Edge AI Software Market
Posted by jayashree on September 25th, 2019
Edge AI Software Market was valued at US$ 346.3Mn in 2017 and is expected to reach US$ 1986.3Mn by 2026, at a CAGR of 24.4% during a forecast period.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global Edge AI Software Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the Global Edge AI Software Market.
Artificial intelligence (AI) processing today is generally done in a cloud-based data centre. The majority of AI processing is dominated by training of deep learning models, which needs heavy compute capacity. Edge AI processing currently is focused on moving the inference part of the AI workflow to the device, keeping data constrained to the device. There are various different reasons why AI processing is moving to the edge device, depending on the application. Security, cost, latency, privacy, & bandwidth all essential to being considered when evaluating cloud versus edge processing.
The major factors driving the market growth include the growing enterprise workloads on the cloud and rapid growth in the number of intelligent applications. The increasing adoption of edge AI software in autonomous vehicles’ applications could offer growth opportunities for the AI edge software vendors in the market.
In terms of data source, mobile data source segment is expected to grow at the highest rate throughout the forecast period, owing to the increasing demand to deploy edge AI software to analyze massive amounts of data generated by mobile devices.
Energy and utilities vertical is dominating the global edge AI software market. The energy and utility vertical comprise high-stake, technology-driven operations, which depend on real-time insights to provide proactive monitoring and protection beside machinery and equipment failure. Mainly operations happen at a remote area and lack reliable network infrastructure; edge AI software provides data analytics on edge devices to enable real-time response, which is essential for extreme production and safety.
Region-wise, North America is the important income creating a region in the edge AI software market globally. North America is seeing significant improvements in the edge AI software space. Various AI service suppliers in North America are testing in the Edge AI software market by incorporating ML and AI functionalities with their present edge AI solutions. They are furthermore embracing different development methodologies to reinforce their situation in the edge AI software market.
Google is one of the main technology players on the edge AI software market. It relies heavily on its organic growth strategy and continuously goals for upcoming up with innovative next-gen products. Google is making major R&D investments in areas of strategic focus, for instance, advertising, cloud, ML, and search, as well as, in new products and services. Google has made important investments and advancements in AI.
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Scope of Global Edge AI Software Market
Global Edge AI Software Market, by Component
o Software Tools
o Training and Consulting Services
o System Integration and Testing
o Support and Maintenance
Global Edge AI Software Market, by Data Source
• Video and Image Recognition
• Speech Recognition
• Biometric Data
• Sensor Data
• Mobile Data
Global Edge AI Software Market, by Application
• Autonomous Vehicles
• Access Management
• Video Surveillance
• Remote Monitoring and Predictive Maintenance
• Energy Management
Global Edge AI Software Market, by Verticals
• Government and Public
• Energy and Utilities
Global Edge AI Software Market, by Region
• North America
• Asia Pacific
• Middle East and Africa
• South America
Key Players operating in Global Edge AI Software Market
• Foghorn Systems
• Invision AI
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About the Authorjayashree
Joined: June 25th, 2019
Articles Posted: 65
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