Report Id: SNS/ICT/2153 | July 2022 | Region: Global | 130 Pages
Edge AI Software Market Overview:
The Edge AI Software Market size was valued at USD 613.22 million in 2021 and is expected to reach USD 2096.44 million by 2028, and grow at a CAGR of 19.2 % over the forecast period 2022-2028.
The phrase "edge computing" refers to processing that takes a particular point of view into consideration. It brings data closer to the device or information source where it is most frequently required. Edge Computing enables IoT data to be processed locally to the point of origin rather than being transported over vast distances to data centers or the cloud. It has to do with dealing with persistent data close to the data source, which is termed the 'edge' of the relationship. Instead of a cloud or data collection zone, it is linked to active applications as close to the source of the data as possible.
Edge Artificial Intelligence (AI) software combines edge computing technology with machine learning. This AI program translates raw data into movements or events, forecasts, and insights without the need for costly data and large data research. The software tools available are in the form of frameworks and software development kits, and they provide the benefit of combining AI capabilities with software applications. An AI algorithm is executed on hardware devices using sensors and signals in this cutting-edge AI software. With the implementation of this system, there is a lower likelihood of remaining linked in real-time, since the system detects the connection and takes the choice dynamically.
Increasing enterprise cloud workloads.
The number of intelligent applications is rapidly increasing.
The emergence of a 5G network to connect IT and telecom.
Edge AI software deployment is being slowed by interoperability difficulties.
Edge AI standard optimization.
IMPACT OF COVID-19:
Every business has been impacted as the globe braces for the prolonged effect of the COVID-19 epidemic. Organizations throughout the world are adopting appropriate precautions to prevent pandemic risks, such as remote working capabilities, remote asset maintenance, and monitoring, plant automation, and telemedicine. A significant beneficial impact has been observed in the healthcare vertical, as companies have begun to recognize the potential of edge AI software in fighting the impact of COVID-19. This has resulted in increasing financing and research to ensure the safety and security of enterprises along the value chain. The market is predicted to expand slowly during the epidemic and then rebound with a greater adoption rate across verticals after the outbreak.
Because of its high demand, the solutions category is expected to account for the greatest market share. Because of the gradually rising usage of training and consulting services, the services category is predicted to increase at the quickest rate. Because of the significant product availability in this area, sensor data is expected to have the biggest market share. Due to the increasing application of biometric technology in numerous industries, biometric data is expected to rise at the quickest pace of approximately. Because of the expanding number of cutting-edge AI software applications in this industry, the energy management segment is predicted to account for the lion's share of the market. By the conclusion of the forecasting period, the video surveillance segment is expected to have a market value. Because of the increased use of healthcare, and IT in the travel, transport, and logistics sector, the travel, transport, and logistics category accounted for the greatest market share. The cross-vertical sector is predicted to increase, and the consumer segment is expected to outperform the market by the end of the projection period.
KEY MARKET SEGMENT:
On The Basis of Industry Vertical
Government & Public
Energy & Utilities
On The Basis of Component
On The Basis of Data Source
On The Basis of Application
Remote Monitoring & Predictive Maintenance
The worldwide edge AI software market has been divided into five regions: North America, Europe, Asia-Pacific, the Middle East, Africa, and South America. North America held the highest market share in 2021, and it is predicted to develop rapidly over the forecast period. However, the APAC region is witnessing great growth as a result of a variety of causes such as rising local enterprises and government programs geared at AI development. The major APAC countries are technologically advanced and provide substantial investment and income opportunities. The region is increasing rapidly due to a variety of causes, including rising local companies and government programs geared at AI development. The increasing volume of data created by edge devices across different industrial sectors, as well as rising consumer expenditure on smart solutions in countries, drive development in the APAC edge AI software market.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
The major key players are Alphabet Inc., Microsoft Corporation, IBM Corporation, Amazon Web Services, Inc., Nutanix, Synaptics Incorporated, SWIM.AI Inc., Imagimob AB, Anagog Ltd, TIBCO Software Inc.
|Market Size in 2021||US$ 613.22 Mn|
|Market Size by 2028||US$ 2096.44 Bn|
|CAGR||CAGR of 19.02% From 2022 to 2028|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Industry Vertical (Government & Public, Manufacturing, Automotive, Energy & Utilities, Telecom, Healthcare, Others)
• By Component (Solutions and Services)
• By Data Source (Speech Recognition, Biometric Data, Sensor Data, Mobile Data)
• By Application (Autonomous Vehicles, Access Management, Video Surveillance, Remote Monitoring & Predictive Maintenance, Telemetry, Energy Management, Others)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Alphabet Inc., Microsoft Corporation, IBM Corporation, Amazon Web Services, Inc., Nutanix, Synaptics Incorporated, SWIM.AI Inc., Imagimob AB, Anagog Ltd, TIBCO Software Inc.|
|Key Drivers||• Increasing enterprise cloud workloads.
• The number of intelligent applications is rapidly increasing.
|Challenges||• Edge AI software deployment is being slowed by interoperability difficulties.
• Edge AI standard optimization.
Frequently Asked Questions (FAQ) :
Ans: - The estimated market size for the Edge AI Software market for the year 2028 is USD 2096.44 million.
Ans: - Concerns about privacy and security in relation to edge AI solutions.
Ans: - The segments covered in the Edge AI Software Market report for study are On the Basis of Industry Vertical, Component, Data Source, and Application.
Ans: - North America held the highest market share in 2021, and it is predicted to develop rapidly over the forecast period.
Ans: - The primary growth tactics of Edge AI Software market participants include merger and acquisition, business expansion, and product launch.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID 19 Impact Analysis
4.2 Impact of the Ukraine- Russia war
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Edge AI Software Market Segmentation, by Industry Vertical
8.1 Government & Public
8.4 Energy & Utilities
9. Edge AI Software Market Segmentation, by Component
10. Edge AI Software Market Segmentation, by Data Source
10.1 Speech Recognition
10.2 Biometric Data
10.3 Sensor Data
10.4 Mobile Data
11. Edge AI Software Market Segmentation, by Application
11.1 Autonomous Vehicles
11.2 Access Management
11.3 Video Surveillance
11.4 Remote Monitoring & Predictive Maintenance
11.5 Energy Management
12. Regional Analysis
12.2 North America
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4.2 South Korea
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.3 South Africa
12.6 Latin America
12.6.3 Rest of Latin America
13. Company Profiles
13.1 Alphabet Inc.
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2. Microsoft Corporation
13.3. IBM Corporation
13.4 Amazon Web Services, Inc.
13.6 Synaptics Incorporated
13.7 SWIM.AI Inc.
13.8 Imagimob AB
13.9 Anagog Ltd
13.10 TIBCO Software Inc.
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share analysis
14.3 Recent Developments
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