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Artificial Intelligence (AI) Edge Computing Market Size, Driving Factors, Growth Statistics, Competitive Landscape And Forecast To 2033
Artificial Intelligence (AI) Edge Computing Market Size
According to The Business Research Company's, the artificial intelligence (AI) edge computing market size has grown exponentially in recent years. It will grow from $16.73 billion in 2023 to $20.29 billion in 2024 at a compound annual growth rate (CAGR) of 21.3%. The growth in the historic period can be attributed to proliferation of IoT devices, advancements in edge computing technology, increasing demand for real-time data processing, growth of AI and machine learning applications, rising concerns over data privacy and security.
The artificial intelligence (AI) edge computing market size is expected to see rapid growth in the next few years. It will grow to $43.77 billion in 2028 at a compound annual growth rate (CAGR) of 15.6%. The growth in the forecast period can be attributed to expansion of 5G networks, adoption of edge AI in autonomous vehicles, emergence of Industry 4.0 initiatives, integration of AI into edge devices, accelerated deployment of edge computing infrastructure. Major trends in the forecast period include edge AI market consolidation, rise of edge AI as a service (AIAAS), shift towards decentralized AI architectures, rise of hybrid edge-cloud computing models, increasing focus on edge AI sustainability and energy efficiency.
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Market Drivers and Trends:
The rising use of artificial intelligence automation in industrial machinery is expected to fuel the growth of the AI edge computing market going forward. Artificial intelligence (AI) automation refers to using AI technologies to automate tasks and processes that traditionally require human intervention. AI edge computing helps artificial intelligence automation in industrial machinery by enabling real-time data processing and decision-making directly at the network's edge, where the machinery operates. For instance, in May 2022, according to the report published by International Business Machines Corporation, a US-based technology company, globally, 35% of organizations reported using artificial intelligence (AI) in their operations, a four-point increase from 2021. Additionally, 42% of companies plan to explore AI use. Therefore, the rising artificial intelligence automation in industrial machinery drives the AI-edge computing market.
Major companies operating in the artificial intelligence (AI) edge computing market are developing innovative products such as NVIDIA Jetson AGX Orin for edge AI applications. The NVIDIA Jetson AGX Orin is a high-performance system-on-module (SoM) designed for edge AI applications. For instance, in March 2022, Nvidia, a US-based software company, launched NVIDIA Jetson AGX Orin, specifically built for embedded systems and edge computing devices. The Jetson AGX Orin features the latest Orin system-on-chip (SoC), which is based on NVIDIA's Ampere architecture and includes multiple GPU cores, CPU cores, and specialized accelerators for AI inference and computer vision tasks. The NVIDIA Jetson AGX Orin is designed to provide high-performance AI capabilities in a compact and energy-efficient form factor, making it suitable for a wide range of edge AI applications in industries such as robotics, autonomous vehicles, and healthcare.
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Major Key Players of the Market:
Apple Inc., Google LLC, Samsung Electronics Co. Ltd., Microsoft Corporation, Dell Technologies Inc., Huawei Technologies Co. Ltd., Siemens AG, General Electric Company (GE), Intel Corporation, PLC, IBM Corporation, Cisco Systems Inc., Oracle Corporation, Honeywell International Inc., SAP SE, Fujitsu Limited, Hewlett Packard Enterprise (HPE), NVIDIA Corporation, NEC Corporation, Advanced Micro Devices Inc. (AMD), MediaTek Inc., Baidu Inc., Xilinx Inc., RIGADO LLC, Amazon Web Services (AWS)
Artificial Intelligence (AI) Edge Computing Market 2024 Key Insights:
• The artificial intelligence (ai) edge computing market is expected to grow to $43.77 billion in 2028 at a compound annual growth rate (CAGR) of 15.6%.
• The Synergy Of Artificial Intelligence (AI) Automation And Edge Computing In Industrial Machinery
• Impact Of NVIDIA Jetson AGX Orin On The AI Edge Computing Market
• North America was the largest region in the artificial intelligence (AI) edge computing market in 2023
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