Edge AI Software Market Size, Share, Industry Analysis, Trends, Growth, Forecasts, 2032

Edge AI Software Market Insights

According to the report published by Zion Market Research, the global Edge AI Software Market size was valued at USD 520.4 Million in 2023 and is predicted to reach USD 5556.9 Million by the end of 2032. The market is expected to grow with a CAGR of 30.1% during the forecast period. The report analyzes the global Edge AI Software Market's growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Edge AI Software industry.

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Global Edge AI Software Market: Overview

Edge AI software is a combination of artificial intelligence and edge computing. It uses machine learning algorithms to process the data that is been generated locally by a hardware device. In real-time, to process the data and make decision, the device does not require any internet connection. A device consisting of a sensor and microprocessor is required to use Edge AI software.

Global Edge AI Software Market: Growth Factors

The global Edge AI software market is growing at a significant rate. Some of the crucial factors that are spurring the growth of the global market are the growing penetration of AI in several industries, growing corporate activities leading to a rise in the use of cloud computing, and an increase in the number of the policy of bring your own device. Edge AI software allows real-time operations such as data creation, decision making, and action within a matter of milliseconds. Such real-time operations are very crucial for robots, self-driving cars, and several other sectors. Additionally, as less data is transmitted, Edge AI minimizes the cost of data communication. Also, as the data is processed locally, Edge AI eradicates the privacy problem of transmitting and storing millions of the data in the cloud. All such beneficial properties have led to the rise in the adoption of Edge AI software by several industries thereby boosting the growth of the global Edge AI software market.

Further, Edge AI is an autonomous technology as from the AI developers & data scientists no specialized maintenance is required for the Edge technology devices. This is also fueling the market growth. Moreover, the rise in automation in several industries, the rapidly growing automotive industry, and the increase in the development of IoT are also some of the key aspects that are propelling the growth of the global market. Furthermore, the rapidly expanding IT and telecom industry with the emerging 5G network will result in advantageous opportunities for the growth of the global Edge AI software market over the forecast period. However, rising concerns of security may hinder the growth of the global Edge AI software market.

The current COVID-19 pandemic has knelt the world by affecting almost every business. To overcome such situations many organizations are focusing on alternative ways such as remote working, monitoring, and systems automation to continue business operations. This has positively influenced the demand for edge AI software in the healthcare and manufacturing industries. High demand for edge AI software in this pandemic period is supported by the emergence of the 4G & 5G network, and growing demand in remote video surveillance. Further, many organizations around the world are planning to adopt edge AI software to overcome future unpredicted conditions. This in turn is expected to boost the demand for Edge AI software over the forecast period.

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Global Edge AI Software Market: Segmentation

The global Edge AI software market is divided based on component, application, data source, vertical, and region.

Based on the component, the global Edge AI software market is bifurcated into solution and services.

The application segment is segregated into autonomous vehicles, energy management, telemetry, remote monitoring & predictive maintenance, video surveillance, access management, and others.

Based on the data source, the global market is split into video & image recognition, mobile data, sensor data, biometric data, and speech recognition.

The vertical segment consists of government & public, healthcare, telecom, energy & utilities, automotive, manufacturing, and others.

Edge AI Software Market: Report Scope

Global Edge AI Software Market: Regional Analysis

North America is expected to hold the largest share in the global edge AI software market. Some of the prominent factors that are contributing to the large share of the market in this region include the high adoption of digital technologies, the growing use of AI in many industries, primarily in healthcare, and government initiatives to use advanced technologies. Asia Pacific is expected to register rapid growth in the global edge AI software market. Factors such as growing investments in AI-based applications in several sectors in developing countries such as India and China are supporting the rapid growth of the market. Europe is a house of automobile and healthcare industry with the growing application of edge AI software in the healthcare and automobile sector, Europe is expected to contribute significant revenue in the global edge AI software market over the forecast period.

Global Edge AI Software Market: Competitive Players

Some of the key players operating in the global Edge AI software market are:

• TIBCO Software Inc.
• Alphabet Inc.
• Anagog Ltd.
• Imagimob AB
• SWIM.AI Inc.
• Synaptics Incorporated
• Nutanix
• Amazon Web Services, Inc.
• IBM Corporation
• Microsoft Corporation among others.

The Global Edge AI Software Market is segmented as follows:

By component 

• solution
• services 

By application 

• autonomous vehicles
• energy management
• telemetry
• remote monitoring & predictive maintenance 
• video surveillance
• access management
• and others

By data source 

• video & image recognition
• mobile data
• sensor data
• biometric data
• and speech recognition

By vertical 

• government & public
• healthcare
• telecom 
• energy & utilities
• automotive
• manufacturing 
• and others

Global Edge AI Software Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.