Edge AI Software Market worth $6.54 billion by 2030, growing at a CAGR of 26.55% - Exclusive Report by 360iResearch

The "Edge AI Software Market by Component (Services, Solution), Data Source (Biometric Data, Mobile Data, Sensor Data), Application, End-use - Global Forecast 2024-2030" report has been added to 360iResearch.com's offering.

The Global Edge AI Software Market to grow from USD 1.25 billion in 2023 to USD 6.54 billion by 2030, at a CAGR of 26.55%.

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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.

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 Segmentation & Coverage:

This research report categorizes the Edge AI Software Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Component, market is studied across Services and Solution. The Services is further studied across Support & Maintenance, System Integration & Testing, and Training & Consulting. The Solution is further studied across Platform and Software Tools. The Services commanded largest market share of 57.22% in 2023, followed by Solution.

Based on Data Source, market is studied across Biometric Data, Mobile Data, Sensor Data, Speech Recognition, and Video & Image Recognition. The Mobile Data commanded largest market share of 30.22% in 2023, followed by Sensor Data.

Based on Application, market is studied across Access Management, Autonomous Vehicles, Energy Management, Precision Agriculture, Remote Monitoring & Predictive Maintenance, Smart Wearables, Telemetry, and Video Surveillance. The Video Surveillance commanded largest market share of 23.22% in 2023, followed by Remote Monitoring & Predictive Maintenance.

Based on End-use, market is studied across Automotive, Energy and Utilities, Government & Public Sector, Healthcare, Manufacturing, and Telecom. The Telecom commanded largest market share of 32.52% in 2023, followed by Government & Public Sector.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 42.39% in 2023, followed by Americas.

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FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Edge AI Software Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Edge AI Software Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

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..

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Edge AI Software Market, by Component
7. Edge AI Software Market, by Data Source
8. Edge AI Software Market, by Application
9. Edge AI Software Market, by End-use
10. Americas Edge AI Software Market
11. Asia-Pacific Edge AI Software Market
12. Europe, Middle East & Africa Edge AI Software Market
13. Competitive Landscape
14. Competitive Portfolio

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Edge AI Software Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Edge AI Software Market?
3. What is the competitive strategic window for opportunities in the Edge AI Software Market?
4. What are the technology trends and regulatory frameworks in the Edge AI Software Market?
5. What is the market share of the leading vendors in the Edge AI Software Market?
6. What modes and strategic moves are considered suitable for entering the Edge AI Software Market?

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