Overview and Scope
Edge Artificial Intelligence refers to the deployment of artificial intelligence (AI) algorithms and models directly on edge devices near the source of data generation rather than relying on centralized cloud-based processing. Edge AI offers several advantages over traditional cloud-based AI, which include improved bandwidth utilization, reduced latency, enhanced security and privacy, and offline functionality.
Sizing and Forecast
The edge artificial intelligence market size has grown exponentially in recent years. It will grow from $19.46 billion in 2023 to $24.48 billion in 2024 at a compound annual growth rate (CAGR) of 25.8%. The growth in the historic period can be attributed to rise of iot devices, increased demand for edge computing, surge in edge-based applications, rise of smart cities, demand for real-time processing.
The edge artificial intelligence market size is expected to see exponential growth in the next few years. It will grow to $61.63 billion in 2028 at a compound annual growth rate (CAGR) of 26.0%. The growth in the forecast period can be attributed to increasing edge ai in healthcare, rapid growth of edge ai in retail, regulatory support for edge computing, growing edge ai ecosystem, increasing complexity of ai workloads. Major trends in the forecast period include technology advancements, product innovations, edge ai security enhancements, chiplet integration, federated learning techniques.
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Segmentation & Regional Insights
The edge artificial intelligence market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Deployment Mode: On-Premise, Cloud-Based
3) By Data Sources: Mobile Data, Sensor Data, Biometric Data, Speech, Video and Image Recognition
4) By Application: Video Surveillance, Access Management, Autonomous Vehicles
5) By End-Use Industry : IT And Telecom, Automotive
North America was the largest region in the edge artificial intelligence market in 2023. The regions covered in the edge artificial intelligence market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The expansion of 5G networks is driving the edge artificial intelligence market going forward. 5G, or fifth-generation, refers to the latest generation of mobile network technology designed to provide faster and more reliable communication for mobile devices, as well as enable new applications and services. The deployment of 5G networks significantly enhances the capabilities and benefits of Edge Artificial Intelligence (Edge AI) by providing faster and more reliable communication between edge devices and the cloud. For instance, in February 2023, according to T-Mobile International AG, a Germany-based mobile telecommunications company, there were more than 1 billion active 5G subscriptions in 2023, and 5 billion individuals are expected to have 5G subscriptions by the end of 2028. Therefore, the expansion of 5G networks is driving the market for edge artificial intelligence market.
Key Industry Players
Major companies operating in the edge artificial intelligence market report are Alphabet Inc., Google, Microsoft Corporation, Amazon Web Services, International Business Machines Corporation, NVIDIA Corporation, Baidu, Inc., Intel Corporation , Renesas Electronics Corporation, Nutanix, Inc., Synaptics Incorporated, ADTRAN, Inc., Cloudera, Inc., TIBCO Software Inc., DataRobot, Inc., Bragi GmbH, Tact.ai Technologies, Inc., Gorilla Technology Group, Azion Technologies, Veea Inc., FogHorn Systems, Inc., ClearBlade, Inc., Octonion SA, Anagog Ltd., Dori AI, Adapdix, SWIM.AI Inc., Avassa, Imagimob AB, XNOR.AI
The edge artificial intelligence market report table of contents includes:
1. Executive Summary
2. Edge Artificial Intelligence Market Characteristics
3. Edge Artificial Intelligence Market Trends And Strategies
4. Edge Artificial Intelligence Market – Macro Economic Scenario
5. Global Edge Artificial Intelligence Market Size and Growth
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31. Edge Artificial Intelligence Market Other Major And Innovative Companies
32. Global Edge Artificial Intelligence Market Competitive Benchmarking
33. Global Edge Artificial Intelligence Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Edge Artificial Intelligence Market
35. Edge Artificial Intelligence Market Future Outlook and Potential Analysis
36.Appendix
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