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Edge AI Software Market: Segmented: By Component {Solutions (Software Tools, Platform), Services (Training & Consulting, System Integration & Testing, Support & Maintenance)}; By Data Sources (Video & Image Recognition, Speech Recognition, Biometric Data, Sensor Data, Mobile Data); By Application {Autonomous Vehicles, Access Management, Video Surveillance, Remote Monitoring & Predictive Maintenance, Telemetry (Location Services), EnergyManagement}; and Region - Analysis of Market Size, Share & Trends for 2016-2019 and Forecasts to 2030
[ 170+ Pages Research Report ] Edge AI Software Market size & share estimated to reach USD 1160 million by 2030, growing at a CAGR of 30.05% during the forecast period 2020-2030.
Edge Artificial Intelligence (AI) software is a combination of cutting-edge computing and machine learning technology. This AI app converts raw data into moves or events, forecasts, observations without expensive data analysis, and big data. The software tools offered are in the form of frameworks and software development kit that offers the benefit of merging AI capabilities with software apps. With the help of sensors and signals, an AI algorithm is processed on the hardware devices in this edge AI program. There is no need to remain attached to devices as it can be independently processed without any contact and is able to make decisions.
The global edge AI software market is anticipated to grow on the back of the rising amount of enterprise workloads on the cloud and the rapid growth in the number of intelligent applications.
Integrating edge devices with AI will help rising risks, latency, and reliability is expected to drive growth in the edge AI software market across the globe. Additionally, the rising need for real-time operations that are important for robots, self-driving cars, and the increasing demand from various end-users are factors expected to fuel the growth of the global edge AI software market.
Platforms segment to grow at the fastest CAGR of xx% during 2020-2030
The global edge AI software market is segmented by components into solutions (software tools, platforms) and services (training & consulting, system integration & testing, support & maintenance). Among these, the platform segments comprised of the largest market share of xx% in the year 2019. The edge AI platforms offer users AI applications that enable small devices with intelligence and data processing capabilities. The users can extract actionable insights in real-time from the data generated at the edge and enhance the customers’ experience.
Video & Image Recognition segment to grow at the fastest CAGR of xx% during 2020-2030
The worldwide edge AI software market is segmented by data sources into video & image recognition, speech recognition, biometric data, sensor data, and mobile data. Among these, the video & recognition segment is estimated to hold the largest market share of xx% in 2019. Most of the vendors in the market offer edge AI software to analyze images, videos, gestures, acoustics, and motions, locally on the devices. With the advent of AI and machine learning (ML) in edge devices, users can now extract entities from videos and images and build applications to discover information from the videos.
Quick Prototype
Transforming the business requirements into technological solutions needs plenty of time and planning. Therefore, with the help of machine learning, the developers can shorten this process by simply enabling the less technical domain professionals in order to develop the technologies by using visual interfaces of natural languages.
Accurate Estimates
It is seen that software development always overflows the budget and deadlines pre-decided. To cope with this, accurate estimates require profound expertise, an understanding the context, and being familiar with the team of implementers. Machine learning helps train data from past projects be they user accounts, descriptions of functions, and estimates to predict effort and budget.
North America is expected to be the fastest-growing region with a CAGR of xx% during 2020-to 2030
The global edge AI software market is segmented by region into North America, Latin America, Europe, Middle East & Africa, and the Asia Pacific. Among these, North America is witnessed to hold the largest market share of xx% in the year 2019. Growing investments in the data management strategies, the presence of the maximum number of edge AI software vendors, and increasing government spending on AI-based technologies are expected to contribute to the market growth during the forecast period.
The global edge AI software market is further segmented by region into:
The COVID-19 has become global stress, not only for human lives, but also to industries across different industry verticals. The COVID-19 pandemic has infected several million people globally. With the rising number of active cases on a regular basis, the duration of the pandemic is still difficult to predict. Yet the adverse effect of COVID-19 can be felt upon the global edge AI software market owing to the fluctuation in demand for products associated with AI in edge software, the effect on production units due to the implementation of lockdown norms in many nations worldwide and others.
IBM Corporation
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, Analysis
Edge AI Software Segments:
The Edge AI Software Market size was estimated at USD 1160 million in 2021 and expected to reach USD XX million by 2031
IBM Corporation, Foghorn Systems, Nutanix Inc., Imagimob, Google, Envision AI, Microsoft, Octonion, View Systems, TIBCO
Platforms segment and Video & Image Recognition segment are anticipated to hold the largest Edge AI Software Market.
Drivers: Quick Prototype
Edge Artificial Intelligence (AI) software is a combination of cutting-edge computing and machine learning technology. This AI app converts raw data into moves or events, forecasts, observations without expensive data analysis, and big data. The software tools offered are in the form of frameworks and software development kit that offers the benefit of merging AI capabilities with software apps.
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