Global Edge Artificial Intelligence (AI) Market

Edge Artificial Intelligence (AI) Market Size, Share, Growth Analysis, By Component(Hardware, Network), By Application(Video Surveillance, Access Management), By End Use Industry(Automotive, Manufacturing) - Industry Forecast 2024-2031

Report ID: SQMIG45A2309 | Region: Global | Published Date: April, 2024
Pages: 197 | Tables: 95 | Figures: 74

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Edge Artificial Intelligence (AI) Market size was valued at USD 15.60 billion in 2022, USD 20.55 billion in 2023 and is projected to grow 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. 'Hewlett Packard Enterprise (HPE) (US)', 'Samsung Electronics Co., Ltd. (South Korea)', 'Siemens AG (Germany)', 'NEC Corporation (Japan)', 'Advanced Micro Devices, Inc. (AMD) (US)', '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 Ltd. (UK)', 'Accenture PLC (Ireland)', 'MediaTek Inc. (Taiwan)', 'Dell Technologies Inc. (US)', 'SAP SE (Germany)', 'Xilinx, Inc. (US)', 'Fujitsu Limited (Japan)'

For self-driving cars to operate effectively, real-time data communication to the cloud is required. Advanced machine learning and artificial intelligence technologies help these autonomous driving systems make decisions, which satisfies this need. Connecting to the edge, autonomous cars increase productivity, lower accident rates, boost security, and ease traffic congestion.

Increased digital dependence in Edge Artificial Intelligence (AI) in industry 4.0: With the integration of cutting-edge technologies like artificial intelligence (AI), the Internet of things (IoT), cloud computing, and automation to build "smart factories" and facilitate data-driven decision-making, Industry 4.0 marks a paradigm shift in manufacturing and industrial processes. By processing data closer to its source, usually within edge devices or at the edge of the network, edge AI plays a critical role in Industry 4.0 by lowering latency, improving real-time insights, and enabling autonomous operations.

Due in large part to the region's businesses, particularly those in the United States, placing a high priority on implementing cutting-edge technologies like artificial intelligence (AI), deep learning, and machine learning, North America accounted for the largest share of the market. The national implementation of artificial intelligence technology is the primary emphasis of the U.S. government. Due to the increasing demand for these solutions in the manufacturing, automotive, energy & utility, and other sectors in the United Kingdom, Germany, France, and Italy, Europe is anticipated to represent a significant portion of the market. Players in the market are allocating significant resources to research and development in order to concentrate on the creation of these solutions.

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