Edge Artificial Intelligence (AI) Market Size, Share, Growth Analysis, By Component(Hardware (Device [Smartphone, Surveillance Cameras, Robots, Wearables), By End Use Industry(Consumer Electronics Device (Smartphones, Wearables, Entertainment Robots), Smart Homes Device (Smart Speakers), By Region - Industry Forecast 2024-2031

Global Edge Artificial Intelligence (AI) Market size was valued at USD 15.60 Billion in 2022 and is projected to grow from USD 20.55 Billion in 2023 to reach USD 185.95 Billion by 2031, growing at a CAGR of 31.7% in the forecast period (2024-2031).  

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.  '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)'

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.   

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. 

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.