According to IMARC Group latest report titled “Edge AI Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on edge AI market outlook. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global edge AI market size reached US$ 15.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 70.9 Billion by 2032, exhibiting a growth rate (CAGR) of 18.5% during 2024-2032.
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Edge AI Market Overview:
Edge AI refers to the deployment of artificial intelligence algorithms directly on a local device, processing data at the source rather than relying on a centralized server. This approach utilizes hardware that is specifically designed to perform AI computations efficiently, often through specialized chips and processors. The manufacturing of these devices involves integrating advanced AI capabilities into compact forms that can operate independently or with minimal connectivity. The importance of Edge AI lies in its ability to provide quick responses by reducing latency, minimizing bandwidth use, enhancing data privacy, and enabling operation in remote areas. The benefits of Edge AI include increased efficiency, lower costs due to reduced data transmission, and improved security, as sensitive data does not need to be sent over the network.
Edge AI Market Trends:
The global market is primarily driven by the augmenting demand for swift, on-site processing in applications like autonomous vehicles, smart cities, and IoT devices. These applications rely on immediate data processing to function effectively, making edge AI essential for their advancement. Additionally, the increasing focus on privacy and data security has propelled the adoption of edge AI, as it allows data to be processed locally, minimizing the risk of data breaches associated with cloud computing. Moreover, the shifting trends towards sustainable and energy-efficient computing solutions are creating a positive market outlook.
Furthermore, the ongoing development of 5g technology enhances the capabilities of edge AI by enabling faster data transfer rates and improved connectivity, supporting more complex applications that are impelling the market. In line with this, rise in partnerships between AI technology providers and hardware manufacturers, aiming to integrate AI capabilities into various consumer and industrial devices, thereby broadening the scope and reach of edge AI solutions.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- ADLINK Technology Inc.
- Alphabet Inc.
- com Inc.
- Anagog Ltd.
- Gorilla Technology Group
- International Business Machines Corporation
- Intel Corporation
- Microsoft Corporation
- Nutanix Inc.
- Synaptics Incorporated
- ai
Edge AI Market Segmentation:
Our report has categorized the market based on the region, component and industry.
Component Insights:
- Hardware
- Network
- Edge Cloud Infrastructure
- Software
- Support Services
Industry Insights:
- BSFI
- Government and Utilities
- Telecom and IT
- Healthcare
- Real Estate
- Retail and E-Commerce
- Travel and Hospitality
- Others
Regional Insights:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, South Korea, Others)
- Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others)
- Middle East and Africa (Turkey, Saudi Arabia, Iran, United Arab Emirates, Others)
Key Highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About US:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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