According to the business intelligence report titled ‘Global Edge AI Hardware Market Size study, by Device (Smartphones , Surveillance, cameras , Robots, Wearables , Edge servers , Smart speakers , Automotive, Smart mirrors), by Power Consumption (Less than 1 W, 1-3 W, 3-5 W,5-19 W, More than 10 W), by Processor (CPU, GPU, ASIC, Others), and Regional Forecasts 2021-2027’, available with MarketStudyReport, global edge AI hardware market sphere is slated to grow substantially and record a stable CAGR of over 17.9% during 2021-2027.
 

Conclusive findings by experts state that factors such as the increase in the number of intelligent applications, rising customer inclination towards real-time processing on edge devices, and the introduction of coprocessors for edge computing fuel the growth of the global edge AI hardware market.
 

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For the uninitiated, edge AI hardware refers to devices that are clubbed together in order to power and process AI-based robots and other devices.
 

Speaking of opportunities, dedicated AI processors for on-device image analytics and surge in the demand for edge computing for IoT are bound to propel the business forward by 2027. Moreover, credible sources cite that the number of active internet of things (IoT) connected devices across the world is projected to reach 50 billion by 2030, marking a major spike from 22 billion in the year 2018.
 

Despite the positive outlook, restraints such as a severe dearth of AI experts as well as lack of on-device training may hinder market growth over the assessment timeframe.
 

Moving on to the regional landscape, key geographies highlighted in global edge AI hardware industry report are North America, Europe, Asia Pacific, and Latin America. Among these, the Asia Pacific market is expected to record a substantial growth rate during the analysis period owing to a rise in the usage of AI processor enabled smartphones in the area.
 

Speaking of the competitive framework, Intel Corporation, Google LLC, Micron Technology, Inc., Qualcomm Technologies, Inc., Nvidia Corporation, IBM Corporation, Advanced Micro Devices (AMD), Inc., Samsung Electronics Co., Ltd., Xilinx, Inc. and Huawei Technologies Co., Ltd are the major players influencing the industry trends.