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Edge AI Market Size

Report ID: GMI5390
Published Date: Apr 2023
Report Format: PDF

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Edge AI Market Size

Edge AI Market size exceeded USD 5 billion in 2022 and is projected to grow at a CAGR of 24.8% from 2023 to 2032, attributed to the rising adoption of cloud computing globally.

Cloud computing & Edge AI are closely intertwined and dependent on each other in various ways. Edge AI involves the deploying of AI applications & services at the network edge, where data is produced, while cloud computing involves the delivering of computing resources via the internet. Edge AI offers benefits such as reduced latency and improved real-time processing, enabling organizations to make faster & more accurate decisions in critical areas including industrial automation, autonomous vehicles, and smart cities.

The surging cloud computing adoption has fueled the expansion of Edge AI by providing organizations with the necessary computing power and storage to deploy AI applications at the network edge. The need for real-time insights will continue to grow as organizations generate more data, propelling the market expansion.

Edge AI Market

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Edge AI Market Report Attributes
Report Attribute	Details
Base Year:	2022
Edge AI Market Size in 2022:	USD 5 billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	24.8%
2032 Value Projection:	USD 70 billion
Historical Data for:	2018 to 2022
No. of Pages:	280
Tables, Charts & Figures:	400
Segments covered:	Component, End-use, Application
Growth Drivers:	Increasing adoption of edge devices across various end-user verticals Growing investment in the AI technology Growing adoption of BYOD and enterprise mobility Surging adoption of cloud computing technology Commercialization of 5G network
Pitfalls & Challenges:	Privacy and security concerns related to edge AI solutions Interoperability issues related to edge AI software

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Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of edge AI surpassed USD 5 billion in 2022 and is anticipated to grow at over 20% CAGR between 2023 and 2032, owing to the growing penetration of IoT & 5G technologies across various industrial verticals and surging data usage across the globe.

The widespread application of video surveillance and real-time monitoring systems in the rapidly developing smart cities is expected to boost the video surveillance segment growth, which is projected to exhibit around 20% of growth rate through 2032.

The manufacturing end-use segment captured approximately 15% of the market share in 2022, propelled by the growing automation and digitalization across manufacturing industries.

The industry includes enterprises such as Anagog Ltd., Amazon Web Services (AWS), Dell, Google (Alphabet Inc.), Gorilla Technology Group, Huawei Technologies Co., Ltd., IBM Corporation, Imagimob AB, Intel Corporation, Microsoft Corporation, MediaTek Inc, Nvidia, Synaptics Incorporated, Qualcomm Technologies Inc., and Xilinx, among others.