Edge AI Software Market by Component (Services, Solution), Data Source (Biometric Data, Mobile Data, Sensor Data), Application, End-use - Global Forecast 2024-2030

Edge AI Software Market by Component (Services, Solution), Data Source (Biometric Data, Mobile Data, Sensor Data), Application, End-use - Global Forecast 2024-2030

The Edge AI Software Market size was estimated at USD 1.25 billion in 2023 and expected to reach USD 1.58 billion in 2024, at a CAGR 26.55% to reach USD 6.54 billion by 2030.

Edge AI refers to the deployment and utilization of AI in an edge computing environment, which allows complex computations to be done closer to where data is collected rather than at a centralized cloud computing facility or an offsite data center. Edge AI software allows machine learning algorithms to be run on a physical hardware device. Edge AI software is primarily employed in various sectors, including industrial automation, surveillance, robotics, and IoT devices. The need for real-time processing, with reduced latency and bandwidth consumption, has fueled the demand for edge AI software within these sectors, broadening the scope of the industry. The enhancement in cognitive computing capabilities, along with the surge in data generated from various smart devices, has created numerous potential opportunities for edge AI software. Difficulty of integration and handling of edge AI software and the need for a significant amount of resources to maintain edge AI software can deter new entrants in the field. Furthermore, data privacy and security issues and a lack of standardized protocols for inter-device communications have posed hurdles to the widespread adoption of edge AI software. However, manufacturers are constantly investing in R&D initiatives to improve the privacy protocols and data security of their software services. The most promising areas for innovation and research in edge AI software are attributed to sectors such as cybersecurity, automated Healthcare systems, and smart cities. Technological advancements such as 5G connectivity, quantum computing, and advancements in natural language processing (NLP) provide opportunities for future innovation.

Regional Insights

The demand for edge AI Software in the Americas, notably in the United States and Canada, is fueled by technological advancements and a growing user base. These countries are characterized by high investment in AI research, technological patents, data centers, and computing technologies. Furthermore, the rapid adoption of IoT and sensor technologies in industrial use cases has driven the demand for edge AI software. EU countries, driven by stringent data privacy regulations, are striving to increase the use of edge AI, lessening the need for data transport. European nations are also characterized by robust research infrastructure for AI programs and technologies, contributing to significant advancements in edge AI software. In the EU, edge computing devices and technologies equipped with AI software are rapidly being deployed to advance healthcare research. In the APAC region, China, Japan, and India drive the adoption of edge AI software due to their vast consumer base and rapid digital transformation. China has government-backed programs for technological research and smart city initiatives. Meanwhile, Japan is investing heavily in robot technology along with AI-infused solutions, thereby demonstrating a broad scope for edge AI software. India’s landscape for edge AI software holds massive potential due to its tech-savvy demographics and growing digital ecosystem.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Edge AI Software Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Rising Use of Edge Devices and Integration of IoT Devices
    • Increasing Demand for Enhanced Data Privacy and Security
    • Intensifying Usage of Social Media and eCommerce Platforms
    • Market Restraints
      • Privacy and Security Concerns Related to Edge AI Solutions
      • Market Opportunities
        • Improvements in Edge AI Software
        • Significant Investment for Expanding 5G Network Worldwide
        • Market Challenges
          • Interoperability Issues Slowing the Adoption of Edge AI Software
          • Market Segmentation Analysis
            • Component: Research initiatives to support advancements in edge AI software solutions
            • Data source: Generation of sensor data due to growing utilization of sensor technologies in industries
            • Application: Growing sustainability concerns driving adoption of edge AI software in energy management
            • End-use: Need to ensure optimum data security and privacy in government & public Sector
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Edge AI Software Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Edge AI Software Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • Eurotech announces a new secure edge AI portfolio complying with the IEC 62443 cybersecurity standard
              
              Eurotech has recently revealed a comprehensive portfolio of Edge AI software solutions. These specialized solutions provide users with the most up-to-date and secure technology, in line with the established IEC 62443 cybersecurity standard. Edge AI is ushering in a new era of technology that allows for efficient communication and data collection from systems, applications, or machines located at the edge of the network. Due to Eurotech's forward-thinking approach, organizations can take advantage of these technologies while mitigating potential associated cybersecurity risks. Companies can now rest assured knowing their systems are completely protected by the highest industry standards when integrating Eurotech's Edge AI solutions into their system infrastructure.
              
              Thundercomm Announces the Release of EB3Gen2 Edge AI Station to Drive Digital Transformation Across IoT Solutions
              
              Thundercomm's release of the EB3Gen2 Edge AI Station is a major leap forward for digital transformation across IoT solutions. The hardware-agnostic platform enables advanced analysis and computing, making it ideal for DIY projects and small businesses leading to lowered costs and less expensive maintenance compared to other resources, such as cloud computing. With the EB3Gen2 Station, users can benefit from high-speed connectivity and optimized analytics performance when assessing operational data-driven scenarios. Thundercomm's technology also enables an open ecosystem where developers can quickly create applications with maximum insight into resource consumption, ensuring that their projects stay on track and are completed efficiently. In short, this is a clear advantage for organizations looking for cost-saving ways to power their digital transformation initiatives.
              
              Microsoft brings Bing AI features to Edge sidebar
              
              Microsoft's Edge AI features recently debuted in the browser sidebar, offering a new tool designed to help enhance web searches. It crafts detailed descriptions of the content on the screen while providing additional relevant information to make browsing more intuitive. The market allows users access to more intelligent search functions and insights that traditionally would have taken longer to locate manually. The AI capabilities of Microsoft Edge will add further convenience and versatility for consumers as they navigate their way through the internet and arrive at their desired destination faster than ever before.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Edge AI Software Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the Edge AI Software Market, highlighting leading vendors and their innovative profiles. These include Adapdix, Inc., Alef Edge, Inc., Amazon Web Services, Inc., Anagog Ltd., Atos SE, Azion Technologies, Inc., Blaize, byteLAKE s.c., ClearBlade, Inc., Ekinops S.A., Eurotech S.p.A., Google LLC by Alphabet, Inc., Gorilla Technology Group Inc., Gorilla Technology Inc., Hailo Technologies Ltd., Imagimob AB, Infineon Technologies AG, Intel Corporation, International Business Machines Corporation, Johnson Controls International PLC, Kinara Inc., Kneron, Inc., Mavenir Systems, Inc., Microsoft Corporation, Numurus LLC, Nutanix, Inc., NVIDIA Corporation, Synaptics Incorporated, T-DAB.AI Ltd., Tact.ai Technologies, Inc., Tata Elxsi Limited, TIBCO Software Inc., Veea Inc., VMWare, Inc., and ZEDEDA, Inc..
            
            Market Segmentation & Coverage
            
            This research report categorizes the Edge AI Software Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Component
              • Services
                • Support & Maintenance
                • System Integration & Testing
                • Training & Consulting
                • Solution
                  • Platform
                  • Software Tools
                  • Data Source
                    • Biometric Data
                    • Mobile Data
                    • Sensor Data
                    • Speech Recognition
                    • Video & Image Recognition
                    • Application
                      • Access Management
                      • Autonomous Vehicles
                      • Energy Management
                      • Precision Agriculture
                      • Remote Monitoring & Predictive Maintenance
                      • Smart Wearables
                      • Telemetry
                      • Video Surveillance
                      • End-use
                        • Automotive
                        • Energy and Utilities
                        • Government & Public Sector
                        • Healthcare
                        • Manufacturing
                        • Telecom
                        • Region
                          • Americas
                            • Argentina
                            • Brazil
                            • Canada
                            • Mexico
                            • United States
                              • California
                              • Florida
                              • Illinois
                              • New York
                              • Ohio
                              • Pennsylvania
                              • Texas
                              • Asia-Pacific
                                • Australia
                                • China
                                • India
                                • Indonesia
                                • Japan
                                • Malaysia
                                • Philippines
                                • Singapore
                                • South Korea
                                • Taiwan
                                • Thailand
                                • Vietnam
                                • Europe, Middle East & Africa
                                  • Denmark
                                  • Egypt
                                  • Finland
                                  • France
                                  • Germany
                                  • Israel
                                  • Italy
                                  • Netherlands
                                  • Nigeria
                                  • Norway
                                  • Poland
                                  • Qatar
                                  • Russia
                                  • Saudi Arabia
                                  • South Africa
                                  • Spain
                                  • Sweden
                                  • Switzerland
                                  • Turkey
                                  • United Arab Emirates
                                  • United Kingdom
                                  
                                  
                                  Please Note: PDF & Excel + Online Access - 1 Year