Edge AI Processor Market Set to Reach $9.6 Billion by 2030, with Remarkable 16% CAGR | Industry Dynamics

North America held the major share in 2021, garnering nearly two-thirds of the global Edge AI processor market revenue.

WILMINGTON, DELAWARE , UNITED STATES, February 21, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, Edge AI Processor Market Analysis Report by Type (Central Processing Unit (CPU), Graphics Processing Unit (GPU), Application Specific Integrated Circuit (ASIC)), by Device Type (Consumer Devices, Enterprise Devices), by End Use (Automotive and Transportation, Healthcare, Consumer Electronics, Retail and Ecommerce, Manufacturing, Others): Global Opportunity Analysis and Industry Forecast, 2021-2030

The edge AI processor market was valued at $2.5 billion in 2021, and is estimated to reach $9.6 billion by 2030, growing at a CAGR of 16% from 2022 to 2030. The growth of the Edge AI processor market is attributed to several factors, including the increasing adoption of electronic devices and the numerous benefits offered by Edge AI processors, such as improved operational efficiency, energy conservation, and reduced data latency.

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The Edge AI Processor market size is expected to accelerate in the forecast time period. Edge has many advantages in addition to operational responsiveness, such as energy efficiency. As more data is processed at the edge, less data is moved to and from the cloud, resulting in lower data latency and energy consumption. Over half of organizations, according to the IBV, intend to use edge computing applications for energy efficiency management during the next few years. These factors are anticipated to boost the edge AI processor market growth over the forecast period.

The use of artificial intelligence applications, including virtual diagnostics, robotics-assisted surgery, image analysis, and electroceuticals in the healthcare sector, is rapidly increasing because of the accurate output results provided by such solutions. Moreover, edge-based cybersecurity is used to protect sensitive health data.

In edge AI processor, machine learning algorithms process IoT-generated data to near-end devices to overcome the problem of high latency and lack of security. A large volume of data gathered from an IoT device is transmitted to the cloud, where machine learning (ML) models run and transmit the processed data back to the device, which may lead to a delay in response. However, on-device AI reduces data sharing, enabling a faster response. In addition, it may not be feasible to store a large volume of data on the cloud. In edge AI processor, the processing power resides on the device/s; hence, sending this data to the cloud is not required, thereby reducing the costs.

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The global Edge AI processor industry is segmented on the basis of type, device type, and end-use.
Based on type, the Central Processing Unit (CPU) segment held the largest share in 2021, accounting for nearly half of the global Edge AI processor market revenue and would dominate the market in terms of revenue through 2030. The Application Specific Integrated Circuit (ASIC) segment, however, is estimated to witness the fastest CAGR of 17.1% during the forecast period. The report also discusses the graphics processing unit segment.

By device type, the consumer devices segment captured the largest share of nearly three-fourths of the global Edge AI processor market revenue in 2021 and is expected to lead the trail during the forecast period. However, the enterprise devices segment is likely to achieve the fastest CAGR of 16.5% by 2030.

On the basis of end use, the consumer electronics segment held the largest share in 2021, accounting for more than one-fourth of the global Edge AI processor market revenue and would dominate the market in terms of revenue through 2030. The healthcare segment, on the other hand, is estimated to witness the fastest CAGR of 17.2% during the forecast period. The report also analyzes the automotive and transportation, retail and e-commerce, manufacturing, and others segment.

Based on region, the market in North America was the largest in 2021, accounting for nearly two-fifths of the global Edge AI processor market revenue and is likely to maintain its dominance during the forecast period. The market in Asia-Pacific, however, is expected to manifest the fastest CAGR of 16.8% from 2022 to 2030.

The key players profiled in this report include 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.

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The report focuses on the global Edge AI processor market trends and the major products & applications, where Edge AI processors are deployed. It further highlights numerous factors that influence the market growth, such as forecast, trends, drivers, restraints, opportunities, and roles of different key players that shape the market. The report focuses on the overall demand for Edge AI processor in various countries, presenting data in terms of both value and volume. The revenue is calculated by proliferating the volume by region-specific prices, considering the region-wise differentiated prices.

Key Findings of the Study
• The edge AI processor market analysis provides in depth information regarding the edge AI processor market share along with the future opportunities.
• On the basis of type, the central processing unit (CPU) segment emerged as the global leader in 2021 and is anticipated to be the largest market during the forecast period.
• On the basis of device type, the consumer devices segment emerged as the global leader in 2021 and is anticipated to be the largest market during the forecast period.
• On the basis of region, Asia-Pacific is projected to have the fastest growing market during the forecast period.

David Correa
Allied Market Research
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