Edge AI Hardware Market Synopsis
The global edge AI hardware market registered a shipment of 532.4 million units in 2018 and is expected to reach 1,681.8 million units by the end of forecast period at a CAGR of 21.72%.
The global market for edge AI hardware is estimated to grow at a significant rate during the forecast period from 2018 to 2024. Growth in Artificial Intelligence (AI) has created huge opportunities for semiconductor companies. Edge AI processing involves low latency which is an advantage and hence is contributing to growth of the market. Edge AI processing helps reducing the data travelling time so that companies can analyze data on real-time basis. AI hardware is the core enabler for various solutions such as facial recognition and virtual assistant managing homes.
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Edge AI processing moves the AI workflow to the device, thus reducing the data travelling time through long routes. This helps the companies to analyze data in less time or on real-time basis. Furthermore, the trend of compressing large AI models into small hardware form factors is boosting up the demand for edge AI hardware. For edge AI processing, hardware required includes Central Processing Unit (CPU), (Graphics Processing Unit) GPU, Application-specific Integrated Circuit (ASIC), Field-Programmable Gate Array (FPGA), and System-on-Chip (SoC) accelerators. As edge AI processing provides low latency, it is expected to grow significantly during the forecast period. Companies are working together to manufacture cheap AI hardware. For instance, Intel and Facebook have collaborated to manufacture AI chips which would help deploy machine learning more inexpensively and efficiently.
The key players profiled in the edge AI hardware market are – Intel Corporation (US), Samsung Electronics Co., Ltd. (South Korea), Google Inc. (US), NVIDIA Corporation (US), Qualcomm (US), MediaTek Inc. (Taiwan), Xilinx Inc. (US), and Microsoft Corporation (US). These players contribute a major share in the growth of edge AI hardware market. The other prominent companies in the edge AI hardware market include Huawei Technologies Co., Ltd. (China), Imagination Technologies Limited (UK), and Cambricon Technologies (China) among others.
By component, the market is segmented into CPU, GPU, ASIC, and others. CPU is expected to dominate the Edge AI hardware market during the forecast period as it is the core processor for any edge AI hardware. ASIC segment is expected to grow at the highest CAGR during the forecast period.
By device, the market is segmented into smartphone, camera, robot, automobile, smart speaker, wearables, and smart mirror. The smartphones segment had the largest revenue share in the Edge AI hardware market in 2018 and is expected to continue its dominance throughout the forecast period. The camera segment is expected to grow at a significant CAGR during the forecast period.
By power consumption, the edge AI hardware market is segmented into less than 1 W, 1–3 W, 3–5 W, 5–10 W, and more than 10 W. By process, the edge AI hardware market is divided into training and inference.
By vertical, the market is segmented into consumer electronics, smart home, automotive & transportation, government, healthcare, aerospace & defense, construction, and others. The consumer electronics sector dominated the edge AI hardware market in 2018 and is expected to contribute a significant revenue share to the market during the forecast period. The smart home segment will grow at a significant CAGR during the forecast period.
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The global market for edge AI hardware is estimated to grow at a significant rate during the forecast period from 2018 to 2024. The geographic analysis of edge AI hardware market has been conducted for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and Latin America). Among the regions mentioned, North America is expected to dominate the edge AI hardware market. The rapid adoption of edge AI in the US and Canada is leading to the growth of market. AI is largely being applied on consumer electronics and smart home applications. Asia-Pacific is expected to grow at the highest CAGR during the forecast period. Countries such as China, South Korea, and Taiwan are some of the the largest manufacturers and exporters of semiconductor content which is creating immense opportunities for the growth of edge AI hardware market.
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