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Edge AI Market Trends

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

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Edge AI Market Trends

The Edge AI market will grow significantly during the forecast period, due to the increasing adoption of 5G technology. 5G is the latest wireless communication technology that provides faster & more reliable connectivity compared to previous generations of wireless technology. With their high bandwidths and low latency, 5G networks allow data transmission & processing at the edge of the network, enabling the deployment of edge AI in various applications. Moreover, 5G technology offers improved security features, such as encrypted data transmission, which are vital for Edge AI applications that require secure data processing. These features allow organizations to deploy Edge AI in sensitive areas such as manufacturing, healthcare, government, transport, BFSI, and defense.

The Edge AI market growth is credited to increasing concerns related to privacy and security. A significant challenge facing the market is the absence of standardized security protocols for Edge AI devices, which increases their vulnerability to cyber-attacks. With limited computing resources, edge devices may not have the necessary security measures, such as firewalls or antivirus software, to safeguard against threats. This may put sensitive data at risk, thus raising compliance issues. To overcome these challenges, standardized security protocols, privacy regulations, and ethical frameworks are necessary to ensure that data is processed securely and transparently.

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.