What Has Been The Evolution of the Edge Artificial Intelligence Market in Recent Years?
The edge artificial intelligence market has seen considerable growth due to a variety of factors.
• The rapid expansion of the edge artificial intelligence market size in recent years has been remarkable. The market, which is projected to increase from $24.48 billion in 2024 to $30.56 billion in 2025, is expected to enjoy a compound annual growth rate (CAGR) of 24.8%.
Reasons for this growth during the historic period include the increasing presence of IoT devices, the surging demand for edge computing, a dramatic rise in edge-based applications, the emergence of smart cities, and escalating requirements for real-time processing.
How Will the Edge Artificial Intelligence Market?
The edge artificial intelligence market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for substantial expansion in the size of the edge artificial intelligence market in the coming years. The projected growth will see the market surge to $78.25 billion by 2029, growing at a compound annual rate (CAGR) of 26.5%.
The expected growth during this period stems from factors such as the extensive application of edge ai in healthcare, the rapid expansion of edge ai in the retail industry, regulatory backing for edge computing, a burgeoning edge ai ecosystem, and the increasing complexity of ai tasks. The main trends predicted for the forecasted period include technological progression, innovative products, enhancements in edge ai security, chiplet integration, and the use of federated learning techniques.
Which Factors Are Boosting Growth In The Edge Artificial Intelligence Market?
The advancement of 5G, or fifth-generation network technology, is propelling the growth of the edge artificial intelligence sector. 5G is the latest iteration of mobile network technology, specially designed to facilitate more dependable and rapid communication for mobile devices. It also serves to introduce new applications and services. The uptake of 5G technology is on the rise due to its superior speeds, reduced latency, and capacity to support a burgeoning number of connected devices. This attributes advancements in areas such as IoT, healthcare, and self-driving vehicles. The establishment of 5G networks considerably amplifies the functionalities and advantages of Edge Artificial Intelligence (Edge AI) by offering speedier and more trustworthy communication amongst edge devices and the cloud. For example, T-Mobile International AG, a mobile telecommunications firm based in Germany, reported in February 2023, that over 1 billion active 5G subscriptions were present in 2023, with an expectation that 5 billion people will have 5G subscriptions by 2028. Consequently, the evolution of 5G networks is fuelling the edge artificial intelligence market.
What Key Areas Define The Segmentation Of The Global Edge Artificial Intelligence Market?
The edge artificial intelligence market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Deployment Mode: On-Premise, Cloud-Based
3) By Data Sources: Mobile Data, Sensor Data, Biometric Data, Speech, Video And Image Recognition
4) By Application: Video Surveillance, Access Management, Autonomous Vehicles
5) By End-Use Industry: IT And Telecom, Automotive
Subsegments:
1) By Hardware: Edge Devices, Edge Servers, Specialized AI Chips
2) By Software: AI Algorithms, Edge AI Platforms, Application Software
3) By Services: Consulting Services, System Integration, Support And Maintenance Services
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What New Trends Are Influencing The Edge Artificial Intelligence Market?
Leading corporations in the edge artificial intelligence industry are pursuing innovative technologies like AI Services at the Edge to maintain their market dominance. AI Services at the Edge means enabling artificial intelligence features directly on edge devices, close to where the data is produced, substituting the traditional reliance on centralized cloud-based solutions. For example, Macrometa, an IT company based in the US, introduced a suite of edge services called PhotonIQ in October 2023. PhotonIQ aims to offer more efficient, more swiftly, and better-secured digital experiences in sectors like eCommerce, gaming, financial services, among others. These on-time AI services provide businesses with myriad advantages such as better website performance and Lighthouse scores, improved search and personalization services for users, along with enhanced security and reliability during high traffic times. PhotonIQ boosts dynamic data and application performance by integrating AI at the edge and can be swiftly incorporated with Content Delivery Networks like Akamai for fast enterprise deployment in under 60 days.
Who Are the Key Players In The Edge Artificial Intelligence Market?
Major companies operating in the edge artificial intelligence market report are:
• Alphabet Inc.
• Google
• Microsoft Corporation
• Amazon Web Services
• International Business Machines Corporation
• NVIDIA Corporation
• BaiduInc.
• Intel Corporation
• Renesas Electronics Corporation
• NutanixInc.
• Synaptics Incorporated
• ADTRANInc.
• ClouderaInc.
• TIBCO Software Inc.
• DataRobotInc.
• Bragi GmbH
• Tact.ai TechnologiesInc.
• Gorilla Technology Group
• Azion Technologies
• Veea Inc.
• FogHorn SystemsInc.
• ClearBladeInc.
• Octonion SA
• Anagog Ltd.
• Dori AI
• Adapdix
• SWIM.AI Inc.
• Avassa
• Imagimob AB
• XNOR.AI
What Is The Most Dominant Region In The Edge Artificial Intelligence Market?
North America was the largest region in the edge artificial intelligence market in 2024. The regions covered in the edge artificial intelligence market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
