Global Artificial Intelligence (AI) Edge Computing Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope

Artificial intelligence (AI) edge computing refers to deploying AI algorithms and models on edge devices, such as sensors, cameras, or edge servers, located closer to the data source or end-user device. This approach brings AI capabilities directly to the network's edge, enabling real-time data processing, analysis, and decision-making without relying solely on centralized cloud servers.

Sizing and Forecast
The artificial intelligence (AI) edge computing market size has grown exponentially in recent years. It will grow from $16.73 billion in 2023 to $20.29 billion in 2024 at a compound annual growth rate (CAGR) of 21.3%.  The growth in the historic period can be attributed to proliferation of IoT devices, advancements in edge computing technology, increasing demand for real-time data processing, growth of AI and machine learning applications, rising concerns over data privacy and security.

The artificial intelligence (AI) edge computing market size is expected to see rapid growth in the next few years. It will grow to $43.77 billion in 2028 at a compound annual growth rate (CAGR) of 15.6%.  The growth in the forecast period can be attributed to expansion of 5G networks, adoption of edge AI in autonomous vehicles, emergence of Industry 4.0 initiatives, integration of AI into edge devices, accelerated deployment of edge computing infrastructure. Major trends in the forecast period include edge AI market consolidation, rise of edge AI as a service (AIAAS), shift towards decentralized AI architectures, rise of hybrid edge-cloud computing models, increasing focus on edge AI sustainability and energy efficiency.

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Segmentation & Regional Insights
The artificial intelligence (AI) edge computing market covered in this report is segmented –

1) By Component: Hardware, Software, Services
2) By Application: Industrial Internet Of Things (IIoT), Remote Monitoring, Content Delivery, Video Analytics, Augmented Reality (AR) And Virtual Reality (VR), Other Applications
3) By Organization Size: Large Enterprises, Small And Medium Sized Enterprises
4) By Industry Vertical: Automotive, Healthcare, Chemicals, Oil And Gas, Manufacturing And robotics, Public Infrastructure, Transportation And Logistics, Other Industry Verticals

North America was the largest region in the artificial intelligence (AI) edge computing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence (AI) edge computing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The rising use of artificial intelligence automation in industrial machinery is expected to fuel the growth of the AI edge computing market going forward. Artificial intelligence (AI) automation refers to using AI technologies to automate tasks and processes that traditionally require human intervention. AI edge computing helps artificial intelligence automation in industrial machinery by enabling real-time data processing and decision-making directly at the network's edge, where the machinery operates. For instance, in May 2022, according to the report published by International Business Machines Corporation, a US-based technology company, globally, 35% of organizations reported using artificial intelligence (AI) in their operations, a four-point increase from 2021. Additionally, 42% of companies plan to explore AI use. Therefore, the rising artificial intelligence automation in industrial machinery drives the AI-edge computing market.

Key Industry Players
Major companies operating in the artificial intelligence (AI) edge computing market are Apple Inc., Google LLC, Samsung Electronics Co. Ltd., Microsoft Corporation, Dell Technologies Inc., Huawei Technologies Co. Ltd., Siemens AG, General Electric Company (GE), Intel Corporation, Accenture PLC, IBM Corporation, Cisco Systems Inc., Oracle Corporation, Honeywell International Inc., SAP SE, Fujitsu Limited, Hewlett Packard Enterprise (HPE), NVIDIA Corporation, NEC Corporation, Advanced Micro Devices Inc. (AMD), MediaTek Inc., Baidu Inc., Xilinx Inc., RIGADO LLC, Amazon Web Services (AWS)

The artificial intelligence (ai) edge computing market report table of contents includes:
1. Executive Summary

2. Artificial Intelligence (AI) Edge Computing Market Characteristics

3. Artificial Intelligence (AI) Edge Computing Market Trends And Strategies

4. Artificial Intelligence (AI) Edge Computing Market - Macro Economic Scenario

5. Global Artificial Intelligence (AI) Edge Computing Market Size and Growth

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32. Global Artificial Intelligence (AI) Edge Computing Market Competitive Benchmarking

33. Global Artificial Intelligence (AI) Edge Computing Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Artificial Intelligence (AI) Edge Computing Market

35. Artificial Intelligence (AI) Edge Computing Market Future Outlook and Potential Analysis

36. Appendix

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