New York, USA, April 20, 2023 (GLOBE NEWSWIRE) -- According to Research Dive, the global edge AI processor market is estimated to generate a revenue of $9,566.30 million by 2030 and grow at CAGR of 16.0% over the forecast period (2022 to 2030). The comprehensive report provides a summary of the present market scenario comprising key aspects of the market, such as growth factors, lucrative growth opportunities, and restraining factors. Besides, the report provides all the global market trends, COVID-19 impact on the market, and market estimations making it easier, helpful, and useful for the new participants to understand the market.
Market Dynamics
As per analysts at Research Dive, with the increasing use of AI-based vision processing units (VPUs) to help drones in making better decisions and minimizing the risks of accidents, the edge AI processor market is predicted to observe striking growth over the estimated period from 2022 to 2030. Besides, the increasing demand for VPU-enabled surveillance cameras that help in real-time data processing and reduce the risk of data hacking, are the factors expected to bolster the growth of the market during the forecast timeframe. Moreover, the rising value of bringing AI-based solutions to customers in the consumer electronics industry is expected to foster the growth of the edge AI processor market over the analysis period. However, the lack of skilled professionals may hamper the growth of the market throughout the forecast period.
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COVID-19 Impact on the Edge AI Processor Market
Though the rise of the Covid-19 pandemic has devastated various other industries, it has had a positive impact on the edge AI processor market. To control the spontaneous spread of the deadly virus, many organizations all across the globe implemented appropriate measures, such as remote working capabilities, plant automation, telehealth facilities, and many more. This made companies realize the value of edge AI and edge IoT more effectively. In addition, the increasing demand for remote asset management and monitoring, and telemedicine facilities has inclined the growth of the market during the pandemic period.
Segments of the Market
The report has divided the edge AI processor market into a few 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 registered a revenue of $1,215.3 million in 2021 and is predicted to continue a steady growth during the analysis timeframe. The increasing demand for central processing units (CPUs) for high-performance supercomputing, reducing latency, and promoting immediate analytics with data security is expected to upsurge the growth of the edge AI processor market sub-segment over the forecast period.
Device Type: Consumer Devices Sub-segment to be Most Lucrative
The consumer devices sub-segment is expected to garner a revenue of $7,009.8 million and rise at a healthy CAGR of 15.8% during the analysis timeframe. This is mainly due to the rising importance of home automation & consumer devices among device manufacturers with the advent of edge AI hardware and 5G networks. Moreover, the growing use of IoT and smart technologies in automobiles and consumer devices are expected to propel the growth of the market sub-segment over the forecast period.
End-Use: Consumer Electronics Sub-Segment to be Most Productive
The consumer electronics sub-segment is projected to generate a revenue of $2,414.9 million throughout the estimated period. This is majorly due to the increasing demand for consumer electronics, such as smartphones, smart wearables, and many others. Furthermore, the rising importance of video surveillance systems in retail enterprises, banks, and financial institutes due to security breaches, unlawful access, and other criminal activities is expected to augment the growth of the market sub-segment over the analysis period.
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North America Region to be Most Dominant
The North America edge AI processor market is expected to generate a revenue of $3,688.80 million during the forecast timeframe and rise at a CAGR of 15.8% over the forecast period. This is mainly because of the increasing adoption of industrial automation in this region. In addition, the strong presence of US-based tech giants is expected to drive the regional growth of the market throughout the estimated period.
Prominent Market Players
Some of the top players of the global edge AI processor market are
- Intel Corporation
- Advanced Micro Devices Inc.
- Qualcomm Technologies Inc.
- Apple Inc
- Arm Limited
- Alphabet Inc.
- NVIDIA Corporation
- Samsung Electronics Co. Ltd.
- Mythic Ltd.
- HiSilicon (Shanghai) Technologies CO LIMITED
These players are applying various strategies to gain a competitive edge and strong hold in the global industry.
For instance, in February 2022, Intel Corporation, an American multinational corporation and technology company, launched its new processors named “Intel Xeon D processors”, which are the newest system-on-chip (SoC) processors by Intel that are built for the software-defined network and edge. These processors are designed with integrated AI and crypto acceleration to provide an enhanced experience for key networks, edge usages, and workloads.
More about Edge AI Processor Market:
- How Edge AI Processors are Tackling the Current Issues of Computing
- Product Launches and Strategic Partnerships by Market Players such as Kneron, Hailo, and Others to Foster the Growth of the Global Edge AI Processor Market
