Edge AI Hardware Market to be Dominated by Increasing Demand for Smart Homes and Smart Cities Across the Globe Through 2028
Requirement for low latency and real-time data transmission
processing on edge devices are driving the implementation of the Edge AI
Hardware market across the globe.
According to
TechSci Research report, “Edge AI Hardware Market – Global Industry Size,
Share, Trends, Opportunity, and Forecast, 2018-2028” The Global Edge AI Hardware Market
is growing owing to increasing demand for smart homes and smart cities across
the countries to enhance the infrastructure of urban cities. Vendors globally
are making significant product innovations by integrating technologies such as
artificial intelligence (AI), machine learning and natural language processing
(NLP) to cater to customer needs and market requirements. Moreover, the digitalization
and increasing adoption of advanced technologies and the growing collaboration
with the industries to enhance the products with advanced technologies are
further driving the growth of the Global Edge AI Hardware Market.
Edge AI is the implementation
of artificial intelligence (AI) in an edge computing environment. This implies
that rather than at a centralized cloud computing facility or off-site data
centre, AI computations are performed at the edge of a particular network,
typically on the device where the data is created. In addition, Edge AI
hardware is a term used for artificial intelligence (AI) based robotics and
gadgets that are processed and powered by a collection of tools and machinery.
Companies are progressively using e-discovery solutions to reduce document
management costs and generate information owing to the transition of the world
into one that is digital and the accessibility of a huge number of storage
devices, electronic details, and details. Numerous innovations carried out in
artificial intelligence (AI), and machine learning (ML) technologies are
expected to enhance the features of Edge AI Hardware. An Edge AI Hardware is a
more practical and cost-effective one-time investment enabling customers to
deploy solutions quickly with high processing capability and low-power
consumption. Furthermore, Edge AI Hardware can also assist in lowering the cost
of difficulties caused by human mistakes. Graphics processing unit-based Edge
AI Hardware enablement for modern artificial intelligence infrastructure for accelerating
graphics processing, rise in awareness regarding Artificial Intelligence (AI) and
emergence of AI coprocessors are further increasing the demand for Global edge
AI hardware market.
With the outbreak of the
COVID-19 pandemic, Edge AI Hardware technology has been negatively affected as
the governments of almost all countries have stopped the production along with
the certain measures and strict actions to restrict the spread the virus has
adversely impacted the manufacturing industry. Moreover, the supply chain
disruption, blocked international trade, disruption in the sales of
non-essential goods and many more have impacted the growth owing to less
requirement of edge AI hardware during the Covid-19 pandemic.
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Based on device, the market
is segmented into smartphones, robots, surveillance cameras, wearables, smart
speakers, automotive, smart mirrors, and others. Based on power consumption,
the market is further segmented into less than 1W, 1-3W, 3-5W, 3-5W and more than
10W. Based on function, the market is segmented into training, inference. Based
on processor, the market is further segmented into CPU, GPU, ASIC, and others. Based
on vertical, the market is further split into healthcare & life science,
retail & consumer electronics, automotive & transportation, aerospace
& defense, government, construction, and others. The market analysis also studies
the regional segmentation to devise regional market segmentation, divided among
North America, Europe, Asia-Pacific, South America, and Middle East &
Africa.
Based on device, the smartphones
segment dominated the Edge AI Hardware market in 2022 and is expected to
maintain its dominance during the forecast period. Being a sensitive segment, the
enterprises are rapidly adopting numerous hardware and emerging technologies to
modify or upgrade the product. The edge AI hardware can offer the solutions related
to security, photography, imaging, and power efficiency. Based on this, many
service providers are adopting edge AI hardware as one and only alternative to
keep their presence in the market.
Based on function, the
inference segment obtained the greatest revenue share in the edge AI hardware
market in 2022. Edge artificial intelligence is becoming more popular because
of the advancement of low-power, high-performance processors, and the
escalating need for Internet of Things (IoT) applications. One of the main
factors propelling the edge AI hardware market is the decreased latency brought
on by the absence of cloud data transfer. The 1-3 W power consumption segment are
expected to register lucrative growth during the forecast period. With
technical developments in hardware devices such as smartphones, cameras and
other products, there is an increased desire for good recognition of 1-3 W which
is expected to acquire high traction in the Edge AI Hardware market. Moreover,
the demand of smartphones is growing as the digitalization emerges in the Global
Edge AI Hardware market.
Key market players in the global
edge AI hardware market include:
- Qualcomm Technologies, Inc.
- Huawei Technologies Co. Ltd.
- Samsung Electronics Co. Ltd.
- MediaTek Inc.
- International Business
Machines Corporation (IBM)
- Microsoft Corporation
- NVIDIA Corporation.
- Google LLC (Alphabet Inc.)
- Apple Inc.
- Intel Corporation
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“The Asia Pacific region
shows substantial growth prospects for Edge AI Hardware which can be attributed
to the significant benefits it offers to enterprises, including improved
customer satisfaction, reduces the latency by processing the data locally, data
security, increased accuracy, reduced operating costs, and enhanced operating efficiency.
Moreover, the increasing smartphone penetration and rising number of IoT
integrated devices are further growing the market. The Edge AI Hardware is
gaining traction and is expanding to various countries in Asia Pacific,
including China and Japan. Owing to the early adoption of technologies such as cloud
computing, artificial intelligence and natural language processing coupled with
the massive number of companies present in the country, China leads the market
and is expected to continue its dominance in global edge AI hardware market
during the forecast period as well,” said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based global management consulting firm.
“Edge AI Hardware Market – Global Industry Size, Share, Trends,
Opportunity, and Forecast, 2018-2028, Segmented By Device (Smartphones, Robots,
Surveillance Cameras, Wearables, Smart Speakers, Automotive, Smart Mirrors,
Others), By Power Consumption (Less Than 1W, 1-3W, 3-5W, 3-5W and More Than
10W), By Function (Training, Inference), By Processor (CPU, GPU, ASIC, and
Others), By Vertical (Healthcare & Life Science, Retail & Consumer
Electronics, Automotive & Transportation, Aerospace & Defense,
Government, Construction and Others), By Region, Competition, Forecast &
Opportunities, 2028F”, has
evaluated the future growth potential of Edge AI Hardware and provides statistics and information on market structure,
size, share, and future growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the Global Edge AI Hardware
Market.
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