Edge AI Market

Market Overview: 

The global edge AI market size reached US$ 15.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 70.9 Billion by 2032, exhibiting a growth rate (CAGR) of 18.5% during 2024-2032. The growing demand for IoT-based edge computing solutions, rising adoption of 5G networks, and the need for low latency and real-time data transmission mission-critical applications represent some of the key factors driving the market.

Edge AI or edge computing, refers to the utilization of artificial intelligence (AI) algorithms and processing power on devices located at the edge of a network, such as Internet of Things, smartphones, and other embedded systems. This AI is used to enable real-time processing and analysis of data at the source, without depending on cloud-based computing and the associated network latency and bandwidth requirements. This approach can reduce costs, increase efficiency, and enhance security and privacy by keeping data local. In recent years, edge AI has gained traction as it shifts the processing of AI algorithms and data from centralized cloud servers to the devices themselves, offering a faster and more secure way to handle data.

Edge AI Market Trends: 

One of the primary factors driving the market is the increasing focus on data privacy and security to reduce the risk of data breaches or cyber-attacks. Additionally, the rising adoption of artificial intelligence products and services is creating a positive market outlook. Other than this, the growing utilization of edge AI in the healthcare sector to generate accurate output results, is also positively influencing the market growth. Besides this, the augmenting demand for autonomous vehicles and robotics is boosting the product sales as it helps these vehicles communicate their data to the cloud in real-time to perform efficiently. Furthermore, as more data is generated at the edge of networks by IoT devices and sensors, there is a need for real-time processing and analysis of data. This has resulted in the adoption of edge AI technologies, which can help to process this data quickly and efficiently. Apart from these factors, the increasing availability of low-power and low-cost edge devices and extensive research and development (R&D) activities by key players to expand their consumer base are strengthening the market growth. Moreover, the emergence of new AI technologies, such as the development of low-power processors and specialized chips for edge AI applications, which make complex AI algorithms run on small devices with limited power and computing resources. Other growth-inducing factors include the rising need for faster and more efficient computing, increasing adoption of IoT devices and applications and the growing demand for autonomous systems.

Key Market Segmentation: 

IMARC Group provides an analysis of the key trends in each segment of the global edge AI market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on the component and industry.

Component Insights: 

• Hardware
• Network
• Edge Cloud Infrastructure
• Software
• Support Services
   

The report has provided a detailed breakup and analysis of the edge AI market based on the component type. This includes hardware, network, edge cloud infrastructure, software, support services and attractive investment proposition by component. According to the report, hardware represented the largest segment.

Industry Insights:

• BSFI
• Government and Utilities
• Telecom and IT
• Healthcare
• Real Estate
• Retail and E-Commerce
• Travel and Hospitality
• Others
   

A detailed breakup and analysis of the edge AI market based on the industry type has also been provided in the report. This includes BSFI, government and utilities, telecom and IT, healthcare, real estate, retail and e-commerce, travel and hospitality, and others.

Regional Insights:

•  North America
  • United States 
  • Canada 
• Asia Pacific 
  • China 
  • Japan 
  • India 
  • South Korea 
  • Australia 
  • Indonesia 
  • Others 
• Europe
  • Germany 
  • France 
  • United Kingdom 
  • Italy 
  • Spain 
  • Others 
• Latin America 
  • Brazil 
  • Mexico 
  • Others 
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for edge AI. Some of the factors driving the North America edge AI market included increasing demand for real-time data processing, growing adoption of IoT devices, and advancements in hardware technology.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the edge AI market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include ADLINK Technology Inc., Alphabet Inc., Amazon.com Inc., Anagog Ltd., Gorilla Technology Group, International Business Machines Corporation, Intel Corporation, Microsoft Corporation, Nutanix Inc., Synaptics Incorporated, Viso.ai, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report: 

• How has the global edge AI market performed so far, and how will it perform in the coming years? 
• What are the drivers, restraints, and opportunities in the global edge AI market? 
• What is the impact of each driver, restraint, and opportunity on the global edge AI market? 
• What are the key regional markets? 
• Which countries represent the most attractive global edge AI market? 
• What is the breakup of the market based on the component type? 
• Which is the most attractive component in the edge AI market? 
• What is the breakup of the market based on the industry? 
• Which is the most attractive industry in the edge AI market? 
• What is the competitive structure of the global edge AI market? 
• Who are the key players/companies in the global edge AI market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the edge AI from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global edge AI market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the edge AI industry and its attractiveness. 
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.