Edge Artificial Intelligence Chips Market Research
“The Business Research Company recently released a comprehensive report on the Global Edge Artificial Intelligence Chips Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.
According to The Business Research Company’s, The edge artificial intelligence chips market size has grown rapidly in recent years. It will grow from $5.04 billion in 2023 to $5.99 billion in 2024 at a compound annual growth rate (CAGR) of 18.7%. The growth in the historic period can be attributed to applications in medical fields, growing interest and adoption of virtual and augmented reality, popularity of interactive and immersive gaming experiences, advancements in robotics, industrial applications and automation.
The edge artificial intelligence chips market size is expected to see rapid growth in the next few years. It will grow to $11.68 billion in 2028 at a compound annual growth rate (CAGR) of 18.2%. The growth in the forecast period can be attributed to emergence of 5g technology, miniaturization of tracking devices, wider adoption in navigation systems, demand for 3d positioning, increasing adoption of wearables. Major trends in the forecast period include growth of minimally invasive surgical procedures, expansion in oncology applications, adoption in orthopedic surgery, integration with augmented reality and navigation systems, development of portable and wireless tracking systems.
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Market Drivers and Trends:
The rise in the volume of data generated through social media and e-commerce platforms is expected to propel the growth of the edge artificial intelligence chips market going forward. The term volume of data in the context of social media and e-commerce platforms refers to the sheer amount or quantity of digital information generated, processed and stored within these platforms. The use of edge AI chips in conjunction with the substantial volume of data from social media and e-commerce platforms enables faster, more personalized, and more secure experiences for users while optimizing platform operations in real time. For instance, in February 2023, according to Forbes, a US-based business magazine, by 2026, 24% of retail purchases are expected to take place online and the e-commerce market is expected to total over $8.1 trillion. Social media commerce is expected to reach $2.9 trillion by 2026. Therefore, the rise in the volume of data generated through social media and e-commerce platforms is driving the growth of the edge artificial intelligence chips Market.
Major companies operating in the edge artificial intelligence chips market are developing innovative platforms, such as edge AI developer platforms, to increase their profitability in the market. An Edge AI developer platform comprises a collection of tools and resources designed to empower developers in the creation and deployment of AI models on edge devices. For instance, in January 2024, Ambarella Inc., a US-based semiconductor company, launched a platform called Cooper Developer Platform. The platform encompasses a preconfigured suite of hardware and software development tools, incorporating Cooper Metal, a range of AI System-on-Chips (SoCs), and board-level hardware solutions. Designers can fully leverage Ambarella’s AI performance through user-friendly and comprehensive tools, abstracting the hardware complexities and allowing them to concentrate on product development.
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Major Key Players of the Market:
Major companies operating in the edge artificial intelligence chips market report are Apple Inc., Alphabet Inc., Samsung Electronics Co. Ltd., Intel Corp., Qualcomm Technologies Inc., NVIDIA Corp., Advanced Micro Devices Inc., Synopsys Inc., Marvell Technology Group Ltd., Xilinx Inc, Cadence Design Systems Inc., HiSilicon Technologies CO. Ltd, Arm Ltd., Bitmain Technologies Ltd., Imagination Technologies Group plc, Cambricon Technologies Corporation Limited, VeriSilicon Holdings Co. Ltd., Mythic Ltd., Tenstorrent Inc., Sambanova Systems, Hailo Technologies Ltd., Kalray SA, Thinci Inc., Flex Logix Technologies Inc., GreenWaves Technologies, Graphcore Limited
Edge Artificial Intelligence Chips Market 2024 Key Insights:
• The edge artificial intelligence chips market is expected to grow to $11.68 billion in 2028 at a compound annual growth rate (CAGR) of 18.2%.
• Rise In The Volume Of Data Generation through social media and e-commerce platforms Drives The Market
• Focus On Innovative Developer Platforms For Enhanced Profitability
• North America was the largest region in the edge artificial intelligence chips market in 2023
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