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February 3 - The edge AI market will reach US$39.6 billion by the end of 2032, according to new research from Future Market Insights.

The market is expected to expand at a CAGR of 20.8% during the forecast period.

The growing demand for edge AI in end-use industries such as telecoms, IT, electronics and automotive is expanding the market size during the forecast period. Moreover, growing workload and rising smart applications are accelerating the edge AI market.

The adoption of edge AI by top organizations is increasing due to better work and efficiency. Moreover, the growing demand for edge AI is due to the increasing real-time processing and accuracy of data during forecasting.

In addition, the growing number of IoT and edge AI software devices is likely to increase the market share of edge AI over the forecast period. On the other hand, growing 5G technology in the IT industry is driving market growth in recent years. In terms of country, the U.S. market dominates the global market size, contributing the largest share of 23.4%.

Based on application segmentation, the market is further divided into video surveillance, remote monitoring and predictive maintenance. Amongst these markets, video surveillance holds a higher market share.

Video surveillance is likely to gain a share of 30.0% during the forecast period. The adoption of video surveillance is driven by the growing use of high technology and growing security concerns worldwide.

"Innovations in edge AI devices, including self-driving cars, drones, IoT gateways, and remote surgical devices, are driving market trends during the forecast period," said FMI analysts.

"Increasing adoption of smart edge AI system devices, including smart agriculture, smart metering, robot-assisted surgery, and autonomous driving, are adding to the market trend."