Dublin, Nov. 18, 2024 (GLOBE NEWSWIRE) -- The "Edge AI Market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.
The global edge AI market is expected to grow at a CAGR of 20.54%, reaching a market size of US$59.978 billion in 2029 from US$23.571 billion in 2024.
Edge computing and artificial intelligence (AI) technology are combined to create edge AI. Multi-Access Edge Computing architecture provides networking, storage, and processing capabilities at the edge of the network, near end users and end devices. Virtual devices, as opposed to actual edge computers, are utilized in MEC Edge AI use cases to process camera video streams over a 5G connection.
For instance, in February 2023, Dublin City University in Europe and Cellnex Ireland, a European provider of wireless telecom infrastructure, worked together to develop a 5G-enabled smart campus. Cellnex installs a range of telecommunication infrastructure on the campuses as part of this partnership to enable Mobile Edge Computing (MEC) capabilities and guarantee 5G coverage throughout the main campus.
Global Edge AI Market Drivers:
Increasing demand for edge AI in the healthcare industry is anticipated to propel the market growth
The healthcare industry is seeing a sharp rise in the use of artificial intelligence applications because these technologies yield accurate results. Applications include electroceuticals, robotics-assisted surgery, image analysis, and virtual diagnostics. These instruments enable doctors to consult with patients remotely and assist healthcare organizations in analyzing health data. Additionally, edge-based cybersecurity is employed to protect private medical information.
The major market players are attempting to organize and create new technological advancements. Furthermore, the healthcare sector will benefit from the high performance and acceleration provided by the integration of this technology. For instance, Nvidia extended the use of its Edge Artificial Intelligence technology for robotics and healthcare in September 2022. The Nvidia IGX Platform aims to accelerate performance and extract real-time insights for use in both industrial and medical use cases.
Global Edge AI Market Geographical Outlook
North America is witnessing exponential growth during the forecast period
The rapid expansion of North American markets can be attributed to companies in the region adopting sophisticated technologies like artificial intelligence and machine learning. Moreover, AI technology is getting national attention from the U.S. government as its main goal. For example, in March 2024, the AI solutions provider Innodisk demonstrated its expertise in integrating edge AI at NVIDIA GTC in the United States.
With a focus on delivering customizable AI solutions available to various industries, Innodisk actively shares its research and real-world edge AI implementations globally. The company highlights useful applications across industries by showcasing how its camera modules seamlessly integrate with NVIDIA's specialized AI visual technology.
Report Coverage:
- Historical data & forecasts from 2022 to 2029
- Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
- Competitive Positioning, Strategies, and Market Share Analysis
- Revenue Growth and Forecast Assessment of segments and regions including countries
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 120 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $23.57 billion |
| Forecasted Market Value (USD) by 2029 | $59.98 billion |
| Compound Annual Growth Rate | 20.5% |
| Regions Covered | Global |
Company Profiling (Strategies, Products, Financial Information, and Key Developments)
Some of the key companies profiled in this Global Edge AI Market report include:
- Microsoft Corporation
- Alphabet Inc.
- Amazon
- IBM Corporation
- Apple
- Intel
- Anagog Ltd.
- Nutanix
- Octonion SA.
- Synaptics Incorporated
The Global Edge AI market is segmented and analyzed as follows:
By Component
- Services
- Solutions
By Data Sources
- Mobile Data
- Sensor Data
- Biometric Data
- Speech, Video
- Image Recognition
By Application
- Video Surveillance
- Access Management
- Autonomous Vehicles
- Energy Management
- Others
By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- UK
- Germany
- France
- Spain
- Others
- Middle East and Africa
- Saudi Arabia
- Israel
- Others
- Asia Pacific
- Japan
- China
- India
- South Korea
- Others
For more information about this report visit https://www.researchandmarkets.com/r/qlmsmv
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
