Edge AI Market Size | Growth, Trends & Forecast 2024-2031 | Top key players - Alphabet Inc., Amazon.com, Inc., Gorilla Technology Group.
The Global Edge AI Market is projected to grow significantly from US$ 16.8 Billion in 2023 to US$ 73.8 Billion by 2031. This growth is expected to be driven by a compound annual growth rate of 20.6% from 2024 to 2031. The Edge AI Market report from DataM Intelligence offers insights into this expanding market.
Edge AI Market Overview
The Global Edge AI Market reached US$ 16.8 Billion in 2023 and is expected to reach US$ 73.8 Billion by 2031, growing with a CAGR of 20.6% during the forecast period 2024-2031. The Edge AI Market focuses on artificial intelligence processing at the edge of networks, enabling real-time data analysis on devices like smartphones, cameras, and IoT sensors. By reducing latency and enhancing privacy, Edge AI supports applications in autonomous vehicles, healthcare, smart cities, and industrial automation. Growing demand for faster processing, reduced cloud dependency, and AI-powered edge devices is driving market expansion.
Key Players
List of the Key Players in the Edge AI Market: ADLINK Technology Inc., Alphabet Inc., Amazon.com, Inc., Gorilla Technology Group, Intel Corporation, International Business Machines Corporation, Microsoft Corporation, Nutanix, Inc. Synaptics Incorporated and Viso.ai.
Industry Developments
On February 1, 2024, Advantech introduced the MIC-715-OX, a ruggedized edge AI system designed for heavy industry applications. Built to withstand harsh environments, this system features a ruggedized housing that minimizes vibrations and mechanical shocks, an IP67 rating for protection against water and dust, and a fanless design that ensures efficient cooling without drawing in contaminated air.
On October 10, 2023, Macrometa launched PhotonIQ, an advanced AI services platform at the edge. PhotonIQ leverages Macrometa's Global Data Network (GDN)-which powers two billion users and 10 billion devices worldwide-to deliver cutting-edge Artificial Intelligence (AI) and Machine Learning (ML) capabilities. This platform enhances real-time data processing and computational efficiency, enabling businesses to harness AI-driven insights directly at the edge.
Growth Forecast
The Global Edge AI Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
Research Process
Both primary and secondary data sources have been used in the global Edge AI Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.
Segment Covered
By Component: Hardware, Software, Edge Cloud Infrastructure, Services.
By Technology: Machine Learning (Deep Learning, Machine Learning Models), Computer Vision, Natural Language Processing, Predictive Analytics.
By End-User: Consumer Electronics, Manufacturing, Automotive, Government, Healthcare, Energy, Healthcare, Others.
Regional Analysis
The regional analysis of the Edge AI Market covers key regions including North America, Europe, Asia Pacific Middle East and Africa and South America.
The comprehensive regional breakdown helps identify unique market trends and growth opportunities specific to each area:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)
- Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)
- South America (Colombia, Brazil, Argentina, Rest of South America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
Benefits of the Report
➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.
➡ Top-down and bottom-up approach for regional analysis
➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.
➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market
People Also Ask
➠ What is the global sales, production, consumption, import, and export value of the Edge AI market?
➠ Who are the leading manufacturers in the global Edge AI industry? What is their operational status in terms of capacity, production, sales, pricing, costs, gross margin, and revenue?
➠ What opportunities and challenges do vendors in the global Edge AI industry face?
➠ Which applications, end-users, or product types are expected to see growth? What is the market share for each type and application?
➠ What are the key factors and limitations affecting the growth of the Edge AI market?
➠ What are the various sales, marketing, and distribution channels in the global industry?