Rising demand for real-time data transmission in mission-critical applications is driving demand and adoption

Global Edge AI Hardware Market

Dublin, June 05, 2024 (GLOBE NEWSWIRE) — The “Global Edge AI Hardware Market by Device, Processor (CPU, GPU, ASIC), Function (Training, Inference), Power Consumption (< 1W, 1-3W, 3-5W, 5-10W, > 10W), Vertical and Region – Forecast to 2029″ report has been added. ResearchAndMarkets.com Recruitment.

The edge AI hardware market is projected to grow from $24.2 billion in 2024 to $54.7 billion in 2029, growing at a CAGR of 17.7% from 2024 to 2029.

This report defines, describes and forecasts the Edge AI Hardware market based on device, power consumption, processor, functionality, vertical and region. It provides detailed information about the drivers, restraints, opportunities and challenges affecting the growth of the Edge AI Hardware market. It also analyzes competitive developments such as product launches, acquisitions, expansions and actions taken by key players to grow in the market.

Edge AI hardware enables data processing and analytics to be performed locally on edge devices, reducing the amount of raw data that needs to be sent to and stored in the cloud. This local processing minimizes the need for extensive cloud storage, optimizes bandwidth, and reduces latency.

The report profiles the leading players in the Edge AI Hardware market along with their market ranking analysis. Some of the prominent players profiled in the report include Qualcomm Technologies, Inc. (US), Huawei Technologies Co., Ltd. (China), SAMSUNG (South Korea), Apple Inc. (US), MediaTek Inc. (Taiwan), Intel Corporation (US), NVIDIA Corporation (US), IBM (US), Micron Technology, Inc. (US), Advanced Micro Devices, Inc. (US), etc.

The training functional segment of the edge AI hardware market will witness high growth rate during the forecast period.

Training AI models at the edge helps protect data privacy by keeping sensitive information on-device and reducing the need to send raw data to central servers for training. Localizing training data complies with regulatory requirements and increases user trust in AI-powered edge devices.

The edge AI hardware market, which consumes less than 1W of power, is expected to register the highest growth rate during the forecast period.

Edge devices that run on battery power or in resource-constrained environments require energy-efficient AI hardware to extend battery life and optimize power consumption. Edge AI hardware that consumes less than 1W of power enables continuous operation without consuming significant power resources. For battery-powered devices such as wearables and wireless sensors, low power consumption is essential to operate for long periods on a single charge. In addition, low power consumption reduces heat generation, simplifying thermal management in small edge devices.

The United States is expected to hold the largest market size in North America during the forecast period.

The United States accounted for the largest share of the North American edge AI hardware market in 2023 and is expected to continue to do so during the forecast period. The region is home to major players such as Qualcomm Technologies, Inc. (US), Apple Inc. (US), Intel Corporation (US), and NVIDIA Corporation (US), driving the market. The United States is a major market for AI application processors due to the high demand for advanced products such as smartphones, smart home appliances, IoT devices, wearable electronics, and vehicles with high security features.

The story continues

This report provides insights into:

• The key drivers (rising demand for real-time data transfer in mission-critical applications), constraints (complexities involved in building edge networks), opportunities (optimizing edge AI hardware with generative AI workloads), and challenges (optimizing power consumption) of the Edge AI Hardware market are analyzed.

• Product Development/Innovation: Detailed insights into upcoming technologies, R&D activities, new product and service launches in the Edge AI Hardware market.

• Market Development: Comprehensive information on the lucrative market. The report analyzes the Edge AI Hardware market across different regions.

• Market Diversification: Comprehensive information on new products and services, untapped regions, recent developments, and investments in the Edge AI Hardware market.

• Competitive Assessment: Detailed assessment of the market share, growth strategies, services, and offerings of key players such as Qualcomm Technologies, Inc. (US), Huawei Technologies Co., Ltd. (China), SAMSUNG (South Korea), Apple Inc. (US), and MediaTek Inc. (Taiwan) in the Edge AI Hardware market.

Key attributes:

Featured Companies

• Qualcomm Technologies, Inc.

• Huawei Technologies Co., Ltd.

• Samsung

• Apple.

• MediaTek Inc.

• Intel Corporation

• NVIDIA Corporation

• IBM

• Micron Technology, Inc.

• Advanced Micro Devices

• Meta

• Tesla

• Google

• Microsoft

• Imagination Technologies

• Cambricon

• Ten Torrent

• Blaze

• General Vision Co., Ltd.

• mythology

• Zero ASIC Co., Ltd.

• Applied Brain Research, Inc.

• Horizon Robotics

• CEVA Corporation

• Graphcore

• Sanbanova Systems, Inc.

• Hi-Ro

• Verify Security, Inc.

For more information on this report, please visit: https://www.researchandmarkets.com/r/twsvre

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