The most recent study conducted by Report Ocean, titled “Global Edge AI Software Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Edge AI Software. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Edge AI Software Market is valued at approximately USD 0.48 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 20.3 % over the forecast period 2020-2027. In a cloud-based server farm, artificial intelligence is currently carried out mainly. Most of the preparation for AI is done through the training of deep learning models, which includes specialized computer skills. AI derivation, which is performed after preparation, and is typically less compute-focused, has been largely ignored from an AI processing perspective. Numerous factors such as growing enterprise workloads on the cloud and fast growth in the number of intelligent applications are likely to drive the adoption of the edge AI services and solutions.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Edge AI software is used in connected vehicles as it aids in data processing immediately with safe hardware that is used to run the linked cars or autonomous vehicles. For instance, in august 2020, Bosch and Pony.AI have partnered on fleet management of automobile vehicles with the assistance of AI software.
Edge AI software is used in administration of different data which in turn facilitates business to enhance speed, bandwidth, improved data analysis, enhanced individual experience, and reduce latency, which is anticipated to boost the global market in the forecast period. However, the increase of security violations, attacks, and Denial of Service (DoS) on systems, such as base stations, routers, and switches, are limiting the adoption of edge AI solutions, thus, hampering the market growth.
The regional analysis of the global Edge AI Software Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share, as numerous AI service suppliers in North America are checking in the Edge AI software market by integrating machine learning (ML) and artificial intelligence (AI) functionalities with their current edge AI solutions. Whereas Asia Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027, owing to numerous reasons such as the expansion of local enterprises and government initiatives that are concentrated on advancements in AI technology.
Major market player included in this report are:
Alphabet Inc.
Microsoft Corporation
IBM Corporation
Amazon Web Services, Inc.
Synaptics Incorporated
Imagimob AB
TIBCO Software Inc.
Octonion SA.
FogHorn Systems
Gorilla Technology Group
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Type offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Component:
Solutions
Services
By Applications:
Autonomous Vehicles
Access Management
Video Surveillance
Remote Monitoring and Predictive Maintenance
Telemetry
Energy Management
Others
By Data Source:
Video and Image Recognition
Speech Recognition
Biometric Data
Sensor Data
Mobile Data
By Vertical:
Government and Public
Manufacturing
Automotive
Energy and Utilities
Telecom
Healthcare
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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- Provision of market cost (USD Billion) records for every section and sub-segment
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- Analysis via geography highlighting the consumption of the product/service in the location as properly as indicating the elements that are affecting the market inside every region
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