ARTIFICIAL INTELLIGENCE IN HARDWARE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Developments

• In February 2024, Luxonis, a company specializing in AI-powered vision systems, launched its first thermal camera, the OAK Thermal. This innovative camera features waterproof M12 and M8 connectors and is equipped with a Myriad AI accelerator. It is designed to detect leaks and fires, as well as to identify humans and animals with greater accuracy than traditional vision-only cameras.
• In January 2024, Sidus Space, a multi-faceted Space and Data-as-a-Service company focused on mission-critical hardware manufacturing, multi-disciplinary engineering services, satellite design, production, launch planning, mission operations, and in-orbit support, reached significant hardware contract and artificial intelligence (AI) milestones as the Company prepared for the launch of LizzieSat-1, the first satellite in its constellation, in March 2024 as part of SpaceX's Transporter-10 mission from Vandenberg Space Force Base in California.
• In April 2020, Intellifusion, a China-based AI chip maker specializing in visual intelligence, completed a pre-IPO financing round of nearly USD 141 million (approximately CNY 1 billion). This round was led by Utrust VC, Forebright Capital, and existing investor Walden International. Intellifusion focuses on developing AI technologies, including its recently launched second-generation chip, DeepEye1000, which is a heterogeneous multi-core visual analysis SoC featuring a custom instruction set neural network processor.
• In March 2020, Socionext Inc., a company specializing in the design and development of System-on-Chip (SoC) products, developed a prototype chip that integrates newly developed quantized Deep Neural Network (DNN) technology. This advancement enables highly sophisticated AI processing tailored for small, low-power edge computing devices. The prototype is part of a research initiative titled “Updatable and Low Power AI-Edge LSI Technology Development,” commissioned by Japan's New Energy and Industrial Technology Development Organization (NEDO).