Edge AI Market by Component (Services and Solutions), by Data Sources (Mobile Data, Sensor Data, Biometric Data, Speech, Video, and Image Recognition), and by Application (Video Surveillance, Access Management, Autonomous Vehicles, Energy Management, and Others) - Global Opportunity Analysis and Industry Forecast 2024-2030

Edge AI Market

Industry:  ICT & Media | Publish Date: Apr 2024 | No of Pages:  N/A | No. Tables:  N/A | No. Figures:  N/A

Market Definition

The Edge AI Market size was valued at USD 19.34 billion in 2023 and is predicted to reach USD 105.75 billion by 2030 with a CAGR of 27.58% from 2024-2030.

Edge AI, or Edge Artificial Intelligence, refers to the deployment of artificial intelligence algorithms and data processing capabilities on edge devices, which are located close to the source of data generation. Instead of relying solely on centralized cloud servers for data analysis and decision-making, Edge AI enables the processing of information locally on devices such as sensors, smartphones, or edge servers. This approach reduces latency, enhances real-time processing, and improves the efficiency of AI applications by handling data closer to where it is produced.

Market Dynamics and Trends

The global Edge AI market is experiencing robust growth driven by the increasing adoption of edge computing and artificial intelligence technologies across various industries. Edge AI enables real-time data processing and analysis at the edge of the network, closer to where data is generated, allowing for faster decision-making and improved operational efficiency.

Industries such as manufacturing, healthcare, retail, and automotive are leveraging Edge AI to implement advanced analytics, predictive maintenance, and autonomous capabilities in their operations. Moreover, the increasing demand for low-latency and high-bandwidth applications such as autonomous vehicles, augmented reality, and virtual reality is driving the need for Edge AI solutions.

By processing data locally at the edge of the network, Edge AI reduces latency and bandwidth requirements, enabling real-time responsiveness and immersive user experiences. Another factor driving the growth of the Edge AI market is the emergence of 5G technology, which is facilitating faster data transmission and enabling more connected devices. 

With the deployment of 5G networks, organizations can leverage Edge AI to unlock new capabilities such as real-time video analytics, remote monitoring, and autonomous systems. However, the high implementation and maintenance costs associated with deploying edge AI infrastructure is restraining the growth of the edge AI market.

On the other hand, the introduction of quantum edge computing and explainable AI (XAI) presents significant opportunities for the edge AI market. This creates a favourable environment for the edge AI market, as businesses can leverage these technologies to enhance the efficiency, reliability, and accountability of AI applications deployed at the edge, fostering innovation and market growth.


Market Segmentation and Scope of Study

The global edge AI market is segmented on the basis of component, data sources, application, and geography. Based on component, the market is classified into services and solutions. Based on the data sources, the market is segmented into mobile data, sensor data, biometric data, speech, video, and image recognition. On the basis of application, the market is categorized into video surveillance, access management, autonomous vehicles, energy management, and others. Geographical breakdown and analysis of each of the aforesaid classifications include regions comprising of North America, Europe, Asia-Pacific, and RoW.


Geographical Analysis

North America dominates the global edge AI market share and is potently expected to remain dominant in the market throughout the forecast period. This is attributed to the rising demand for autonomous vehicles in the region, coupled with extensive research and development efforts in the region. Edge AI technology plays a crucial role in enabling the real-time processing and analysis of data generated by a variety of sensors and cameras in autonomous vehicles.

According to reports published by the National News in December 2022, tech giant Apple is working on a project named ‘Project Titan’ with an aim to develop a fully autonomous electric vehicle, which is expected to launch by the year 2026.

Also, the presence of key market players such as Microsoft Corporation, IBM Corporation, Google LLC, and NVIDIA, who are actively contributing to its expansion is boosting the market expansion. These industry leaders have implemented strategic initiatives to solidify their positions in the market, thereby fostering its growth trajectory.

For example, Microsoft Corporation introduced an all-new, AI-powered Bing search engine and Edge browser in February 2023, aiming to enhance search capabilities, provide more comprehensive answers, offer a new chat experience, and enable content generation. This move reflects Microsoft's commitment to leveraging Edge AI technologies to deliver innovative solutions that meet evolving consumer needs and preferences.

On the other hand, Asia-Pacific shows substantial growth in the global edge AI market owing to the burgeoning adoption of 5G infrastructure. With the rapid expansion of 5G networks across Asia Pacific, there is a fundamental shift towards ultra-fast, low-latency connectivity, enabling seamless communication and data exchange between devices and edge computing systems.

According to the GSMA, a global organization unifying the mobile ecosystem, projections indicate that by 2025, there will be over 400 million 5G connections in Asia Pacific, constituting just over 14% of total mobile connections in the region. Notably, in developed Asia Pacific countries such as Australia, Japan, Singapore, and South Korea, this figure is expected to be significantly higher, averaging around 67%.

Additionally, government initiatives and policies aimed at promoting digitalization and Industry 4.0 are creating a conducive environment for the growth of the Edge AI market in Asia Pacific. Governments across the region are investing in infrastructure development, research and development, and skills training to accelerate the adoption of advanced technologies, including Edge AI.

For example, initiatives such as China's New Generation Artificial Intelligence Development Plan and India's National AI Strategy are driving investment and collaboration in AI and edge computing technologies, fostering innovation and market growth.

Moreover, the presence of major technology companies and startups specializing in AI and edge computing is driving innovation and investment in the Edge AI market in Asia Pacific. Companies such as Alibaba, Tencent, Baidu, and Huawei are leading the development of Edge AI solutions tailored to the needs of the region's diverse industries and use cases. These companies are leveraging their expertise in AI algorithms, edge computing infrastructure, and domain-specific applications to address market demand and drive adoption of Edge AI technologies.


Competitive Landscape

Various market players operating in the Edge AI market includes Alphabet Inc., Huawei Technologies Co., Ltd., IBM Corporation, Microsoft Corporation, NVIDIA, Synaptics Incorporated, Qualcomm Technologies Inc., Amazon Web Services Inc., Samsung electronics Co. Ltd and MediaTek. Inc. These market players are adopting various strategies such as innovation and collaboration to maintain their dominance in the global edge AI market.

For instance, in February 2024, IBM and Wipro extended their partnership to introduce an Enterprise AI-Ready Platform, utilizing IBM WatsonX, aimed at accelerating the adoption of Generative AI across enterprises. This expanded collaboration entails the establishment of a centralized technology hub, which will provide dedicated support to joint clients as they navigate their AI initiatives.

In September 2022, NVIDIA Launched IGX Edge AI computing platform for high-precision edge AI, to provide advanced security and proactive safety to sensitive industries. IGX platform is easily programmable and configurable to suit different needs.

Key Benefits

  • The report provides quantitative analysis and estimations of the edge AI market from 2024 to 2030, which assists in identifying the prevailing market opportunities.

  • The study comprises a deep dive analysis of the edge AI market including the current and future trends to depict prevalent investment pockets in the market.

  • Information related to key drivers, restraints, and opportunities and their impact on the edge AI market is provided in the report. 

  • Competitive analysis of the players, along with their market share is provided in the report.

  • SWOT analysis and Porters Five Forces model is elaborated in the study.

  • Value chain analysis in the market study provides a clear picture of roles of stakeholders.

Key Market Segments

By Component 

  • Services 

  • Solutions

By Data Source

  • Mobile Data

  • Sensor Data

  • Biometric Data

  • Speech

  • Video

  • Image Recognition

By Application 

  • Video Surveillance

  • Access Management

  • Autonomous Vehicles

  • Energy Management

  • Others

By Region

  • North America

    • The U.S

    • Canada

    • Mexico

  • Europe

    • The UK

    • Germany

    • France    

    • Italy

    • Spain

    • Denmark

    • Netherlands

    • Finland

    • Sweden

    • Norway

    • Russia

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • South Korea

    • Australia

    • Indonesia

    • Singapore

    • Taiwan

    • Thailand

    • Rest of Asia-Pacific

  • Rest of the World (RoW)

    • Latin America

    • Middle East

    • Africa




Market Size in 2023

USD 19.34 Billion

Revenue Forecast in 2030

USD 105.75 Billion

Growth Rate

CAGR of 27.58% from 2024 to 2030

Analysis Period


Base Year Considered


Forecast Period


Market Size Estimation

Billion (USD)

Growth Factors

  • The increasing adoption of edge computing and artificial intelligence technologies across various industries

  • Rising demand for low-latency and high-bandwidth applications such as autonomous vehicles, augmented reality, and virtual reality

Countries Covered


Companies Profiled


Market Share

Available for 10 companies

Customization Scope

Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope.

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  • Alphabet Inc.

  • Huawei Technologies Co., Ltd.

  • IBM Corporation

  • Microsoft Corporation


  • Synaptics Incorporated

  • Qualcomm Technologies Inc.

  • Amazon Web Services Inc.

  • Samsung electronics Co. Ltd

  • MediaTek. Inc.

Frequently Asked Questions
What would be the worth of the global Edge AI market by the end of 2030?

According to the report published by Next Move Strategy Consulting, the global Edge AI market is expected to hit USD 105.75 billion by 2030.

Which region is dominating the Edge AI market?

North America is the key dominating region in Edge AI market.

Which are the top companies operating in the Edge AI market?

The top companies operating in the Edge AI market includes Alphabet Inc., Huawei Technologies Co., Ltd., IBM Corporation, Microsoft Corporation, NVIDIA, Synaptics Incorporated, Qualcomm Technologies Inc., Amazon Web Services Inc., Samsung electronics Co. Ltd and MediaTek. Inc.

What is the current market size for the Edge AI market in 2023?

The Edge AI market is valued at USD 19.34 billion in 2023.

What are the key factors hampering the growth of the Edge AI market?

The growing concern of data privacy and security associated with Edge AI are the factors hampering the market growth.