Edge AI Software Market Size, Share, Development and Forecast Report, 2030 | Top Key Players are Microsoft Corporation, IBM Corporation, NVIDIA Corporation, Advantech Co. Ltd., Amazon Web Services Inc., Edge Impulse Inc.

According to the latest market research study published by P&S Intelligence, the Edge AI software market is poised for substantial growth, with projections indicating a surge from $1,459.0 million in 2024 to $8,218.0 million by 2030, reflecting a robust CAGR of 33.4%. This remarkable expansion is primarily driven by the proliferation of 5G networks, the escalating adoption of Internet of Things (IoT) devices, and an increasing demand for real-time data processing capabilities.

The integration of Artificial Intelligence (AI) at the edge-closer to data sources-enhances operational efficiency by enabling immediate data analysis and decision-making. This shift is particularly significant in sectors such as autonomous vehicles, industrial automation, and smart cities, where real-time processing is crucial. Moreover, the symbiotic relationship between edge AI and cloud computing facilitates improved performance and reduced latency, further propelling market growth.

Browse a detailed report analysis on: https://www.psmarketresearch.com/market-analysis/edge-ai-software-market-forecast

Key Insights

Component Segmentation

The solutions segment is anticipated to dominate the market, contributing 60% of the revenue in 2024. This includes AI algorithms, edge computing platforms, software development kits (SDKs), and application-specific software solutions. The services segment, encompassing consulting, deployment, integration, support, and maintenance, is expected to witness a CAGR of 35% from 2024 to 2030, driven by the increasing complexity of edge AI implementations and the need for ongoing support.

Deployment Mode

Cloud-based deployment is projected to hold the largest market share, accounting for 70% in 2024, with a CAGR of 36% during the forecast period. The scalability, flexibility, and seamless integration offered by cloud services make them a preferred choice for managing extensive data generated at the edge.

Data Type Analysis

Video and image data are expected to constitute the largest market share, 40% in 2024, growing at a CAGR of 30% through 2030. The rising demand for real-time visual analytics in sectors like security, automotive, and retail underscores the significance of this data type.

End-User Verticals:

• Manufacturing: Anticipated to be the fastest-growing segment, driven by the adoption of Industry 4.0 technologies for applications such as predictive maintenance, quality control, and process optimization.

• Healthcare: Expected to witness a CAGR of 30% from 2024 to 2030, propelled by the increasing use of AI in medical imaging and diagnostics to enhance precision and efficiency.

• BFSI (Banking, Financial Services, and Insurance): Projected to be the largest end-user category, leveraging edge AI for fraud detection, customer service automation, and risk management.

Regional Trends

North America is expected to maintain the largest market share, 40% in 2024, attributed to the presence of leading-edge AI software vendors and early technology adoption across key industries. The Asia-Pacific region is projected to be the fastest-growing market, driven by economic developments and substantial investments in IoT and cloud technologies, particularly in China and India.

Download free report sample at: https://www.psmarketresearch.com/market-analysis/edge-ai-software-market-forecast/report-sample

Technological Advancements

The widespread adoption of 5G networks is a pivotal trend, enhancing connection speeds and bandwidth. 5G's capability to support approximately 1 million connected devices per square kilometer facilitates the deployment of more IoT sensors and devices, thereby expanding AI use cases that require real-time processing of large data volumes.

Competitive Landscape

The market is characterized by fragmentation, with numerous players offering diverse solutions. Key strategies among leading companies include mergers and acquisitions, partnerships, product launches, and geographical expansion to strengthen market positions and cater to the evolving demands of various industries.

In conclusion, the Edge AI software market is on a trajectory of rapid growth, driven by technological advancements and the escalating need for efficient, real-time data processing across various sectors. Stakeholders are increasingly investing in innovative solutions to harness the full potential of edge AI, aiming to enhance operational efficiency and deliver superior services.

Browse More Reports Published by P&S:

Webgame Market Report - https://www.psmarketresearch.com/market-analysis/webgame-market-insights

Music Composing Software Market Report - https://www.psmarketresearch.com/market-analysis/music-composing-software-market

About P&S Intelligence

P&S Intelligence offers custom and syndicated market research and consulting services to clients across the globe. Our team of young and dynamic researchers, guided by mentors with years of experience, create data-rich reports tailored to the needs of MNCs as well as startups and SMEs. We remain in a perennial quest to offer exhaustive insights into every aspect of the market, allowing businesses of all sizes to seize even the smallest of opportunities and tackle even the biggest of challenges.

Contact:
Chandra Mohan
AVP - Business Development
Phone: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
Blog: https://psintelligence.blogspot.com

This release was published on openPR.