Edge AI Software Market Registering a Strong Growth by 2028

Edge AI Software Market Research Report: Information by Component(Solution [Software Tools and Platform] and Services [Training & Consultation Services, System Integration & Testing, and Support & Maintenance]), Data Source (Video and Image Recognition, Speech Recognition, Biom

Edge AI software Market Analysis

The edge AI software market is growing at a rapid pace, mainly due to increasing demand for better data security. Besides, the proliferation of connected smart devices drives the market demand, generating a massive amount of data. Augmenting uptake of edge AI in growing numbers of businesses augments the market demand.

With edge AI software impacting modern digital enterprises, the market is projected to garner vast gains in the years to come. In this regard, Market Research Future (MRFR) asserts that the global edge AI software market is poised to reach USD 2271.73 MN, growing at a 21.3% CAGR throughout the assessment period (2020 – 2027).

Conversely, safety security concerns and vast investments requirements impede the market growth. Nevertheless, advances in machine learning (ML), deep learning (DL) applications, and Internet of Things (IoT) algorithms would support the market growth throughout the review period. 

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Edge AI software Market – Segmentations

The report is segmented into components, data sources, verticals, and regions. The component segment is bifurcated into solutions and services. The data source segment is bifurcated into biometric data, video image recognition, speech recognition, mobile data, sensor data, and others. 

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

The vertical segment is bifurcated into energy utilities, manufacturing, government public, automotive, healthcare, telecom, and others. The region segment is sub-segmented into North America, Asia Pacific, Europe, the Middle East Africa, and others.

Edge AI software Market- Regional Analysis

North America is the largest market for edge AI software globally. Vast technological advances and well-established infrastructures in the region drive the market size. Besides, increased adoption of the edge AI software and government programs encouraging advancements in IoT cloud technologies act as major tailwinds for the market growth. 

Edge AI software Market – Competitive Landscape

Highly competitive, the edge AI software market appears fragmented, with several well-established players forming a competitive landscape. Strategic approaches, such as mergers acquisitions, collaborations, expansions, and new technologies/product launches, are key trends for industry players to gain a larger competitive share. They make substantial investments in driving new product developments technologies and expansion plans. 

Major Players: 

Players active in the global edge AI software market are IBM Corporation (US), Amazon Web Services (US), Microsoft Corporation (US), Synaptics (US), TIBCO Software (US), Nutanix Inc. (US), Intel Corporation (US), HPE (US), Octonion SA (Switzerland), Foghorn Systems (US), Gorilla Technology Group (Taiwan), Oracle Corporation (US), ClearBlade (US), TACT.Ai Technologies (US), Azion Technologies (US), ADAPDIX (US), ALEF EDGE (US), and SIXSQ (Geneva), among others.

Industry/Innovation/Related News:

Sep. 29, 2021 -- Synaptics Incorporated announced a partnership with Edge Impulse, a leading development platform for ML on edge devices, to accelerate low power edge AI deployment. 

This partnership would enable Synaptics to create, train and deploy custom models for a wide range of AI applications, combining Synaptics’ Katana ultra-low-power edge AI platform with the Edge Impulse software development platform. The proven software platform enables the fast development of embedded ML models for Katana SoCs in power-sensitive, intelligent IoT applications.

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