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What Growth Rate Can Be Expected in the Edge AI Hardware Market from 2024 Through 2033?

There has been a considerable surge in the size of the edge AI hardware market in recent times. It is anticipated to escalate from a value of $6.64 billion in 2023 to $7.9 billion in 2024, marking a compound annual growth rate (CAGR) of 19.0%. This significant increase during the historic period is a result of heightened market awareness and education, the emergence of IoT devices, progress in AI algorithms, the need for lower latency, and concerns surrounding data security and privacy.

The market for edge AI hardware is projected to witness a substantial increase in the upcoming years, with its valuation predicted to reach $16.58 billion by 2028, expanding at a compound annual growth rate (CAGR) of 20.4%. The significant development in the projected period could be linked to improvements in hardware architecture, efficient edge devices, a balance between edge and cloud, privacy and data safety necessities, and unique industrial solutions. During the foreseen period, major trends will include the optimization of AI models for the edge, hardware acceleration solutions, synergy between edge and cloud, decentralized AI applications, and the adoption of federated learning.

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What Dynamics Are Shaping the Growth of the edge ai hardware Market?

The increase in the number of IoT applications is likely to fuel the growth of the edge AI hardware market. IoT applications are comprised of various services and programs that collect data from a wide range of IoT devices. The data collected from the entire factory floor can be gathered by these apps and transferred to the edge of the network. As such, an increase in IoT applications is anticipated to stimulate the edge AI hardware market. A report from Dataport, a public-service provider based in Germany, revealed that more than 10 billion IoT devices were in use in 2021. By 2030, it is expected that over 25.4 billion IoT devices will be active. Furthermore, by 2025, IoT devices are estimated to be making internet connections 152,200 times per minute. As a result, the growth of the edge AI hardware market is being driven by the increase in IoT applications.

What Are the Essential Segments of the Edge AI Hardware Market?

1) By Component: Processor, Memory, Sensor, Other Components

2) By Device Type: Smartphones, Cameras, Robots, Wearables, Smart Speaker, Other Device Types

3) By End User: Consumer Electronics, Smart Home, Automotive, Government, Aerospace and Defense, Healthcare, Industrial, Construction, Other End Users

What Are the Defining Trends in the Evolving Edge AI Hardware Market?

The rising trend in the edge AI hardware market is the development and popularity of technologically superior products. Prominent corporations in the edge AI market are focusing on creating cutting-edge technologies to consolidate their market position. An example manifested in May 2022 when Intel’s Habana Labs, an AI processor-producing company based in Israel, introduced its second-generation AI processors for training and inferencing. What distinguishes these AI processors is their ability to mend a market void by providing customers with superior performance and efficiency for deep learning computing options for both training and inference deployments in data centers. Furthermore, it also reduces the barriers for businesses of all sizes to enter the AI sector, setting it apart from its rivals.

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Which Regions Are Emerging as Leaders in the Edge AI Hardware Market?

North America was the largest region in the edge AI hardware market in 2023. Asia-Pacific is expected to be the fastest-growing region in the edge AI hardware market during the forecast period. The regions covered in the edge ai hardware market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Edge AI Hardware Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the edge ai hardware market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Edge AI Hardware Market Include

1. Edge AI Hardware Market Executive Summary

2. Edge AI Hardware Market Segments

3. Edge AI Hardware Market Size And Template Market Growth Rate

4. Key Edge AI Hardware Market Trends

5. Major Edge AI Hardware Market Drivers

……

25. Key Mergers And Acquisitions In The Edge AI Hardware Market

26. Top Edge AI Hardware Companies

27. Edge AI Hardware Market Opportunities And Strategies

28. Edge AI Hardware Market, Conclusions And Recommendations

29. Appendix

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