The global edge AI market is expected to grow at a CAGR of 20.54%, reaching a market size of US$59.978 billion in 2029 from US$23.571 billion in 2024.
Edge computing and artificial intelligence (AI) technology are combined to create edge AI. With the help of this solution, several AI algorithms with edge computing capabilities can operate locally on devices for vital applications. Without internet access, this solution enables local devices to process data in real-time. Company sectors such as automotive, manufacturing, healthcare, energy and utility, consumer goods, IT, and telecom are making use of these gadgets. Edge AI enables fast data processing, leading to real-time information processing on the Internet of Things gadgets. Instead of being stored in the cloud, edge AI stores the data required to apply AI locally on the device or a nearby server.
Multi-Access Edge Computing architecture provides networking, storage, and processing capabilities at the edge of the network, near end users and end devices. Virtual devices, as opposed to actual edge computers, are utilized in MEC Edge AI use cases to process camera video streams over a 5G connection. For instance, in February 2023, Dublin City University in Europe and Cellnex Ireland, a European provider of wireless telecom infrastructure, worked together to develop a 5G-enabled smart campus. Cellnex installs a range of telecommunication infrastructure on the campuses as part of this partnership to enable Mobile Edge Computing (MEC) capabilities and guarantee 5G coverage throughout the main campus.
The major market players are attempting to organize and create new technological advancements. Furthermore, the healthcare sector will benefit from the high performance and acceleration provided by the integration of this technology. For instance, Nvidia extended the use of its Edge Artificial Intelligence technology for robotics and healthcare in September 2022. The Nvidia IGX Platform aims to accelerate performance and extract real-time insights for use in both industrial and medical use cases.
Edge computing and artificial intelligence (AI) technology are combined to create edge AI. With the help of this solution, several AI algorithms with edge computing capabilities can operate locally on devices for vital applications. Without internet access, this solution enables local devices to process data in real-time. Company sectors such as automotive, manufacturing, healthcare, energy and utility, consumer goods, IT, and telecom are making use of these gadgets. Edge AI enables fast data processing, leading to real-time information processing on the Internet of Things gadgets. Instead of being stored in the cloud, edge AI stores the data required to apply AI locally on the device or a nearby server.
Multi-Access Edge Computing architecture provides networking, storage, and processing capabilities at the edge of the network, near end users and end devices. Virtual devices, as opposed to actual edge computers, are utilized in MEC Edge AI use cases to process camera video streams over a 5G connection. For instance, in February 2023, Dublin City University in Europe and Cellnex Ireland, a European provider of wireless telecom infrastructure, worked together to develop a 5G-enabled smart campus. Cellnex installs a range of telecommunication infrastructure on the campuses as part of this partnership to enable Mobile Edge Computing (MEC) capabilities and guarantee 5G coverage throughout the main campus.
Global Edge AI Market Drivers:
- Increasing demand for edge AI in the healthcare industry is anticipated to propel the market growth
The major market players are attempting to organize and create new technological advancements. Furthermore, the healthcare sector will benefit from the high performance and acceleration provided by the integration of this technology. For instance, Nvidia extended the use of its Edge Artificial Intelligence technology for robotics and healthcare in September 2022. The Nvidia IGX Platform aims to accelerate performance and extract real-time insights for use in both industrial and medical use cases.
Global Edge AI Market Geographical Outlook
- North America is witnessing exponential growth during the forecast period
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Industry and Market Insights, Opportunity Assessment, Product Demand Forecasting, Market Entry Strategy, Geographical Expansion, Capital Investment Decisions, Regulatory Framework & Implications, New Product Development, Competitive IntelligenceReport Coverage:
- Historical data & forecasts from 2022 to 2029
- Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
- Competitive Positioning, Strategies, and Market Share Analysis
- Revenue Growth and Forecast Assessment of segments and regions including countries
- Company Profiling (Strategies, Products, Financial Information, and Key Developments among others)
The Global Edge AI market is segmented and analyzed as follows:
- By Component
- Services
- Solutions
- By Data Sources
- Mobile Data
- Sensor Data
- Biometric Data
- Speech, Video, and Image Recognition
- By Application
- Video Surveillance
- Access Management
- Autonomous Vehicles
- Energy Management
- Others
- By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- UK
- Germany
- France
- Spain
- Others
- Middle East and Africa
- Saudi Arabia
- Israel
- Others
- Asia Pacific
- Japan
- China
- India
- South Korea
- Others
- North America
Table of Contents
1. INTRODUCTION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
5. GLOBAL EDGE AI MARKET BY COMPONENT
6. GLOBAL EDGE AI MARKET BY DATA SOURCES
7. GLOBAL EDGE AI MARKET BY APPLICATION
8. GLOBAL EDGE AI MARKET BY GEOGRAPHY
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
10. COMPANY PROFILES
Companies Mentioned
Some of the key companies profiled in this Global Edge AI Market report include:- Microsoft Corporation
- Alphabet Inc.
- Amazon
- IBM Corporation
- Apple
- Intel
- Anagog Ltd.
- Nutanix
- Octonion SA.
- Synaptics Incorporated
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 120 |
Published | September 2024 |
Forecast Period | 2024 - 2029 |
Estimated Market Value ( USD | $ 23.57 billion |
Forecasted Market Value ( USD | $ 59.98 billion |
Compound Annual Growth Rate | 20.5% |
Regions Covered | Global |
No. of Companies Mentioned | 11 |