Press release
On-Device AI Market to Reach USD 251.20 Billion by 2034, Growing at a CAGR of 28.0%
The global on-device artificial intelligence (AI) market size was valued at USD 21.29 billion in 2024 and is projected to register a CAGR of 28.0% during 2025-2034.
Market Definition
On-device AI is the deployment and execution of AI algorithms directly on local devices such as smartphones, tablets, wearables, IoT devices, and edge computing systems, rather than relying on cloud-based servers. This approach enables faster processing, enhanced data privacy, reduced latency, and improved offline functionality.
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Key Highlights from the Report
By component, the hardware segment held the largest share in 2024, mainly due to the growing integration of AI-specific chipsets, such as Neural Processing Units (NPUs), Tensor Processing Units (TPUs), and edge AI accelerators, into both consumer and industrial devices. The software segment is also expected to grow significantly during the forecast period.
According to vertical analysis, the consumer electronics segment led the market in 2024, driven by the widespread adoption of AI-powered smart TVs, speakers, home automation systems, and entertainment devices. The healthcare segment is also expected to see substantial growth in the coming years.
In 2024, North America held the largest on-device AI market share, driven by the extensive integration of edge AI technologies across key sectors such as automotive, consumer electronics, and healthcare.
The Asia Pacific market is expected to register the highest CAGR during the forecast period, driven by rapid digital transformation, growing consumer electronics manufacturing, and rising smartphone penetration.
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Driving Factors
Rising Adoption of IoT Devices
The rapid growth in the adoption of Internet of Things (IoT) devices across industries such as smart homes, industrial automation, and wearables is significantly boosting the demand for on-device AI.
Increasing AI Adoption in Automotive and Healthcare
The automotive and healthcare industries are swiftly adopting on-device AI to meet application-specific needs such as low latency, real-time decision-making, and offline functionality.
Competitive Analysis
The market's competitive landscape is fast-evolving, influenced by rapid technological advancements and aggressive expansion strategies. Key players in the market include:
Advanced Micro Devices, Inc.
Amazon.com, Inc.
Apple Inc.
Google LLC
Intel Corporation
Meta
Microsoft
NVIDIA Corporation
Qualcomm Technologies, Inc.
Untether AI
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Market Segmentation
By Component Outlook (Revenue, USD Billion, 2020-2034)
Hardware
Software
By Deployment Outlook (Revenue, USD Billion, 2020-2034)
Cloud
On-premises
By Technology Outlook (Revenue, USD Billion, 2020-2034)
On-Device AI
Natural Language Processing
Computer Vision
Speech Recognition
By Device Type Outlook (Revenue, USD Billion, 2020-2034)
Smart Home Devices
Smartphones & Tablets
Wearables
Others
By Vertical Outlook (Revenue, USD Billion, 2020-2034)
Automotive
Consumer Electronics
Healthcare
Manufacturing
Retail
Security & Surveillance
Others
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By Regional Outlook (Revenue, USD Billion, 2020-2034)
North America
US
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Netherlands
Russia
Rest of Europe
Asia Pacific
China
Japan
India
Malaysia
South Korea
Indonesia
Australia
Vietnam
Rest of Asia Pacific
Middle East & Africa
Saudi Arabia
UAE
Israel
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
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