ID: MRFR/SEM/6365-HCR | February 2021 | Region: Global | 100 pages
Edge Ai Hardware Market Overview
By increasing the use of artificial intelligence (AI) is increasing the opportunity in semiconductor companies. The use of edge AI hardware in robust analytics propels the growth of the market. The factors like the availability of cheap AI hardware and cost-effective connectivity increase the growth of the market.
The trend of compressing large AI models into small hardware forms is boosting market growth. The edge AI hardware provides low latency, it is expected to escalate the edge AI hardware market growth in this region. Prominent companies like Intel and Facebook collaborated and manufactured AI chips that help deploy machine learning with highly inexpensive and efficient.
Limited on-device training and lack of talent may hamper the growth of the market and the shortage of AI experts are the major restraint of the edge AI hardware market.
The rise in the demand for edge computing in IoT and dedicated AI processors for on-device image analytics may be the edge AI hardware market opportunities to increase the growth of the market.
The edge AI hardware devices consume more power which is the major challenge of the market. Size constraint may be the other challenging factor of the market.
Study Objectives -
Edge AI hardware Market, Million Units
Source: MRFR Analysis
The edge AI hardware market registered a shipment of 532.4 million units in 2018 and is expected to reach 1,681.8 million units by the end of the forecast period at a CAGR of 21.72%.
The global edge AI hardware market has been divided into segments based on component, device, power consumption, vertical, and region.
The global edge AI hardware market based on the component is divided into GPU, CPU, ASIC, and others. Among these, the CPU (Central Processing Unit) is leading the market as it is the core processor for any type of edge AI hardware device.
Based on the device, the global edge AI hardware market is classified into various devices as camera, smartphone, robot, smart speaker, automobile, smart mirror, and wearables. Among these, the smartphones segment is dominated by the largest edge AI hardware market share due to its early adoption of AI chips or processors and advanced technologies in image recognition, real-time speech, and voice recognition.
By power consumption, the edge AI hardware segments into five types as less than 1 W, 1-3 W, 3-5 W, 5-10 W, and more than 10 W. the 10W segment is leading the market share for their advanced technologies in hardware devices.
The edge AI hardware by the process is bifurcated into two types as training and inference.
Based on vertical, the global edge AI hardware market is segmented into various types such as government, smart home, automotive & transportation, healthcare, construction, aerospace & defense, consumer electronics, and others. Out of these verticals, the consumer electronics segment is accounting for the largest share of the market due to the increasing need for edge AI hardware in smart home applications like smart thermostats, smart locks, and smart lighting.
Regionally, the global edge AI hardware market is bifurcated into four main geographies like North America, Asia-Pacific, Europe, and the rest of the world (includes Middle East, Africa, and Latin America).
Regional Analysis –
Globally, the edge AI hardware market region-wise is analyzed into Asia-Pacific, North America, Europe, and the rest of the world. Among these regions, North America is predicted to dominate the largest edge AI hardware market share during the forecast period for the growing need for faster device processing, high latency due to network congestion, rapid adoption of edge AI in the US and Canada, and growing dependency on IoT devices.
AI is used in consumer electronics and smart home applications which drives the market growth in this region. Growing government funding and a strong technical base are increasing the market in this region. Asia-Pacific is anticipated to grow at the highest CAGR due to the presence of the largest manufacturers and exporters of semiconductor content which may be the opportunity to increase the market growth.
The prominent key players in the edge AI hardware market trends are the following:
In November 2018, the most popular enterprise, Intel introduced Intel Neural Compute Stick 2 (Intel NCS 2) which is designed to build smarter AI algorithms and for prototyping computer vision at the network edge. With the support of the Intel Movidius Myriad X vision processing unit (VPU) and Intel Distribution of OpenVINO toolkit, there is a development of neural networks applications and delivers a performance boost to the existing generation neural compute stick.
In September 2018, the prominent companies Intel and Alibaba collaborated and introduced a Joint Edge Computing Platform which allows the enterprises to develop customizable device-to-cloud IoT solutions to create different edge computing scenarios which include smart building, industrial manufacturing, and smart community. By using this platform with the use of computer vision and AI, it converts the data at the edge into business insights.
In December 2017, one of the well-known enterprises, NVIDIA launched the world’s most powerful GPU for PC, TITAN V which is driven by the world’s most advanced GPU architecture named NVIDIA Volta.
This global edge AI hardware market research includes the Market Overview, COVID-19 analysis, Market Dynamics, Study Objectives, Segment Overview, Regional Analysis, Competitive Landscape, Recent developments, Segmentation Table, and FAQs. The market scenario includes the edge AI hardware market drivers, restraints, challenges, and opportunities. The edge AI hardware market forecast segments are component, device, power consumption, vertical, and region.
The edge AI hardware market trends have been segmented globally based on the power consumption, device, vertical, component, and region.
GPU, CPU, ASIC, and others.
Camera, smartphone, robot, smart speaker, automobile, smart mirror, and wearables.
By power consumption it is segmented into less than 1 W, 1-3 W, 3-5 W, 5-10 W, and more than 10 W.
Smart home, consumer electronics, government, automotive & transportation, healthcare, construction, aerospace & defense, and others.
Asia-Pacific, Europe, North America, and the rest of the world (includes Middle East, Africa, and Latin America) are the four main geographies included in this market.
|Market Size||USD 1,681.8 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Component, Device, Vertical|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Market Opportunities||The rapid move towards robust analytics has led to the growth of edge in AI processing.|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The global edge AI hardware market is predicted to grow at a 21.72% CAGR between 2021- 2027.
The global edge AI hardware market is predicted to reach USD 1,681.8 million by 2027.
North America will lead the global edge AI hardware market.
Demand for robust analytics and low latency are the key factors driving the global edge AI hardware market growth.
Key contenders profiled in the global edge AI hardware market include 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).