Opportunity: Business Growth after COVID-19 for Edge AI Software Market

Local data processing helps in avoiding the risk of streaming or storing large chunks of data in the cloud. Edge AI helps in protecting the privacy of any industry by keeping the data safe.

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Benefits of Edge AI Solutions

Edge AI has various advantages. Some of them are mentioned below:

• Edge AI is known for its flexibility. Ranging from the growth of industry-specific or location-specific requirements, from medical monitoring to building energy management, edge AI-enabled smart devices are supportive of different industries and activities.

• Highly responsive Edge-based AI performs faster in real-time compared to the centralized IoT model deployed till date. Understandings and feedback are delivered and processed instantly within the same devices.

• Edge AI also provides a high level of safety and security. Data streamed via internet-connected devices are vulnerable to breaching and other cybercrimes. With enhanced security features, Edge AI-powered devices help minimizing this risk.

• No special expertise is required to operate the Edge AI empowered devices. The device offers the necessary insights automatically on the spot through rich graphical interfaces or consoles.

• Another advantage of the Edge AI-powered devices is that it offers great user experiences to the customers. Location-awareness services, redirecting travel plans in the event of delays are some of the situations when AI offers its support and extends the company’s brand identity.

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Applications of AI on the Edge

• Image analytics

Edge AI is extensively used in image analytics. One instance of this type of application is the real-time recognition of a continuously changing scene based on video streaming, a process that requires high data bandwidth if performed in the cloud.
Edge AI enables limited analysis of the visual scene in different flavors, such as user verification for secure access, instantaneous multi-object detection, understanding the scene for context analysis, and recognition for obstacle evasion.

• Audio Analytics

Another application of edge AI is analyzing a visual scene in all its elements. An audio scene can be fragmented into small parts by deep learning and edge AI. Edge AI can recognize an audio/voice among plentiful overlapping sounds swiftly and effectively.

It can detect sounds of a baby crying, glass falling and breaking, or the screeching of a car wheel from numerous overlapping voices and sounds.

• Inertial/Environmental Sensor Analytics

Inertial and environmental sensors are essential to smart watches, fitness bands, smart buildings, homes, and factories. An edge AI helps in analyzing the local situations swiftly and provide fast response. Here are some examples:

Body Monitoring: Wearable devices such as smart watches and fitness bands collect and record a lot of data about the user’s location, activity, heart rate, and real-time health-related data. These information are helpful to keep track of the health, diet, or other necessary activities.

Predictive Upkeep in Factories: Edge AI sensors attached to a machine can measure its temperature, vibration, and noise levels which helps in detecting any anomalies or fault in the system.

Impact of COVID-19 on the Edge AI software Industry

The coronavirus pandemic has brought drastic change in the way we perform work. There are changes in industries, economic slowdown, massive layoffs, and job losses. However, the global market for edge AI software has experienced a positive impact.

As the lockdowns were imposed across countries to curb the spread of the virus, the supply chain came to a halt. This resulted in the stoppage of the manufacturing processes. As the manufacturing units have been going through a drastic downfall, most companies are adopting edge AI software for complete automation in work processes to run the operational flow smoothly. This has contributed to the growth of the edge AI software market during the pandemic.

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This release was published on openPR.