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Organizations use various techniques to minimize their market offer and obtain an edge in the fast-growing Edge AI software sector. One popular strategy is separation, where companies focus on Edge AI features and skills. This might comprise high-level AI computations, continuous information management, or enterprise-specific applications. Companies emphasize these differentiators to attract customers seeking cutting-edge and customized solutions, creating a market scenario.
Another popular Edge AI software strategy is cost management. This strategy aims to make companies the lowest-cost supplier by improving procedures, forming good partnerships with technology suppliers, and conducting effective expense board practices. These companies target a large customer base by providing low prices, particularly those that value cost above cutting-edge features or premium services.
Market entry methods help Edge AI software providers grow. Increase marketing, penetrate new geographical markets, and target unexplored clientele. As Edge AI gains popularity, companies use it to identify strengths in growing industries and capture more market share.
Cooperation and organizations are crucial for Edge AI software market players. Collaborating with other innovation providers, industry participants, or research foundations may boost comprehensive arrangements, aid contributions, and shared assets. Cooperative undertakings allow businesses to unite expertise and resources, enhancing their seriousness and addressing tough Edge AI issues.
Additionally, Edge AI software market share depends on development. Organizations invest on innovation to stay ahead of mechanical advances. This involves constantly improving computations, software performance, and edge figuring issues. Companies differentiate themselves from competitors and ensure the importance of their Edge AI solutions in a rapidly changing mechanical context by always upgrading.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2022 | USD 0.4 Billion |
| Market Size Value In 2023 | USD 0.48 Billion |
| Growth Rate | 21.73% (2023-2032) |
Edge AI Software Market Highlights:
Edge AI Software Market Overview
Edge AI Software Market Size was valued at USD 0.4 billion in 2022. The Edge AI Software market industry is projected to grow from USD 0.48 Billion in 2023 to USD 2.35 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 21.73% during the forecast period (2023 - 2032). Rising interest in AI-enabled edge devices and rapid 5G network connectivity are the key market drivers enhancing market growth.
Figure 1: Edge AI Software Market Size, 2022-2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Edge AI Software Market Trends
- Growing of cloud computing in business driving the market growth
Market CAGR for cloud computing technology is driven by the Increasing adoption of cloud computing is driving daily data transfers to the cloud, which is likely to boost cloud workloads. Edge nodes and devices allow businesses to store and retrieve data that requires a real-time reaction and is only needed temporarily. It is made possible by edge AI software solutions. Artificial intelligence is growing as it finds increasing use in various contexts. These apps require a lot of computing power to do their jobs effectively and usefully, especially when dealing with duties like real-time data processing and data capture.
Additionally, artificial intelligence (AI) technologies normally serviced by a software as a service (SaaS) offering can now function offline or in conditions with low latency or bandwidth requirements thanks to edge computing. Edge AI enables businesses to deploy their machine learning models locally on edge devices, mitigating performance and latency concerns. Real-time input from AI systems can significantly improve essential software. Industrial-scale use cases, such as manufacturing and supply chain, stand to gain the greatest immediate benefits from edge AI. Due to the high cost of implementing edge AI systems, most business executives must see a substantial return on investment before making the plunge.
The efficiency of autonomous vehicles depends on their constant data transmission to the cloud. It is made possible by sophisticated AI and ML technologies that enable these autonomous driving Systems to make decisions. When self-driving cars link up with the network's periphery, they can increase productivity, lower accident rates, boost safety, and ease congestion.
For instance, ADLINK Technology Inc. collaborated with the Industrial Technology Research Institute and Tier IV to bring autonomous vehicles to the masses. The collaboration's primary goal was to advance traffic management systems and intelligent transportation using Autoware's open-source autonomous driving software. As a result, it is anticipated that throughout the projection period, demand for Edge AI Software will increase due to the rising technology rate. Thus, the driving factor of the Edge AI Software market revenue.
Edge AI Software Market Segment Insights
Edge AI Software Data Source Insights
The Edge AI Software Market segmentation, based on data source includes video and image recognition, speech recognition, biometric data, sensor data and mobile data. The sensor data and mobile data industry is expected to grow the fastest. New capabilities for smartphones, tablets, and wearable devices are emerging as computing spreads into every aspect of society. The computing demands of mobile applications are rapidly increasing to meet the growing popularity of computationally intensive mobile uses, such as virtual reality and real-time online gaming.
Edge AI Software Component Insights
The Edge AI Software Market segmentation, based on components, includes solutions and services. The solutions industry is expected to grow fastest and capture the market's largest share. Software solutions on the cutting edge of artificial intelligence enable firms to automate routine administrative tasks and increase output while decreasing costs. Services provided by Edge AI include training and consultancy, system integration and testing, support and maintenance, and standalone solution provisioning.
Figure 2: Edge AI Software Market, by Component, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Edge AI Software Application Insights
The Edge AI Software Market segmentation, based on application, includes autonomous vehicles, access management, video surveillance, telemetry, energy management, and others. The market for autonomous vehicles is expected to increase at a CAGR of 21.73% from 2022-2032, from $138.8 million. A rise in autonomous vehicle production with the aim of reducing traffic accidents and enhancing transportation systems is a key factor propelling the use of edge AI software in this context.
Edge AI Software Regional Insights
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Edge AI Software market will dominate this market, owing to increased interest and a rising number of edge AI software services initiatives in both countries. In addition, governments across North America are actively working to integrate software-based AI solutions across a wide range of sectors, including public utilities, financial institutions, transportation hubs, and airports.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: EDGE AI SOFTWARE MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe’s Edge AI Software market accounts for the second-largest market share due to increasing demand in the industrial, automotive, energy, and utility sectors for artificial intelligence in this area. Further, the German Edge AI Software market held the largest market share, and the UK Edge AI Software market was the fastest growing market in the European region
The Asia-Pacific Edge AI Software Market is expected to grow at the fastest CAGR from 2023 to 2032. The regional market expansion is anticipated to be fueled by the increased investments made by governments and increasing their global footprint by providing cutting-edge technological services to emerging markets. Moreover, China’s Edge AI Software market held the largest market share, and the Indian Edge AI Software market was the fastest growing market in the Asia-Pacific region.
For instance, Blaize and NEXTY Electronics Corp., a subsidiary of the Toyota Tsusho Group, have formalized NEXTY's status as a Blaize distribution partner to reach the Japanese industrial and automotive industries for edge and AI applications.
Edge AI Software Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help the Edge AI Software market grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Edge AI Software industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Edge AI Software industry to benefit clients and increase the market sector. In recent years, the Edge AI Software industry has offered some of the most significant technological development. Major players in the Edge AI Software market, including Microsoft Corporation (US), IBM Corporation (US), Amazon Web Services (US), Nutanix Inc. (US), Synaptics (US), TIBCO Software (US), Octonion SA (Switzerland), Intel Corporation (US), HPE (US), Oracle Corporation (US), Foghorn Systems (US), Gorilla TechnologyGroup (Taiwan), Azion Technologies (US), ClearBlade (US), TACT.Ai Technologies (US), SIXSQ (Geneva), ADAPDIX (US), and others are attempting to increase market demand by investing in research and development operations.
International Business Machines Corporation (IBM) is a Fortune 500 company with operations in more than 175 countries worldwide and is headquartered in Armonk, New York. Hosting and consulting services are also offered in addition to the company's primary focus on computer hardware, middleware, and software for everything from mainframes to nanotechnology. IBM is a company that offers various IT products and services. The firm develops and distributes its hardware and software, providing related services, including hosting and consulting. In March 2023, IBM announced that BESTSELLER India, a subsidiary of BESTSELLER based in India, will be working with IBM Consulting to implement critical transformation initiatives to help create an intelligent and autonomous fashion landscape quickly accelerate business growth.
Adapdix provides Autonomous Systems that quicken the process of going digital. Adapdix technology has been demonstrated to provide AI-enabled performance improvements with market-leading speed and value, as seen by the company's expanding portfolio of Fortune 500 customers. Adapdix is a startup that has called the San Francisco Bay Area home since its inception in 2015. In June 2022, Adapdix acquired Edge Intelligence, the first globally distributed data management platform for analytics built for edge computing and hybrid cloud environments, to further solidify its position as the market leader in AI-powered automation software.
Key Companies in the Edge AI Software market include
- Microsoft Corporation (US)
- IBM Corporation (US)
- Synaptics (US)
- Amazon Web Services (US)
- Nutanix Inc. (US)
- TIBCO Software (US)
- Octonion SA (Switzerland)
- Intel Corporation (US)
- HPE (US)
- Oracle Corporation (US)
- Foghorn Systems (US)
- Gorilla Technology Group (Taiwan)
- Azion Technologies (US)
- ClearBlade (US)
- Ai Technologies (US)
- SIXSQ (Geneva)
- ADAPDIX (US)
Edge AI Software Industry Developments
February 2024
Lenovo unveiled next-generation Integrated Edge AI Solutions for Telco at MWC 2024, which enable organizations to leverage enormous amounts of data at the far edge for scalable, transformative AI applications while reducing energy consumption, thereby enabling them to transcend the data center. Lenovo's hybrid AI solutions, which span from the pocket to the cloud, comprise an all-encompassing portfolio of advancements intended to streamline the journey toward intelligent transformation across all sectors. Partnerships with industry titans such as Telefonica are being formed with new clients in order to unleash the potential of artificial intelligence wherever data is generated and deliver it in real-time to enterprises at the periphery.
In light of the ongoing transformation of the telecommunications sector to facilitate the deployment of 5G and an AI-driven future, advancements in IT networks, cloud infrastructure, and peripheral computing are indispensable for interconnecting the digital economy of the present day. Edge computing enables enterprises to conduct real-time data analysis, facilitating the generation of actionable insights that enhance the efficiency of operations and services.
At MWC in Barcelona, Lenovo and its ecosystem of partners are showcasing a potent suite of new Lenovo Integrated Edge AI Solutions for Telco, which are designed to support the vast amount of computation that is migrating to the edge. Highlights consist of:
A recently developed multi-cloud edge computing architecture in collaboration with Telefonica addresses critical mission applications for smart cities. This architecture simplifies the utilization of data across city streets for various artificial intelligence use cases, such as identifying smoke and fire through video analytics and computer vision, enhancing public safety, and improving emergency response times.
By integrating Motorola's push-to-talk technology and its own Telco Cloud, Telefonica conducts a proof of concept to showcase the potential of multi-cloud at the periphery, artificial intelligence, and computer vision in notifying public safety officials of potential threats. By orchestrating the entire edge-to-cloud ecosystem, the novel solution integrates infrastructure, connectivity, and applications seamlessly to dependablely support public safety and augment emergency response through the utilization of real-time AI.
Edge AI Software Market Segmentation
Edge AI Software Data Source Outlook
- Video and Image Recognition
- Speech Recognition
- Biometric Data
- Sensor Data
- Mobile Data
Edge AI Software Component Outlook
- Solution
- Services
Edge AI Software Application Outlook
- Autonomous Vehicles
- Access Management
- Video Surveillance
- Remote Monitoring & Predictive Maintenance
- Telemetry
- Energy Management
Edge AI Software Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
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