Edge AI Software Market Size, Share, Outlook, Industry Analysis and Outlook 2022 2027

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The global Edge AI Software market is expected to grow from USD 1,300.0 million in 2020 to USD 8,049.8 million by the end of 2027 at a compound annual growth rate (CAGR) of 29.8%.

Astute Analytica compiled this research report after gathering input from various industry experts. The market has been studied using various research tools that focus on market determinants along with other widely researched market elements. Edge AI Software Market Market sizing and estimation are some of the key elements considered in the research report. Edge AI software market analysis consists of a combination of quantitative and qualitative market analysis of data using various statistical tools.

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Despite the driving factors, security and privacy issues associated with vulnerability to cyber attacks are expected to hamper the market growth. During the COVID-19 pandemic, the healthcare segment using advanced AI software has seen positive growth as the software has led to increased funding and research to keep businesses safe throughout of the value chain.

Growth Influencers:

Advances in AI-powered IoT (Internet of Things) for intelligent systems and smart applications

The artificial intelligence sector is witnessing the emergence of a range of applications in various verticals. All of these applications require massive computing power to perform activities such as real-time data capture and processing. While working with cloud technology, AI applications experience various latency issues and lead to difficulty in offering quick responses. Edge AI software helps keep resources at the edge of the network. This allows applications to operate with high bandwidth and low latency. Hence, advancements in AI-powered IoT (Internet of Things) for smart systems and smart applications are expected to drive the market growth.

Presentation of the segments:

The global edge AI software market is segmented into components, data sources, applications and end users.

By component

  • Solutions
  • Software tools
  • Platform
  • Services
  • Training and consulting services
  • System integration and testing
  • Support and maintenance

The solutions segment is estimated to account for the largest market share of around 80% due to its high demand. The services segment is expected to grow at the fastest CAGR of 30.6% due to the slow and growing adoption of training and consulting services. The support and maintenance segment holds a market size of USD 337.3 million in 2020.

By data source

  • Biometric data
  • Mobile data
  • Sensor data
  • Speech recognition
  • Video and image recognition

Sensor data is expected to hold the largest market share of around 26% owing to the high product availability in this segment. Biometric data is estimated to be growing at the fastest rate of about 30.4% owing to the increasing adoption of biometric technology in various industries.

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By app

  • Access control
  • Autonomous vehicles
  • Energy management
  • Predictive maintenance
  • Remote monitoring
  • Telemetry
  • Video surveillance
  • Others

The energy management segment is expected to account for the dominant share of the market owing to the growing number of advanced AI software applications in this industry. It is estimated that the CCTV segment will reach a market value of around $500 million by 2025.

By end users

  • Advanced Industries
  • Bank and insurance
  • Chemicals and agriculture
  • Consumer
  • vertical cross
  • Energy and materials
  • Health care
  • Infrastructure
  • Media and entertainment
  • Public sector and public services
  • Detail
  • Travel, transport and logistics

The travel, transportation and logistics segment accounted for the largest market share of around 21% owing to the growing adoption of health IT in the travel, transportation and logistics industry. It is estimated that the inter-vertical sector will witness a growth rate of around 30.3% and the consumer segment is expected to surpass a market value of around USD 262.4 million by 2025.

Regional overview:

On a regional basis, the global edge AI software market is segmented into Europe, North America, Asia-Pacific, Middle East & Africa and South America.

The Asia-Pacific region held the largest market share of around 38% due to the increasing adoption of technologically advanced solutions in the market and the growth of the travel industry in countries like India and the Japan. North America experienced a growth rate of approximately 30.9% due to the growth of the healthcare IT industry in the United States and Canada.

Competitive Landscape:

Key players operating in the global Edge AI Software Market include Alef Edge, Inc., Anagog Ltd., AWS, Azion Technologies, Bragi.Com, Chaos Prime, Inc., Clearblade, Inc., Foghorn Systems, Inc., Google , Gorilla Technology Group, Inc., IBM, Imagimob, Microsoft, Nutanix, Octonion, Sixsq Sarl, Synaptics, TACT.AI, TIBCO Software, Veea Inc. and other leading players.

The 2 major market players hold around 25-30% of the market share. These players are engaged in product launches, mergers and acquisitions, and collaboration, among others. For example, in January 2021, TIBCO Software, Inc. acquired Information Builders, advancing its connected intelligence platform by adding Information Builders data management and analytics capabilities.

The Global Edge AI Software Market report provides insights into the pointers below:

  • Market Penetration: Provides comprehensive market insights offered by major players
  • Market Development: The report offers detailed information on lucrative emerging markets and analyzes penetration in mature segments of the markets.
  • Market Diversification: Provides detailed information on untapped geographies, recent developments and investments
  • Competitive Landscape Assessment: Mergers and acquisitions, certifications, product launches in the global Edge AI Software market have been provided in this research report. In addition, the report also emphasizes on the SWOT analysis of key players.
  • Product Development and Innovation: The report provides smart insights into future technologies, R&D activities and breakthrough product developments

The Global Edge AI Software Market report answers questions like:

  • What is the market size and forecast of the Global Edge AI Software Market?
  • What are the inhibiting factors and impact of COVID-19 on the Global Edge AI Software Market during the assessment period?
  • What are the products/segments/applications/areas to invest in during the assessment period in the Global Edge AI Software Market?
  • What is the competitive strategic window for opportunities in the Global Edge AI Software Market?
  • What are the technology trends and regulatory frameworks in the global Edge AI software market?
  • What is the market share of the major players in the global Edge AI software market?
  • What modes and strategic moves are considered favorable for entering the global Edge AI Software market?

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