Edge AI Hardware Global Market Report 2023: Rise in IoT Applications Bolsters Growth


Dublin, May 15, 2023 (GLOBE NEWSWIRE) -- The "Edge AI Hardware Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.

The global edge AI hardware market is expected to grow from $5.55 billion in 2022 to $6.64 billion in 2023 at a compound annual growth rate (CAGR) of 19.6%. The edge AI hardware market is expected to grow to $13.53 billion in 2027 at a CAGR of 19.5%.

The rise in IoT applications is expected to boost the edge AI hardware market going forward. An IoT application is a group of services and programs that combine data from numerous IoT devices. IoT apps can gather data from throughout the factory floor and aggregate it to the network's edge, hence, a rise in IoT applications is expected to boost the edge AI hardware market.

For instance, according to the report published by Dataport, a Germany-based public-service provider, more than 10 billion IoT devices were in use in 2021. In 2030, it's predicted that there will be more than 25.4 billion active IoT devices. IoT devices connect to the internet 152,200 times per minute by 2025. Therefore, the rise in IoT applications is driving the growth of the edge AI hardware market.

Technologically advanced products have emerged as the key trend gaining popularity in the edge AI hardware market. Major companies operating in the edge AI market are developing advanced technologies to strengthen their position in the market.

For instance, in May 2022, Intel's Habana Labs, an Israel-based creator of AI processors, launched second-generation AI processors for training and inferencing. The unique feature of second-generation AI processors is to close a market gap by offering customers high-performance, high-efficiency deep learning to compute options for both training workloads and inference deployments in the data center. In addition, it also lowers the entry barrier to AI for businesses of all sizes, which is what makes it stand out from competing technology.

In June 2022, Qualcomm, a US-based semiconductors company, acquired Cellwize for an undisclosed amount. The acquisition of Cellwize's leading cloud-native, multi-vendor RAN automation and management platform with Qualcomm Technologies' industry-leading 5G RAN offerings are anticipated to provide leading RAN automation and management software solutions which will accelerate the development of the connected intelligent edge through the deployment of 5G private and public networks by reducing network deployment time and simplifying network management. Cellwize is a US-based telecommunications service provider enabling the networks of the future.

North America was the largest region in the edge AI hardware market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the edge AI hardware market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the edge AI hardware market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Markets Covered:

1) By Device Type: Smartphones; Cameras; Robots; Wearables; Smart Speaker; Other Device Types
2) By Component: Processor; Memory; Sensor; Other Components
3) By End User: Consumer Electronics; Smart Home; Automotive; Government; Aerospace and Defense; Healthcare; Industrial; Construction; Other End Users

Key Attributes:

Report AttributeDetails
No. of Pages250
Forecast Period2023 - 2027
Estimated Market Value (USD) in 2023$6.64 billion
Forecasted Market Value (USD) by 2027$13.53 billion
Compound Annual Growth Rate19.5%
Regions CoveredGlobal

Key Topics Covered:

1. Executive Summary

2. Edge AI Hardware Market Characteristics

3. Edge AI Hardware Market Trends And Strategies

4. Edge AI Hardware Market - Macro Economic Scenario

5. Edge AI Hardware Market Size And Growth

6. Edge AI Hardware Market Segmentation

7. Edge AI Hardware Market Regional And Country Analysis

A selection of companies mentioned in this report includes

  • Apple Inc.
  • MediaTek Inc.
  • Qualcomm Technologies Inc.
  • Huawei Technologies Co. Ltd.
  • Samsung Electronics Co. Ltd.
  • Intel Corporation
  • NVIDIA Corporation
  • International Business Machines Corporation
  • Google LLC
  • Microsoft Corporation
  • Advanced Micro Devices Inc.
  • Imagination Technologies Limited
  • General Vision Inc.
  • Adapteva Inc.
  • Arm Limited

For more information about this report visit https://www.researchandmarkets.com/r/6ncw55

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Global Edge AI Hardware Market