Global Edge AI Processor Market to Generate $8,059.7 Million, Shortage of Skilled Professionals Can Hinder the Growth of the Market - Exclusive Report [221 Pages] By Research Dive
The global edge AI processor market is expected to witness massive growth in forecast period, owing to rising usage of on-device AI processors for image analysis. The North America region is anticipated to observe dominant growth by 2028.
NEW YORK, Nov. 22, 2021 /PRNewswire/ -- Research Dive in its newest published report estimates that the Global Edge AI Processor Market will generate $8,059.7 million and exhibit a CAGR of 16.5% from 2021 to 2028.
The usage of on-device AI processors is increasing across the world for image analysis. AI mobile processors power applications of computational imaging in wearable electronics, drones, robots, and self-driving cars. Besides, the demand for industrial and personal drones is increasing worldwide, which is driving the demand for edge AI processors. All these factors are predicted to boost the growth of the global edge AI processor market during the forecast period. Additionally, technological advancements and rapid growth in electronics industry worldwide are the factors predicted to create huge growth opportunities for the edge AI processor market by 2028. However, the lack of skilled professionals in the industry is expected to hamper the market growth during the estimated timeframe.
The COVID-19 pandemic has substantially impacted the global edge AI processor market growth. The transition of healthcare industry from computers to the cloud to the edge has proven to be quite beneficial during the pandemic period. Many pharmaceutical companies and hospitals have begun to embrace edge AI. Moreover, research indicates that there will be several ways for the healthcare sector to incorporate edge AI and edge IoT into their daily operations in the coming future.
The research report segments the global edge AI processor market into type, device type, end use, and region.
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These players are focusing on product launches, technological advancements, and strategic collaborations to gain a competitive in the global market.
For instance, in March 2021, ArchiTek Corporation, a start-up venture engaged in the R&D of beautiful and simple architecture and algorithms, announced the launch of 'AiOnIc,' the industry's most compact and high-performing edge AI processor.
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