Global Edge AI hardware Market, by Component (CPU, GPU, ASIC, and Others), by Device (Smartphone, Camera, Robot, Automobile, Smart Speaker, Wearables, and Smart Mirror), by Vertical (Consumer Electronics, Smart Home, Healthcare, Aerospace & Defense, Government, and Others), by Region (North America, Europe, Asia-Pacific, Rest of the World) —Forecast till 2027
Overview
Edge AI hardware is a set of devices that are used to control and Power artificial intelligent-based devices and robots. To improve the processing of artificial intelligence devices, the Edge AI hardware is used. Edge AI hardware helps the artificial intelligence devices process the data in the devices themselves. The power of performing AI inference without having to transfer the data has created h huge demand for the Edge AI hardware industry. With advanced technology, the uses of AI also increasing in devices and business. With the help of AI, industries can reduce their costs where accuracy is much required.
AI devices have created a huge demand in the last few years due to their constant connectivity with enhanced performance. Government organizations, industrial, real estate, automotive, transportation, healthcare, and manufacturing sectors using AI devices. The Edge AI hardware industry is expected to see huge growth with the adoption of advanced technology. AI devices provide great privacy and security services to companies, and they protect sensitive data with public cloud service providers. Edge AI handles the AI workflow in AI devices, and it reduces the data traveling time. This technology helps the companies to analyze the data in less time.
The Edge AI hardware market size is expected to grow 1,681.8 million units with a CAGR rate of 21.72% in the forecast period. One of the major reasons for edge AI hardware market growth is the utilization of artificial intelligence. Rapid growth in the numbers of computers and services is one of the influencing factors in the Edge AI hardware market growth. Edge AI processing gives low latency, less time data analyzing advantage, and that’s why it is expected to grow more in the forecast period.
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Market segmentation
The edge AI hardware market is segmented on the basis of component, device, process, Power consumption, and Vertical. Edge AI hardware industry component segment includes CPU, GPU, ASIC, and others. Among these, CPU is expected to dominate the edge AI hardware market in the forecast period. The device segment of the edge AI hardware industry includes smartphones, robots, smart speakers, automobiles, cameras, and smart mirrors. The smartphone is currently dominating the edge AI hardware market, and it will dominate in the future also. The power consumption segment of the market is divided into less than 1 W, 1-3 W, 3-5 W, 5-10 W, and more than 10 W. By process, the market is segmented into training and inference. By vertical, the market is divided into the smart home, government, healthcare, consumer electronics, construction, automotive & transportation, and others.
Regional overview
The major regions that are part of the edge AI hardware industry are Europe, North America, Asia Pacific, and other regions in the world. Currently, North America has the highest market size. The adoption of edge AI and AI devices in this region is boosting the edge AI hardware market size. The Asia Pacific is the fastest-growing region, and the AI hardware market size is expected to grow at the highest CAGR in the forecast period due to some of the largest manufacturers of semiconductors in this region. The adoption of artificial intelligence is growing in all the regions, and it will drive the edge AI hardware market growth.
Industry news
Just like other industries, covid-19 had affected the edge AI hardware market. Due to the lockdown all over the world, the production of products was at a halt. The edge AI hardware industry also went through the same. Less demand and supply impacted the edge AI hardware market trend. The key players are trying their best to grow the edge AI hardware market trend in this situation. After the covid-19, the edge AI hardware market trend is expected to grow more.
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