Edge AI Market to Reach USD 101.20 Billion by 2032

According to analysts at Vantage Market Research, the Global Genetic Engineering Market size is worth USD 17.70 Billion in 2023 and is projected to reach USD 101.20 Billion by 2032, growing at a CAGR (Compound Annual Growth Rate) of 21.4% from 2024 to 2032. Key drivers of market include rising demand for real-time processing, reduced latency, advancements in AI chip technology, and growing interest in smart applications across industries.

Market Overview

The increasing need for autonomous vehicles drives the demand for real-time data communication with the cloud to ensure optimal performance. Advanced artificial intelligence & machine learning technologies support these self-driving systems in making decisions, connecting to edge computing to enhance efficiency, safety, and reduce traffic congestion. Similarly, robotics applications are gaining traction due to their reduced latency and bandwidth requirements. AI-powered robots, drones, smart factories, & smart ports are examples of where this technology is making an impact. 

The use of artificial intelligence in the healthcare sector is rapidly expanding due to its ability to deliver precise & reliable results. Key applications include image analysis, virtual diagnostics, robotics-assisted surgery, and electroceuticals, which enable healthcare providers to analyze health data and facilitate remote patient interactions. Additionally, the edge-based cybersecurity solutions are essential for protecting sensitive health information. Top companies in this market are focused on advancing these technologies to enhance performance & efficiency.

IBM Unveils Next-Generation Processor Innovations to Boost AI Performance on IBM Z Mainframe Systems

• IBM has unveiled the architectural details of the upcoming IBM Telum II Processor and IBM Spyre Accelerator. These cutting-edge technologies will significantly boost processing power in next-generation IBM Z mainframe systems, facilitating the simultaneous acceleration of both traditional and large language AI models through an innovative ensemble approach

Key Takeaways from the Report

• In 2023, North America dominated the market with 40.2% market share, driven by the rapid technological advancements, strong adoption across industries, 5G network deployment, and significant investments by key players and government initiatives
• By Component, the Hardware segment accounted for the largest share, i.e., 54.2% in 2023 due to increased demand for AI-optimized chips, processors, and edge devices that enable real-time data processing, low latency, and power efficiency across industries such as automotive, healthcare, and consumer electronics
• Based on End-use Industry, the IT & Telecom segment dominated the market with 22.3% of the market share, driven by the growing demand for Edge AI in network optimization, real-time data processing, enhanced customer experiences, and the rollout of 5G technology for low-latency applications

Top Companies

• Amazon.com Inc.
• Alphabet Inc.
• Intel Corporation
• Microsoft Corporation
• ADLINK Technology Inc.
• IBM Corporation
• NVIDIA Corporation
• Gorilla Technology Group
• Viso.ai
• Nutanix Inc.
• Synaptics Incorporated
• Edge Impulse

Report Coverage

Our market research reports provide comprehensive insights that are essential for strategic decision-making. We cover all key aspects of the market, including dynamics such as drivers, restraints, opportunities, and challenges, alongside the latest industry trends. Our analysis includes an in-depth technology roadmap, product life cycle evaluation, and PESTLE analysis, ensuring a thorough understanding of the market environment. We also assess GDP growth outlooks, examine regional market landscapes, and evaluate the impact of major events like the COVID-19 pandemic. Additionally, our reports feature a detailed competitive landscape, including company market shares and profiles, providing actionable intelligence to empower your business strategies.

Latest News

ADLINK’s AI Edge Server Achieves Successful Deployment in Smart Manufacturing

• ADLINK Technology Inc., a global leader in edge computing, has launched the new AI Edge Server MEC-AI7400 series, designed to propel smart manufacturing and accelerate AI-driven digital transformation. Leveraging generative AI and digital twins, ADLINK seamlessly connects the physical and virtual worlds, unlocking new opportunities for future innovation