Edge Artificial Intelligence Market 2024 -2033: Global Outlook, Industry Share, Business Growth And Major Players

The edge artificial intelligence market size has grown exponentially in recent years. It will grow from $19.46 billion in 2023 to $24.48 billion in 2024 at a compound annual growth rate (CAGR) of 25.8%. The growth in the historic period can be attributed to rise of iot devices, increased demand for edge computing, surge in edge-based applications, rise of smart cities, demand for real-time processing.

The edge artificial intelligence market size is expected to see exponential growth in the next few years. It will grow to $61.63 billion in 2028 at a compound annual growth rate (CAGR) of 26.0%. The growth in the forecast period can be attributed to increasing edge ai in healthcare, rapid growth of edge ai in retail, regulatory support for edge computing, growing edge ai ecosystem, increasing complexity of ai workloads. Major trends in the forecast period include technology advancements, product innovations, edge ai security enhancements, chiplet integration, federated learning techniques.

Market Overview -
Edge Artificial Intelligence refers to the deployment of artificial intelligence (AI) algorithms and models directly on edge devices near the source of data generation rather than relying on centralized cloud-based processing. Edge AI offers several advantages over traditional cloud-based AI, which include improved bandwidth utilization, reduced latency, enhanced security and privacy, and offline functionality.

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5G Network Expansion Fuels The Growth Of The Edge Artificial Intelligence Market
The expansion of 5G networks is driving the edge artificial intelligence market going forward. 5G, or fifth-generation, refers to the latest generation of mobile network technology designed to provide faster and more reliable communication for mobile devices, as well as enable new applications and services. The deployment of 5G networks significantly enhances the capabilities and benefits of Edge Artificial Intelligence (Edge AI) by providing faster and more reliable communication between edge devices and the cloud. For instance, in February 2023, according to T-Mobile International AG, a Germany-based mobile telecommunications company, there were more than 1 billion active 5G subscriptions in 2023, and 5 billion individuals are expected to have 5G subscriptions by the end of 2028. Therefore, the expansion of 5G networks is driving the market for edge artificial intelligence market.

Competitive Landscape -
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, Baidu, Inc., Intel Corporation , Renesas Electronics Corporation, Nutanix, Inc. , Synaptics Incorporated, ADTRAN, Inc., Cloudera, Inc., TIBCO Software Inc., DataRobot, Inc., Bragi GmbH, Tact.ai Technologies, Inc., Gorilla Technology Group, Azion Technologies, Veea Inc., FogHorn Systems, Inc., ClearBlade, Inc., Octonion SA, Anagog Ltd., Dori AI, Adapdix, SWIM.AI Inc, Avassa, Imagimob AB, XNOR.AI

Leading Companies Drive Innovation With AI Services At The Edge In Edge Artificial Intelligence Sector
Major companies operating in the edge artificial intelligence sector are focused on technological advancements such as AI Services at the Edge to sustain their position. AI Services at the Edge refer to providing artificial intelligence capabilities directly on edge devices, closer to the point where data is generated, rather than relying on centralized cloud-based solutions. For instance, in October 2023, Macrometa, a US-based information technology company, launched PhotonIQ, a suite of edge services designed to deliver faster, more efficient, and more secure digital experiences in eCommerce, gaming, financial services, and more. These real-time AI services help businesses achieve several benefits, including increased website performance and Lighthouse scores, improved search and personalization experiences for users, and increased security and dependability during periods of high traffic. PhotonIQ enhances dynamic data and application performance with AI at the edge, seamlessly integrating with CDNs like Akamai for rapid enterprise deployment in under 60 days.

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Key Segments -
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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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