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Edge AI Market - Forecasts from 2024 to 2029

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    Report

  • 120 Pages
  • September 2024
  • Region: Global
  • Knowledge Sourcing Intelligence LLP
  • ID: 6014308
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.

Global Edge AI Market Drivers:

  • Increasing demand for edge AI in the healthcare industry is anticipated to propel the market growth
The healthcare industry is seeing a sharp rise in the use of artificial intelligence applications because these technologies yield accurate results. Applications include electroceuticals, robotics-assisted surgery, image analysis, and virtual diagnostics. These instruments enable doctors to consult with patients remotely and assist healthcare organizations in analyzing health data. Additionally, edge-based cybersecurity is employed to protect private medical information.
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
The rapid expansion of North American markets can be attributed to companies in the region adopting sophisticated technologies like artificial intelligence and machine learning. Moreover, AI technology is getting national attention from the U.S. government as its main goal. For example, in March 2024, the AI solutions provider Innodisk demonstrated its expertise in integrating edge AI at NVIDIA GTC in the United States. With a focus on delivering customizable AI solutions available to various industries, Innodisk actively shares its research and real-world edge AI implementations globally. The company highlights useful applications across industries by showcasing how its camera modules seamlessly integrate with NVIDIA's specialized AI visual technology.

Reasons for buying this report::

  • Insightful Analysis: Gain detailed market insights covering major as well as emerging geographical regions, focusing on customer segments, government policies and socio-economic factors, consumer preferences, industry verticals, other sub- segments.
  • Competitive Landscape: Understand the strategic maneuvers employed by key players globally to understand possible market penetration with the correct strategy.
  • Market Drivers & Future Trends: Explore the dynamic factors and pivotal market trends and how they will shape up future market developments.
  • Actionable Recommendations: Utilize the insights to exercise strategic decision to uncover new business streams and revenues in a dynamic environment.
  • Caters to a Wide Audience: Beneficial and cost-effective for startups, research institutions, consultants, SMEs, and large enterprises.

What do businesses use our reports for?

Industry and Market Insights, Opportunity Assessment, Product Demand Forecasting, Market Entry Strategy, Geographical Expansion, Capital Investment Decisions, Regulatory Framework & Implications, New Product Development, Competitive Intelligence

Report 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

Table of Contents

1. INTRODUCTION
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.5. Currency
1.6. Assumptions
1.7. Base and Forecast Years Timeline
1.8. Key Benefits to the Stakeholder
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Research Processes
3. EXECUTIVE SUMMARY
3.1. Key Findings
3.2. CXO Perspective
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
4.5. Analyst View
5. GLOBAL EDGE AI MARKET BY COMPONENT
5.1. Introduction
5.2. Services
5.3. Solutions
6. GLOBAL EDGE AI MARKET BY DATA SOURCES
6.1. Introduction
6.2. Mobile Data
6.3. Sensor Data
6.4. Biometric Data
6.5. Speech, Video, and Image Recognition
7. GLOBAL EDGE AI MARKET BY APPLICATION
7.1. Introduction
7.2. Video Surveillance
7.3. Access Management
7.4. Autonomous Vehicles
7.5. Energy Management
7.6. Others
8. GLOBAL EDGE AI MARKET BY GEOGRAPHY
8.1. Introduction
8.2. North America
8.2.1. By Component
8.2.2. By Deployment
8.2.3. By Application
8.2.4. By Country
8.2.4.1. USA
8.2.4.2. Canada
8.2.4.3. Mexico
8.3. South America
8.3.1. By Component
8.3.2. By Deployment
8.3.3. By Application
8.3.4. By Country
8.3.4.1. Brazil
8.3.4.2. Argentina
8.3.4.3. Others
8.4. Europe
8.4.1. By Component
8.4.2. By Deployment
8.4.3. By Application
8.4.4. By Country
8.4.4.1. UK
8.4.4.2. Germany
8.4.4.3. France
8.4.4.4. Spain
8.4.4.5. Others
8.5. Middle East and Africa
8.5.1. By Component
8.5.2. By Deployment
8.5.3. By Application
8.5.4. By Country
8.5.4.1. Saudi Arabia
8.5.4.2. Israel
8.5.4.3. Others
8.6. Asia Pacific
8.6.1. By Component
8.6.2. By Deployment
8.6.3. By Application
8.6.4. By Country
8.6.4.1. Japan
8.6.4.2. China
8.6.4.3. India
8.6.4.4. South Korea
8.6.4.5. Others
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Market Share Analysis
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Competitive Dashboard
10. COMPANY PROFILES
10.1. Microsoft Corporation
10.2. Alphabet Inc.
10.3. Amazon
10.4. IBM Corporation
10.5. Apple
10.6. Intel
10.7. Anagog Ltd.
10.8. Nutanix
10.9. Octonion SA.
10.10. Synaptics Incorporated

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