Edge Artificial Intelligence Market by Processor (Application-Specific Integrated Circuit, Central Processing Unit, Field Programmable Gate Array), Component (Services, Solution), Source, Application, End-Use - Global Forecast 2024-2030

Edge Artificial Intelligence Market by Processor (Application-Specific Integrated Circuit, Central Processing Unit, Field Programmable Gate Array), Component (Services, Solution), Source, Application, End-Use - Global Forecast 2024-2030

The Edge Artificial Intelligence Market size was estimated at USD 2.41 billion in 2023 and expected to reach USD 2.97 billion in 2024, at a CAGR 24.71% to reach USD 11.31 billion by 2030.

Edge artificial intelligence includes the deployment of artificial intelligence algorithms and models directly on local devices or at the edge of the network, enabling real-time data processing and decision-making without needing constant connectivity to centralized cloud servers. This approach offers significant advantages in terms of reduced latency, enhanced privacy, and efficient bandwidth usage, making it highly suitable for applications in autonomous vehicles, industrial automation, healthcare, and smart cities. This decentralized approach is achievable by integrating advanced AI and machine learning capabilities directly into edge devices, such as smartphones, Internet of Things (IoT) devices, and autonomous vehicles. Increased demand for low-latency processing and real-time decision-making capabilities in various industries drive the development and adoption of Edge AI technology. The proliferation of IoT devices and the need to process vast amounts of data at the source without overloading network bandwidth further increases the demand for these innovative solutions, expanding the scope of the Edge AI market. However, concerns over data security and privacy and the complexity of deploying and maintaining AI models on edge devices present challenges for the market. Moreover, the surge in intelligent applications across healthcare, automotive, and manufacturing sectors presents significant opportunities for Edge AI. Advancements in semiconductor technologies and increased investments in AI research can lead to more powerful and efficient Edge AI solutions.

Regional Insights

The market for Edge artificial intelligence in the Americas is experiencing robust growth, driven by the robust adoption of cloud-based technologies and the increasing prevalence of IoT devices. North America, in particular, is a hub for technological innovation, with well-established players expanding their offerings in Edge AI solutions. The EMEA region's Edge AI market is marked by a dynamic and diverse landscape. Europe's strict privacy regulations, such as the General Data Protection Regulation (GDPR), catalyze the shift toward local data processing, fueling the growth of Edge AI technologies. The Middle East is leveraging AI at the Edge for smart city initiatives and to enhance oil & gas operations. Furthermore, investments in Africa are growing, particularly in areas including agritech and healthcare, where Edge AI can greatly improve efficiency and accessibility. The APAC region demonstrates significant potential and is expected to witness the highest growth rate in the Edge AI market, owing to the increasing penetration of AI technologies and government support in China, South Korea, and Japan. APAC's large manufacturing base actively incorporates AI Edge computing for real-time process optimization. Furthermore, the region's burgeoning consumer electronics sector provides propspects for embedding Edge AI into consumer devices.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Edge Artificial Intelligence Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Increasing automation and electrification of industries across economies
    • Growing investments in smart city development worldwide
    • Rising production and deployment of autonomous vehicles
    • Market Restraints
      • Deployment and integration issues with Edge AI
      • Market Opportunities
        • Ongoing improvements in Edge AI technologies
        • Potential utilization of Edge AI in precision agriculture
        • Market Challenges
          • Privacy and security concerns associated with Edge AI
          • Market Segmentation Analysis
            • Component: Growing usage of software tools to create and implement effective Edge AI applications
            • Processor: High potential of application-specific integrated circuit (ASIC) o accelerate image recognition and data analysis
            • Source: Edge-based biometric systems provide faster response times and reduce bandwidth load on networks
            • Application: Deployment of Edge AI in smart wearables to offer more accurate data analysis and faster processing
            • End-Use: Rising adoption of ​​Edge AI by government & public sector, emphasizing service delivery and data security
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Edge Artificial Intelligence Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Edge Artificial Intelligence Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • Google Invests USD 1.1 Billion in Finland Data Center to Enhance AI Capabilities and Sustainability Initiatives
              
              Google has invested USD 1.1 billion in expanding its data center operations in Finland. This investment bolsters the company's artificial intelligence (AI) capabilities and sustainability efforts. The expanded data center provides increased capacity for AI-driven services, supporting the growing demand for advanced computing power. Additionally, the investment emphasizes Google's commitment to environmental sustainability, as the enhanced infrastructure incorporates cutting-edge technologies designed to minimize energy consumption and mitigate carbon emissions. This strategic expansion aligns with global trends emphasizing the importance of sustainable digital infrastructure in advancing technological innovation.
              
              Myelin Foundry Secures USD 4 Million Funding to Pioneer Edge AI Solutions
              
              Myelin Foundry, an AI startup, raised USD 4 million to advance its edge artificial intelligence (AI) technologies. This capital bolsters the development and deployment of their edge AI solutions, which are designed to process data locally on devices rather than relying on cloud-based systems. This funding round highlights the rising interest and investment in Edge AI, which ensures to reduce latency, enhance data privacy, and improve real-time processing capabilities.
              
              Synaptics Advances AI and IoT with Cutting-Edge Edge Computing Solutions
              
              Synaptics is making significant strides in Artificial Intelligence (AI) and the Internet of Things (IoT) through its innovative Astra edge computing solutions. These advancements emphasize localized data processing, which reduces the need for extensive cloud-based resources and bolsters real-time decision-making capabilities. By integrating AI at the edge, Synaptics is enhancing the efficiency and efficacy of smart devices, enabling quicker responses and more streamlined operations in various applications. This approach improves system performance and addresses privacy and security concerns by minimizing data transmission to and from the cloud. The company's efforts are poised to drive substantial growth and evolution within the AI and IoT sectors.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Edge Artificial Intelligence Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the Edge Artificial Intelligence Market, highlighting leading vendors and their innovative profiles. These include ADLINK Technology Inc., Advanced Micro Devices, Inc., Advantech Co., Ltd., Aispire, Inc., Amazon Web Services Inc., ARBOR Technology Corp., BrainChip Holdings Ltd., Cisco Systems, Inc., ClearBlade, Inc., D-Link Corporation, EdgeIQ, Inc., Eta Compute Inc., Google LLC by Alphabet Inc., Gorilla Technology Group Inc., Hewlett Packard Enterprise Company, Huawei Technologies Co., Ltd., Intel Corporation, Intent HQ Limited, International Business Machines Corporation, Johnson Controls International PLC, Lenovo Group Limited, Microsoft Corporation, MYWAI, Nutanix, Inc., NVIDIA Corporation, Oracle Corporation, Qualcomm Technologies, Inc., Rockwell Automation, Inc., Saguna Consulting Services LLC, Samsung Electronics Co., Ltd., Sidus Space, Inc., Siemens AG, Sony Group Corporation, STMicroelectronics N.V., Synaptics Incorporated, Tata Elxsi Limited, TIBCO Software Inc. by Cloud Software Group, Inc., Tredence.Inc., Vapor IO, Inc., viso.ai AG, and VMware, Inc. by Broadcom Inc..
            
            Market Segmentation & Coverage
            
            This research report categorizes the Edge Artificial Intelligence Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Processor
              • Application-Specific Integrated Circuit
              • Central Processing Unit
              • Field Programmable Gate Array
              • Graphics Processing Unit
              • Component
                • Services
                  • Support & Maintenance
                  • System Integration & Testing
                  • Training & Consulting
                  • Solution
                    • Platform
                    • Software Tools
                    • Source
                      • Biometric Data
                      • Mobile Data
                      • Sensor Data
                      • Speech Recognition
                      • Video & Image Recognition
                      • Application
                        • Access Management
                        • Autonomous Vehicles
                        • Energy Management
                        • Precision Agriculture
                        • Remote Monitoring & Predictive Maintenance
                        • Smart Wearables
                        • Telemetry
                        • Video Surveillance
                        • End-Use
                          • Automotive
                          • Energy & Utilities
                          • Government & Public Sector
                          • Healthcare
                          • Manufacturing
                          • Telecom
                          • Region
                            • Americas
                              • Argentina
                              • Brazil
                              • Canada
                              • Mexico
                              • United States
                                • California
                                • Florida
                                • Illinois
                                • New York
                                • Ohio
                                • Pennsylvania
                                • Texas
                                • Asia-Pacific
                                  • Australia
                                  • China
                                  • India
                                  • Indonesia
                                  • Japan
                                  • Malaysia
                                  • Philippines
                                  • Singapore
                                  • South Korea
                                  • Taiwan
                                  • Thailand
                                  • Vietnam
                                  • Europe, Middle East & Africa
                                    • Denmark
                                    • Egypt
                                    • Finland
                                    • France
                                    • Germany
                                    • Israel
                                    • Italy
                                    • Netherlands
                                    • Nigeria
                                    • Norway
                                    • Poland
                                    • Qatar
                                    • Russia
                                    • Saudi Arabia
                                    • South Africa
                                    • Spain
                                    • Sweden
                                    • Switzerland
                                    • Turkey
                                    • United Arab Emirates
                                    • United Kingdom
                                    
                                    
                                    Please Note: PDF & Excel + Online Access - 1 Year