Global Edge AI Processor Market to Reach Valuation of USD 9,891.5 Million by 2032: Astute Analytica

Global edge AI processor market is booming, driven by rising demand for real-time intelligence in devices spanning smartphones to industrial robots. Tech giants like Intel and NVIDIA dominate, alongside a thriving startup ecosystem. North America leads, fueled by automation and government investment, while Asia Pacific witnesses’ rapid growth due to IoT adoption.

New Delhi, March 13, 2024 (GLOBE NEWSWIRE) — The global edge AI processor market is projected to hit the market valuation of US$ 9,891.5 million by 2032 from US$ 2,163.2 million in 2023 at a CAGR of 18.4% during the forecast period 2024–2032.

The global demand for edge AI processor is expected to grow rapidly in the years to come thanks to increasing demand for low latency and real-time processing on edge devices, the advent of AI coprocessors for edge computing, and increasing usage of on-device AI processors in image analysis. The market is set to experience significant growth with key regions being China and North America. Wherein, Intel Corporation and Advanced Micro Devices among others are the major players in global edge AI processor market. It offers various advantages such as faster computing, real time operations better data security etc., helps overcome challenges associated with cloud computing.

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Convergence of artificial intelligence and edge computing continues maturing with enhanced capabilities reducing need for central cloud data transmission. Rise of Micro AI along-with introduction of Edge Optimized AI frameworks and models are some trends to watch out for which will be key driver for this market said HANetf CIO Hector McNeil. Rise in use cases where localization benefits outweigh scale benefits will drive adoption across industries. Following report examines how device makers are increasingly pushing part inference of an artificial intelligence workflow onto the device itself which keeps data local improves privacy and efficiency.

On the other hand, large models are hard to deploy there because they don’t fit into memory. Several companies are combating this problem. Intel is focused on model compression techniques that shrink large models to fit into smaller form factors while Vecow recently upgraded its edge AI platform with the latest Intel Core processors offering up to 24 cores and 32 threads for robust AI computing. Intel has big plans to make it even easier for customers in the future. The company announced a future Intel Xeon processor with built-in AI acceleration code-named Granite Rapids-D and teased that by the time it’s commercially available some I/Os common in today’s data centers will be obsolete.

Key Findings in Global Edge AI Processor Market

Market Forecast (2032) US$ 9,891.5 Million
CAGR 18.4%
Largest Region (2023) North America (42.6%)
By Processor Type CPU (47.2%)
By Device Type Consumer Devices (76.9%)
By Application  Smartphones and Mobile Devices (36.0%)
By End Users Consumer Electronics (28.9%)
Top Trends
  • Increasing focus on high ROI use cases for edge AI in 2023
  • Edge management becoming a key IT focus in 2022
  • Growing adoption of edge AI for applications like autonomous vehicles and the metaverse
Top Drivers
  • Need for real-time inference on diverse data streams generated at the edge
  • Demand for improved efficiency, automation, and cost reduction across industries fuel up growth of edge AI processor market
  • Advances in IoT, 5G, and AI technologies enabling more edge computing
Top Challenges
  • Ensuring robust security and privacy for distributed edge devices and data
  • Scaling and managing the growing complexity of edge AI deployments
  • Overcoming hardware limitations to achieve high performance for AI workloads at the edge

Global Edge AI CPU Shipment to Surpass 1,380 million Units

The edge AI processor market is growing at an enormous rate. This growth is largely driven by the Central Processing Unit (CPU) segment, which is forecasted to take up 47% of the market share. 1.38 billion units of edge AI CPUs are expected to be shipped by 2024, up from the 589 million units in 2019. The fact that AI capabilities can now be found in smartphones, smart speakers and wearables is a testament to their widespread adoption. Apple’s A-series Bionic chips, Qualcomm’s Snapdragon series, Samsung’s Exynos and Huawei’s Kirin are some examples of widely used AI-focused CPUs in modern phones. AI-capable devices will soon be everywhere we look. By the end of 2024, it is predicted that 19% of all PCs shipped will have this capability – a figure that could grow to as much as 60% by 2027. The integration of artificial intelligence into personal computing suggests that computers will become smarter over time too. It is also expected that around one billion edge AI chips will be shipped for smartphones alone by 2024.

Although smartphones are projected to drive most of the growth of the edge AI processor market over the next 9 years, other devices like tablets, smart speakers and wearables will also contribute significantly towards it. The Astute Analytica’s report also predicts that proprietary AI-ASSPs (Application-Specific Standard Products), such as those used in Qualcomm Snapdragon and MediaTek APU devices, could gain market share at the expense of GPUs by rising from its current figure of 19% to as high as 28%.

It seems that there may come a time when PCs resemble supersized smartphones more than traditional computers thanks to chip architectures like CPU-GPU-NPU being adopted across all platforms. However, despite these developments, in-CPU acceleration for artificial intelligence has not been taken up as quickly as was originally expected – something which could affect future processor choices in AI applications.

North America Become an Epicenter of Demand and Developments in Edge AI processor Market, Controls 42.6% Market Share

North America is at the forefront of the Edge AI processor market, with strong growth, significant funding and major players such as Nvidia, Intel and Google. Wherein, the US accounted for an 85% revenue share of the North American market in 2023. The US technology sector alone has many leading global companies such as Intel, Qualcomm, Apple and Nvidia. These companies can invest a lot of resources in edge AI processors and have a sound foundation for technological innovation. North America also has a strong start-up ecosystem that encourages the birth of new technologies. In October 2022, Kneron raised $50 million in funding for next-generation AI hardware solutions. Intel announced its collaboration expansion with Synopsys to accelerate software development for accelerated Artificial Intelligence (AI), Internet of Things (IoT), cloud security protocols in August 2023. Moreover, Run:AI launched an MLOps Compute Platform supported by NVIDIA DGX systems in November 2022.

The adoption of IoT, 5G and AI in various industries will continue to drive this trend forward. As enterprises deploy AI technology to make smarter decisions and automate operations, global demand for industrial robots will grow rapidly. To enable localised real-time decision-making at scale across machines and devices – including robots – edge AI computing is vital. The U.S. government is actively supporting research on software-defined compute architectures for edge artificial intelligence (AI) systems. With multi-agency support (DoE + NSF + DoD), the goal of these efforts is to develop innovative hardware designs in the edge AI processor market.

Industrial automation technologies powered by edge AI are set to revolutionize traditional manufacturing processes and supply chains across the US and Canada, enabling more flexible production lines with intelligent feedback loops between robots.

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Innovations and Software Developments

Edge AI is becoming more accessible through semiconductor innovation which makes it easier to implement them. Low-power microprocessors and user-friendly software make it possible for real-time intelligence on devices without using cloud data transmission. Hardware accelerators and low-power Arm Cortex-based microprocessors enhance performance and energy efficiency. New edge AI software development tools also reduce the need for programming expertise making deployment easier.

Investments and collaborations in the global Edge AI processor market are making deploying edge AI even deeper in the industry. In line with this, Renesas strategically invested in EdgeCortix, a company that teased new AI chips as well as hybrid edge-cloud architectures with a launch of a new product in Japan that specializes in AI calculations. Intel previewed its next-gen Intel Xeon processor for 5G core that showed significant performance improvements. They have also announced their own platform to enable enterprises to deploy Al solutions easily called Intel’s Edge Platform.

Key Recent Investments in Edge AI Processor Market

  1. SambaNova Systems: A startup that focuses on developing high-performance, high-precision hardware-software systems for high-volume generative AI workloads. They have developed the SN40L chip and raised more than $1.1 billion in funding.
  1. EdgeCortix: EdgeCortix, a company specializing in edge AI solutions, recently secured $20 million in additional funding to expand its engineering capacity in Japan and establish a new development center in India.
  2. AiM Future: AiM Future, an edge AI acceleration technology provider, concluded a substantial multi-million-dollar Series A funding round with investments from various venture capital firms.
  3. Captur: Captur, an enterprise AI image verification startup, secured $2.2 million in its latest funding round.
  4. Denodo: Denodo, a data management provider, entered into an agreement with TPG for a $336 million investment.
  5. Graphcore: Graphcore, an AI chip maker and one of the leading players in global edge AI processor market, has strategic partnerships with data storage corporations like DDN, Pure Storage, and Vast Data. It also works with research institutes around the globe, such as the Oxford-Man Institute of Quantitative Finance, University of Bristol, and Berkeley University of California.
  6. Mythic: Mythic, founded in 2012, is focused on edge AI and follows an unconventional analog compute architecture. It has raised about $165 million in funding and restructured its business with a funding round in March 2023.
  7. BuzzFeed (BZFD): In January 2023, BuzzFeed saw its stock price soar more than 85% the day after the publication of a news report about a partnership with OpenAI to develop an AI-powered article writer.
  8. US Government Funding: The US government raised core AI R&D funding by USD 25 billion in December 2019 as part of the National AI R&D Strategic Plan, aiming to make high-quality cyber infrastructure more accessible.

Global Edge AI Processor Market Key Players

  • Advanced Micro Devices, Inc.
  • Huawei Technologies
  • IBM
  • Intel Corporation
  • Hailo
  • NVIDIA Corporation
  • Mythic
  • MediaTek Inc.
  • Graphcore
  • STMicroelectronics
  • Other Prominent Companies

Key Segmentation:

By Processor Type

  • Central Processing Unit (CPU)
  • Graphics Processing Unit (GPU)
  • Field Programmable Gate Arrays (FPGA)
  • Application Specific Integrated Circuits (ASIC)

By Device Type

  • Consumer Devices
  • Enterprise Devices

By Application

  • Robotics
  • Smartphones and Mobile Devices
  • Internet of Things (IoT) Devices
  • Smart Cameras and Surveillance Systems
  • Autonomous Vehicles
  • Industrial Automation
  • Others

By End User

  • Consumer Electronics
  • Healthcare
  • Automotive
  • Retail
  • Security and Surveillance
  • Government
  • Agriculture
  • Others (Manufacturing, Construction, etc.)

By Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa (MEA)
  • South America

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About Astute Analytica

Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.

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