The latest report by IMARC Group, titled “Edge AI Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032,” offers a comprehensive analysis of the edge AI market growth. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
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.
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Edge AI Market Overview:
Edge AI refers to the deployment of artificial intelligence (AI) algorithms directly on a physical device, rather than relying on cloud computing or data centers for processing. This approach enables real-time data processing at the source of data generation, such as smartphones, IoT devices, and industrial machines. The manufacturing of edge AI involves embedding sophisticated AI models into compact, efficient hardware capable of performing complex computations with minimal latency.
The importance of Edge AI stems from its ability to deliver instant insights and actions without the need for constant internet connectivity, reducing data transmission costs and enhancing privacy and security. Benefits include real-time processing, reduced latency, increased reliability, and the ability to operate in remote locations.
Edge AI Market Trends:
The global market is primarily driven by the increase in IoT devices generating vast amounts of data that necessitate immediate processing, and the growing emphasis on data privacy which Edge AI addresses by processing data locally. Additionally, a growing number of industries are recognizing the importance of edge AI in enabling autonomous operations, particularly in remote and challenging environments where connectivity may be limited which is bolstering the market. Moreover, the market growth is supported by the development of energy-efficient AI chips and the increasing adoption of 5g technology, which together facilitate the deployment of edge AI solutions impelling market growth.
Furthermore, the shifting trends towards eco-friendly and sustainable practices are also influencing the market, as companies seek greener alternatives to traditional data centers creating a positive market outlook. In line with this, rapid advancement in processing capabilities of edge devices, including smartphones and IoT devices, allows for more complex AI computations to be handled locally, driving the market forward.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- ADLINK Technology Inc.
- Alphabet Inc.
- com Inc.
- Anagog Ltd.
- Gorilla Technology Group
- International Business Machines Corporation
- Intel Corporation
- Microsoft Corporation
- Nutanix Inc.
- Synaptics Incorporated
- ai
Edge AI Market Segmentation:
Our report has categorized the market based on the component and industry.
Component Insights:
- Hardware
- Network
- Edge Cloud Infrastructure
- Software
- Support Services
Industry Insights:
- BSFI
- Government and Utilities
- Telecom and IT
- Healthcare
- Real Estate
- Retail and E-Commerce
- Travel and Hospitality
- Others
Regional Insights:
- North America (USA, Canada)
- Europe (Germany, France, UK, Italy, Spain, Russia, others)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, others)
- Middle East/Africa
- Latin America (Brazil, Mexico, others)
Key Highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About US:
IMARC Group is a leading market research firm that provides management strategy and market research worldwide. We work with clients in every sector and geography to identify their most valuable opportunities, address their most important challenges and transform their businesses.
The IMARC Group's information offerings include key market trends, scientific, economic and technological developments for business leaders in pharmaceutical, industrial and high technology sectors. Market forecasts and industry analysis in biotechnology, advanced materials, pharmaceuticals, food and beverages, travel and tourism, nanotechnology and innovative processing methods are among the company's top areas of expertise.
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