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Edge AI Processor Market Report

RA08514

Edge AI Processor Market by Type (Central Processing Unit (CPU), Graphics Processing Unit (GPU), and Application Specific Integrated Circuit (ASIC)), Device Type (Consumer Devices and Enterprise Devices), End-use (Automotive & Transportation, Healthcare, Consumer Electronics, Retail & Ecommerce, Manufacturing, and Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028

COVID-19

pandemic has shown to have an enormous impact on most
industries.

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Impact of covid-19 on Edge AI Processor Market

Edge AI Processor Market Analysis

The global edge AI processor market is anticipated to garner $8,059.7 million in the 2021–2028 timeframe, growing from $2,400.0 million in 2020, at a healthy CAGR 16.5%.

Market Synopsis

The market for edge AI processor is primarily driven by technical advancements, acquisitions, and collaborations.

Lack of skilled professional can hinder the growth of the market.

According to the regional analysis of the market, the Asia-Pacific edge AI processor market is anticipated to grow at a CAGR of 17.3, by generating a revenue of $2603.3 million during the review period.

Edge AI Processor Overview

Edge AI is a hybrid of artificial intelligence and edge computing. Locally, AI algorithms are processed, either on the device itself or on a server nearby. AI processors are specialized chips that combine artificial intelligence (AI) and machine learning to make mobile devices smart enough to mimic the human brain. Deep learning AI workloads are optimized with AI chips. Rising demand and adoption of artificial intelligence products and services are creating lucrative growth opportunities in the edge AI processor market.

COVID-19 Impact on Edge AI Processor Market

COVID-19's impact on businesses is redefining business models. The new coronavirus has an impact on every organization. Organizations are attempting to restructure their supply chains in order to create a safe working environment. Organizations all over the world are implementing appropriate measures to limit pandemic risks, such as remote working capabilities, remote asset maintenance & monitoring, plant automation, and tele-health. The transition from computers to the cloud to the edge has proven to be quite beneficial to the healthcare industry. Many hospitals and pharmaceutical companies have begun to embrace edge AI. Despite the fact that the technology is not new, research indicates that there will be numerous ways for the healthcare sector to incorporate edge IoT and Edge AI into their daily operations in the coming years. The healthcare sector is projected to have a significant beneficial influence, as companies realize the value of edge AI in combatting the virus's effects. As a result, financing and research to keep organizations safe and secure across the value chain has expanded. As countries gradually emerge from lockdown, the industrial and communications industries are reviewing the situation.

Increasing Use of On-device AI Processors for Image Analysis is one of the Major Factors of the Growth of the Market

AI mobile processors power computational imaging applications in drones, wearable electronics, robots, and self-driving cars. The use of AI-based vision processing units (VPU) can assist drones in making better decisions and reducing the risk of accidents, which will contribute to the growing demand for industrial and personal drones. Computational imaging and visual awareness applications improve mobile devices by replacing complex optics with simpler lens assemblies and multiple apertures; combining images captured by heterogeneous sensors such as infrared (IR) and depth sensors RGB (red, green, blue); and extracting contextual metadata from still images and video streams. These factors enable the use of VPUs in mobile handsets, tablets, wearable devices, and personal robots for a wide range of new application areas and use cases (previously limited to desktops and workstations). VPU-enabled surveillance cameras enable real-time data processing in cameras rather than the cloud, lowering the risk of data hacking and enabling faster processing.

To know more about global edge AI processor market drivers, get in touch with our analysts here.

 Shortage of Skilled Professionals Can Hinder the Growth of the Market

Although the fields of AI and machine learning are progressing, there is still a significant lack of diversity in the industry in terms of education, gender, ethnicity, experience, and other relevant parameters.

Growing Electronics Industry to Fuel the Growth of the Market

Artificial intelligence (AI) is becoming more widely used; recent improvements in education, healthcare, marketing, telecommunications, transportation, consumer electronics, and a variety of other fields all have AI as a key. The value that AI solutions bring to customers can be used to gauge their success in the consumer electronic (CE) market. For example, an automatic recommendation of the greatest music playlist depending on the consumer's current mood can help businesses add value to their offers and boost their chances of keeping customers. Using this type of notion in specific goods can help a CE company stay ahead of the pack and capture a sizable market share. Intel and Udacity launched their new Intel® Edge AI for IoT Developers Nanodegree programme in April 2020, which would train developers in deep learning and computer vision. The global edge computing industry is expected to reach $1.12 trillion by 2023, according to Gartner.

To know more about global edge AI processor market opportunities, get in touch with our analysts here.

Edge AI Processor Market
By Type

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Based on type, the market has been divided into Central Processing Unit (CPU), graphics processing unit (GPU), and application specific integrated circuit (ASIC). Central processing unit sub-segment accounted for the highest revenue share in 2020 and application specific integrated circuit (ASIC) sub-segment is predicted to show the fastest growth during the forecast period. Download PDF Sample

Source: Research Dive Analysis

The central processing unit sub-segment is anticipated to have a dominant market share and generate a revenue of $3,830.30 million by 2028, growing from $1,183.90 million in 2020. Increased IoT adoption is expected to connect billions of new devices, necessitating greater computing efficiencies and speed. Integrations of field programmable gate array (FPGAs) and CPUs for high performance supercomputing or computing applications are also expected to fuel the PC processor market in the near future

The application specific integrated circuit sub-segment of the global edge AI processor market is anticipated to have the fastest growth and surpass $1339.000 million by 2028, growing from $369.8 million in 2020, with CAGR of 12.9%. The application of ASIC can be seen most prominently in consumer electronics. It has a long battery life and a high bandwidth, which allows electronic equipment to run more efficiently for a longer period of time. The rising demand for smartphones, smart watches, smart machines, and other connected devices is expected to propel the ASIC market forward. Similarly, it is seeing widespread applications in technologies such as IoT devices, cloud computing, data analytics, and block chain, among others, where data transfer speeds fast are critical.

Edge AI Processor Market
By Device Type

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Based on device type, the analysis has been divided into consumer devices and Enterprise Devices. Out of these, consumer devices sub-segment is predicted to be the most dominant and Enterprise Devices anticipated to show the fastest growth during the forecast period.

Source: Research Dive Analysis

The consumer devices sub-segment of the global edge AI processor market size is anticipated to have a dominant market share and surpass $5,936.90 million by 2028, with an increase from $1,789.20 million in 2020. Surveillance cameras, smart speakers, wearables, gaming consoles, AR-VR headsets, drones, and home automation robots, all use edge AI. The demand for the consumer devices edge AI processor will grow rapidly owing to the growing importance of home automation and consumer devices among device manufacturers as 5G networks and edge AI hardware advance, expanding the market for AI-enabled devices.

The enterprise devices type sub-segment of the global edge AI processor market share is anticipated to have a fastest growing market share and surpass $2,122.80 million by 2028, with an increase from $610.8 million in 2020. According to ABI Research, the market for edge AI chips will surpass the market for cloud architectures, reaching $12.2 billion versus $11.1 billion for the cloud. The demand for business IoT has emerged as the capabilities of connected things at the edge have grown. Intelligent technologies are being used.

Edge AI Processor Market
By End-use

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Based on end-use, the sub-segment is further automotive & transportation, healthcare, Consumer Electronics, retail & ecommerce, manufacturing, and others. Among these, Consumer Electronics sub-segment is predicted to be the most dominant sub-segment and healthcare sub-segment is anticipated to have the fastest growth during the forecast period.

Source: Research Dive Analysis

The consumer electronics sub-segment of the global edge AI processor market is anticipated to have a dominant market share and surpass $2,081.00 million by 2028, with an increase from $647.9 million in 2020. Consumer electronics hold a major share of the edge AI processor market in terms of volume. This is because consumer spending and demand for consumer electronics are increasing. Smartphones, smart wearables, and other devices are becoming increasingly popular. Furthermore, the development of new use cases for edge AI could lead to rapid growth in the consumer electronics sub-segment of the edge AI processor market.

The healthcare sub-segment of the global edge AI processor market is anticipated to have the fastest growth and surpass $781.8 million by 2028, with an increase from $214.6 million in 2020, with the CAGR 13.4%. Edge computing and analytics will only grow in importance as they provide new opportunities to increase operational, clinical, and financial value across the care continuum. The edge AI processor market demand will grow due to the growing number of medical devices being introduced into healthcare sector. These include everything from tablets and wearables to health monitors and AI-powered imaging systems.

Edge AI Processor Market
By Region

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The edge AI processor market share was investigated across North America, Europe, Asia-Pacific, and LAMEA.

Source: Research Dive Analysis

The Market for Edge AI Processor in North America to be the Most Dominant

The North America edge AI processor market accounted $944.6 million in 2020 and is projected to register a revenue of $3,122.3 million by 2028. Because of the widespread adoption of industrial automation and robotics in the manufacturing sector, the North American AI chipsets market is gaining traction. Several regional manufacturing industries are focusing on integrating industrial robots and robotic arms into plant facilities in order to increase production while decreasing reliance on labor. AI chipsets are required for robotic process automation, speech recognition, and computer vision applications in this automated machinery. According to the World Robotics 2019 report, North America accounted for 55,212 industrial robot installations in 2018, representing a 20% year-on-year increase. A significant increase in industrial robot adoption in North America will create new growth opportunities in the edge AI processor market.

The Market for Edge AI Processor in Asia-Pacific to be the Most Lucrative

The Asia-Pacific edge AI processor market accounted $ 735.1 million in 2020 and is projected to register a revenue of $2,603.3 million by 2028. According to pricewaterhouse Coopers (PwC), a multinational network of professional services firms estimates, the broad field of artificial intelligence will contribute up to USD15.7 trillion to the global economy by 2030. AI is quickly becoming central to the strategies of both public and private-sector organizations across the Asia-Pacific region. Organizations in the APAC region have adopted edge artificial intelligence emerging technologies, and they expect their competitiveness to double.

Competitive Scenario in the Global Edge AI Processor Market

Product advancements, innovations, and business expansion are common strategies followed by major market players.

Competitive Scenario in the Global Edge AI Processor Market

Source: Research Dive Analysis

Some of the leading edge AI processor market players are Intel Corporation, Advanced Micro Devices, Inc., Alphabet Inc.; Intel Corporation, Qualcomm Technologies, Inc., Apple Inc, Mythic; Ltd., Arm Limited, Samsung Electronics Co., Ltd., NVIDIA Corporation, and HiSilicon (Shanghai) Technologies CO LIMITED.

Porter’s Five Forces Analysis for the Global Edge AI Processor Market:

  • Bargaining Power of Suppliers: There are many suppliers in the edge AI processor market. Also, there is high demand for edge AI processor from various countries in order to reduce the complexity and risk in IT infrastructure.
    Thus, the bargaining power suppliers is low.
  • Bargaining Power of Buyers: Buyers have high bargaining power owing to high cost associated with the edge AI processor leading to low number of buyers of advanced processor.
    Thus, the bargaining power of the buyers is high.
  • Threat of New Entrants: The companies entering edge AI processor market have to deal with the advanced options available from all the major players. 
    Thus, the threat of the new entrants is low.
  • Threat of Substitutes: Due to the entry of businesses with technologically enhanced platforms and lower cost extrinsic, the threat of substitutes is considerable.
    Thus, the threat of substitutes is high.
  • Competitive Rivalry in the Market: The competitive rivalry among industry leaders is low mainly because the high number of players operating in edge AI processor industry.
    Therefore, competitive rivalry in the market is low.

Aspect

Particulars

  Historical Market Estimations

  2019-2021

  Base Year for Market Estimation

  2020

  Forecast Timeline for Market Projection

  2021-2028

  Geographical Scope

  North America, Europe, Asia-Pacific, LAMEA

  Segmentation by Type

  • Central Processing Unit (CPU)
  • Graphics Processing Unit (GPU)
  • Application Specific Integrated Circuit (ASIC)

  Segmentation by Device Type

  • Consumer Devices
  • Enterprise Devices

  Segmentation by End-use

  • Automotive & Transportation
  • Healthcare
  • Consumer Electronics
  • Retail & Ecommerce
  • Manufacturing
  • Others

  Key Companies Profiled

  • Intel Corporation
  • Advanced Micro Devices, Inc.
  • Alphabet Inc.
  • Qualcomm Technologies, Inc.
  • Apple Inc,
  • Mythic
  • Arm Limited
  • Samsung Electronics Co., Ltd.
  • NVIDIA Corporation
  • HiSilicon(Shanghai) Technologies CO LIMITED.

Frequently Asked Questions
 

A. The size of the global edge AI processor market was over $2,400.0 million in 2020 and is projected to reach $ 8,059.7 million by 2028.

A. Intel Corporation, Advanced Micro Devices, Inc., Alphabet Inc Qualcomm Technologies, Inc., and Apple Inc, are some of the major players present in the market.

A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.

A. The growth rate of the Asia-Pacific edge AI processor market is 17.3%.

A. Product innovations, technological advancements, and business expansions are the key strategies opted by the operating companies in this market.

A. Edge computing is the starting point for edge AI. Edge computing, also known as edge processing, is a network technique that places servers close to devices. This reduces the processing strain on the system and eliminates data transmission delays. These operations take place at the edge, or the location where the sensor or device creates the data.

A. Edge AI Hardware is a collection of devices and equipment for processing and powering artificial intelligence-based robots and devices. These devices and equipment are used to integrate and improve artificial intelligence device processing by processing data in the hardware.

A. AI processors are specialised chips that combine artificial intelligence (AI) and machine learning to make your mobile devices smart enough to mimic the human brain. Deep learning AI workloads are optimised with AI chips.

A. Edge ML is a method of lowering reliance on Cloud networks by allowing Smart Devices to process data locally utilizing machine and deep learning techniques. The term "edge" refers to deep- and machine-learning algorithms that process data at the device or local level.

A. Intel, NVIDIA, Qualcomm Technologies, Huawei Technologies, and AMD are some of the key players in the edge AI hardware market.

1.Research Methodology

1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters

1.4.1.Assumptions
1.4.2.Forecast parameters

1.5.Data sources

1.5.1.Primary
1.5.2.Secondary

2.Executive Summary

2.1.360° summary
2.2.By type trends
2.3.By Device type trends 
2.4.By end-user trends

3.Market overview

3.1.Market segmentation & definitions
3.2.Key takeaways

3.2.1.Top investment pockets
3.2.2.Top winning strategies

3.3.Porter’s five forces analysis

3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market

3.4.Market dynamics

3.4.1.Drivers
3.4.2.Restraints
3.4.3.Opportunities

3.5.End Use landscape
3.6.Regulatory landscape
3.7.Patent landscape
3.8.Strategic overview

4.Edge Ai Processor Market, by Type

4.1.Central Processing Unit (CPU)

4.1.1.Market size and forecast, by region, 2020-2028
4.1.2.Comparative market share analysis, 2020 & 2028

4.2.Graphics Processing Unit (GPU)

4.2.1.Market size and forecast, by region, 2020-2028
4.2.2.Comparative market share analysis, 2020 & 2028
4.3.Application Specific Integrated Circuit (ASIC)

4.3.1.Market size and forecast, by region, 2020-2028

4.3.2.Comparative market share analysis, 2020 & 2028

5.Edge Ai Processor Market, by Device Type

5.1.Consumer Devices

5.1.1.Market size and forecast, by region, 2020-2028
5.1.2.Comparative market share analysis, 2020 & 2028

5.2.Enterprise Devices

5.2.1.Market size and forecast, by region, 2020-2028
5.2.2.Comparative market share analysis, 2020 & 2028

6.Edge Ai Processor Market, by End Use

6.1.Automotive and Transportation 

6.1.1.Others Market size and forecast, by region, 2020-2028
6.1.2.Comparative market share analysis, 2020 & 2028

6.2.Healthcare

6.2.1.Market size and forecast, by region, 2020-2028
6.2.2.Comparative market share analysis, 2020 & 2028

6.3.Consumer Electronics

6.3.1.Market size and forecast, by region, 2020-2028
6.3.2.Comparative market share analysis, 2020 & 2028

6.4.Retail and Ecommerce 

6.4.1.Market size and forecast, by region, 2020-2028
6.4.2.Comparative market share analysis, 2020 & 2028

6.5. Manufacturing 

6.5.1.Market size and forecast, by region, 2020-2028
6.5.2.Comparative market share analysis, 2020 & 2028

6.6.Others

6.6.1.Market size and forecast, by region, 2020-2028
6.6.2.Comparative market share analysis, 2020 & 2028

7.Edge Ai Processor Market, by Region

7.1.North America

7.1.1.Market size and forecast, by Type, 2020-2028
7.1.2.Market size and forecast, by Device Type, 2020-2028
7.1.3.Market size and forecast, by End Use, 2020-2028
7.1.4.Market size and forecast, by Country, 2020-2028
7.1.5.Comparative market share analysis, 2020 & 2028

7.1.6.U.S.

7.1.6.1.Market size and forecast, by Type, 2020-2028
7.1.6.2.Market size and forecast, by Device Type, 2020-2028
7.1.6.3.Market size and forecast, by End Use, 2020-2028

7.1.7.Canada

7.1.7.1.Market size and forecast, by Type, 2020-2028
7.1.7.2.Market size and forecast, by Device Type, 2020-2028
7.1.7.3.Market size and forecast, by End Use, 2020-2028

7.1.8.Mexico

7.1.8.1.Market size and forecast, by Type, 2020-2028
7.1.8.2.Market size and forecast, by Device Type, 2020-2028
7.1.8.3.Market size and forecast, by End Use, 2020-2028

7.2.Europe

7.2.1.Market size and forecast, by Type, 2020-2028
7.2.2.Market size and forecast, by Device Type, 2020-2028
7.2.3.Market size and forecast, by End Use, 2020-2028
7.2.4.Market size and forecast, by Country, 2020-2028
7.2.5.Comparative market share analysis, 2020 & 2028

7.2.6.Germany 

7.2.6.1.Market size and forecast, by Type, 2020-2028
7.2.6.2.Market size and forecast, by Device Type, 2020-2028
7.2.6.3.Market size and forecast, by End Use, 2020-2028

7.2.7.UK

7.2.7.1.Market size and forecast, by Type, 2020-2028
7.2.7.2.Market size and forecast, by Device Type, 2020-2028
7.2.7.3.Market size and forecast, by End Use, 2020-2028

7.2.8.France

7.2.8.1.Market size and forecast, by Type, 2020-2028
7.2.8.2.Market size and forecast, by Device Type, 2020-2028
7.2.8.3.Market size and forecast, by End Use, 2020-2028

7.2.9.Italy

7.2.9.1.Market size and forecast, by Type, 2020-2028
7.2.9.2.Market size and forecast, by Device Type, 2020-2028
7.2.9.3.Market size and forecast, by End Use, 2020-2028

7.2.10.Spain

7.2.10.1.Market size and forecast, by Type, 2020-2028
7.2.10.2.Market size and forecast, by Device Type, 2020-2028
7.2.10.3.Market size and forecast, by End Use, 2020-2028

7.2.11.Rest of Europe

7.2.11.1.Market size and forecast, by Type, 2020-2028
7.2.11.2.Market size and forecast, by Device Type, 2020-2028
7.2.11.3.Market size and forecast, by End Use, 2020-2028

7.3.Asia-Pacific

7.3.1.Market size and forecast, by Type, 2020-2028
7.3.2.Market size and forecast, by Device Type, 2020-2028
7.3.3.Market size and forecast, by End Use, 2020-2028
7.3.4.Market size and forecast, by country, 2020-2028
7.3.5.Comparative market share analysis, 2020 & 2028

7.3.6.China

7.3.6.1.Market size and forecast, by Type, 2020-2028
7.3.6.2.Market size and forecast, by Device Type, 2020-2028
7.3.6.3.Market size and forecast, by End Use, 2020-2028

7.3.7.Japan 

7.3.7.1.Market size and forecast, by Type, 2020-2028
7.3.7.2.Market size and forecast, by Device Type, 2020-2028
7.3.7.3.Market size and forecast, by End Use, 2020-2028

7.3.8.India 

7.3.8.1.Market size and forecast, by Type, 2020-2028
7.3.8.2.Market size and forecast, by Device Type, 2020-2028
7.3.8.3.Market size and forecast, by End Use, 2020-2028

7.3.9.South Korea

7.3.9.1.Market size and forecast, by Type, 2020-2028
7.3.9.2.Market size and forecast, by Device Type, 2020-2028
7.3.9.3.Market size and forecast, by End Use, 2020-2028

7.3.10.Australia 

7.3.10.1.Market size and forecast, by Type, 2020-2028
7.3.10.2.Market size and forecast, by Device Type, 2020-2028
7.3.10.3.Market size and forecast, by End Use, 2020-2028

7.3.11.Rest of Asia Pacific

7.3.11.1.Market size and forecast, by Type, 2020-2028
7.3.11.2.Market size and forecast, by Device Type, 2020-2028
7.3.11.3.Market size and forecast, by End Use, 2020-2028

7.4.LAMEA

7.4.1.Market size and forecast, by Type, 2020-2028
7.4.2.Market size and forecast, by Device Type, 2020-2028
7.4.3.Market size and forecast, by Device Type, 2020-2028
7.4.4.Market size and forecast, by End Use, 2020-2028

7.4.5.Latin America 

7.4.5.1.Market size and forecast, by Type, 2020-2028
7.4.5.2.Market size and forecast, by Device Type, 2020-2028
7.4.5.3.Market size and forecast, by End Use, 2020-2028

7.4.6.Middle East

7.4.6.1.Market size and forecast, by Type, 2020-2028
7.4.6.2.Market size and forecast, by Device Type, 2020-2028
7.4.6.3.Market size and forecast, by End Use, 2020-2028

7.4.7.Africa

7.4.7.1.Market size and forecast, by Type, 2020-2028
7.4.7.2.Market size and forecast, by Device Type, 2020-2028
7.4.7.3.Market size and forecast, by End Use, 2020-2028

8.Company profiles

8.1.Intel Corporation

8.1.1.Business overview
8.1.2.Financial performance
8.1.3.Product portfolio
8.1.4.Recent strategic moves & developments
8.1.5.SWOT analysis

8.2.Advanced Micro Devices, Inc.

8.2.1.Business overview
8.2.2.Financial performance
8.2.3.Product portfolio
8.2.4.Recent strategic moves & developments
8.2.5.SWOT analysis

8.3.Alphabet Inc.

8.3.1.Business overview
8.3.2.Financial performance
8.3.3.Product portfolio
8.3.4.Recent strategic moves & developments
8.3.5.SWOT analysis

8.4.Qualcomm Technologies, Inc.

8.4.1.Business overview
8.4.2.Financial performance
8.4.3.Product portfolio
8.4.4.Recent strategic moves & developments
8.4.5.SWOT analysis

8.5.Apple Inc

8.5.1.Business overview
8.5.2.Financial performance
8.5.3.Product portfolio
8.5.4.Recent strategic moves & developments
8.5.5.SWOT analysis

8.6.Mythic

8.6.1.Business overview
8.6.2.Financial performance
8.6.3.Product portfolio
8.6.4.Recent strategic moves & developments
8.6.5.SWOT analysis

8.7.Arm Limited

8.7.1.Business overview
8.7.2.Financial performance
8.7.3.Product portfolio
8.7.4.Recent strategic moves & developments
8.7.5.SWOT analysis

8.8.Samsung Electronics Co., Ltd

8.8.1.Business overview
8.8.2.Financial performance
8.8.3.Product portfolio
8.8.4.Recent strategic moves & developments
8.8.5.SWOT analysis

8.9.NVIDIA Corporation

8.9.1.Business overview
8.9.2.Financial performance
8.9.3.Product portfolio
8.9.4.Recent strategic moves & developments
8.9.5.SWOT analysis

8.10.HiSilicon(Shanghai) Technologies CO  LIMITED

8.10.1.Business overview
8.10.2.Financial performance
8.10.3.Product portfolio
8.10.4.Recent strategic moves & developments
8.10.5.SWOT analysis

Edge Al is an advanced type of device used to process and power artificial intelligence-based robots and devices. This equipment is used to improve and integrate artificial intelligence (AI) processing by data processing in the device itself. Edge AI processors are type of microprocessors which are specially designed to accelerate embedded AI applications on edge devices. These processors are required in modern devices, such as smartphones, smart speakers, laptops, self-driven cars, drones, robots, and video analytics devices like surveillance cameras.

The edge AI processor moves the workflow to the device that cuts the traveling time for the data via long routes, which is very helpful for companies to analyze the data based on real-time or in less time. Edge AI makes data processing secure and boosts decision-making, with trustworthy real-time performance. They ensure safety and efficiency in autonomous driving, telecommunications, manufacturing sites, and in public spaces, which is predicted to drive the growth of the edge AI processor market in the near future.

COVID-19 Impact on Edge AI Processor Market

The outbreak of COVID-19 across the globe has significantly impacted the global edge AI processor market growth. A high positive impact has been observed in the industrial vertical, as firms have started to realize the potential of edge AI chips in fighting the impact of COVID-19. Advanced technologies such as AI gain a robust grip on the industrial spectrum as the world becomes more interconnected. The coronavirus pandemic imposed new health and safety standards, changing how people interact with one another. The growing demand for touch-free experiences has fast-tracked the shift towards voice-based control, AI-powered systems, and other contactless user interfaces. All these factors are impacting the edge AI processor market during the pandemic period.

Edge AI Processor Market Trends and Developments

The companies operating in the global industry are adopting several growth strategies and business tactics such as partnerships, collaboration, business expansion, and product launches to obtain a leading position in the global industry, which is predicted to drive the global edge AI processor market growth in the upcoming years.

For instance, in May 2019, Kneron, a leading provider of full stack edge AI solutions, unveiled edge AI chip KL520 and 3D artificial intelligence solution with an idea to provide AI solutions for the smart surveillance, smart home, smartphones, drones, robots, and IoT devices.

In November 2021, Kontron, a leading provider of IoT/Embedded Computing Technology (ECT) worldwide, entered into a strategic technology partnership with Hailo, the leading AI chipmaker, to offer next generation AI edge inference solutions. Hailo-8 AI processor is an advanced edge AI processor that performs at 26 TOPS (tera-operations per second). The strategic partnership offers customers a new level of high-performance, accessible AI-edge application-ready platforms for an extensive range of market segments such as smart cities, Industry 4.0, smart retail and more.

Forecast Analysis of Global Market

The global edge AI processor market is projected to witness an exponential growth over the forecast period, owing to the swift growth in the electronics industry across the globe and technological advancements by key market players operating in the global market. Conversely, the shortage of skilled professionals is expected to hamper the market growth in the projected timeframe.

The growing usage of on-device AI processors for image analysis and the rising demand for industrial and personal drones are the significant factors and edge AI processor market trends estimated to bolster the growth of the global market in the coming future. According to a latest report published by Research Dive, the global edge AI processor market is expected to garner $8,059.7 million during the forecast period (2021-2028). Regionally, the North America edge AI processor market is estimated to observe lucrative growth by 2028, owing to the widespread adoption of robotics and industrial automation in the manufacturing sector.

The key players functioning in the global market include Intel Corporation, Alphabet Inc., Advanced Micro Devices, Inc., Intel Corporation, Apple Inc., Qualcomm Technologies, Inc., Mythic Ltd., Samsung Electronics Co., Ltd., Arm Limited, HiSilicon (Shanghai) Technologies CO LIMITED, and NVIDIA Corporation.

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