Chicago, April 20, 2023 (GLOBE NEWSWIRE) -- Global Edge AI Hardware Market by Device, Processor(CPU, GPU, and ASIC), Function, Power Consumption( Less than 1 W, 1-3 W, 3-5 W, 5-10 W, and more than 10 W), Vertical and Geography - Global Forecast to 2027, 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.
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Smartphones to account for the largest market share of the edge AI hardware market by 2027
Smartphones accounted for the largest share of of the edge AI hardware market, in terms of volume, for devices in 2021The increasing demand for smartphones is expected to drive the growth of market during the forecast period. Edge AI offers added capabilities to smartphones in terms of imaging and photography, power efficiency, and security. The wearables segment is expected to witness the fastest growth rate during the forecast period. This high growth rate could be attributed to the rapid development of smart wearables. Wearables are becoming smarter, and the inclusion of AI and edge computing could further enhance their capabilities.
1–3 W power consumption to account for largest market share of the edge AI hardware market by 2027
Edge AI devices consuming 1–3 W of electricity are likely to lead the market during the forecast period. Smartphones are the major devices that consume 1–3 watts of electrical energy. As the demand for smartphones is increasing, the market for the 1–3 W segment is likely to witness significant growth during the forecast period.
Asia Pacific to have the largest market share in the edge AI hardware) market during the forecast period.
Asia Pacific is expected to witness the highest CAGR during the forecast period. In Asia Pacific, 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 Asia Pacific.
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Market Dynamics:
Opportunity: Emergence of 5G networks that bring IT and telecom together
The launch of 5G networks is bringing IT and telecommunications together to introduce new features for high-end applications and reduce network latency. The 5G network enables the establishment of data centers at edge modules, as well as implement industry-specific networks aided by virtualization and software-defined networking principles in a single environment. Critical AI applications, such as autonomous vehicles, industry automation, surgery, and robotics, demand ultra-low latency (less than a round trip delay of 1 millisecond). These low latency rates can be achieved by installing new hardware in air interfaces and deploying edge nodes. The emergence of 5G networks across different applications is expected to increase the volume of data transferred to data centers, thereby increasing the need for intermediary servers or edge networks.
Challenge: Designing efficient edge AI system
Edge AI devices such as smartphones, surveillance/security cameras, drones, and robots have on-device intelligence; hence, such devices can decide on the closest point of interaction with the user. However, edge AI devices face certain challenges related to power consumption and device size. Cloud-based AI offers advantages such as easier implementation, integration, and scaling, shifting the cost burden from capital to operational expenditure. Cloud-based AI also has the advantage of storing data centrally and off-premises. The size of a neural network is directly proportional to the demand for power, and an increase in size will lead to higher power consumption. The optimization of power consumption with the help of software for deep neural network models is a challenge. There is a need to focus on the joint design of algorithms and hardware to achieve high-performance and power-efficient on-device AI.
Leading Players in the Edge AI Hardware Market:
QUALCOMM TECHNOLOGIES
Qualcomm Technologies was founded in 1985 and reincorporated in 1991 in Delaware, US. It is one of the key players in the global semiconductor industry. The company designs and markets wireless telecommunication products and services used in mobile devices and other wireless products, such as network equipment and broadband gateway equipment. In addition to cellular devices, the company’s products are used in automotive, IoT (Internet of Things), data center, networking, and computing and machine learning applications.
Qualcomm Technologies operates through three reportable business segments: Qualcomm CDMA Technologies (QCT), Qualcomm Technology Licensing (QTL), and Qualcomm Strategic Initiatives (QSI). The QCT segment deals with the development and supply of CDMA, OFDMA, and other technology-related ICs, as well as system software that finds applications in networking, voice and data communication, multimedia, application processing, and GPS devices. The QTL segment deals with granting intellectual property rights and licenses. These rights are important in the manufacturing and selling of wireless products, such as CDMA 2000, CDMA TDD, WCDMA, and/or LTE and their derivatives. The QSI segment makes strategic investments focused on advancement in technologies. It also introduces new products and services for voice and data communication.
HUAWEI TECHNOLOGIES
Huawei Technologies is an information communication technology software and solution provider for many end users worldwide. In collaboration with industry leaders, the company offers telecommunication carrier network solutions that are intelligent, innovative, and secure. Huawei delivers computer, networking, and communication platforms to original equipment manufacturers (OEMs); original design manufacturers (ODMs); cloud and communication service providers; and industrial, communication, energy, and automobile equipment manufacturers. It operates through the following business segments: Carrier, Enterprise, Consumer, and Other Items. The Carrier segment offers telecommunication software and solutions related to network management, cloud, and data centers. Under the Enterprise business segment, the company provides a digital infrastructure with upcoming technologies, including IoT, big data, AI, cloud, and communication for the government, transportation, energy, and automotive sectors. Smart hardware such as phones, wearables, connected home devices, PCs, and services required by these devices are offered through the Consumer business segment.
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Recent Developments in Edge AI Hardware Market
- In June 2022, Qualcomm Technologies has announced the launch of the Qualcomm AI Stack portfolio, accelerating the company’s leadership position in artificial intelligence (AI) and Connected Intelligent Edge technologies. Qualcomm AI Stack is a comprehensive AI solution and will offer OEMs and developers various intelligent devices with broad AI software access and compatibility.
- In March 2022, Intel’s Habana Labs has launched second-generation AI processors for training and inferencing. In March 2022, Amphenol Corporation has expanded its SURLOK Plus Series to include 8 mm and 10.3 mm right-angle connectors, with a voltage range of 1500 VDC to meet energy storage and high-power connection and transfer requirements.
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