USD 15.60 Billion
Edge Artificial Intelligence (AI) Market Size, Share, Growth Analysis, By Component(Hardware, Software, Network, Edge Cloud Infrastructure), By End Use Industry(Automotive, Manufacturing, Healthcare, Energy & Utility), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG45A2309 |
Region:
Global |
Published Date: June, 2024
Pages:
197
|Tables:
134
|Figures:
74
Edge Artificial Intelligence (AI) Market Insights
Edge Artificial Intelligence (AI) Market size was valued at USD 20.55 Billion in 2023 and is poised to grow from USD 27.06 Billion in 2024 to USD 244.9 Billion by 2032, growing at a CAGR of 31.7% during the forecast period (2025-2032).
Integrating two advanced technologies to create an even better technology is a trend that is quite common these days. High adoption of cloud technologies and the growing use of edge computing are key factors promoting the demand for edge artificial intelligence (AI) over the coming years. Advancements in artificial intelligence technologies and the rising use of connected devices will also create new opportunities for edge artificial intelligence (AI) companies going forward. Integration with 5G networks and rising emphasis on the development of smart cities are also expected to be key trends that will help edge artificial intelligence (AI) companies maximize their business scope across the study period and beyond. However, limited processing capabilities, data management issues, and complexity of integration are estimated to impede edge artificial intelligence (AI) market development potential through 2031.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Hardware
Fastest Growth
Software
Growth Rate
31.7% CAGR
Global Edge Artificial Intelligence (AI) Market ($ Bn)
Country Share for North America Region (%)
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Edge Artificial Intelligence (AI) Market Segmental Analysis
Global edge artificial intelligence (AI) market is segmented based on the component, end use industry, and region. In terms of component, the market is segmented into hardware, software, network, edge cloud infrastructure, and services. Based on end use industry, the market is divided into automotive, manufacturing, healthcare, energy & utility, retail & consumer goods, IT & telecom, and others. Based on region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Component
Hardware components are projected to bring in the most revenue for edge artificial intelligence (AI) companies over the coming years. Edge AI solutions require special hardware that is capable of handling complex AI algorithms yet be compact enough to be used in small edge devices. Growing investments in the research and development of new edge AI hardware components are also expected to help the dominance of this segment going forward.
The demand for edge AI software is projected to increase at an impressive CAGR across the forecast period and beyond. Edge AI software that allows users to run AI algorithms locally on their devices will be high in demand and help this segment emerge as the fastest-growing one in the market. Software that can leverage and maximize the benefits of AI and edge technologies will be highly sought-after in the future.
Analysis by End Use Industry
IT & telecommunication industry is projected to spearhead the demand for edge artificial intelligence (AI) over the coming years. The growing use of edge and AI technologies coupled with growing availability of 5G networks are also contributing to the high market share of this segment. There is always high demand for better processing and low latency in the IT industry to maximize efficiency which is also expected to help this segment bolster market growth across the study period.
Rapid digitization of the healthcare industry has made it a highly opportune segment for edge artificial intelligence (AI) providers. Growing need for remote patient care and rising popularity of home healthcare are also estimated to create new opportunities for edge artificial intelligence (AI) market players in the future. High demand for advanced technologies in healthcare and growing use of telehealth and telemedicine practices will also boost market growth at a rapid pace going forward.
Global Edge Artificial Intelligence (AI) Market By Component
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Edge Artificial Intelligence (AI) Market Regional Insights
Supportive government initiatives to promote the adoption of artificial intelligence in almost all industry verticals are helping North America lead the global edge artificial intelligence (AI) market growth. The presence of key edge AI companies such as IBM, Nvidia, and Amazon is also expected to help the dominance of this region going forward. Rising availability of novel edge artificial intelligence (AI) solutions and high adoption of automation across multiple verticals will also help foster new opportunities in this region. Canada and the United States are anticipated to be the most opportune markets in this region.
On the other hand, the Asia Pacific region is expected to emerge as the fastest-expanding market for edge artificial intelligence (AI) providers on a global level. China, India, Japan, and South Korea are slated to be the most rewarding markets for edge artificial intelligence (AI) companies operating in this region. Edge AI solutions for manufacturing applications are projected to be highly coveted in this region. Rapid digitization of multiple industry verticals and urbanization are also projected to help promote the demand for edge artificial intelligence (AI) in the Asia Pacific region through 2031 and beyond.
Global Edge Artificial Intelligence (AI) Market By Region
- Largest
- Fastest
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Edge Artificial Intelligence (AI) Market Dynamics
Drivers
Demand for Improved Data Processing Capabilities
- Deployment of edge AI solutions helps in providing better data processing and even real-time data processing capabilities for multiple applications where immediate response is required. Automated cars and industrial automation are prime examples where edge AI finds robust applications.
Reduced Latency
- High bandwidth and reduced latency solutions are gaining massive traction on a global level. Edge AI solutions offer just this and provide an improved response in multiple industry verticals thereby driving market growth.
Restraints
Limited Processing Power
- While edge AI solutions reduce latency in processing, there is only a certain limit of processing power that edge devices can handle. This is often very less compared to centralized processing servers, which makes it a challenge to run complex AI algorithms on edge devices and slows down market development potential.
Complexity in Data Management
- Managing data across multiple edge platforms and devices can be challenging and result in inconsistencies in data privacy and security regulations. This complexity is projected to hurt edge artificial intelligence (AI) demand outlook in the future.
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Edge Artificial Intelligence (AI) Market Competitive Landscape
Edge artificial intelligence (AI) companies are estimated to focus on capitalizing on the rising use of edge computing and artificial intelligence technologies. Device miniaturization and the development of custom edge AI solutions are also expected to offer new opportunities for edge artificial intelligence (AI) companies in the future. Advancements in connected devices and Internet of Things (IoT) technologies are also expected to play a vital role in future edge artificial intelligence (AI) market development. Collaborations will also be highly popular among edge artificial intelligence (AI) providers looking to make a mark in this landscape.
Edge Artificial Intelligence (AI) Market Top Player’s Company Profiles
- Samsung Electronics Co., Ltd. (South Korea)
- Siemens AG (Germany)
- NEC Corporation (Japan)
- Advanced Micro Devices, Inc. (AMD) (US)
- Huawei Technologies Co., Ltd. (China)
- NVIDIA Corporation (US)
- Amazon Web Services (AWS) (US)
- Baidu, Inc. (China)
- Cisco Systems, Inc. (US)
- Minima Global Ltd. (UK)
- Accenture PLC (Ireland)
- MediaTek Inc. (Taiwan)
- Dell Technologies Inc. (US)
- SAP SE (Germany)
- Xilinx, Inc. (US)
- Fujitsu Limited (Japan)
- Intel Corporation (US)
- Qualcomm Inc. (US)
- Renesas Electronics Corporation (Japan)
Edge Artificial Intelligence (AI) Market Recent Developments
- A Japanese company called EdgeCortix Inc. focused on the development of unique AI solutions, announced the launch of its new accelerator to support generative AI applications at Edge in June 2024. SAKURA-II Edge AI accelerator when combined with EdgeCortix’s dynamic neural accelerator (DNA) becomes a unified solution for edge AI users.
- In January 2024, Microsoft teamed up with Mangata Networks to develop a new edge AI cloud product that uses satellite connectivity. Microsoft’s cloud platform expertise and Mangata’s connectivity expertise will be brought together through this move thereby helping Microsoft bolster its share in the global edge AI market.
Edge Artificial Intelligence (AI) Key Market Trends
- Smart Cities: Investments in the development of smart cities are increasingly rapidly around the world. Launch of several new smart city programs and initiatives by governments will also create an opportune setting for edge artificial intelligence (AI) companies in the long run.
Edge Artificial Intelligence (AI) Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, advancements in artificial intelligence technologies and growing adoption of edge computing are estimated to set the tone for edge artificial intelligence (AI) market growth over the coming years. Growing investments in bandwidth optimization and high demand for low latency are also expected to bolster edge artificial intelligence (AI) demand outlook in the future. On the contrary, limited processing power and data management challenges are predicted to slow down market growth. The Asia Pacific region is emerging as the fastest-expanding market for edge artificial intelligence (AI) in the world owing to high investments in the adoption of automation and connected devices. Development of custom edge artificial intelligence (AI) solutions for smart city applications will pay off big time for market players in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 15.60 Billion |
| Market size value in 2031 | USD 185.95 Billion |
| Growth Rate | 31.7% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Edge Artificial Intelligence (AI) Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Edge Artificial Intelligence (AI) Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Edge Artificial Intelligence (AI) Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Edge Artificial Intelligence (AI) Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Edge Artificial Intelligence (AI) Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Edge Artificial Intelligence (AI) Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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