The Global Edge Artificial Intelligence (AI) Software Market size reached USD 585.1 Million in 2020 and is expected to register a CAGR of 20.1%, during the forecast period, according to latest analysis by Emergen Research. Global edge Artificial Intelligence software market revenue growth is expected to be driven by increasing number of AI applications, rapid introduction of 5G network globally, and rising demand for real-time operations, which are crucial for robotics and self-driving vehicles.
However, concerns regarding privacy and security of edge AI software is expected to hamper growth of the global edge AI software market to a certain extent over the forecast period.
Some Key Highlights from the Report
The solution segment revenue is expected to expand at a significant CAGR during the forecast period. Increasing adoption of edge AI software across various industries due to high flexibility and support provided by edge AI solutions is expected to boost revenue growth of this segment going ahead.
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The video & image recognition segment is expected to lead in terms of revenue over the forecast period due to increasing adoption of edge AI software for video & image recognition across various industries.
The video surveillance segment is expected to lead in terms of revenue over the forecast period due to increasing adoption of edge AI software for video surveillance to enhance surveillance and tracking while decreasing the quantity of data transferred to the cloud.
The telecom segment is expected to lead in terms of revenue over the forecast period due to increasing adoption of edge AI software among telecom companies to manage mobile generated data for business process.
Factors such as increasing strategic alliances among major IT companies to develop advanced edge AI software in countries in North America is expected to drive growth of the market in the region during the forecast period.
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Key players in the market include Microsoft Corporation, Alphabet Inc., Nutanix, Inc., International Business Machines Corporation, Synaptics Incorporated, Bragi GmbH, TIBCO Software Inc., FogHorn Systems, Inc., Invision AI Inc., and Amazon Web Services.
In October 2019, FogHorn Systems, Inc. introduced a new Lightning Edge AI software functionality. Tools and upgrades for inspiring operations technology (OT) experts are among the functions. The modern drag-and-drop analytic software functionality and richer visualization dashboards allow OT personnel to draw insights from real-time data quite easily without any requirement of data science support.
Emergen Research has segmented the global edge AI software market on the basis of component, data source, application, end-use, and region:
Component Outlook (Revenue, USD Million; 2018–2028)
- Services
- Solutions
Data Source Outlook (Revenue, USD Million; 2018–2028)
- Mobile Data
- Biometric Data
- Video & Image Recognition
- Sensor Data
- Speech Recognition
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Application Outlook (Revenue, USD Million; 2018–2028)
- Video Surveillance
- Telemetry
- Autonomous Vehicles
- Remote Monitoring
- Field Service Support
- Energy Management
- Smart Wearables
- Precision Agriculture
- Predictive Maintenance
- Access Management
- Point of Sales
- Augmented Reality & Virtual Reality
- Others
End-Use Outlook (Revenue, USD Million; 2018–2028)
- Manufacturing
- Government
- BFSI
- Healthcare
- Retail
- Telecom
- Media & Entertainment
- Energy & Utilities
- Automotive
- Others
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Regional Outlook (Revenue, USD Million; 2018–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of MEA
Key Objectives of the Report:
- Analysis and estimation of the Edge Artificial Intelligence (AI) Software market size and share for the projected period of 2020-2027
- Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape
- Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Edge Artificial Intelligence (AI) Software market
- Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments
- Strategic recommendations to the established players and new entrants to capitalize on the emerging growth opportunities
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About Emergen Research
Emergen Research is a Marketresearch and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer Marketintelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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