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The edge AI hardware market share is expected to increase by USD 6.93 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 17.37%.
This edge AI hardware market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers edge AI hardware market segmentation by component (memory, processor, and others) and geography (North America, Europe, APAC, South America, and Middle East and Africa). The edge AI hardware market report also offers information on several market vendors, including Advanced Micro Devices Inc., Alphabet Inc., Apple Inc., Applied Brain Research, Baidu Inc., China Cambrian Technology Co. Ltd., Graphcore Ltd., Horizon Robotics Inc., Huawei Investment and Holding Co. Ltd., Imagination Technologies Ltd., Intel Corp., International Business Machines Corp., MediaTek Inc., Micron Technology Inc., Microsoft Corp., NVIDIA Corp., Qualcomm Inc., Samsung Electronics Co. Ltd., Tenstorrent Inc., and Texas Instruments Inc. among others.
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The rise in IoT application by various end-user industries is notably driving the edge AI hardware market growth, although factors such as lack of skilled ai professionals may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the edge AI hardware industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Edge AI Hardware Market Driver
One of the key factors driving growth in the edge AI hardware market is the rise in IoT application by various end-user industries. IoT technology is the keystone for various enterprises to digitally transform, allowing them to improve existing operations while also developing and tracking new business models. Businesses and service providers have viewed IoT as a significant driver for enhancing digital transformation and unlocking operational efficiency. The acceptance of IoT technology across end-user sectors such as manufacturing, automotive, and healthcare is increasing. IoT is powering the next industrial revolution of intelligent connectivity, as the traditional manufacturing sector undergoes a digital transformation. This is altering how businesses approach increasingly complex systems and machines to increase productivity and reduce downtime. These factors will drive the market growth during the forecast period.
Key Edge AI Hardware Market Trend
The increase in demand for smart homes and smart cities is an edge AI hardware market trend that is expected to have a positive impact in the coming years. A smart home is a residence with Wi-Fi-enabled smart devices. A smart home is one in which connected smart devices are used to make it more efficient or convenient. Electronic devices are shrinking in size, becoming less expensive, and becoming more linked. People may now take advantage of the power of smart gadgets to control their homes from anywhere in the world. Advanced technologies such as AI, machine learning, big data, and blockchain are being used to create smart cities. Smart cities worldwide are progressively adopting these technologies due to their rising penetration across numerous sectors. As smart cities become more prevalent, more individuals are becoming interested in the concept of a smart house. As more people move to cities, the demand for automated services in their daily lives will increase. Smart homes are becoming a necessity rather than a luxury. As a result, the market will grow during the forecast period due to the rising demand for smart homes and smart cities.
Key Edge AI Hardware Market Challenge
The lack of skilled AI professionals will be a major challenge for the edge AI hardware market during the forecast period. Various organizations are fully invested in AI, yet more than half lack the necessary in-house skilled expertise to carry out their strategy. According to AI statistics, in 2020, more than 9 in 10 (91%) top businesses had an ongoing investment in AI. However, most of them admitted that they lack the necessary mix of experienced AI talent in-house to implement their strategies. Indeed, a shortage of skilled talent was recognized as the most significant barrier to the advancement of their AI initiatives, followed by a lack of budget, a lack of access to the right technology, and a lack of useful data challenging the market growth. However, a lack of skilled professionals can hamper the growth of the market.
This edge AI hardware market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global edge AI hardware market as a part of the global information technology (IT) spending market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the edge AI hardware market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the edge AI hardware market encompasses successful business strategies deployed by the key vendors. The edge AI hardware market is fragmented and the vendors are deploying growth strategies such as M and A and geographical expansion, to increase their market penetration and strengthen their stand in the industry to compete in the market.
Advanced Micro Devices Inc. - Advanced Micro Devices Inc. is a public company headquartered in the US. It is a global company generating $16,434 million in revenues and has around 15,500 employees. Its revenue from the global edge AI hardware market contributes to its overall revenues along with its other offerings, but it is not a key revenue stream for the company.
Advanced Micro Devices Inc. - The company offers AMD EPYC, EPYC Embedded and Ryzen 3rd Generation processors that offer high core count options with multiple connectivity features.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The edge AI hardware market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the edge AI hardware market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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44% of the market's growth will originate from North America during the forecast period. The US is the key market for edge AI hardware in North America. Market growth in this region will be faster than the growth of the market in other regions.
The growing number of IoT devices, the ever-increasing need for faster processing devices, increasing government support, and a strong technical background will facilitate the edge AI hardware market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The regional edge AI hardware market witnessed a slowdown in 2020 due to the outbreak of COVID-19. The US has been the most affected country globally by the COVID-19 pandemic. Many end-user industries such as manufacturing and automotive were adversely affected by the outbreak. However, by 2021, the demand for edge AI hardware rebounded as regional end-user activities picked up due to the initiation of large-scale COVID-19 vaccination drives. These factors will, thus, drive growth in the regional edge AI hardware market during the forecast period.
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The edge AI hardware market share growth by the memory segment will be significant during the forecast period. AI edge chip designers are testing several forms of memory for their upcoming applications. Vendors are pursuing a variety of memory strategies, including traditional memories such as static random-access memory (SRAM) and others, NOT-OR (NOR) flash for a newer technology known as analog in-memory computing, phase-change memory, magnetoresistive random-access memory (MRAM), resistive random-access memory (ReRAM), and other next-generation memories. These factors will contribute to the growth of the segment during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the edge AI hardware market size and actionable market insights on post COVID-19 impact on each segment.
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Edge AI Hardware Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 17.37% |
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Market growth 2022-2026 |
$ 6.93 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
16.55 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 44% |
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Key consumer countries |
US, China, Japan, UK, and Germany |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Advanced Micro Devices Inc., Alphabet Inc., Apple Inc., Applied Brain Research, Baidu Inc., China Cambrian Technology Co. Ltd., Graphcore Ltd., Horizon Robotics Inc., Huawei Investment and Holding Co. Ltd., Imagination Technologies Ltd., Intel Corp., International Business Machines Corp., MediaTek Inc., Micron Technology Inc., Microsoft Corp., NVIDIA Corp., Qualcomm Inc., Samsung Electronics Co. Ltd., Tenstorrent Inc., and Texas Instruments Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Component
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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