Artificial Intelligence for Edge Device Market Report: Trends, forecast and Competitive Analysis to 2030

Artificial Intelligence for Edge Device Market Report: Trends, forecast and Competitive Analysis to 2030

Artificial Intelligence for Edge Device Trends and Forecast

The future of the global artificial intelligence for edge device market looks promising with opportunities in the automotive, consumer and enterprise robotic, drone, head-mounted display, smart speaker, and mobile phone markets. The global artificial intelligence for edge device market is expected to grow with a CAGR of 19.0% from 2024 to 2030. The major drivers for this market are increasing adoption of IoT devices and growing concerns about data privacy and security.

• Lucintel forecasts that hardware is expected to witness the highest growth over the forecast period due to growing demand for AI-powered devices.
• Within this market, mobile phone is expected to witness the highest growth due to rise in adaptation of mobile phones.
• North America will remain the largest region over the forecast period due to rising adoption of edge computing and IoT devices and growing demand of smart home products.

Emerging Trends in the Artificial Intelligence for Edge Device Market

In this market in which AI is applied in edge devices there are a number of emerging trends which are changing how this technology is created and how it is used. These trends are becoming more and more relevant owing to the growing use of edge devices. These trends have a relation to what is coming eastward. These trends are beneficial in determining the trends which will be dominant in the market of AI for edge devices in the trailing future.

• Increased Edge Processing Power: Improvements in edge neural computation are due to revolutionary changes in the design of the AI chip since it has increased the processing power of the edge devices. New processors suite for more complex AI tasks which can be done ‘locally’ reducing the need to depend on the cloud coating services for these applications thus avoiding long delays. This movement is enabling on-the-go data gathering and analysis by users in applications such as self-driving trains or machines and those in industry automation.
• Improved Privacy and Security: With an increase in the use of edge devices, it becomes vital to protect data at the edge. Approaches such as federated learning and encryption at the edge have been adopted to ensure the safety of sensitive information and mitigate privacy issues without degrading performance.
• AI and IoT Convergence: The combination of artificial intelligence and the Internet of Things is advancing the commercial viability of marginal edge devices. Therefore, real-time processing and feedback on the environment is possible and applications like intelligent homes, manufacturing, and healthcare can be achieved.
• Reduction of Energy Consumption and Environmental Impact: Due to the growing extent of concern regarding energy use, there is a trend focusing on the design of energy thorough AI systems and their supporting hardware. New energy-saving artificial intelligence chips and various strategies are providing the edge devices with the necessary performance while minimizing their adverse effects on the environment.
• Edge AI Operationalization in Rural and Under Developed Regions: There is more attention being paid in utilizing AI to rural countryside and other outlying areas considering the area may have limitations in connectivity. Edge AI applications do not rely on centralized infrastructures offering essential features including healthcare and agriculture sustain ability services in unserved areas.

 Taken together, these emerging trends are accelerating the development of AI for edge devices thus improving their capabilities, safety, and usability. The increased computing power, security, and energy efficiency are useful in that they prepare the industry for different aspects of the volatile technological environment.

Recent Developments in the Artificial Intelligence for Edge Device Market

The recent state of the art in AI for edge devices has made it possible to change the way how data is collected, processed, and reused. These developments are significant in progress related to hardware, software, and applications, which will lead edge computing to its bright future. Achievements and their significance to different areas of the economy are illustrated in the form of innovations.

• Advancement in Edge AI Chips: The circumstance where edge devices can be utilized in more ways than in the past has been positively impacted with the packaging of devices dedicated to edge computing. These machines provide supportive devices for implementing machine learning applications that require vast computational resources yet saving energy and allowing computation of complex algorithms on the equipment in real time.
• AI-Powered Edge Security Solutions: Edge security has undergone a transformative change following the advent of advanced solutions supported by AI technology. This means that in addition to basic software and data protection, proactive measures are employed to prevent these attacks from happening at all.
• Integration with 5G Technology: AI for applications, such as smart-edge and IoT will develop new capabilities with the advent of edge computing integrated with 5G networks. Thanks to the high speed and ultra-headed reliability of 5G, edge devices can now handle real-time applications and perform data-heavy tasks including autonomous driving, smart cities and the like.
• Development of Low-Power AI Models: Institutions and companies are working towards the goal of power-efficient AI models, thus suitable for edge devices with batteries. They are enhancing model tolerability to inadequate computational power through computational model aggression such as model pruning and model quantization.
• Expansion of Edge AI Applications: The use cases of edge AIs are also increasing and more demand in the use cases for edge AIs are coming up in a cross-sectional manner such as medical, agricultural, and manufacturing. Edge AI systems are being developed to meet certain needs for efficiency which include long-distance surveillance and quick data processing exploration, among other needs.

These key developments in AI for edge devices to date are likely to make considerable changes to the industry in terms of cost efficiency, safety, and a wider range of application. However, the existing technology will continue to be developed as these concepts will bring more development into edge computing and embedding in industries.

Strategic Growth Opportunities for Artificial Intelligence for Edge Device Market

AI strategic growth perspective for edge devices is enormous since it entails transformational ability of these various technologies in different applications sectors. Focusing on key areas of growth helps the stakeholders to be able to take these opportunities appropriately and enhance the innovation process that was targeted to be enhanced.

• Smart Cities: Traffic management, public safety, and urban services are all increasingly reliant on AI based edge devices in the creation of smart cities. However, with edge computing more of the data can be analyzed in real time which enhances the infrastructure of the cities and improves the standard of living of the citizens.
• Healthcare Monitoring: In healthcare field, there is increased use of edge devices enhanced with AI to monitor patients and diagnose diseases. What is more common is performing these activities on edge where they can extract and use the critical information toward remote health monitoring, early diagnosis of diseases, and customized therapy.
• Industrial Automation: The use of AI at the edge has provided tools to change the workings of industrial automation with the realization of real-time feedback and control of the process being manufactured. Edge devices reduce operational downtime, improve predictive maintenance, and production efficiency therefore enhancing the performance by removing the bottlenecks that would have presented.
• Agricultural Technology: It is through the use of Edge AI Technology that agriculture practices have been taken a notch higher especially in precision farming and livestock. By utilizing data from edge sensors and drones, a farmer can determine how crops should be managed, when, and which resources can be deployed, and approximately how much yield will be harvested.
• Retail Analytics: Within the retail domain, edge AI is allowing AI to be used for bettering the experience of the end users through the deployment of analytics in real time. Edge devices uprise the performance of sales by tracking customer patterns, stock control and enhancing the purchasing process of customers.

 These strategic growth opportunities are shaping the wave of AI for edge devices in the near future especially for applications in smart cities, healthcare, industrial automation, agriculture and retail. Capitalizing these opportunities will enhance technology development and extend the reach of edge computing phenomena.

Artificial Intelligence for Edge Device Market Driver and Challenges

The AI for edge devices market is influenced by a myriad of factors which are variable and fall under making of misery for the edge devices, were technology, economy and even regulation. Learning all these is paramount in addressing the challenges in this fluid environment.

The factors responsible for driving the artificial intelligence for edge device market include:

1. Technological Advancements. Factors which are mostly in the technological domain such as improvements in AI and edge computing technologies are building the market. The edge devices are therefore efficient and sophisticated since there have been improvements of the applications through new ai algorithms, hardware and connectivity in all the sectors.

2. Economic Incentives: The cost of edge computing infrastructure is declining and there is a growing investment in AI which is driving the uptake of AI for edge devices. Attractive pricing and better ROI are encouraging businesses to adopt edge solutions.

3. Regulatory Support: Growth of AI for edge devices is being made easier by the existence of supportive policies. The guidelines and standards are being put in place by the Governments and organizations with the aim of controlling the use and development of technology in a good way.

4. Demand for Real Time Processing: The need for real time data processing continues to grow in many areas including but not limited to autonomous vehicles and smart cities. Edge devices are essential in processing data at the site to avert time wastage and achieve quicker decisions.

5. Increased Connectivity: New connectivity technologies like 5g are making improvements in the performance of edge devices. A robust fast and non-volatile network ensures ease in utilization of AI on the edge which escalates the rate of innovation.

Challenges in the artificial intelligence for edge device market are:

1. Data Security and Privacy: A major problem which remains is the data security and privacy as the data is being processed at the edge. It is important to protect data by taking care of threats and applying effective security systems.

2. Scalability Issues: One of the biggest problems faced particularly in edge AI solutions is the widespread growth of these solutions because they cannot simply figure out the varying needs of different environments. There is a need to provide solutions that can scale with the users and the use cases.

3. Integration Complexity: The other existing challenge is that edge AI and the existing systems and platforms are not friendly move together. There comes a great need to prepare for the compatibility of the platforms and systems.

The market for AI-based applications for edge devices has both, the forces and market pressures which always confront rapid advancement in technology and the economic factors sought for development of this market; while data protection, Elasticity, and integration aspects are potential bottlenecks. Certain advancements in technologies such as more sophisticated algorithms for AI and better connectivity enable real time processing and increase the range of applications. On the other hand, these issues such as overcoming security weaknesses and structural scalability with compatibility must be looked at in order to enhance the growth of the market. The manner in which these factors are interplayed will determine the direction in which edge computing goes, and the impact it will have on different sectors and over the different utilities.

List of Artificial Intelligence Companies for Edge Device Market

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. Through these strategies artificial intelligence companies for edge device market cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the artificial intelligence companies for edge device market are profiled in this report include-

• Alibaba
• Apple
• Arm
• Baidu
• CEVA Logistics
• Cambricon
• Google

Artificial Intelligence for Edge Device by Segment

The study includes a forecast for the global artificial intelligence for edge device by type, application, and region.

Artificial Intelligence for Edge Device Market by Type [Analysis by Value from 2018 to 2030]:

• Hardware
• Software

Artificial Intelligence for Edge Device Market by Application [Analysis by Value from 2018 to 2030]:

• Automotive
• Consumer and Enterprise Robotics
• Drones
• Head-Mounted Displays
• Smart Speakers
• Mobile Phones
• Others

Artificial Intelligence for Edge Device Market by Region [Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

Country Wise Outlook for the Artificial Intelligence for Edge Device Market

Application of Artificial Intelligence (AI) for edge devices, in the global picture, has progressed rapidly due to the need for computing, minimal latency and Torre maximum security on data. The development of more industries that embrace edge computing technologies has in turn enhanced the pace at which new technologies come up with more countries being active in different fronts. This summary presents new content on the recent evolution of America, China, Germany, India and Japan regarding edge AI devices and interventions.

• United States: As for American efforts, it should be noted that the improvements to edge devices by incorporating AI emphasize the enhancement of machine learning algorithms and the hardware acceleration. NVIDIA and Intel are introducing breakthroughs through powerful edge GPUs and AI processors that are custom made. Furthermore, it is easier to outfit with artificial intelligence in the Internet of things gadgets assisting with faster data processing and data driven decisions being made instantly. The US also has a global perspective towards AI in terms of ethics and legislation which is useful to the users of the technology.
• China: China has also achieved quite a bit as far as AI for edge devices is concerned using its abilities to manufacture this kind of high-performance chips. Huawei and Alibaba are two of the companies that are working on edge AI with neural network processors and AI accelerators. The area of concentration in China is smart cities along with the area of industrial automation, applying AI to boost efficiency and oversight in security and manufacturing.
• Germany: As a result of the strong automotive and industrial sectors in the country, German firms are also pushing forward on the AI edge devices technology. Organizations in Germany are implementing edge AI technology in solving challenges such as autonomous vehicle operation and smart factory technology. Owing to the nation’s culture of good order and discipline, an incremental use of AI in edge computing is witnessed, to increase speed and effectiveness of data handling and operations in different industries.
• India: India, with her affordable and scalable AI for edge devices, has budgeted herself as one of the players in this space. Indian startups are keen on developing cutting-edge edge AI solutions for the agriculture, healthcare, and smart city sectors. The active goal is to design cheap and not very large edge devices of good quality which would be capable of solving complex AI problems and therefore enable the users to solve local problems and improve the reach of the market.
• Japan: The edge-AI applications in Japan are greatly supported by the strong industrial base in robotic and electronics systems. Companies such as Sony or Toshiba are driving the creation of new types of small and powerful devices with high-performance AI optimised for edge applications. Japan focuses on the combination of AI with robots in order to increase industrial automation and improve the consumer electronic products, making advances in the applications of intelligent edge computing.

Features of the Global Artificial Intelligence for Edge Device Market

Market Size Estimates: Artificial intelligence for edge device market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Artificial intelligence for edge device market size by type, application, and region in terms of value ($B).

Regional Analysis: Artificial intelligence for edge device market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the artificial intelligence for edge device market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the artificial intelligence for edge device market.

Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

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FAQ

Q1. What is the growth forecast for artificial intelligence for edge device market?

Answer: The global artificial intelligence for edge device market is expected to grow with a CAGR of 19.0% from 2024 to 2030.

Q2. What are the major drivers influencing the growth of the artificial intelligence for edge device market?

Answer: The major drivers for this market are increasing adoption of IoT devices and growing concerns about data privacy and security.

Q3. What are the major segments for artificial intelligence for edge device market?

Answer: The future of the artificial intelligence for edge device market looks promising with opportunities in the automotive, consumer and enterprise robotic, drone, head-mounted display, smart speaker, and mobile phone markets.

Q4. Who are the key artificial intelligence for edge device market companies?

Answer: Some of the key artificial intelligence for edge device companies are as follows:

• Alibaba
• Apple
• Arm
• Baidu
• CEVA Logistics
• Cambricon
• Google

Q5. Which artificial intelligence for edge device market segment will be the largest in future?

Answer: Lucintel forecasts that hardware is expected to witness highest growth over the forecast period due to growing demand for AI-powered devices.

Q6. In artificial intelligence for edge device market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region over the forecast period due to rising adoption of edge computing and IoT devices and growing demand of smart home products.

Q.7 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

Q.1. What are some of the most promising, high-growth opportunities for the artificial intelligence for edge device market by type (hardware and software), application (automotive, consumer and enterprise robotics, drones, head-mounted displays, smart speakers, mobile phones, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?

For any questions related to Artificial Intelligence For Edge Device Market, Artificial Intelligence For Edge Device Market Size, Artificial Intelligence For Edge Device Market Growth, Artificial Intelligence For Edge Device Market Analysis, Artificial Intelligence For Edge Device Market Report, Artificial Intelligence For Edge Device Market Share, Artificial Intelligence For Edge Device Market Trends, Artificial Intelligence For Edge Device Market Forecast, Artificial Intelligence For Edge Device Companies, write Lucintel analyst at email: [email protected]. We will be glad to get back to you soon.

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