According to a new report, published by KBV research, The Global Edge AI Accelerator Market size is expected to reach $47.25 billion by 2031, rising at a market growth of 30.3% CAGR during the forecast period.
The Application-Specific Integrated Circuits (ASICs) segment is capturing a CAGR of 30.5% during (2024 - 2031). The segment’s growth was fuelled by the rising demand for high-performance, energy-efficient AI chips tailored for specific AI workloads. ASICs offer superior processing capabilities compared to general-purpose processors, making them ideal for applications such as autonomous driving, healthcare diagnostics, and smart surveillance systems. As industries prioritize low-power, high-speed AI processing, the adoption of ASICs in edge AI applications is expected to rise further.
The Smartphones segment is leading the Global Edge AI Accelerator Market by Device in 2023; thereby, achieving a market value of $18.34 billion by 2031. The increasing integration of AI-powered features, such as facial recognition, voice assistants, and computational photography, has driven the demand for edge AI accelerators in smartphones. Additionally, the growing consumer preference for advanced AI-driven mobile applications and on-device AI processing capabilities has further fuelled market growth in this segment. The push for energy-efficient AI models and next-generation AI processors is anticipated to enhance AI adoption in smartphones further.
The Healthcare segment experienced a CAGR of 29.8% during (2024 - 2031). The rising use of AI-powered medical imaging, remote patient monitoring, and predictive analytics drove demand for edge AI accelerators in the healthcare sector. Furthermore, the need for faster and more efficient diagnostics and the growing integration of AI in wearable health devices has strengthened market expansion within the healthcare industry.
Full Report: https://www.kbvresearch.com/edge-ai-accelerator-market/
The North America region dominated the Global Edge AI Accelerator Market by Region in 2023; thereby, achieving a market value of $17.59 billion by 2031. The Europe region is expected to witness a CAGR of 30% during (2024 - 2031). Additionally, The Asia Pacific region would register a CAGR of 30.8% during (2024 - 2031).
By Processor
By Device
By End Use
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