The global edge AI hardware market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the The global edge AI hardware market by region.
The global edge AI hardware market was value at ~$6.85 billion in 2020. The market is forecast to grow at a CAGR of ~18.5% during the forecast period from 2021-2027.
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An Edge Al device is an advanced form of system that processes and powers artificial intelligence-based robots and devices. Data processing is possible in this equipment by integrating artificial intelligence into it and improving its performance. In this case, cloud computing is not necessary. The device makes decisions on its own based on these factors. By using edge AI services, companies can move the workflow to the device, which reduces traveling time, supporting them in analyzing the data in less time or in real-time.
Factors Affecting the Global Edge Al Device Market
Growth is being driven by companies such as automotive and consumer electronics likely to embrace edge AI hardware and AI coprocessors for edge computing.
A growing number of edge devices with low latency also boosts the market growth.
The global edge AI hardware industry is severely restricted by several factors, such as power consumption and size.
Artificial intelligence products and services are expected to rise in demand and adoption, creating lucrative opportunities for the market.
A release on June 8th, 2021, by the Bureau and Economic Analysis and U.S. Census Bureau reports the recovering of the U.S. market. The report also described the recovery of U.S. International Trade in July 2021.In April 2021, exports in the country reached $300 billion, an increase of $13.4 billion. In April 2021, imports amounted to $294.5 billion, increasing by $17.4 billion. COVID19 is still a significant issue for economies around the globe, as evidenced by the year-over-year decline in exports in the U.S. between April 2020 and April 2021 and the increase in imports over that same period of time. The market is clearly trying to recover. Despite this, it means there will be a direct impact on the Healthcare/ICT/Chemical industries, resulting in a large market for Edge AI Hardware Market.
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Covid-19 Impact on the Global Edge Al Hardware Market
Covid-19 has caused considerable damage to the semiconductor and electronics industries. Due to an increase in the number of Covid-19 cases, businesses and factories across the world have closed. In addition, the partial or complete blockage of supply chains has posed challenges for manufacturers to reach their customers.
A pandemic of Covid-19 is affecting the economy and society globally. In addition to affecting the business globally, this outbreak has a growing impact every day. Stock markets are experiencing a crisis that is causing uncertainty and causing business confidence to fall. Supply chains are slowing down rapidly, and customers have more panic.
Shutting down manufacturing units has caused severe losses in business and revenue for Asian and European countries under lockdown. In addition to the impact of the Covid-19 disease, the industry operations of production and manufacturing industries are also adversely affected.
Furthermore, the Covid-19 pandemic has adversely affected the electronics sector, as production facilities have stalled, which, in turn, has increased demand for electronic and semiconductor products. Its major impact includes an interruption in manufacturing throughout Europe and an interruption in Chinese parts exports, which may hinder the market growth.
Regional Outlook: The Global Edge Al Hardware Market
Due to the growing need for faster device processing, network congestion, and the rapid rise in edge AI adoption in the US and Canada, North America is predicted to dominate the edge AI hardware market share during the forecast period.
Consumer electronics and smart home applications use artificial intelligence, which drives the growth of this market. A strong technical base and rising government funding are driving this region’s market. In Asia-Pacific, there are major manufacturers and exporters of semiconductors, which may provide opportunities for the market to increase its growth.
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Key Player: The Global Edge Al Hardware Market
The prominent key players in the global edge Al hardware market are:
Google LLC (Alphabet Inc.)
Samsung Electronics Co. Ltd. (Samsung)
Huawei Technologies Co. Ltd.
Qualcomm Technologies, Inc.
International Business Machines Corporation (IBM)
Aim of the Report: The Global Edge Al Hardware Market
The global edge Al hardware market is segmented on the basis of Device Type, End-User, Component, Process, and Region.
Segmentation based on Device Type
Segmentation based on End-User
Aerospace & Defense
Segmentation based on Component
Segmentation based on Process
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Segmentation based on Region
Rest of Western Europe
Rest of Eastern Europe
Australia & New Zealand
Rest of Asia Pacific
Middle East & Africa (MEA)
Rest of MEA
Rest of South America
What is the goal of the report?
• The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.
• During the forecast period, the report analyzes the growth rate, market size, and market valuation.
• The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
• The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance
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