Edge AI Hardware Industry Growth, Development and Forecast Report, 2030

NEW YORK - Jan. 27, 2025 - PRLog -- The edge AI hardware market has experienced significant growth, reaching $23.8 billion in 2024. Projections indicate a robust compound annual growth rate (CAGR) of 17.9% from 2024 to 2030, with the market expected to reach $63.9 billion by 2030. This surge is primarily driven by advancements in edge computing devices and services, which enhance real-time data processing capabilities. Integrating artificial intelligence into these devices facilitates faster, more accurate data handling, leading to improved functionality. Additionally, increased investments in research and development for advanced devices, coupled with growing concerns over privacy and security, are contributing to market expansion.

Key Insights

• Device Segmentation: Smartphones dominate the edge AI hardware market, owing to the rising demand for enhanced imaging, photography, power efficiency, and security features. Wearables are also experiencing rapid growth, with a projected CAGR of 20.7%, driven by the increasing popularity of smart wearable devices.
• Regional Trends: The Asia-Pacific region leads the market, with China accounting for approximately 35% of the revenue in 2024. This dominance is attributed to the presence of numerous industry players and substantial investments in artificial intelligence technology within the automotive, electronics, and semiconductor sectors.
• Technological Advancements: The integration of AI with edge computing is revolutionizing various industries. In sectors such as autonomous vehicles, healthcare, and robotics, there is a growing demand for real-time automatic decision-making capabilities. This trend is driving the adoption of edge AI devices that offer enhanced functionality and efficiency.
• Competitive Dynamics: Key players in the edge AI hardware market include Qualcomm Technologies Inc., Huawei Technologies Co. Ltd., Alphabet Inc., MediaTek Inc., Intel Corporation, Nvidia Corporation, IBM Corporation, Google LLC, Microsoft Corporation, and Samsung Electronics Co. Ltd. These companies are at the forefront of developing innovative solutions to meet the evolving demands of various industries.

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• Emerging Opportunities: The increasing adoption of AI, IoT, and 5G technologies across sectors such as government, BFSI, retail, hospitality, and consumer goods presents significant growth opportunities. The rising need for edge computing in IoT applications and specialized processors for on-device image analytics are potential areas for industry advancement. Additionally, the uptake of 5G networks to integrate IT and telecom is expected to further drive market growth.

The edge AI hardware market is poised for substantial growth, driven by technological advancements and the increasing demand for real-time data processing across various industries. As key players continue to innovate and expand their offerings, the market is expected to witness significant developments in the coming years.