Edge AI Market is projected to grow at a CAGR of 20.1% through 2029 and is currently valued at US$ 14.54 Bn in 2022. The Edge AI Market is expected to become $54.38 Bn by 2029.

Edge AI Market Overview:

The Edge AI market is currently experiencing a notable shift as consumers increasingly prioritize sustainability and ethical practices in their purchasing decisions. With a growing awareness of the environmental impact of fast fashion, there is a rising demand for accessories crafted from eco-friendly materials and produced through ethical manufacturing processes. This trend is reshaping the industry, prompting brands to adopt transparent supply chains and incorporate sustainable practices into their business models. Furthermore, technology is playing a pivotal role in enhancing the customer experience, with augmented reality (AR) applications and virtual try-on features gaining popularity, allowing shoppers to visualize accessories before making a purchase. The market is also witnessing a surge in the popularity of unique, artisanal pieces that showcase craftsmanship and individuality. As consumer values and preferences evolve, the Edge AI market is adapting to align with a more conscious and tech-savvy consumer base.

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Edge AI Market Scope:

The Edge AI market is experiencing a broadening scope, driven by a combination of factors that reflect the diverse needs and preferences of today's consumers. The integration of technology, such as smart accessories and wearable tech, is expanding the market beyond traditional boundaries. Smartwatches, fitness trackers, and other technologically advanced accessories are gaining popularity, providing both style and functionality. Additionally, the market is witnessing a surge in customization and personalization trends, with consumers seeking unique and bespoke accessories that align with their individual tastes. E-commerce continues to play a pivotal role, offering consumers a convenient platform to explore and purchase a wide range of accessories from the comfort of their homes. Collaborations between fashion brands and celebrities or influencers are also contributing to the market's expansion, creating exclusive and aspirational collections that resonate with consumers. The global nature of the industry allows for the incorporation of diverse cultural influences, further enriching the market with a variety of styles and designs. As the Edge AI market continues to evolve, its scope reflects the intersection of technology, individualization, and global connectivity.

Edge AI Market Segmentation:
 
By Component: Hardware, software, Edge Cloud Infrastructure, and services are the components that can be used to segment the Edge AI market. By dividing the market according to these factors, it is possible to concentrate on analyzing the essential factors that influence the functionality and performance of edge devices, enabling customized solutions for particular requirements.

Memory comprises RAM, ROM, and NVM choices, whereas hardware processors include CPUs, GPUs, FPGAs, and ASICs. Sensors, which can include temperature sensors, microphones, and cameras, gather information from their surroundings. Additional parts include input/output interfaces, specialized hardware accelerators, connectivity modules, and power management units.
 
By Application: The Edge AI market can be divided into submarkets according to the various uses it has, such as energy management, video surveillance, access control, autonomous cars, and other diversified industries. Edge AI is used by video surveillance apps to provide improved security and real-time video analysis. Edge AI is used by access management to provide secure authentication and access control systems. For onboard processing and decision-making in navigation and collision avoidance, autonomous cars depend on Edge AI. Edge AI is utilized in energy management to optimize energy consumption and facilitate smart grid management. Furthermore, Edge AI finds use in a number of industries, including manufacturing, retail, healthcare, and agriculture. By breaking the market down into segments according to applications, industry-specific strategies and focused solutions can be implemented to satisfy the unique needs of each segment.
 
Edge AI Market Size and Forecast, by Component (2022-2029)
1. Hardware
2. Software
3. Edge Cloud Infrastructure
4. Services
Edge AI Market Size and Forecast, by Application (2022-2029)
1. Video Surveillance
2. Access Management
3. Autonomous Vehicles
4. Energy Management
5. Others
Edge AI Market Size and Forecast, by Device type (2022-2029)
3. Smartphones
3. Cameras
3. Robots
4. Wearables
5. Smart speakers
6. Surveillance Cameras
7. Edge Servers
8. Smart Mirrors
Edge AI Market Size and Forecast, by Data Sources (2022-2029)
1. Mobile Data
2. Sensor Data
3. Biometric Data
4. Speech, Video and Image Recognition
Edge AI Market Size and Forecast, by Industry (2022-2029)
1. Automotive
2. Manufacturing
3. Healthcare
4. Energy and Utility
5. Consumer Goods
6. IT & Telecom
7. Others (Retail)
Edge AI Market Size and Forecast, by Region (2022-2029)
1. North America
2. Europe
3. Asia Pacific
4. Middle East and Africa
5. South America
 
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Edge AI Market Key Players: The key players are

North America:

1. Apple Inc. (United States)
2. Oracle Corporation (United States)
3. General Electric Company (GE) (United States)
4. Honeywell International Inc. (United States)
5. NVIDIA Corporation (United States)
6. Intel Corporation (United States)
7. Microsoft Corporation (United States)
8. Google LLC (United States)
9. Advanced Micro Devices, Inc. (AMD) (United States)
10. Xilinx, Inc. (United States)
11. Cisco Systems, Inc. (United States)
12. Dell Technologies Inc. (United States)
13. Hewlett Packard Enterprise (HPE) (United States)
14. Amazon Web Services (AWS) (United States)
15. Advanced Micro Devices, Inc. (AMD) (United States)

Europe:

16. IBM Corporation (United States, but major presence in Europe)
17. Accenture PLC (Ireland)
18. Siemens AG (Germany)
19. SAP SE (Germany)

Asia Pacific:

20. Huawei Technologies Co., Ltd. (China)
21. Samsung Electronics Co., Ltd. (South Korea)
22. MediaTek Inc. (Taiwan)
23. Baidu, Inc. (China)
24. Fujitsu Limited (Japan)
25. NEC Corporation (Japan)

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Edge AI Market Regional Analysis:

The Edge AI market prediction research is created after a thorough examination of many geographical areas, including Asia-Pacific, Europe, North America, and the rest of the globe. North America has the greatest power over the Edge AI market share and will continue to be a major shareholder in the global Edge AI market.

COVID-19 Impact Analysis on Edge AI Market: The COVID-19 impact on the Edge AI market is also included in the report

Key Questions Answered in the Edge AI Market Report are:

  • What will be the CAGR of the Edge AI market during the forecast period?
  • Which segment emerged as the leading segment in the Edge AI market?
  • Which are the prominent players in the Edge AI market?

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