Magnetoresistive (AMR, GMR, TMR), SQUID, Fluxgate), Range (<1microgauss, 1microgauss-10gauss, and >10gauss), Application, End-user Industry, Geography - Global Forecast to 2025 ",magnetic sensor size is projected to reach USD 6.2 billion by 2025 from an estimated USD 4.3 billion in 2020, at a CAGR of 7.7% from 2020 to 2025. Intensifying focus of manufacturers towards producing 3D magnetic sensors and unceasing growth of consumer electronics industry are among the factors driving the growth of the magnetic sensor market.

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Magnetoresistive sensors segment to projected to register highest CAGR between 2020 to 2025

The magnetoresistive sensors have a wide operating range and possess features and functionalities such as inherently low hysteresis, low power consumption, and high linearity for improved measurement accuracy as compared with Hall effect sensors. Also, the cost of magnetoresistive sensors is decreasing gradually, which will boost the market for these sensors in various applications during the forecast period. Thus, the magnetoresistive sensors segment is projected to grow at the highest CAGR during the forecast period.

By range, >10 gauss segment is projected to register highest CAGR between 2020 and 2025

The >10 gauss segment of the market is projected to grow at a higher CAGR from 2020 to 2025 than the 1 microgauss–10 gauss and <1 microgauss segment. The growth of the >10 gauss segment can be attributed to the increasing demand for driverless cars and green vehicles.

By application, speed sensing applications is projected to grow at the highest CAGR during the forecast period

The speed sensing applications is projected to grow at the highest CAGR during the forecast period. The growth can be attributed to the rising demand for highly accurate, small size, simple design, reliable, and pocket-friendly magnetic speed sensors in the automotive industry. In the automotive industry, speed sensors are found in anti-lock braking system (ABS), engine camshafts/crankshafts, speedometers, and automatic transmissions.

By region, APAC magnetic sensor market estimated to grow at highest CAGR throughout forecast period

In 2019, APAC held the largest share of the magnetic sensor market. The market in the region is expected to grow at the highest CAGR from 2020 to 2025. The growth of the magnetic sensor market in APAC can be attributed to the growing population in countries of APAC. The region houses some of the world’s highly populated countries, including Chain and India. These countries are witnessing large sales of smartphones and tablets. This, in turn, drives the growth of the magnetic sensor market in APAC.

Asahi Kasei Corporation (Japan), Allegro MicroSystems, LLC (US), Infineon Technologies AG (Germany), TDK Corporation (Japan), Melexis (Belgium), Honeywell International Inc. (US), TE Connectivity (Switzerland), ams AG (Austria) are some of the key players in the magnetic sensor market.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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Automatic Labeling Machine Market worth $2.9 billion by 2024

 

According to the new market research report “Automatic Labeling Machine Market by Type (Self-Adhesive/Pressure-Sensitive Labelers, Shrink Sleeve Labelers and Glue-Based Labelers), Industry (Food & Beverages, Pharmaceuticals, Consumer Products, Personal Care), Geography - Global Forecast to 2024”, the automatic labeling machine market is expected to be valued at USD 2.5 billion in 2019. It is expected to grow USD 2.9 billion,at a CAGR of 3.6% from 2019 to 2024. The factors that are driving the growth of the market include the increasing demand for automation in the food industry and the growing need for packaging solutions.

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“Shrink-Sleeve labelers expected to grow at the highest CAGR in global automatic labeling machine market“

Shrink sleeve labelers are a relatively new type of machine in the automatic labeling machine market which has been making a name for itself in the label industry as these machines uses labels which leads to full body design allowing for more graphics, impact, and color. The shrink-sleeve labelers are booming in the market as the sleeve film is sensitive to light, abrasion resistant, durable, and waterproof. These labels can be easily removed from the containers and bottles, allowing the container/bottle to be reused. The sleeve film is environment-friendly as there is no need for glue which does not lead to any hazardous waste and this film is easily recyclable. Although the shrink sleeve labelers are most costly than other labeling machines, it is the best way to provide the maximum brand promotion and awareness among the customers.

“Food & beverages industry is expected to exhibit the highest growth from 2019 to 2024”

The fast-changing food & beverages industry across the world requires automatic labeling machines to a great extent. Improved economic conditions in emerging countries, purchasing parity, increasing health awareness, change in dietary habits, rising demand for nutritious food, and adoption of automated technology in labeling are the significant factors which are expected to further fuel the growth of global food & beverages processing and packaging machinery industry.

“APAC expected to be the fastest-growing automatic labeling machine market from 2019 to 2024”

The market in Asia Pacific is expected to grow at the highest CAGR during the forecast period. The growth of the market during the forecast period is expected due to the development of the packaging machinery industry, demand for automated labeling solutions, increasing consumer awareness regarding packaging, the demand for packaging in the food industry, and the need for high speed & high-quality labeling solutions. On the other hand, China and Taiwan were the major markets in Asia Pacific in 2018 as they are one of the major exporters of the low-speed machines capturing the large share of the market.

Major players included in the automatic labeling machine market are Krones (Germany), SACMI (Italy) and Sidel (Italy). The other key players in this market include companies such as HERMA (Germany), KHS (Germany), Fuji Seal (Japan), ProMach (US), Marchesini Group (Italy), IMA Group (Italy), Accutek (US), and Barry-Wehmiller (US), among others.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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Smartphones is Expected to Hold the Largest Market for Edge AI Hardware

 

The report "Edge AI Hardware Market by Device (Smartphones, Cameras, Robots, Automobile, Smart Speakers, Wearables, and Smart Mirror), Processor (CPU, GPU, ASIC and Others), Power Consumption, Process, End User Industry, and Region - Global Forecast to 2024", The edge AI hardware market is expected to register a shipment of 610 million units in 2019 and is likely to reach 1559.3 million units by 2024, at a CAGR of 20.64% during the forecast period. Major drivers for the market’s growth are growing demand for low latency and real-time processing on edge devices and emergence of AI coprocessors for edge computing. Further, underlying opportunities for the edge AI hardware market include growing demand for edge computing in IoT and dedicated AI processors for on-device image analytics. Major restraints for the market are limited on-device training and limited number of AI experts. Power consumption and size constraint pose major challenges to the edge AI hardware market.

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In Term of Device Type, the Market for Cameras is Expected to Grow at the Highest CAGR During the Forecast Period in the Edge AI Hardware Market

Cameras have been an integral part of various smart devices with Wi-Fi support, smart functions, superior speed, and enhanced performance for years. However, cameras as standalone smart devices with vision processing units (VPU) that help deliver power-efficient solutions for vision and artificial intelligence are now entering the market. Such devices are designed to run deep neural networks at high speed and low power without compromising on accuracy, which enables devices to see, understand, and respond to their environment in real time. The VPU market is constantly witnessing advancements. For instance, the previous-generation Myriad 2 VPU developed by Movidius offered deep neural network support at relatively low power. The new Myriad X VPU (introduced by Intel (US) in August 2017), however, can achieve roughly 10X better performance; with multiple neural networks running simultaneously, to offer extended autonomous capabilities across wide range of applications such as drones, robotics, VR, and smart cameras. Due to developments like these, the market is witnessing an influx of cameras powered by AI chips that allow these devices to judge moment’s best suited to capture stills or videos.

Smartphones is Expected to Hold the Largest Market for Edge AI Hardware

Dedicated AI chip or AI processors were one of the major developments in the smartphone technology last year. Increasing demand for real-time speech and voice recognition and analysis, as well as technical advancements in smartphone image recognition is driving the market for AI processors in smartphones. A majority of AI processors have an additional inbuilt Neural Processing Unit (NPU) that can handle significant amounts of parallel processing, uses low power, and is capable of cognitive tasks. Till date, most AI-related processing like prediction, detection, pattern matching, and classification tasks on mobile apps and assistants take place primarily in the cloud. However, with AI processors built in a phone, these AI tasks could be carried out right on the device, even without any connectivity; this would not only improve performance of the device, but also reduce strain on the battery. The AI features in smartphones at present are mainly focused on imaging and photography, power efficiency and security

In APAC, China is the Largest Contributor for Edge AI Hardware Market in Terms of Market Share

Currently, China is undertaking many projects, especially in the infrastructure sector, such as rail, airport, stadiums, and highway systems that are expected to require high-definition surveillance systems, which can capture clear images even in darkness. China is home to video surveillance players such as Dahua (China) and Hikvision (China) that dominate the video surveillance hardware market. Both Hikvision and Dahua have already launched deep learning surveillance cameras in the market. China has already started deploying cloud AI based surveillance cameras to monitor its citizens. This development will lead to adoption of edge AI in surveillance cameras. China is among the highest spenders on the manufacturing sector in APAC. The manufacturing sector in China is growing rapidly, resulting in the introduction of new robotics and big data technologies. In addition, China, being a global manufacturing hub, holds immense potential for the automotive industry. These factors are expected to fuel the growth of the edge AI hardware market in China as AI is increasingly being used in the country’s automotive and transportation sectors.

Intel Corporation (US), NVIDIA Corporation (US), Samsung Electronics Co., Ltd. (South Korea), Huawei Technologies Co., Ltd. (China), Google Inc. (US), MediaTek Inc. (Taiwan), Xilinx Inc. (US), Imagination Technologies Limited (UK), and Microsoft Corporation (US) are a few major players in the edge AI hardware market.

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