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Steady Expansion Forecast for Edge Artificial Intelligence Market, Projected to Reach $78.25 Billion by 2029
Edge Artificial Intelligence
Edge Artificial Intelligence Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent times, there has been a significant expansion in the size of the edge artificial intelligence market. This upward trend is anticipated to continue, escalating from a market worth of $24.48 billion in 2024 to a projected value of $30.56 billion in 2025, with a compound annual growth rate (CAGR) of 24.8%. The historic growth of this market is believed to have been spurred by a variety of factors such as the proliferation of IoT devices, heightened demand for edge computing, a surge in applications based on the edge, emerging smart cities, and the need for immediate processing.
Edge Artificial Intelligence Market Size Forecast: What's the Projected Valuation by 2029?
In the upcoming years, the edge artificial intelligence market size is projected to experience a significant surge, reaching a value of $78.25 billion by 2029. This projection is based on a compound annual growth rate (CAGR) of 26.5%. The growth during this period is anticipated to be driven by various factors such as the increased adoption of edge ai in healthcare, the swift expansion of edge ai in the retail sector, regulatory backing for edge computing, a booming edge ai ecosystem, and the rising intricacy of ai workloads. Key trends to note during this period include advancements in technology, innovation in products, security enhancements in edge ai, chiplet incorporation, and federated learning techniques.
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What Are the Drivers Transforming the Edge Artificial Intelligence Market?
The edge artificial intelligence market is being propelled forward by the proliferation of 5G networks. The term 5G, or fifth-generation, pertains to the most advanced iteration of mobile network technology, which is designed to facilitate quicker and more dependable communication for mobile gadgets, as well as inaugurate new apps and services. The 5G technology is being increasingly employed due to its superior speeds, reduced latency, and its support for an enlarging number of interconnected devices, thus catalysing progress in sectors like IoT, healthcare, and self-driving vehicles. The introduction of 5G networks markedly boosts the capabilities and benefits of Edge Artificial Intelligence (Edge AI) by ensuring quicker and more dependable communication between edge devices and the cloud. For example, according to Germany's T-Mobile International AG, in February 2023 there were over 1 billion active 5G subscriptions, and by the close of 2028, it is projected that 5 billion people will have 5G subscriptions. Consequently, the growth of 5G networks is fuelling the edge artificial intelligence market.
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What Long-Term Trends Will Define the Future of the Edge Artificial Intelligence Market?
Key players in the edge artificial intelligence industry are focusing on technological innovations like AI Services at the Edge to maintain their dominance. AI Services at the Edge involve delivering AI capabilities directly on edge devices, located closer to where data is produced, in contrast to using centralized cloud-based solutions. For example, Macrometa, an American IT enterprise, unveiled PhotonIQ, an assortment of edge services, in October 2023. These were designed to accelerate and secure digital experiences in sectors such as eCommerce, gaming, financial services, and beyond. These AI services provide numerous real-time benefits to businesses, including enhanced website performance, Lighthouse scores, improved user search and personalization experiences, as well as dependable security during high traffic periods. Furthermore, PhotonIQ improves dynamic data and application performance with AI at the edge, effortlessly merging with CDNs like Akamai for prompt corporate deployment in less than 60 days.
Which Segments in the Edge Artificial Intelligence Market Offer the Most Profit Potential?
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
Subsegments:
1) By Hardware: Edge Devices, Edge Servers, Specialized AI Chips
2) By Software: AI Algorithms, Edge AI Platforms, Application Software
3) By Services: Consulting Services, System Integration, Support And Maintenance Services
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Which Firms Dominate the Edge Artificial Intelligence Market by Market Share and Revenue in 2025?
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
Which Regions Offer the Highest Growth Potential in the Edge Artificial Intelligence Market?
North America was the largest region in the edge artificial intelligence market in 2024. The regions covered in the edge artificial intelligence market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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