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COVID-19 Impact on the Global Edge AI Hardware Market : Edge AI Hardware Market is expected to grow at a CAGR of 17.7%

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COVID-19 Impact on the Global Edge AI Hardware Market : Edge AI Hardware Market is expected to grow at a CAGR of 17.7%

September 21
13:55 2021
COVID-19 Impact on the Global Edge AI Hardware Market : Edge AI Hardware Market is expected to grow at a CAGR of 17.7%
Edge AI Hardware Market
[236 Pages] Edge AI Hardware Market categrizes the Global market by device, Processor (CPU, GPU, and ASICs), End User, Function, Power (Less Than 1W, 1-3 W, 3-5 W, 5-10W and more than 10W) and Region. COVID-19 Impact on Edge AI Hardware Industry.

According to a research report Edge AI Hardware Market with COVID-19 Impact Analysis device, Processor (CPU, GPU, and ASICs), End User, Function (Training and Inference), Power (Less Than 1W, 1-3 W, 3-5 W, 5-10W and more than 10W) and Region – Global Forecast to 2026″ published by MarketsandMarkets, The edge AI hardware market is projected to grow from 920 million units in 2021 to 2,080 million units by 2026; it is expected to grow at a CAGR of 17.7% from 2021 to 2026. The key factors contributing to the growth of the market include rowth in demand for low latency and real-time processing on edge devices, mergence of AI coprocessors for edge computing, reduction in data storage and operations cost, ncrease in enterprise workloads on the cloud and apid growth in the number of intelligent applications.

• Informational PDF Brochure :-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=158498281

Browse 103 market data Tables and 56 Figures spread through 236 Pages and in-depth TOC on “Edge AI Hardware Market – Global Forecast to 2026”View detailed Table of Content herehttps://www.marketsandmarkets.com/Market-Reports/edge-ai-hardware-market-158498281.html

COVID-19 Impact on the Global Edge AI Hardware Market

Edge AI Hardware Market

The edge AI hardware market has witnessed significant growth. The growth of this market is mainly driven by the growing demand for low latency and real-time processing on edge devices, the emergence of AI coprocessors for edge computing, reduction in data storage and operation costs and increasing enterprise workloads on the cloud. The key factors contributing to the growth of the market include growth in demand for low latency and real-time processing on edge devices, emergence of AI coprocessors for edge computing, reduction in data storage and operations cost, Increase in enterprise workloads on the cloud and rapid growth in the number of intelligent applications.

Smartphones to hold the largest market share during the forecast period in the edge AI hardware market

In terms of volume, smartphones accounted for the largest share of nearly 75% of the edge AI hardware market for devices in 2020. The increasing demand for smartphones could drive the growth of the edge AI hardware market during the forecast period. Edge AI offers added capabilities to smartphones in terms of imaging and photography, power efficiency, and security.

Use of edge AI hardware among consumer electronics is expected to witness the largest share during the period 2021 and 2026

The consumer electronics segment holds a major share in terms of volume. This is due to the rising consumer spending and demand for consumer electronics. The demand for smartphones, smart wearables, and other devices is witnessing strong growth. Moreover, the innovation and development of new use cases for edge AI could lead to the high growth of consumer electronics in the edge AI hardware market. Several opportunitie such as Dedicated AI processors for on-device image analytics, Growth in demand for edge computing in IoT, Emergence of the 5G network to bring IT and telecom together lies in front of the players in the edge AI hardware market.

APAC to grow at the largest CAGR in edge AI hardware market during the forecast period

In APAC, China is the largest market for artificial intelligence, followed by Japan; this makes the region an attractive market for edge AI hardware applications. The presence of a large number of manufacturing companies, along with the strong presence of automobile and electronics and semiconductor companies, in China and Japan drives the growth of the edge AI hardware market in APAC. Applications such as smartphones, industrial robots, and automotive have huge potential. With the growing penetration of smartphones in China, Japan, India, and South Korea, the adoption of AI processor-enabled smartphones in APAC is expected to increase in the coming years. APAC is also one of the largest markets for industrial robots, surveillance cameras, and wearable devices, which are integrated with vision processing units to accelerate AI tasks.

The report profiles key players such as Apple (US), Intel (US), NVIDIA (US), Qualcomm Technologies (US), Huawei Technologies (China), Samsung Electronics (South Korea), IBM (US), Micron Technology (US), Xilinx (US), Google (US), Microsoft (US) and AMD (US).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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