DUBLIN–(BUSINESS WIRE)–The “Edge AI Market – Forecasts from 2021 to 2026” report has been added to ResearchAndMarkets.com’s offering.
The global edge AI market is expected to grow at a compound annual growth rate of 19.27% over the forecast period to reach a market size of US$1,954.244 million in 2026 from US$569.194 million in 2019.
The market is expected to surge in the coming years, because of the advancement and innovation in technologies, adoption of 5G solutions, and rising demand for electric vehicles, globally. Major companies such as Apple, Microsoft, Amazon, and others, have been moving towards Edge Ai solutions, intending to bring Artificial Intelligence Inferencing from the cloud to their local and regional hardware. In January 2020, Apple Inc. announced the acquisition of Xnor.ai, a Seattle, United States, based start-up specializing in edge-based, low powered artificial intelligence tools. The company suggested that Xnor’s Artificial Intelligence based image recognition tools are expected to become standard and premium features, in webcams and iPhones. These developments are expected to surge the market growth, during the forecast period.
The market is expected to surge in the coming years, because of the adoption of 5G solutions, globally. The major advantage of the 5G solution is that the network latency rate would be reduced, with the introduction of high-end applications. The emergence of 5G solutions, across a wide range of applications, is expected to surge and accelerate the amount of data transferred to the respective data centers, thereby enhancing and accelerating the need for edge networks or intermediary servers. Major countries have been investing a significant sum of capital to develop and introduce 5G solutions, for their respective citizens.
Rising Demand For innovative & Advanced Vehicles
The market is expected to surge in the coming years, because of the rise in demand for electric, and autonomous vehicles, globally. According to the International Energy Agency, total sales of electric vehicles topped 2.1 million, in the year 2019, globally. There was a growth of 6%, in 2019 than its previous year. The agency also estimated that electric vehicle sales will grow at a rate of 40%, annually. China had been the world’s biggest electric vehicle market, followed by Europe and the United States, in the year 2019. These three regions accounted for around 90%, of the electric vehicle sales, in the year 2019. Major companies have been developing novel and advanced edge AI and computing solutions, for their customers. In March 2020, engineers from Tesla discussed the company’s major Virtual Power Plant Project. The project had been an advanced and modern example of a cloud-native architecture, that uses edge computing and AI. Other companies are also making significant developments in the market, in the past few years. For Instance, In January 2021, General Motors announced that they had been teaming up with Microsoft to surge its rollout of self-driving, electric cars. The two companies stated that Microsoft’s edge computing and Azure Cloud platform would be used to commercialize its unique autonomous and self-driving vehicle solutions, at a major scale. These developments are expected to surge the market growth, during the forecast period
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Global Edge AI Market Analysis, By Component
6. Global Edge AI Market Analysis, By Data Source
7. Global Edge AI Market Analysis, By Application
8. Global Edge AI Market Analysis, by Geography
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
- Microsoft Corporation
- Alphabet Inc.
- IBM Corporation
- Anagog Ltd.
- Octonion SA.
- Synaptics Incorporated
For more information about this report visit https://www.researchandmarkets.com/r/o0fkhs
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