The edge AI hardware market is projected to grow from 1,056 Million Units to reach 2,716 million units by 2027; it is expected to grow at a CAGR of 20.8% during the forecast period. The growth of edge AI hardware market are expected to be driven by a focus on reducing data storage and operational costs, and the development of many intelligent applications.
The edge AI hardware market for consumer electronics is expected to have highest market share during the forecast period. The demand for smartphones, smart wearables, and other devices is rising to a great extent. Moreover, the innovation and development of new use cases for edge AI could lead to the high growth of the consumer electronics segment in the edge AI hardware market.
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North America to have second highest market share of edge AI hardware market. North America has been extremely responsive toward adopting the latest technologies and is an early adopter of AI technologies. The US is a major contributor to the growth of the edge AI hardware market in this region; also, most key players, such as NVIDIA, Intel, Apple, and Google, are headquartered in the US. Smartphones are one of the prominent application areas for edge AI hardware. Moreover, the growing use of VPUs in unmanned aerial vehicles (UAVs), security and surveillance cameras, and automobiles, among other application areas, drive the growth of the market in North America.
Key players in the edge AI hardware market are grabbing opportunities by indulging in agreements, partnerships and acquisitions. Product development and expansions were a few of the other strategies adopted by companies in this market to strengthen their market position.
The report profiles key players in the edge AI hardware market and analyzes their market shares. Players profiled in this report are Apple (US), MediaTek (Taiwan), Qualcomm Technologies (US), Huawei Technologies (China), and Samsung Electronics (South Korea), Intel (US), NVIDIA (US), IBM(US), Google (US), Microsift (US), AMD (US), Micron Technology (US), Imagination Technologies (UK), Cambricon Technologies (China), Tenstorrent (Canada), Blaize (US), General Vision (US), Mythic (US), Zero ASIC (US), Applied Brain Research (Canada), Horizon Robotics (China), CEVA (US), Graph core (UK), SambaNova (US), Hailo (Israel), Veridify Security (US).