New York, USA, Nov. 29, 2021 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global edge AI processor market is expected to garner a revenue of $8,059.7 million by 2028, growing exponentially at a CAGR of 16.5% during the forecast period 2021-2028. The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market such as growth factors, challenges, restraints and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
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Dynamics of the Market
- Drivers: Increasing application of AI-based vision processing units (VPU) helps drones to reduce the risk of man-made or natural disasters or accidents is expected to drive the growth of the market during the forecast period. In addition, increasing adoption of computational imaging and visual awareness applications in smart phones is further expected to bolster the growth of the edge AI processor market during the forecast period.
- Restraints: Lack of skilled professionals in this sector is expected to hinder the growth of the market during the forecast period.
- Opportunities: Surging demand for consumer electronics among people across the globe is expected to create immense opportunities for the growth of the market during the forecast period.
COVID-19 Impact on the Edge AI Processor Market
The outbreak of coronavirus has had a positive impact on the growth of the global edge AI processor market, owing to the prevalence of lockdowns in various countries across the globe. Increasing prevalence of remote asset maintenance & monitoring, plant automation, apart from remote working is among organizations increased the demand for edge AI processors. In addition, increasing shift towards edge AI among various pharmaceutical companies and hospitals across the globe further increased the demand for edge AI processors.
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Segments of the Market
The report has divided the edge AI processor market into various segments based on type, device type, end-use and region.
- Type: Central Processing Unit Sub-segment to be Most Profitable
The central processing unit sub-segment is expected to generate a revenue of $3,830.30 million during the forecast period. Significant integrations like that of field programmable gate array and CPUs for high performance supercomputing is expected to drive the growth of the sub-segment during the forecast period.
- Device Type: Consumer Devices Sub-segment to be Most Beneficial
The consumer devices sub-segment is expected to generate a revenue of $5,936.90 million during the forecast period. Increasing application of edge AI in smart speakers, drones, robots, smart watches, gaming consoles, VR headsets, and others are expected to bolster the growth of the Edge AI processor market sub-segment during the forecast period.
Strategic Partnerships and Product Launches by Market Players such as Kneron, Kontron, and Others to Foster the Growth of the Edge AI Processor Market - Analyst Review by Research Dive
- End-Use: Consumer Electronics Sub-segment to be Most Lucrative
The consumer electronics sub-segment is expected to generate a revenue of $2,081.00 million during the forecast period. Increase in the standard of living among people across the globe and their extensive expenditure on smart phones, smart watches, and other are expected to accelerate the growth of the sub-segment during the forecast period.
- Region: North America Region Expected to Dominate the Market
The North America region is expected to generate a revenue of $3,122.3 million during the forecast period. Extensive adoption of adoption of industrial automation and robotics in the manufacturing sector in this region is expected to stimulate the growth of the market. In addition, presence of prominent players of the market in this region is further expected to accelerate the growth of the regional edge AI processor market during the forecast period.
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Prominent Key Players of the Edge AI Processor Market
- NVIDIA Corporation
- Intel Corporation
- Alphabet Inc.
- Apple Inc.
- Arm Limited
- Advanced Micro Devices, Inc.
- Qualcomm Technologies Inc.
- Mythic
- Samsung Electronics Co. Ltd.
- HiSilicon(Shanghai) Technologies CO LIMITED.
These players are working on developing strategies such as product development, merger and acquisition, partnerships and collaborations to sustain the market growth. Inquire and Get Quick Access to Top Companies Development Strategies Summary Report
For instance, in May 2021, STMicroelectronics, a global semiconductor leader serving customers across the spectrum of electronics applications, acquired Cartesiam, an innovative edge AI software company specializing in artificial intelligence (AI) development tools, in order to optimize STMicroelectronics’ AI strategy and bolster its technology portfolio to address the full spectrum of embedded machine-learning needs.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
Porter’s Five Forces Analysis for the Global Edge AI Processor Market
- Bargaining Power of Suppliers: In the edge AI processor market, there are many players. There is also high demand for edge AI processors from various countries in order to reduce the complexity and risk of IT infrastructure.
Thus, the bargaining power suppliers is low. - Bargaining Power of Buyers: The bargaining power of the buyers is high owing to the high cost of the technologies limiting the number of buyers to utilize it in different applications.
Thus, the bargaining power of the buyers is high. - Threat of New Entrants: All major players in the edge AI processor market offer advanced options to companies entering this market.
Thus, the threat of the new entrants is low. - Threat of Substitutes: A significant threat of substitutes arises from the entry of businesses with technologically enhanced solutions.
Thus, the threat of substitutes is high. - Competitive Rivalry in the Market: The competitive rivalry among industry leaders is low, owing to the large number of players in the edge AI processor industry.
Therefore, competitive rivalry in the market is low.
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