AI Edge Computing Market is Anticipated to Generate USD 59,633.0 Million by 2030 | AMR

According to a recent report published by Allied Market Research, titled, "AI edge computing Market By Component, Organization Size, Application, Industry Vertical, and Region: Global Opportunity Analysis and Industry Forecast, 2021-2030," The AI edge computing market size was valued at $9,096.0 million in 2020, and is projected to reach $59,633.0 million by 2030, registering a CAGR of 21.2%.

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The global AI edge computing market is influenced by several factors such as ability of the AI edge to overcome cloud computing challenges, rise in demand for real-time operations, and proliferation of edge AI-enabled devices. In addition, a number of lucrative benefits offered by AI edge computing such as faster computing and insights and better data security fuel the growth of this market. However, need for high investment and shortage of skilled IT professionals are projected to hamper growth of the market. On the other hand, advent of the 5G Network connectivity and emerging applications of AI edge computing are estimated to be opportunistic for the growth of the market.

In 2020, based on components, the hardware segment dominated the AI edge computing market in 2020 and is expected to maintain its dominance in the upcoming years. This is due to rise in applications of AI edge computing hardware or physical components such as processors, servers, switches, and routers. In addition, the proliferation of smart phones, cameras, robots, and others drives the growth of the hardware segment. However, the services segment is expected to witness highest growth rate during the forecast period.

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By organization size, the large enterprises segment dominated the growth in the AI edge computing market in 2020, and is expected to maintain its dominance in the upcoming years. This is due to significant growth in the deployment of edge computing use cases in large enterprises to support IoT or immersive experiences. However, SMEs segment is expected to witness highest growth rate during the forecast period. Intensely competitive scenario has primarily encouraged number of SMEs across the globe to increasingly invest in AI edge computing solutions to reach their desired target audience. For instance, according to a recent survey by VOLTA data center, 38% of small businesses across the globe are utilizing the edge computing technology; however, the number of SMEs utilizing edge technology is increasing rapidly. This factor further fuels the growth of the segment.

Asia-Pacific is expected to observe highest growth rate during the forecast period, due to the proliferation of connected systems fueled by ongoing trend of smart offices and homes in the region coupled with government-driven infrastructural projects. The data generated by edge devices in different industry verticals across the region and increased consumer spending on smart solutions across countries such as China, Australia, Japan, and India, fuel the growth of the market. In addition to this, emerging adoption of innovative technologies as well as ongoing digital transformation initiatives in Asian countries, such as Australia, Japan, China, and India, to create an increased demand for improved customer experiences fueling the demand for AI edge computing.

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Leading Market Players:

• Cisco Systems, Inc.
• International Business Machine Corporation
• Clearblade, Inc.
• Foghorn Systems
• Hewlett Packard Enterprise Development LP
• Huawei Technologies Co. Ltd
• Nokia
• Rigado LLC
• Saguna Networks Ltd.
• Vapor IO

Covid-19 Scenario:

• The outbreak of the Covid-19 pandemic impacted the global AI edge computing market positively.

• The implementation of global lockdown has constrained organizations to move toward digitalization for the arrangement of work from home offices to their employee, which in turn, boosted the demand for AI edge computing.

• In addition, edge computing is ending up to be a life-saving technology for the medical care industry, due to different IoT medical applications.

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