Dublin, June 05, 2024 (GLOBE NEWSWIRE) -- The "Global Edge AI Hardware Market by Device, Processor (CPU, GPU, and ASIC), Function (Training, Inference), Power Consumption (Less than 1 W, 1-3 W, 3-5 W, 5-10 W, and more than 10 W), Vertical and Geography - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The edge AI hardware market is projected to grow from USD 24.2 billion in 2024 and is expected to reach USD 54.7 billion by 2029, growing at a CAGR of 17.7% from 2024 to 2029
The report defines, describes, and forecasts the edge AI hardware market based on By Device, Power consumption, Processor, Function, Vertical and region. It provides detailed information regarding drivers, restraints, opportunities, and challenges influencing the growth of the edge AI hardware market. It also analyzes competitive developments such as product launches, acquisitions, expansions, and actions carried out by the key players to grow in the market.
Edge AI hardware enables data processing and analysis to be performed locally on edge devices, reducing the amount of raw data that needs to be transmitted and stored in the cloud. This localized processing minimizes the need for extensive cloud storage, thereby optimizing bandwidth and reducing latency.
The report profiles key players in the edge AI hardware market market with their respective market ranking analysis. Prominent players profiled in this 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), and Advanced Micro Devices, Inc. (US).
Training in the function segment of the edge AI hardware market to witness higher growth rate during the forecast period.
Training AI models at the edge helps preserve data privacy by keeping sensitive information on-device and reducing the need to transmit raw data to centralized servers for training. This localization of training data aligns with regulatory requirements and enhances user trust in AI-powered edge devices.
Market for edge AI hardware consuming less than 1W to witness highest growth rate during the forecast period.
Edge devices operating on battery power or in resource-constrained environments require energy-efficient AI hardware to extend battery life and optimize power consumption. Edge AI hardware consuming less than 1W enables continuous operation without draining significant power resources. For battery-powered devices like wearables or wireless sensors, low power consumption is essential for extended operation on a single charge. Moreover, lower power consumption reduces heat generation, simplifying thermal management in compact edge devices.
The US is expected to hold the largest market size in the North American region during the forecast period.
The US accounted for the largest share of the North American edge AI hardware market in 2023, and a similar trend is expected to be witnessed during the forecast period. The presence of major players in this region such as Qualcomm Technologies, Inc. (US), Apple Inc. (US), Intel Corporation (US), and NVIDIA Corporation (US), is driving the market. The US is a key market for AI application processors as the demand for smartphones, smart home appliances, and advanced products such as IoT devices, wearable electronics, and vehicles with high-security features is high in the country.
The report will provide insights into the following pointers:
- Analysis of key drivers (Growing demand for real-time data transmission in mission-critical applications), restraints (Associated complications in building edge networks), opportunities (Optimizing edge AI hardware with Generative AI workloads), and challenges (Optimization of power consumption) of the edge AI hardware market.
- Product development /Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the edge AI hardware market.
- Market Development: Comprehensive information about lucrative markets; the report analyses the edge AI hardware market across various regions.
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the edge AI hardware market.
- Competitive Assessment: In-depth assessment of market share, growth strategies, and services, offering of leading players like Qualcomm Technologies, Inc. (US), Huawei Technologies Co., Ltd. (China), SAMSUNG (South Korea), Apple Inc. (US), and MediaTek Inc. (Taiwan), among others in the edge AI hardware market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 249 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $24.2 Billion |
| Forecasted Market Value (USD) by 2029 | $54.7 Billion |
| Compound Annual Growth Rate | 17.7% |
| Regions Covered | Global |
Companies Featured
- Qualcomm Technologies, Inc.
- Huawei Technologies Co. Ltd.
- Samsung
- Apple Inc.
- MediaTek Inc.
- Intel Corporation
- NVIDIA Corporation
- IBM
- Micron Technology, Inc.
- Advanced Micro Devices, Inc.
- Meta
- Tesla
- Microsoft
- Imagination Technologies
- Cambricon
- Tenstorrent
- Blaize
- General Vision Inc.
- Mythic
- Zero ASIC Corporation
- Applied Brain Research, Inc.
- Horizon Robotics
- CEVA, Inc.
- Graphcore
- SambaNova Systems, Inc.
- Hailo
- Veridify Security Inc.
For more information about this report visit https://www.researchandmarkets.com/r/twsvre
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