Global Edge AI Software Market, By Component (Solutions and Services), By Data Source (Video & Image Recognition, Speech Recognition, Biometric Data, Mobile Data & Sensor Data), By Application (Access Management, Video Surveillance and Others), By End User (Energy & Utilities, Automotive, Government, Manufacturing, IT & Telecom and Others), By Region, Competition, Forecast & Opportunities, 2024
Global Edge Artificial Intelligence (AI) Software market is expected to grow at a CAGR of over 25% during 2019 – 2024 on account of significant increase in the number of intelligent applications. Edge artificial intelligence software allows processing, aggregation, computation and analysis of data present in the edge devices by leveraging IoT and artificial intelligence technologies. Integration of artificial intelligence in edge devices helps to minimize latency, lessen threats and improve reliability which is promoting the growth of the market. Moreover, increasing workload of enterprises on cloud is further likely to elevate demand for global edge AI software market through 2024.
Global edge AI software market can be segmented based on the component, data source, application, end user and region. Based on component, the market can be bifurcated into solutions and services. Edge AI software solutions integrate machine learning and edge computing technology so as to derive crucial insights without costly analysis, thereby boosting the growth of solutions segment through 2024. On the basis of data source, global edge AI software market can be segmented into video & image recognition, speech recognition, biometric data, mobile data and sensor data. Video & image recognition led the market in 2018 and the trend is expected to continue during forecast period as edge AI software is used to analyze images and videos, locally on the devices. Edge artificial intelligence software caters to various end user segments such as government, manufacturing, IT & telecom, automotive, energy & utilities and others. Manufacturing and Energy & Utilities verticals acquired the largest shares in 2018 as the vertical includes technology driven operations, which depend on real-time insights.
Regionally, global edge AI software is gaining traction and expanding to various regions across the globe. North America is leading global edge AI software market and is likely to maintain its position during forecast period as well on account of high investments by public and private sectors in artificial intelligence and machine learning technologies in the economies of the region.
Major players operating in global edge AI software market include Google LLC, Amazon Web Services Inc., Microsoft Corp., Nutanix Inc., TIBCO Software Inc., IBM Corporation, Octonion SA, Anagog, Veea, among others. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020–2024
- Objective of the Study:
- To analyze and forecast the market size of global Edge AI Software market.
- To classify and forecast global Edge AI Software market based on component, data source, application, end user, and regional distribution.
- To identify drivers and challenges for global Edge AI Software market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global Edge AI Software market.
- To identify and analyze the profile of leading players operating in global Edge AI Software market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of service providers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the service providers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the service offerings and presence of all major service providers across the globe.
TechSci Research calculated the market size of global Edge AI Software market using a bottom-up approach and top-down approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Edge AI Software service providers
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to Edge AI Software
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, global Edge AI Software market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Market, By Component:
- Training & Consulting
- Support & maintenance
- Market, By Data Source:
- Video & Image Recognition
- Speech Recognition
- Biometric data
- Mobile data & Sensor data
- Market, By Application:
- Access Management
- Video Surveillance
- Remote Monitoring & Predictive Maintenance
- Market, By End User:
- Energy & Utilities
- IT & Telecom
- Market, By Region:
- North America
- United States
- United Kingdom
- Asia Pacific
- South Korea
- South America
- Middle East & Africa
- Saudi Arabia
- South Africa
Company Profiles: Detailed analysis of the major companies present in global Edge AI Software market.
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to five).
Printing is not available on single-user licenses.