Edge AI Hardware Market Is Expected To Reach USD 1559.3 Billion by 2024

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", The edge AI hardware market is expected to register a shipment of 610 million units in 2019 and is likely to reach 1559.3 million units by 2024, at a CAGR of 20.64% during the forecast period. Major drivers for the market’s growth are growing demand for low latency and real-time processing on edge devices and emergence of AI coprocessors for edge computing. Further, underlying opportunities for the edge AI hardware market include growing demand for edge computing in IoT and dedicated AI processors for on-device image analytics. Major restraints for the market are limited on-device training and limited number of AI experts. Power consumption and size constraint pose major challenges to the edge AI hardware market.

Key Market Players

Intel Corporation (US), NVIDIA Corporation (US), Samsung Electronics Co., Ltd. (South Korea), Huawei Technologies Co., Ltd. (China), Google Inc. (US), MediaTek Inc. (Taiwan), Xilinx Inc. (US), Imagination Technologies Limited (UK), and Microsoft Corporation (US) are a few major players in the edge AI hardware market.

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Recent developments

• In November 2018, Intel launched Intel Neural Compute Stick 2 (Intel NCS 2) designed to build smarter AI algorithms and for prototyping computer vision at network edge. Based on the Intel Movidius Myriad X vision processing unit (VPU) and supported by the Intel Distribution of OpenVINO toolkit, Intel NCS 2 affordably boosts the development of deep neural networks inference applications while delivering a performance boost over the previous generation neural compute stick.
• In September 2018, Intel and Alibaba Cloud launched a Joint Edge Computing Platform that allows enterprises to develop customizable device-to-cloud IoT solutions for different edge computing scenarios, including industrial manufacturing, smart building, and smart community. The Joint Edge Computing Platform is an open architecture that integrates Intel software, hardware, and AI technologies with Alibaba Cloud’s latest IoT products. The platform utilizes computer vision and AI to convert data at the edge into business insights.
• In December 2017, NVIDIA introduced TITAN V, the world’s most powerful GPU for PC, driven by the world’s most advanced GPU architecture, NVIDIA Volta. TITAN V excels at computational processing for scientific simulation. Its 21.1 billion transistors deliver 110 teraflops of raw horsepower, 9 times that of its predecessor, and extreme energy efficiency.

Key questions addressed by report:

• What could be the potential industrial applications of the edge AI hardware market?
• What is the importance of the edge AI hardware market in the government sector?
• What are the drivers, challenges, restraints, and opportunities for the edge AI hardware market?
• What are the opportunities for the advancements in smartphones in the edge AI hardware market?
• Which regions will showcase the growth of the edge AI hardware market?

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Provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.