According to a research report "Edge AI Hardware Market with COVID-19 Impact Analysis device, Processor (CPU, GPU, and ASICs), End User, Function (Training and Inference), Power (Less Than 1W, 1-3 W, 3-5 W, 5-10W and more than 10W) and Region - Global Forecast to 2026" published by MarketsandMarkets, The edge AI hardware market is projected to grow from 920 million units in 2021 to 2,080 million units by 2026; it is expected to grow at a CAGR of 17.7% from 2021 to 2026. The key factors contributing to the growth of the market include rowth in demand for low latency and real-time processing on edge devices, mergence of AI coprocessors for edge computing, reduction in data storage and operations cost, ncrease in enterprise workloads on the cloud and apid growth in the number of intelligent applications.
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Browse 103 market data Tables and 56 Figures spread through 236 Pages and in-depth TOC on "Edge AI Hardware Market - Global Forecast to 2026"View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/edge-ai-hardware-market-158498281.html
COVID-19 Impact on the Global Edge AI Hardware Market
The edge AI hardware market has witnessed significant growth. The growth of this market is mainly driven by the growing demand for low latency and real-time processing on edge devices, the emergence of AI coprocessors for edge computing, reduction in data storage and operation costs and increasing enterprise workloads on the cloud. The key factors contributing to the growth of the market include growth in demand for low latency and real-time processing on edge devices, emergence of AI coprocessors for edge computing, reduction in data storage and operations cost, Increase in enterprise workloads on the cloud and rapid growth in the number of intelligent applications.
Smartphones to hold the largest market share during the forecast period in the edge AI hardware market
In terms of volume, smartphones accounted for the largest share of nearly 75% of the edge AI hardware market for devices in 2020. The increasing demand for smartphones could drive the growth of the edge AI hardware market during the forecast period. Edge AI offers added capabilities to smartphones in terms of imaging and photography, power efficiency, and security.
Use of edge AI hardware among consumer electronics is expected to witness the largest share during the period 2021 and 2026
The consumer electronics segment holds a major share in terms of volume. This is due to the rising consumer spending and demand for consumer electronics. The demand for smartphones, smart wearables, and other devices is witnessing strong growth. Moreover, the innovation and development of new use cases for edge AI could lead to the high growth of consumer electronics in the edge AI hardware market. Several opportunitie such as Dedicated AI processors for on-device image analytics, Growth in demand for edge computing in IoT, Emergence of the 5G network to bring IT and telecom together lies in front of the players in the edge AI hardware market.
APAC to grow at the largest CAGR in edge AI hardware market during the forecast period
In APAC, China is the largest market for artificial intelligence, followed by Japan; this makes the region an attractive market for edge AI hardware applications. The presence of a large number of manufacturing companies, along with the strong presence of automobile and electronics and semiconductor companies, in China and Japan drives the growth of the edge AI hardware market in APAC. Applications such as smartphones, industrial robots, and automotive have huge potential. With the growing penetration of smartphones in China, Japan, India, and South Korea, the adoption of AI processor-enabled smartphones in APAC is expected to increase in the coming years. APAC is also one of the largest markets for industrial robots, surveillance cameras, and wearable devices, which are integrated with vision processing units to accelerate AI tasks.
The report profiles key players such as Apple (US), Intel (US), NVIDIA (US), Qualcomm Technologies (US), Huawei Technologies (China), Samsung Electronics (South Korea), IBM (US), Micron Technology (US), Xilinx (US), Google (US), Microsoft (US) and AMD (US).
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