By the end of 2032, the Edge AI Processor Market is anticipated to reach US$ 9.5 billion, driven by the strong demand for consumer devices such as smartphones, as well as for IoT devices. The Edge AI chips can be employed for a range of applications like smartphones and IoT, as well as for boosting productivity in the factories by enabling robots for manufacturing operations. Additionally, these chips can be used in the automotive sector to enhance the advanced driver assistance system and increase the vehicle’s connectivity and autonomous driving capabilities.
Qualcomm Technologies Inc., Mythic, Arm Limited, HiSilicon Technologies Co Ltd, Intel Corporation, Advanced Micro Devices, Inc., Alphabet Inc., Apple Inc., Samsung Electronics Co., Ltd., Nvidia Corporation—are some of the important players in the Edge AI Processor Market. These players are currently investing heavily in the development of new generations of Edge AI processors. For example, Qualcomm Technologies has recently unveiled an edge AI processor called the Snapdragon 690 5G Mobile Platform. Featuring Kryo 560 CPU, Adreno 619L GPU, and Hexagon Tensor Accelerator, the processor can provide almost 3 times better AI performance and energy-efficiency compared to its predecessor.
The analysis of Persistence Market Research reveals extensive growth in the Edge AI Processor Market. This rise in demand for consumer devices such as smartphones and the surge in demand for IoT devices expands the market for edge AI processors. In order to boost productivity in the factories, these chips can also be used in robots that will support manufacturing processes. With rapid adoption of consumer devices like smartphones and autonomous vehicles, the utilization of smart devices across industries will drive edge AI processors becoming the new norm.
In order to further drive the user base and Capture the market share, Qualcomm Technologies Inc, Mythic, Arm Limited, HiSilicon Technologies Co Ltd, Intel Corporation, Advanced Micro Devices, Inc., Alphabet Inc., Apple Inc., Samsung Electronics Co., Ltd. and Nvidia Corporation are leveraging their market position, launching various cutting-edge products, and making strategic investments.
Coupled with the increasing demand for low-power and high-performance computing, fueled by the rapid expansion of 5G telecom infrastructure, the demand for edge AI processors is expected to surge in the coming years, becoming the new driving force for the progress of the AI industry. By leveraging new technologies and algorithms to improve the functionality of the chips and their processing power, these companies are poised to revolutionize the Edge AI Processor Market and propel the market to greater heights.
