Edge AI Hardware Market is projected to grow 2,080 million units by 2026 at a CAGR of 17.7% | are Apple (US), Intel (US), NVIDIA (US), Qualcomm Technologies (US), Huawei Technologies (China), Samsung Electronics (South Korea), IBM (US), Micron Technology
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The major players in the edge AI hardware market are 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).
Global demand for intelligent devices and applications are the driving factors for the growth of edge AI hardware market globally
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 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.
The market for wearables in edge AI hardware market could grow at the highest CAGR during the forecast period
The wearables segment could witness fast growth during the forecast period. This high growth rate could be attributed to the augmentation of features among wearables. Wearables are becoming smarter, and the inclusion of AI and edge computing could further enhance their capabilities.
The market for consumer electronics is estimated to account for the largest share during the forecast period in edge AI hardware market
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.
Edge AI hardware market in the APAC is expected to witness a robust growth during 2021-2026
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.
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