The report “Edge AI Hardware Market by Device (Smartphones, Cameras, Robots, Automobile, Smart Speakers, Wearables, and Smart Mirror), Processor (CPU, GPU, ASIC and Others), Power Consumption, Process, End User Industry, and Region – Global Forecast to 2024” is now available on ResearchAndMarkets.com.
According to forecasts, the edge AI hardware market will record sales of 610 million units in 2019. By 2024, it may reach 1,559.3 million sales. During this period, the CAGR is estimated at 20.64%.
Important for the growth of the market are the increased demand for low latency and real-time processing in edge devices and the need for AI coprocessors for edge computing, as well as the increased demand for edge computing in IoT.
On the other side, there are also some constraints for market development, namely limited on‑device training and the small number of AI specialists. Energy consumption and size limitation also pose challenges for the edge AI hardware market.
The edge AI hardware market is segmented based on processors into CPU, GPU, ASIC, and others.
The ASIC processor offers high speed as it is dedicated to running only one specific application. The VPU is a class of processor that accelerates “machine vision tasks”. The IPU is specifically designed to support video and graphics processing functions.
The ASIC processors, which currently exist in the market, include Intel Movidius VPUs and the CEVA-XM4 imaging and computer vision processor.
“Regarding processors, CPUs are expected to have the largest market share by 2024».
In 2019, it is expected that 589 million CPUs will be sold. Sales may reach 1380 million by 2024. The CPU processor is the most widely used processor in smartphones, smart speakers and wearables.
There is also expected to be considerable market growth in the following regions: China, Japan, South Korea, Singapore, Malaysia, Thailand, India, Australia and New Zealand.
Among these regions, China is the largest artificial intelligence market, which makes it a fairly attractive market for edge AI hardware applications. In China and shortly after in Japan there is a huge number of manufacturing companies, and their products already occupy a large portion of the market.
