Edge Artificial Intelligence Hardware Market to Hit USD 46.59 Bn by 2032 at a CAGR of 17.7% | Emergen Research
Rising demand for lower latency in processing large volume of data and rapid growth in various end use industries are key factors driving market revenue growth
VANCOUVER, BRITISH COLUMBIA, CANADA, July 4, 2023/EINPresswire.com/ — The global edge Artificial Intelligence (AI) hardware market size was USD 9.21 Billion in 2022 and is expected to register a steady revenue CAGR of 17.7% during the forecast period, according to latest analysis by Emergen Research. Rising demand for lower latency in processing large volume of data and rapid growth in various end use industries are major factors driving market revenue growth.
Edge AI devices can process Machine Learning (ML) algorithms on device without internet or cloud connectivity. An edge AI microchip is capable of data-driven decision making autonomously without the use of Internet. Since the data never leaves chip, edge AI that has been built into it can have a latency of less than one millisecond. The technology’s decentralized structure enables ML algorithms to function independently. While, data security is increased because it can’t be intercepted in transit to towers or servers if it never leaves the device. In addition, rising demand for lower latency in processing large volume of data is expected to drive revenue growth of the market to a greater extent.
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Devices that enhance consumer convenience, enjoyment, privacy, and safety are becoming increasingly popular. In many appliances, usage of Human-Machine Interface (HMI) from simply physical to gesture, voice, and image-based input techniques is rising rapidly. A lot of consumer electronics, including smart speakers, wearables, gaming consoles, drones, and robots for home automation, utilize edge AI which can increase need for edge AI hardware components. However, issues related to security in edge AI and loss of data are major factors, which could restrain market revenue growth.
Key Highlights from the Report
The processor segment is expected to account for largest revenue share in the global edge AI hardware market over the forecast period. This is due to rising demand for edge computing for processing complex AI algorithms, which has led to increasing need for edge AI hardware components such as processors.
The smartphone segment is expected to register steadily fast revenue growth rate in the global edge AI hardware market over the forecast period. This is attributed to rapid increase in smartphone penetration in developing and developed countries. High-end smartphones are increasingly using edge AI chips to localize processing. Smartphones are embedding AI-powered vision computing algorithms into their camera modules to meet functional needs for both human and computer vision.
The consumer electronics segment accounted for significantly large revenue share in the global edge AI hardware market in 2022. This is attributed to increasing use of consumer electronics devices such as smart speakers, smartphones, wearables, PCs/tablets, autonomous cars, drones, robots, and security cameras.
The North America accounted for largest revenue share in the global edge AI hardware market in 2022. This is due to presence of major market players in the countries of this region offering a wide range of product portfolios at a competitive price.
Covid 19 Impact
The latest market intelligence report underscores the impact of the COVID-19 pandemic on the global Edge Artificial Intelligence Hardware market, offering deep insights into the pandemic’s adverse effects on the global economy and, consequently, this particular business sector. The report carefully gauges the key market-influencing factors and considers the COVID-19 pandemic as one of the contributing elements for this industry’s potential downturn. Following the pandemic, drastic changes have been observed in the market dynamics and demand trends, which have caused financial difficulties for the businesses operating in this sector. Additionally, the report assesses the COVID-19 impact on the overall growth of the Edge Artificial Intelligence Hardware market, besides preparing a future impact assessment to help readers make informed business decisions.
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Key Companies Profiled in the Report are:
Apple Inc., Huawei Technologies Co., Ltd., Intel Corporation, MediaTek Inc., NVIDIA Corporation, Qualcomm Technologies, Inc., Samsung, Microsoft, Advanced Micro Devices Inc., and ClearBlade Inc
Outlook for the Region:
This Research Consider the following Regions:
North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of the EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Research Methodology
Our team of analysts has performed an accurate analysis of significant market elements leveraging advanced primary and secondary research tools. They have deployed well-known analytical tools like SWOT Analysis and Porter’s Five Forces Analysis for the comprehensive market study. A great deal of vital data & information related to the Edge Artificial Intelligence Hardware market has been gathered in the report from various reliable sources. Under the primary research study, detailed supply chain analysis, value chain analysis, several industry experts’ interviews, and a brief analysis of the Edge Artificial Intelligence Hardware market’s vendor landscape have been covered. Therefore, as part of secondary research, the report offers vital information pertaining to the company profiles of the key market contenders. Hence, the report’s market segmentation section looks at the global sector to scrutinize key trends, regional markets, and recent industry developments.
Global Edge Artificial Intelligence Hardware Market Segmentation by Regions:
The countries covered in the regional analysis of the Global Edge Artificial Intelligence Hardware Market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
Component Outlook (Revenue, USD Billion; 2019-2032)
Memory
Sensor
Processor
Others
Device Type Outlook (Revenue, USD Billion; 2019-2032)
Smartphones
Robots
Wearables
Cameras
Others
End-use Outlook (Revenue, USD Billion; 2019-2032)
Consumer Electronics
Automotive
Aerospace and Defense
Healthcare
Others
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Global Edge Artificial Intelligence Hardware Market Report – Table of Contents:
Chapter 1: This section includes the introduction of the global Edge Artificial Intelligence Hardware market, along with a comprehensive market overview, market scope, product offerings, and an in-depth investigation of the market drivers, growth opportunities, risks, restraints, and other vital factors.
Chapter 2: This section offers comprehensively analyses the key manufacturers engaged in this business vertical, as well as their sales and revenue estimations.
Chapter 3: This chapter of the report elaborates on the highly competitive terrain of the market and underscores the wide-ranging vendor landscape.
Chapter 4: In this section, our researchers have fragmented the Edge Artificial Intelligence Hardware market on the basis of region and predicted the sales, revenue, and market share of each region over the forecast timeline.
Chapters 5 and 6: These chapters focus on the systematic market segmentation based on product type, application, and end-user.
Competitive Outlook:
The global Edge Artificial Intelligence Hardware market is highly consolidated due to the presence of a large number of companies across this industry. These companies are known to make hefty investments in research and development projects. Moreover, they control a considerable portion of the overall market share, thus limiting the entry of new players into the sector. The global Edge Artificial Intelligence Hardware market report studies the prudent tactics undertaken by the leading market players, such as partnerships and collaborations, mergers & acquisitions, new product launches, and joint ventures.
Reasons to Purchase this Report:
The factors affecting the market in each location are further illustrated through regional report analysis displaying product/service consumption in a locale.
Reports describe the opportunities and risks that manufacturers of Edge Artificial Intelligence Hardware Service face globally.
The study finds the areas and sectors with the most possibility for expansion.
A market that is competitive and features significant firm market rankings, new product introductions, joint ventures, corporate growth, and acquisitions.
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