USD 1.48 Billion
Edge AI Software Market Size, Share, Growth Analysis, By Component(Solutions and Services), By Data Source(Video & Image Recognition, Iris & Facial Data, Sensor Data, Mobile Data), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45E2169 |
Region:
Global |
Published Date: March, 2024
Pages:
197
|Tables:
63
|Figures:
77
Edge AI Software Market Insights
Global Edge AI Software Market size was valued at USD 1.48 Billion in 2022 and is poised to grow from USD 1.84 Billion in 2023 to USD 10.33 Billion by 2031, at a CAGR of 24.10% during the forecast period (2024-2031).
The use of edge AI software enables real-time operations like data creation and decision-making. In order to increase wearable gadget battery life, edge AI software is used in the manufacturing process. A huge amount of data can be saved in the cloud using edge AI software, which also avoids the problems associated with streaming and improves the privacy of the data stored there. Additionally, this software is used in the telecom and enterprise sectors because it supports multi-cloud and makes it possible to run cutting-edge AI analytical software, which aids in gaining full action in a shorter amount of time. The automobile industry is not an exception to the new era of opportunity brought about by edge AI breakthroughs. Additionally, with the advent of new technologies, the autonomous vehicle market is anticipated to expand rapidly, and edge computing will be essential to this expansion. In comparison to 4G networks, edge AI computing will provide better data governance, lower costs, and faster insights, according to industry experts, opening up new potential for the sector. Due to the fact that less data will be transported, edge AI also tends to lower data communication costs. The privacy of the data is not compromised by local processing.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Solutions
Fastest Growth
Solutions
Growth Rate
24.10% CAGR
Global Edge AI Software Market 2021-2030 ($ Bn)
Country Share for North America Region- 2021 (%)
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Edge AI Software Market Segmental Analysis
Global Edge AI Software Market is segmented on the basis of component, data source and region. By component, the market is segmented into solutions and services. By data source, market is segmented into video & image recognition, iris & facial data, sensor data, mobile data, speech recognition. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Data Source
During the projected period, the mobile data segment is expected to have the highest CAGR. Because computing is becoming more pervasive in many facets of life, smartphones, tablets, and wearable technology now have more capabilities. To address the demand for computationally intensive applications, such virtual reality and real-time online gaming, for mobile consumers, computing requirements for mobile applications are rising quickly. MEC, or mobile edge computing, offers enough computational and storage capabilities close to mobile consumers. Prior generations of wireless networks focused primarily on providing sufficient wireless speeds to support the transition from voice-centric to multimedia-centric environments. In order to support communications, processing, control, and content delivery, 5G networks have a considerably different and more complicated role.
The fastest predicted growth will be in the sensor segment. As computing permeates every aspect of society, new features are being added to smartphones, tablets, and wearable technology. As computationally intensive mobile uses like virtual reality and real-time online gaming gain popularity, the computing requirements for mobile applications are rising quickly to keep up.
Analysis by Component
Over the course of the forecast, the solutions category will represent a greater market share. Software solutions powered by edge AI help businesses automate routine operations, boost productivity, and cut expenses. As for services, they include training and consultation, system integration and testing, support and maintenance, as well as integrated and independent Edge AI software solutions. Edge AI software-based solutions are more widely used than services by businesses as they automate numerous workflow operations.
These services segment involve the deployment and integration of Edge AI software into existing IT infrastructure. Service providers work closely with organizations to ensure a smooth and efficient implementation process, including software installation, configuration, and customization.
Global Edge AI Software Market Size By Component 2021(%)
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Edge AI Software Market Regional Insights
With a revenue share of 39.9% in 2022, North America controlled the majority of the market. With the introduction of cutting-edge 5G network technology, the region is anticipated to continue seeing growth. The region's businesses have placed a strong emphasis on implementing cutting-edge technologies like AI, deep learning, and machine learning, which is what is driving the expansion. For instance, to merge Synaptic' Katana edge AI with the edge software development platform, the U.S. hardware business Synaptic Incorporated teamed up with Edge Impulse, a machine-learning development platform for edge devices, in California. The goal of this collaboration is to speed up the deployment of low-power edge AI by enabling developers to build models that are ready for production.
Over the course of the prediction, Asia Pacific is expected to increase dramatically. The advantages of information-intensive AI and ML technologies are being utilized in numerous Asian countries' industries. For instance, to promote AI edge computing products of Blaize in Japan's industrial and automotive industries, Blaize, a semiconductor manufacturer in the United States, teamed up with NEXTY Electronics, a provider of electrical components and equipment in Japan. Through analysis of customer demands across many industries and promotion of edge AI applications made possible by Blaize's low latency, low power AI technology, this partnership aims to be innovative.
Global Edge AI Software Market Size By Geography, 2021-2030
- Largest
- Fastest
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Edge AI Software Market Dynamics
Drivers
Accelerating the adoption of Remote Work to Boost Growth
- Businesses have come to understand that remote work can lower costs related to infrastructure and office space as many employees have discovered they are more productive when working from home. This will lead to an increase in demand for remote employment. Companies are making investments in remote work technology including project management software, cloud-based file-sharing platforms, and virtual meeting platforms to make it easier for remote workers to collaborate. In order to ensure that remote employees can access company networks and data securely, cybersecurity measures are becoming more and more necessary as remote work adoption rises.
- The worldwide edge AI software market is transforming the way businesses work as a result of the development of new technologies and applications driven by artificial intelligence. For customer service and assistance, for instance, AI-powered chatbots and virtual assistants are gaining popularity, which eliminates the need for human engagement. Tools with artificial intelligence (AI) are being utilised in the healthcare sector to examine medical images and aid in disease diagnosis. AI is being utilized in manufacturing to streamline production procedures and decrease downtime. The development of autonomous cars, which have the potential to completely change the transportation sector, is also being fuelled by AI. Businesses of all sizes and industries are anticipated to benefit as technology progresses and becomes more widely available.
Restraints
Limited Computational Power at the Edge to Hinder market
- Edge devices, such as smartphones, IoT devices, and edge servers, often have limited computational power compared to cloud-based systems. This constraint can limit the complexity and scale of AI algorithms that can be deployed at the edge, potentially impacting the performance and capabilities of Edge AI software solutions.
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Edge AI Software Market Competitive Landscape
The market is characterized by fierce competition, with a few major global rivals controlling a sizable portion of the industry. Collaboration between the key actors and the development of new products are the main priorities.
Top Player’s Company Profiles
- Google LLC (United States)
- Microsoft Corporation (United States)
- Qualcomm Technologies, Inc. (United States)
- Apple Inc. (United States)
- Huawei Technologies Co., Ltd. (China)
- Amazon Web Services, Inc. (United States)
- Samsung Electronics Co., Ltd. (South Korea)
- Cisco Systems, Inc. (United States)
- Dell Technologies, Inc. (United States)
- Baidu, Inc. (China)
- Alibaba Group Holding Limited (China)
- Tencent Holdings Limited (China)
- HPE (Hewlett Packard Enterprise) Company (United States)
- Fujitsu Limited (Japan)
- NEC Corporation (Japan)
- Advanced Micro Devices, Inc. (United States)
- Xilinx, Inc. (United States)
- Cognex Corporation (United States)
- Edge Impulse (Netherlands)
Recent Developments
- In March 2023, Google Cloud announced the launch of its new edge AI platform, Edge TPU. The platform is designed to make it easier for developers to build and deploy edge AI applications.
- IBM and Wasabi Technologies, a popular cloud storage provider, announced their partnership in March 2023 with the goal of promoting data innovation in hybrid cloud environments.
- In February 2023, Amazon Web Services announced the launch of its new edge AI service, AWS DeepLens. The service is designed to make it easier for developers to build and deploy edge AI applications for video surveillance.
Edge AI Software Key Market Trends
- The convergence of edge computing and cloud computing is becoming more prevalent. Edge AI software solutions are designed to work in synergy with cloud-based AI platforms, allowing for seamless data transfer, model training in the cloud, and edge-based inferencing, enabling organizations to leverage the strengths of both edge and cloud computing. This trend increases the demand of Edge AI softwares for making it reliable solutions in various applications.
- AI at the Edge for Real-time Processing represents the increasing demand for artificial intelligence (AI) capabilities utilized directly at the edge of networks and devices, enabling data analysis and decision-making. In applications like autonomous vehicles, industrial automation, and augmented reality, where split-second responses are critical, edge AI software is essential. This trend addresses the need for rapid data processing in scenarios where immediate insights and actions are paramount, making edge AI an integral part of modern computing solutions.
Edge AI Software Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analyses, the edge AI software market has witnessed substantial growth due to the increasing adoption of edge computing and the growing demand for real-time data processing and analysis. The market size has been driven by various factors, including the proliferation of edge devices, advancements in AI algorithms and models, and the need for low-latency and privacy-preserving solutions. The global edge AI software market is driven by the increasing adoption of edge computing, advancements in AI algorithms, and the need for real-time data processing and analysis. As edge devices become more pervasive and industries continue to embrace AI-powered applications, the market is expected to witness sustained growth and innovation in the coming years.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 1.48 Billion |
| Market size value in 2031 | USD 10.33 Billion |
| Growth Rate | 24.10% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Edge AI Software Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Edge AI Software Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Edge AI Software Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Edge AI Software Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Edge AI Software Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Edge AI Software Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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