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


Report ID: SQMIG45A2309 | Region: Global | Published Date: June, 2024
Pages: 197 |Tables: 80 |Figures: 74

Edge Artificial Intelligence (AI) Market Insights

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). 

The term "edge AI" describes the application of artificial intelligence algorithms on edge devices—such as embedded systems, smartphones, and Internet of Things devices—that are situated near data sources. Edge AI handles data locally as opposed to standard cloud-based AI, which eliminates the requirement for continuous data transfer to and from a centralized server. Numerous benefits come with this method, such as less latency, less bandwidth used, increased privacy, and better operational efficiency. Within the larger AI and IoT industries, the Edge AI industry is a growing component. The market is expanding quickly, which is explained by the rising demand for artificial intelligence (AI) applications that are decentralized, low-latency processing, and energy-efficient computes. 

The Edge AI market is expected to increase significantly soon due to several important considerations and opportunities. The expanding number of IoT devices, developments in AI and machine learning, and the growing demand for real-time data processing and analysis are the main factors propelling this rise. Large volumes of data have been produced by the explosion in connected devices, which calls for effective local processing to reduce latency and bandwidth consumption. This requirement is especially important for applications where making decisions in real time is crucial, such infrastructure for smart cities, healthcare monitoring, and autonomous cars. Another important factor is the use of 5G technology, which improves connectivity and data transmission rates, increasing the viability and efficiency of Edge AI systems.

Market Snapshot - 2024-2031

Global Market Size

USD 15.60 Billion

Largest Segment

Hardware

Fastest Growth

Software

Growth Rate

31.7% CAGR

Global Edge Artificial Intelligence Market ($ Bn)
Country Share for North America Region (%)

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Edge Artificial Intelligence (AI) Market Segmental Analysis

The edge artificial intelligence (AI) market is segmented based on component, end use industry, and regional type. In terms of components, the market is segmented into Hardware (Device [Smartphone, Surveillance Cameras, Robots, Wearables, Edge Servers, Smart Speakers, Automobiles, Other Devices]). Power Consumption [Less Than 1W, 1-3W, 3-5W, 5-10W, More Than 10W], Processor [CPU, GPU, ASIC, Other]). (Function [Training, Inference]). Software (Offerings [Solutions {By type (Standalone, Integrated), {By Deployment (On-premises, Cloud)}, [Services {Professional Services (Training & consulting, System integration & testing, Support & maintenance}, Managed Services. (Data Type [Video and Image Data Object Detection & Recognition, Facial Recognition, Visual Inspection, Other Video & Image Data Applications], Audio Data Text & Language Data [Speech Recognition, Sound Anomaly Detection, Voice Assistants, Other Audio Data Applications], Text & Language Data [Natural Language Processing, Sentiment Analysis, Chatbots & Virtual Assistants, Other Text & Language Data Applications] Environmental & Location Data [Geospatial Analysis, Weather Prediction , Air Quality Monitoring , Other Environmental & Location Data Applications]Biometric Data [Fingerprint Recognition, Iris & Retina Scanning, Biometric Authentication, Other Biometric Data Applications], Multi-Modal Data [Integration Of Sensors, Integration Of Text & Visual Data, Other Multi-modal Data Applications], Edge Cloud Infrastructure, Services. In terms of end use industry, the market is segmented into Consumer Electronics (By Device [smartphones, wearables, entertainment robots, Smart Homes [By Device {smart speakers, smart cameras, domestic robots, Automotive & Transportation [By Device {automobile parts, surveillance cameras, logistics robots, other automotive & transportation devices], Government [By Device {surveillance cameras, drones}, Healthcare [By Device, {Medical Robots, Wearables, Other Healthcare Devices}, Industrial   [By Device {Industrial robots, Drones, Mv Cameras}, Aerospace & Defense [By Device {Service Robots, Other Aerospace & Defense Devices}, Construction [By Device, Service Robots, Drones], Other Verticals  [By Device,{Surveillance Cameras, Professional Service Robots, Wearables, Other Devices},[Edge Servers, Drones]. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.  

Analysis by Component 

As per categorization by component, the market is classified as hardware, software, and edge cloud infrastructure. Among these, hardware earned the largest share and continues to dominate the market. To run edge AI applications, hardware elements such as processors, accelerators, and sensors are required. Processing power, customization for artificial intelligence (AI) workloads, reduced latency for real-time processing, energy efficiency and adaptability across applications, and steady technological developments are some of the elements that contribute to this supremacy. The demand for sophisticated and specialized hardware components is still high, supporting the dominance of the hardware market as edge AI applications spread throughout industries. 

The software segment of the edge AI market is poised for substantial growth, projected to achieve a compound annual growth rate (CAGR) of 23.7% over the forecast period. The advent of 5G technology is a key driver, facilitating the establishment of data centers at the edge and the deployment of industry-specific networks through software-defined networking principles. This advancement is expected to significantly increase the volume of data transferred to data centers, thereby boosting the demand for intermediary servers or edge networks. Edge AI software provides real-time data processing capabilities without the need for constant internet connections, driving the expansion of the software sector within the edge AI market. 

Analysis by End Use Industry 

The IT & telecom segment is the dominant sector in the edge AI market, holding the largest revenue share of 21.4% in 2023. The rapid deployment of 5G networks has significantly increased the demand for edge AI solutions to manage vast amounts of data and ensure low-latency communication. IT & telecom companies are leveraging edge AI for network optimization, real-time data analytics, and enhancing customer experiences. The integration of AI at the network edge is crucial for supporting advanced applications like autonomous driving, smart cities, and IoT devices. For instance, in March 2023, HFCL Limited partnered with Microsoft to develop private 5G solutions for businesses in various industries. This sector’s early adoption of edge AI technologies and substantial infrastructure investments solidify its leading market position. 

The healthcare segment is experiencing the fastest growth in the edge AI market. The proliferation of wearable devices, telemedicine, and remote patient monitoring systems has driven the demand for real-time data processing capabilities. Edge AI enables healthcare providers to analyze patient data instantly, leading to timely and more accurate diagnoses, personalized treatment plans, and improved patient outcomes. The COVID-19 pandemic has accelerated the adoption of these technologies, highlighting the importance of resilient and scalable healthcare solutions. This segment is expected to continue its rapid expansion as the industry increasingly integrates AI to enhance clinical decision-making and operational efficiency.

Global Edge Artificial Intelligence Market By Component

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Edge Artificial Intelligence (AI) Market Regional Insights

Edge Artificial Intelligence Market is currently led by North America. North America dominated the market primarily for two reasons: First, since the various industries or companies, especially in the United States, have increasingly focused on the adoption of new technologies including artificial intelligence, deep learning and machine learning; second, due to the shifted trends towards implementing new technologies, including artificial intelligence, deep learning, and machine learning among various industries or companies in the region. The idea of Americanization of a national artificial technology implementation is the primary focus of the United States government advanced today. This is expected because there is rising demand for these solutions within the manufacturing, automotive, energy & utility and other industries in the United Kingdom, Germany, France, and Italy and so Europe is expected to have a big market for this solution. Market participants are investing a large amount of money in R and D, with the aim of focusing on the development of such solutions. 

Asia pacific is expected to show significant growth during the forecasted period. Some of the major countries using information-intensive technologies of AI and ML in several fields and businesses include China, India, and Japan. Multinational firms are now taking their technologies deeper into emerging economies to offer unique service possibilities. The manufacturing and automotive industries are particularly emphasized by Japanese companies, who are pioneering the creation of new and highly advanced AI solutions. Such implementation of these technologies is boosted by increased funding and investments given to support growth in the advancement of the same. For example, Blaize’s collaboration with NEXTY Electronics of Japan shows that the Asia-Pacific region embraces innovative technologies and emerging, efficient AI designs operating with low latency and low power consumption.

Global Edge Artificial Intelligence Market By Region
  • Largest
  • Fastest

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Edge Artificial Intelligence (AI) Market Dynamics

Drivers 

Growing Need for Robotics and Autonomous Cars 

  • For the self-driving car to function competently, it is mandatory to have access to real-time data which will be later transmitted to the cloud. These are need through advanced machine learning and artificial intelligence technologies assist the autonomous driving systems in making these decisions. Self-driving linking to the extremity, self-driving cars raise efficiency, reduce the probability of the accident, enhance the safety, and alleviate the traffic jam. 

High Requirement for Processing Data in Real Time 

  • The growing demand for real-time data processing, which is essential in industries like industrial automation, healthcare, and autonomous cars, is the main driver of the Edge AI market. This necessity stems from the imperative need for quick decision-making and action-taking, which cannot withstand the delay associated with cloud-based data processing. Edge AI dramatically lowers latency by enabling data processing at the data source, improving operational responsiveness and efficiency. 

Restraints 

Security Vulnerabilities and Vulnerable Malware Infiltration to Obstruct 

  • Due to the cybersensitivity of the data they secure and store, Edge Al apps are vulnerable to security risks. It is one of the newer developments, and all industries overlook the lack of experience and understanding in this area. Furthermore, edge computing necessitates standardised units and is very dependent on hardware. The prototype requires a lot of effort to build and takes a while to implement in production. Additionally, there is a significant expense for training, personnel, and R&D. 

Challenges of Edge AI in Computing Constraints, Data Privacy, and Security 

  • A principal obstacle is the restricted computational capacity of edge devices in contrast to cloud servers, which limits the intricacy and scope of AI models that can be implemented. The processing of data locally on dispersed edge devices raises serious concerns about data privacy and security, requiring strong security measures to safeguard sensitive data.

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Edge Artificial Intelligence (AI) Market Competitive Landscape

The competitive landscape in the Edge AI industry is defined by the existence of major competitors fighting for market supremacy. To strengthen their positions in the market, these businesses engage in a range of strategic interactions, such as collaborations, acquisitions, regional expansion, and product development. Among the top companies in the Edge AI industry are Qualcomm, NVIDIA, IBM, Microsoft, Intel, and Google.

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

  • In March 2023, Minima Global Ltd. of Europe teamed up with Inferrix Limited, a software company based in the UK. Through this partnership, Minima's blockchain technology will be combined with Inferrix's AI and IoT edge capabilities. The goal of this strategic alliance is to develop unique Internet of Things technologies that ensure seamless, safe sensor interactions while preserving vital data integrity. 

  • In January 2024, KQC joined a uniqe partnership with IBM where IBM give KQC the right to assign and use the most advanced AI software, infrastructure and quantum computing services of IBM. With this partnership, KQC is poised to enable its ecosystem of users to leverage IBM’s extensive suite of AI offerings, including Watsonx, an AI and data catalyst that is dedicated to helping organizations learn about, optimize, and apply sophisticated AI models and enterprise applications. 

  • In January 2024, major tech firms increased the number of investments in edge computing, which elevated the edge AI market. Several new edge AI processors and platforms came into the market from companies like Intel, NVIDIA, Qualcomm with a high purpose of increasing intelligence and capacity of the edge devices. This rise in innovations can be attributed to the growing appreciation of the role of edge AI in enabling high and low automation and real-time decisions across many sectors. This has resulted in rises in competition and expansion in the market since the demand is high.

Edge Artificial Intelligence (AI) Key Market Trends

  • Increased Digital Dependence in Edge Artificial Intelligence (AI) in Industry 4.0: To establish smart factories, organizations have adopted advanced technologies such as AI, Internet of things, cloud computing, and automation to create stock, flooring, and composition “Industry 4. 0 marks the shift in design and industrial production. As a result, edge AI involves handling data closer to its source with little delegation to more centralized areas such as data centers or cloud premises and is instrumental to Industry 4. They include reducing latency, providing instantaneous information processing to enhance real time information and automation of network activities. 
  • AI Market Revolutionizing Real-Time Analytics, Convergence, and Security: At present, the market for Edge AI has few trends that are remarkable and are radically affecting it in terms of growth and development. One such development is the growing demand for fast and efficient response or real-time analysis and decision-making across the different organization sectors. This has put pressure on technologies like Edge AI solutions that allow for fast reactions with low latency. The confluence of cloud services and edge computing is another significant trend that offers improved scalability and resource utilization.

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, Edge AI market is driven by the growing need for real-time data processing, which is critical for sectors like industrial automation, healthcare, and autonomous vehicles. By enabling data processing at the source, Edge AI significantly reduces latency and improves operational responsiveness, facilitating quick decision-making and action-taking—both of which are necessary for efficient operation. Due to edge AI apps are still in their infancy and are dependent on hardware and lack industry experience, they present serious security risks. Additionally, issues like low processing power and privacy concerns prevent Edge AI apps from being widely used, which calls for strong security protocols and large expenditures on R&D and training.

Major firms including Qualcomm, NVIDIA, IBM, Microsoft, Intel use strategic activities like partnerships, acquisitions, and product development to fortify their market positions and compete for dominance in the intensely competitive Edge AI industry. With edge AI playing a critical role in processing data closer to its source, reducing latency, and enabling autonomous operations, Industry 4.0's integration of advanced technologies like AI, IoT, and automation is reshaping manufacturing processes and bringing about a significant shift in industry practices.

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
  • Component
    • Hardware (Device [Smartphone, Surveillance Cameras, Robots, Wearables, Edge Servers, Smart Speakers, Automobiles, Other Devices], Power Consumption [Less Than 1W, 1-3W, 3-5W, 5-10W, More Than 10W], Processor [CPU, GPU, ASIC, Other], Function [Training, Inference]), Software (Offerings [Solutions {By type (Standalone, Integrated)}, {By Deployment (On-premises, Cloud)}], Services [Professional Services {Training & consulting, System integration & testing, Support & maintenance}, Managed Services], Data Type [Video and Image Data {Object Detection & Recognition, Facial Recognition, Visual Inspection, Other Video & Image Data Applications}, Audio Data Text & Language Data {Speech Recognition, Sound Anomaly Detection, Voice Assistants, Other Audio Data Applications}], Text & Language Data [Natural Language Processing, Sentiment Analysis, Chatbots & Virtual Assistants, Other Text & Language Data Applications], Environmental & Location Data [Geospatial Analysis, Weather Prediction, Air Quality Monitoring, Other Environmental & Location Data Applications], Biometric Data [Fingerprint Recognition, Iris & Retina Scanning, Biometric Authentication, Other Biometric Data Applications], Multi-Modal Data [Integration of Sensors, Integration Of Text & Visual Data, Other Multi-modal Data Applications]), Edge Cloud Infrastructure and Services.
  • End Use Industry
    • Consumer Electronics Device (Smartphones, Wearables, Entertainment Robots), Smart Homes Device (Smart Speakers, Smart Cameras, Domestic Robots), Automotive & Transportation Device (Automobile Parts, Surveillance Cameras, Logistics Robots, Other Automotive & Transportation Devices), Healthcare Devices (Medical Robots, Wearables, Other Healthcare Devices), Industrial Device (industrial Robots, Drones, Mv Cameras), Aerospace & Defense device (service Robots, Other Aerospace & Defense Devices), Construction device (Service Robots, Drone), Other Verticals [By Device {Surveillance Cameras, Professional Service Robots, Wearables, Other Devices}, Edge Servers, Drones].
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
  • 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)
Customization scope

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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
  • 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
  • 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
  • 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(%)

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.

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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.

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FAQs

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). 

The competitive landscape in the Edge AI industry is defined by the existence of major competitors fighting for market supremacy. To strengthen their positions in the market, these businesses engage in a range of strategic interactions, such as collaborations, acquisitions, regional expansion, and product development. Among the top companies in the Edge AI industry are Qualcomm, NVIDIA, IBM, Microsoft, Intel, and Google. '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)'

For the self-driving car to function competently, it is mandatory to have access to real-time data which will be later transmitted to the cloud. These are need through advanced machine learning and artificial intelligence technologies assist the autonomous driving systems in making these decisions. Self-driving linking to the extremity, self-driving cars raise efficiency, reduce the probability of the accident, enhance the safety, and alleviate the traffic jam. 

Increased Digital Dependence in Edge Artificial Intelligence (AI) in Industry 4.0: To establish smart factories, organizations have adopted advanced technologies such as AI, Internet of things, cloud computing, and automation to create stock, flooring, and composition “Industry 4. 0 marks the shift in design and industrial production. As a result, edge AI involves handling data closer to its source with little delegation to more centralized areas such as data centers or cloud premises and is instrumental to Industry 4. They include reducing latency, providing instantaneous information processing to enhance real time information and automation of network activities. 

Edge Artificial Intelligence Market is currently led by North America. North America dominated the market primarily for two reasons: First, since the various industries or companies, especially in the United States, have increasingly focused on the adoption of new technologies including artificial intelligence, deep learning and machine learning; second, due to the shifted trends towards implementing new technologies, including artificial intelligence, deep learning, and machine learning among various industries or companies in the region. The idea of Americanization of a national artificial technology implementation is the primary focus of the United States government advanced today. This is expected because there is rising demand for these solutions within the manufacturing, automotive, energy & utility and other industries in the United Kingdom, Germany, France, and Italy and so Europe is expected to have a big market for this solution. Market participants are investing a large amount of money in R and D, with the aim of focusing on the development of such solutions. 

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