Global Edge AI Software Market Size By Data Source ( Mobile Data, Sensor Data), By Component (Solution, Services), By Application (Energy Management, Telemetry), By Vertical ( Healthcare, Telecom), By Geographic Scope And Forecast

Edge AI Software Market Size And Forecast

Edge AI Software Market size was valued at USD 672.99 Million in 2021 and is projected to reach USD 3464.69 Million by 2030, growing at a CAGR of 19.97% from 2022 to 2030.

Owing to the increasing enterprise workloads on the cloud the global Edge AI Software Market is expected to propel its demand during the forecasted period. Growth in the number of intelligent applications promises to drive the market toward the adoption of edge AI solutions and services. The Global Edge AI Software Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Edge AI Software Market Definition

Edge AI Software processes AI algorithms locally on a hardware device. The algorithms are using data that are created on a device. It is not required for a device to be connected to a network. It is capable of processing the data and take decisions independently without a connection. Edge AI software works on devices with a microprocessor and sensors.

Edge AI allows real-time operations including data creation, decision, and action where milliseconds matter. Real-time operations are can be applied for self-driving cars, robots, and many other areas. Edge AI also tends to reduce costs for data communication because fewer data will be transmitted. Local processing prevents compromising the privacy of the data. Edge AI software proves helpful for all the above-stated reasons.

Global Edge AI Software Market Overview

There has been an emergence of numerous applicants concerning different verticals. These applications require massive computing power for performing various operations such as capturing and processing data in real-time, AI facilitates these operations for an organization which makes it a driving factor for this market.

Edge AI avoids latency issues like other conventional AI running on cloud platforms by placing the computing resources at the edge of the network. This allows the applications to function on low latency and high bandwidth. This feature of edge AI software attracts more firms to adopt edge AI into their ecosystem which fuels the market demand further.

Increasing automation and the use of wearable devices also drive the Edge AI Software Market towards market growth during the forecasted period. The advent of the 5G network is bringing IT and telecommunications together which promises various opportunities for the Edge AI Software Market as well. However, one of the stagnating factors for the Edge AI Software Market is the security concerns revolving around the data collected during this process.

Global Edge AI Software Market Segmentation Analysis

The Global Edge AI Software Market is segmented on the basis of Data Source, Component, Application, Vertical, And Geography.

Edge AI Software Market, By Data Source

• Mobile Data
• Sensor Data
• Biometric Data
• Speech Recognition
• Video and Image Recognition
• Others

Based on Data Source, The market is segmented into Mobile Data, Sensor Data, Biometric Data, Speech Recognition, Video and Image Recognition, and Others. Mobile Data Source is when the data processed by Edge AI is being sourced from a mobile device. Search engine data and news feed can be some examples of mobile data. Sensor data detects and responds to some type of input from the physical environment.

The output may be largely utilized in providing information or input to another system or to guide a process. Biometrics can be explained as body measurements and calculations related to human characteristics. Speech recognition implies audio recordings of human speech that are used to train a voice recognition system. Video and image recognition is the ability of edge AI software to acquire, process, and analyze data coming from visual sources like videos.

Edge AI Software Market, By Component

• Solution
• Services

Based on Component, The market is segmented into Solution and Services. Edge AI software can provide solutions like software tools and provide a cloud platform for data processing and gaining valuable insights.

Edge AI Software Market, By Application

• Energy Management
• Telemetry
• Remote Monitoring and Predictive Maintenance
• Video Surveillance
• Autonomous Vehicles
• Others

Based on Application, The market is segmented into Energy Management, Telemetry, Remote Monitoring and Predictive Maintenance, Video Surveillance, Autonomous Vehicles, and Others. Edge AI software can detect and analyze the power levels of any energy circuit and can derive valuable conclusions about power consumption which can later prove to be helpful for an enterprise.

Telemetry implies the process of recording and transmitting the readings of an instrument. Video surveillance is an area where edge AI can prove to be useful as one of the data sources for Edge AI software is video and image recognition. Autonomous vehicles and EVs are equipped with voice commands which perform specific actions when instructed to do so. Edge AI can be applied for speech recognition for an efficient UI.

Edge AI Software Market, By Vertical

• Healthcare
• Telecom
• Energy and Utilities
• Automotive
• Manufacturing
• Others

Based on Vertical, The market is segmented into Healthcare, Telecom, Energy and Utilities, Automotive, Manufacturing, and Others. Telecom vertical is a space where edge AI is already popular and the integration of the 5G network along with telecommunications promises a plethora of opportunities for integration of edge AI with telecom. Increasing autonomous vehicles equipped with voice control is another promising vertical for edge AI software implementation and application.

Edge AI Software Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of Geography, The Global Edge AI Software Market is classified into North America, Europe, Asia Pacific, and the Rest of the world.

Key Players

The “Global Edge AI Software Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are DeepBrainz AI, Kneron Inc, Horizon Robotics, Tact.ai Technologies Inc, Veea Inc, Invision AI Inc, Edgeworx, StrataHive, Deci & Reality Analytics Inc. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Report Scope

Top Trending Reports

Research Methodology of Market Research

To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our .

Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

Customization of the Report

• In case of any please connect with our sales team, who will ensure that your requirements are met.