The global edge artificial intelligence chips market size is expected to reach USD 9.5 billion by 2027, according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 21.3% from 2020 to 2027. Semiconductor companies are experiencing high demand for their existing chips with hardware serving as a differentiator in AI. Also, these companies are developing workload-specific (training and inference) AI accelerators. For instance, Apple has implemented a neural engine in its A11 Bionic chip’s processor to speed-up the third-party applications. The market is growing rapidly with the rising implementations of edge-based AI in smartphones and autonomous vehicles.
Demand for more efficient processors due to increasing data complexity and need for local data processing is encouraging the semiconductors industry to adopt edge-based artificial intelligence chips. With the rise in AI applications ranging from consumer devices to enterprise devices, adoption of edge AI-supported chips has been noted considerably. The market for consumer devices is much larger than that for enterprise devices because the enterprise edge-based AI chip market is newer. For instance, in July 2017, the first enterprise edge AI chip, named Neural Compute Stick (NCS), was introduced by the Intel Corporation.
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Edge computing has been proven as the best choice for the inference function. Since the AI algorithm handles less amount of data and is required to generate responses more rapidly with inference, therefore, artificial intelligence at the edge is used for most data inference use-cases. For instance, self-driving cars and medical applications cannot transmit images to the cloud for processing as they require responses in a shorter period. With the rise in IoT devices, such as connected cars, demand for edge AI chips is anticipated to grow.
Edge Artificial Intelligence Chips Market Report Highlights
• Considerable surge in connected cars and other IoT devices will create wide potential for manufacturers in market
• Prominent companies, such as Alphabet Inc., are significantly involved in the integration of new AI capabilities, such as natural language dialogue, storytelling in their AI chips
• Market players are focusing on providing advanced AI chips for edge computing which provides advanced features, such as visual intelligence, for better recognition and differentiation of locations, spaces, and objects
• Market participants are undertaking strategic initiatives, including partnerships and mergers & acquisitions of tech-based startups providing innovative products to expand their outreach in the market
• Some of the key companies areAdvanced Micro Devices, Inc.; Alphabet, Inc.; Intel Corp.; Qualcomm Technologies, Inc.; Apple, Inc.; Mythic Ltd.; Arm Ltd.; Samsung Electronics Co., Ltd.; NVIDIA Corp.; HiSilicon (Shanghai) Technologies Co., Ltd.; and Xilinx, Inc.
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Edge Artificial Intelligence Chips Market Segmentation
Grand View Research has segmented the global edge artificial intelligence chips market based on processor, device type, function, and region:
Edge AI Chips Processor Outlook (Revenue, USD Million, 2016 - 2027)
• CPU
• GPU
• ASIC
• Others
Edge AI Chips Device Type Outlook (Revenue, USD Million, 2016 - 2027)
• Consumer Devices
• Enterprise Devices
Edge AI Chips Function Outlook (Revenue, USD Million, 2016 - 2027)
• Training
• Inference
Edge AI Chips Regional Outlook (Revenue, USD Million, 2016 - 2027)
• North America
o U.S.
o Canada
o Mexico
• Europe
o U.K.
o Germany
o France
• Asia Pacific
o China
o Japan
o India
• South America
o Brazil
• Middle East and Africa (MEA)
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.