Press release
Increasing Demand for Smart Applications Propels Edge AI Software Industry Growth
Moreover, the lockdown caused by the global pandemic had positively impacted the industry, resulting in the wide usage of software in the healthcare sector to better understand, how to tackle COVID-19.
For instance, it helps in collecting data from various sectors and making a decision based on them. Organizations utilize computerized infrastructure to start with the usual business exercises. Moreover, digitalization advances the medical care and training verticals at an extensive rate.
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Under the data source segment, the video & image recognition category captures the largest industry share, and it is projected to follow the same trend in the near future. It is ascribed to the rising demand for edge AI software for video surveillance applications, as it is designed to reduce the risks and increase crime prevention.
Edge AI software is widely utilized for video surveillance, and it is projected to capture the largest industry share in the coming years. It is led by a growing requirement for security and observing frameworks based on software, and utilized by developers, encouraging the usage of edge AI software for video surveillance.
In addition, the autonomous vehicles category is predicted to reflect substantial progress in the coming years. It is ascribed to rising interest and investments in autonomous vehicles. Moreover, the advancement in autonomous vehicles, including level 3 and level 4 variants boost the edge AI software adoption.
North America contributes the largest industry share, and it is projected to experience the fastest growth in the near future. It is led by the rising focus on technical R&D in the region, which results in earlier adoption of advanced technologies, such as AI in the region.
The IoT applications development is a major factor that propels the interest in edge AI software, as edge computing offers solutions to IoT challenges. IoT applications involve dealing with a device that interacts with each other through the internet. AI facilitates devices to learn from the collected data.
The advancements in AI software have resulted in rising demand for intelligent applications. Such applications need high computing power for collecting and processing information to provide effective and massive outcomes.
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The rising demand for ongoing data processing efficiency boosts the interest in AI software. Therefore, companies focus on developing AI-enabled applications in numerous sectors, which aids the expansion of the industry.
Therefore, the rising demand for smart applications and advancement in IoT technology propels the edge AI software industry growth.
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