Surge in investments in AI startups, increase in demand for smart homes & smart cities, and rise in need for automation & safety in organizations drive the growth of the global edge AI hardware Market. Based on device type, the smartphones segment held the major share in 2020. By region, on the other hand, the market across Asia-Pacific would manifest the fastest CAGR by 2030.
Portland,OR, Sept. 27, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global edge AI hardware market was estimated at $6.88 billion in 2020 and is expected to hit $38.87 billion by 2030, registering a CAGR of 18.8% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
Surge in investments in AI startups, increase in demand for smart homes & smart cities, and rise in need for automation & safety in organizations drive the growth of the global edge AI hardware market. On the other hand, lack of awareness among the SMEs impedes the growth to some extent. However, upsurge in adoption of robotics technology in the emerging economies is expected to create multiple opportunities in the future.
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Business and manufacturing units across various countries were closed, due to increase in number of COVID-19 cases.
Furthermore, partial or complete lockdown disrupted global supply chain posing challenges for manufacturers to reach customers, thereby impacting the edge AI hardware market negatively, especially during the initial phase.
The global edge AI hardware market is analyzed across component, device type, process, end user, and region.
Based on component, the processor segment accounted for around three-fifths of the total market share in 2020, and is expected to rule the roost by 2030. The same segment would also garner the fastest CAGR of 19.7% throughout the forecast period.
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Based on device type, the smartphones segment contributed to around one-third of the total market revenue in 2020, and is projected to lead the trail by 2030. The robot’s segment, on the other hand, would exhibit the fastest CAGR of 22.9% during the forecast period.
Based on region, the market across North America held the major share in 2020, garnering more than one-third of the global market. Simultaneously, the Asia-Pacific region would manifest the fastest CAGR of 22.1% throughout the forecast period. The other provinces discussed in the report include Europe and LAMEA.
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The key market players analyzed in the global edge AI hardware market report include Apple Inc., Google LLC (Alphabet Inc.), Samsung Electronics Co. Ltd. (Samsung), Huawei Technologies Co. Ltd., Intel Corporation, International Business Machines Corporation (IBM), MediaTek Inc., Microsoft Corporation, NVIDIA Corporation, and Qualcomm Technologies Inc. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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