About Edge AI Software
The global Edge AI Software market is expected to boost demand in the forecasted period due to rapid growth in the number of intelligent applications and smart devices and the rise in demand for device-side computation. Edge AI software consists of AI algorithms that process data and analyze at the edge, end-devices, or locally on a hardware device. In simple terms, AI algorithms are implemented directly on a device that collects data i.e. sensor data or signals. The edge AI software devices are a mix of Machine Learning (ML) and edge processing innovation and consequently transforms raw information into insights, events, and forecasts, without huge information and expensive analysis. The software tools that are being offered in the Edge AI Software Market are Software Development Kits (SDKs) and systems, which enable clients to incorporate AI capacities in the application software.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 26.2% |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Edge AI Software market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
IBM (United States), AWS (United States), Google (United States), Microsoft (United States), Nutanix (United States), TIBCO (United States), Octonion (Switzerland), SWIM.AI (United States), Imagimob (Sweden) and Anagog (Israel) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Foghorn Systems (United States), XNOR.AI (United States), Bragi (Germany), Invision.AI (Canada), Tact.ai (United States) and Veea Systems (England).
Segmentation Overview
AMA Research has segmented the market of Global Edge AI Software market by , Application (Autonomous Vehicles, Access Management, Video Surveillance, Remote Monitoring and Predictive Maintenance, Telemetry (Location Services), Energy Management and Others) and Region.
On the basis of geography, the market of Edge AI Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Data Sources, the sub-segment i.e. Video and Image Recognition will boost the Edge AI Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry Vertical, the sub-segment i.e. Government and Public will boost the Edge AI Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Solutions [Software Tools, Platform] will boost the Edge AI Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
High Adoption due to Growth in Number of Intelligent Applications and The Rise in Demand for Device-Side Computation
Market Growth Drivers:
The Growing Enterprise Workloads on the Cloud and The Rise in Need for Scalability, High Connectivity, Low Power Consumption, and Reduced Latency among Diverse Industrie
Challenges:
Interoperability Issues Slowing the Adoption of Edge AI Software and Optimization of Edge AI Standards
Restraints:
The Growing Privacy and Security Concern Associated with Edge AI Solutions
Opportunities:
The Emergence of the 5g Network to Bring IT and Telecom Together and The Rising Popularity of Edge AI Software in Autonomous Vehicles' Applications
Market Leaders and their expansionary development strategies
In December 2023, Celerra One launched its "Edge AI as a Service" platform, offering pre-trained AI models and cloud-based management tools for edge devices. This makes deploying AI at the edge easier and more accessible.
On December 5, 2023, Microsoft and ARM announced a partnership to develop new edge AI solutions for the industrial and retail sectors. The partnership will combine Microsoft's Azure cloud platform with ARM's Cortex-M processors to deliver real-time insights from connected devices.
Key Target Audience
Edge AI Software Providers, Government Regulatory Bodies, Private Research Organization, Government Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.