Global Edge AI Hardware Market Sales Volume Will Reach 4,704 Million Units by 2030, Says P&S Intelligence
NEW YORK, March 13, 2023 /PRNewswire/ -- The global edge AI hardware market will touch the sale of 4,704 million units by 2030, advancing at a CAGR of 20.50% during 2022–2030, as per P&S Intelligence.
This is mainly because of the growth in edge computing usage and the rise in the demand for high data transfer speeds. By including AI in this device, a greater functionality and faster, easier, and more-precise information processing become possible.
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Moreover, the market is gaining opportunities for development as a result of the increasing research and development investments for creating enhanced gadgets and the rising data confidentiality and security issues.
Further, the rapid adoption of AI, IoT, and 5G across the government, retail, BFSI, consumer goods, and hospitality industries is predicted to drive the market.
Edge Computing Will Become Synapses of Smart Cities
Smart cities require a range of systems to realize the 'sustainability through connectivity' dream. Therefore, everything from energy generation and transmission, farming, and manufacturing to office buildings, healthcare, and houses will need to be 'smart'.
Moreover, with people becoming increasingly tech-savvy, the demand for automation will grow in all walks of life. As most automated devices will generate data and share it over the internet, the concept of edge computing will further gain ground.
APAC Witnessing Highest Edge AI Hardware Sales
Because of the introduction of 5G in the region, the increasing count of IoT devices, and the growing usage of smartphones in South Korea, China, India, and Japan, in 2022, APAC generated the highest revenue in the market.
Moreover, the increasing need for a vision processing unit in wearable technology, to enable AI functionalities, is driving the market. Sectors such as automotive, manufacturing, and telecommnications, which already have a high requirement for these devices, have a huge growth potential in the region.
Browse detailed report on Edge AI Hardware Market Insights, Segment Analysis, Growth and Demand Forecast to 2030
Product Sales in APAC Led by China
The largest electronics manufacturing hub in the world, China holds a 34% share in the market of the APAC region. Moreover, the Made in China 2025 initiative aims to make the country a powerhouse of AI-driven manufacturing, which will push the need for edge computing.
1–3-W Devices Witness Significant Demand
In the past few years, devices that consume 1 to 3 Watts of power held a significant market share, as the majority of the edge AI devices consume this much energy. Furthermore, smartphones are the main devices that run on 1–3 W of electricity. With the increasing requirement for smartphones, the need for AI devices with power consumption ranging from 1–3-Watts is expected to rise.
Edge AI Hardware Market Segmentation Coverage in the Report
Edge AI Hardware Market Analysis by Device
Edge AI Hardware Market Analysis by Power Consumption
Edge AI Hardware Market Analysis by Function
Edge AI Hardware Market Analysis by Processor
Edge AI Hardware Market Analysis by Vertical
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About P&S Intelligence
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