Edge AI Software Market Size is expected to reach $2773.2 Million by 2027
Increasing enterprise workloads on the cloud and rapid growth in the number of intelligent applications. Advantages such as minimize the bandwidth required to execute the solution, and lower the latency of response time, secure data processing improves user experience with hyper-personalization and lowers costs by speeding up processes and making devices more energy efficient, are expected to increase the Edge AI software market.
Integrating Artificial Intelligence (AI) with the Internet of Things (IoT) in edge devices helps enterprises to minimize latency, reduce bandwidth, lessen threats, avoid duplication, improve reliability, and maintain compliance. Moreover, edge AI software solutions enable an organization to utilize the computing resources in an optimal manner, minimize the bandwidth required to execute the solution, and lower the latency in particular response time.
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North America is expected to hold one of the largest market shares during the forecast period. Organizations in North America, especially in the United States, have taken advantage of AI, machine learning, and deep learning technologies to remain ahead of the competition. The region's economies are well-established, allowing edge AI software vendors to invest in new technologies.
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On the other hand, APAC is expected to be one of the fastest-growing regions during the forecast period. The major factors fueling the growth of the edge AI software market in the APAC region are the growing amount of data generated from edge devices across various industry verticals, increasing consumer spending on smart solutions in countries, such as China, Japan, Australia, and India.
Edge AI Software Market Segmentation
Edge AI Software Market by Solution
o Software Tools
Edge AI Software Market by Application
o Autonomous Vehicles
o Access Management
o Video Surveillance
o Remote Monitoring & Predictive Maintenance
Major Players in the Edge AI Software Market
o Foghorn Systems
o Veea Inc
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