Global Edge AI Processor Market Predicted to Hit $9,566.30 Million, Growing at 16.0% CAGR from 2022 to 2030 [225-Pages] | Research Dive

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30 May, 2022, 12:45 GMT

Rising demand for edge AI processors in electronics products is fueling the global edge AI processor market growth. The COVID-19 pandemic has positively impacted the market. The North America region is likely to lead the market in the future.

NEW YORK, May 30, 2022 /PRNewswire/ -- Research Dive has added a new report to its offerings titled, "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, 2022–2030".

The global edge AI processor market is expected to garner $9,566.30 million by 2030, growing at a CAGR of 16.0% from 2022 to 2030. The report delivers comprehensive insights into the current condition and future prospective of the industry by meticulously examining market drivers and restraints, opportunities, major segments, and regions.

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Key Segment Findings of the Edge AI Processor Market:

The market is segmented based on type, device type, end-use, and region.

  • The central processing unit sub-segment of the type segment is estimated to witness accelerated growth in the estimated period. This growth is mainly because of the rising implementation of IoT technologies for connecting billions of new devices that require better computing competences and speed.
  • The consumer devices sub-segment of the device type segment is anticipated to observe highest growth and surpass $7,009.8 million in the estimated period. This growth is mainly because of the rising adoption of consumer devices such as surveillance cameras, smart speakers, wearable devices, gaming consoles, AR-VR headsets, drones, and home automation robots that need edge AI processors.
  • The consumer electronics sub-segment of the end-use segment is anticipated to observe leading growth and collect a revenue of $2,414.9 million in the estimated period. This growth is mainly because of the rising demand for consumer electronics including smart wearables, smartphones, and other devices worldwide. Moreover, as edge AI processors are widely used in consumer electronics products, this segment of the edge AI processor market is expected to rise with a 15.4% CAGR in the forecast period.
  • Among region, the North America edge AI processor market is projected to observe augmented growth and garner $3,688.80 million in the estimated period. The growth of this region market is mostly owing to the rising acceptance for industrial automation and robotics, which require edge AI processors, in the manufacturing industries in this region.

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Global Edge AI Processor Market Dynamics

There has been significant rise in the applications of Artificial Intelligence (AI) in medical, educational, communications, sales, infrastructure, electronics products, and various other sectors, which is boosting the demand for edge AI processors. This is the key factor fueling the growth of the global edge AI processor market. In addition, rapid evolution of the electronics sector, which is the major consumer of edge AI processors, is projected to open doors to innovative opportunities for the market growth in the projected period. However, limited acceptance for edge AI technologies in the emerging regions is projected to deter the market growth during the forecast period.

Impact of the COVID-19 Pandemic on the Edge AI Processor Market:

The COVID-19 pandemic has made a positive impact on the growth of the global edge AI processor market in 2020. In the pandemic period, several companies have implemented work from home model and are offering remote asset maintenance and monitoring, and applying automation in various processes to reduce the pandemic risks. As a result, several companies have adopted edge AI hardware, which is fueling the demand for edge AI processors. Also, various hospitals and pharmaceutical firms have started embracing edge AI technologies. All these factors are boosting the market growth amidst the pandemic period.

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Top Players of the Edge AI Processor Market

The major players of the global edge AI processor market are

  1. Intel Corporation
  2. Alphabet Inc.
  3. Qualcomm Technologies, Inc.
  4. Intel Corporation
  5. Apple Inc
  6. Mythic Ltd.
  7. Arm Limited
  8. NVIDIA Corporation
  9. HiSilicon (Shanghai) Technologies CO LIMITED.
  10. Advanced Micro Devices, Inc.
  11. Samsung Electronics Co., Ltd., and others.

Numerous business strategies, such as acquisitions, mergers, R&D activities, new product developments, and much more, are implemented by these players to attain a strong position in the global market. – Inquire here to get an Access for the Key Businesses Development Strategic Report

For instance, in March 2021, ArchiTek, a leading design-build company, launched AiOnIc®, one of the most compact, high-performing edge AI processor in the industry.

Moreover, the report offers other key details such as business tactics, financial performance, and product/service range of the leading players along with Porter's five forces analysis and SWOT analysis.

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