Edge AI Market Latest Trends, Future Development Outlook and Demand Analysis to 2032
The Edge AI Market size is anticipated to surpass USD 70 billion in annual revenue by 2032, powered by the increasing prevalence of cybercrimes across the internet. The industry is expected to witness lucrative expansion, thanks to rapid technological advancements and the constantly rising adoption of IoT devices. With the increasing rate of industrialization worldwide, organizations from multiple industries are looking to enhance automation for improving processes, efficiency as well as safety. The influx of 5G solutions has further helped to improve the network performance for supporting and deploying different real-time AI applications.
Edge AI market is largely deployed not only in the healthcare sector from helping radiologists in identifying pathologies to carrying out the accurate diagnosis in hospitals, but also for driving automatic cars on highways. Smart farming, industrial manufacturing automation and pollination of plants are other benefits associated with this technology.
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In October 2021, NVIDIA joined forces with Microsoft for the introduction of ND A100 v4 VM GPU, which is integrated with the former’s A100 Tensor Core GPUs along with networking for enabling supercomputer-based AI as well as HPC workloads in cloud. This launch helped in delivering technology breakthroughs in the public cloud in intelligent edge along with AI research, for transforming global industries, comprising retail, manufacturing, and healthcare
Synaptics Incorporated, in September 2021, completed the acquisition of DSP Group in a $450 million deal for bringing a new voice and wireless functions into its IoT product portfolio. The new investment assisted in adding ultra-low power networking capabilities to make the products more attractive for customers in the security market given that the edge AI platform is targeting on-device voice and face biometrics uses.
In September 2022, NVIDIA rolled out its IGX Edge AI market computing platform to offer high-precision industry in secure autonomous systems while bringing advanced security as well as proactive safety to sensitive industries, like logistics, manufacturing, and healthcare. The newly launched platform advances human-machine collaboration and combines hardware and software, including NVIDIA IGX Orin, an energy-efficient and compact AI supercomputer for medical devices autonomous and industrial machines.
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In May 2022, Google’s platform for Edge AI, Coral signed an agreement with ASUS IoT for ramping up its manufacturing, distribution and support capabilities. Through this move, the latter with its vast global experience in electronics manufacturing will deliver Coral crucial resources to match the growing demands with consistent developments of new products for edge computing.
In essence, the edge AI market will foresee significant developments in the looming years, on account of the rising prominence of this technology amongst countless analysts and businesses. The deployment of edge AI solutions not only contributes to enhanced user experience and cost reductions but also provides significant improvements in response speeds and data security. The increasing usage of wearables for making payments as well as smart speakers for tracking exercise and sleep patterns will also add impetus to the technology demand in the near future.
The list of contenders in the edge AI market solutions provider include 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.
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