Edge AI Software Market Expected to Achieve 26.3% CAGR by 2029: Growth Forecast Insights

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How Large Will the Edge AI Software Market Size By 2025?
The market size for edge AI software has seen a dramatic increase over the past few years. It is predicted to expand from a worth of $1.76 billion in 2024, spiking to $2.3 billion in 2025, with a compound annual growth rate (CAGR) of 30.5%. Several factors have spurred this growth during the recent period, including technological evolution, surge in demand for instantaneous processing, proliferation of internet of things (IoT) devices, an uptick in the complexity of data at the edge, and enhancements in the infrastructure of edge computing.

How Big Is the Edge AI Software Market Size Expected to Grow by 2029?
The market size of edge AI software is predicted to experience significant growth in the impending years, expected to reach $5.87 billion in 2029, with a compound annual growth rate (CAGR) of 26.3%. The projected expansion during this period is linked to the improvements in edge AI hardware abilities, the integration of 5G networks, the implementation of edge AI in healthcare applications, the growing focus on privacy and data security, and the increasing use of edge AI in self-driving cars. Key trends expected during this period include mergers and acquisitions, the utilization of Edge AI in industrial automation, Edge AI for video analytics and surveillance, the incorporation of Edge AI in smart cities, Edge AI to provide personalized user experiences, and the use of Edge AI in edge-to-cloud synergy applications.

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Which Key Market Drivers Powering Edge AI Software Market Expansion and Growth?
The upward trend in the use of 5G network technology is predicted to fuel the expansion of the edge AI software market. Identified as the fifth generation of mobile network technology, 5G stands as a considerable progress from prior versions including 2G, 3G, and 4G/LTE. The appeal for 5G technology is steadily increasing due to its superior speed, reduced latency, and its capacity to accommodate more connected devices, which boosts development in sectors such as IoT, healthcare, and self-driving vehicles. In edge AI software, 5G network technology is employed to facilitate rapid data transfer and minimize delay, an essential aspect for instantaneous AI processing at the edge. For example, 5G Americas, an industry trade group based in the US, reported in April 2023 that from the end of 2021 to the end of 2022, there was a surge of 76% in global 5G wireless connections, hitting a total of 1.05 billion connections. As a result, the rise in the usage of 5G network technology is propelling the edge AI software market's expansion.

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Which Fast-Growing Trends Are Poised to Disrupt the Edge AI Software Market?
Major firms in the edge AI software market are striving to create unique products, such as the edge AI suite. This term normally refers to an extensive collection of software utilities, frameworks, and services that together facilitate the deployment of artificial intelligence (AI) functionality at the edge of a network. For example, in December 2023, STMicroelectronics NV, a semiconductor manufacturing corporation from Switzerland, unveiled the 'ST Edge AI Suite'. This suite, compatible with the company's hardware and equipped with software tools, expedites the launch and deployment of numerous autonomous devices replete with local artificial intelligence, thereby enabling smooth design and large-scale deployment of such solutions. It is set to amalgamate a variety of software tools, assessments, and development kits launched in the past decade, all by leveraging the existing AI ecosystem within machine learning (ML).

What Are the Emerging Segments in the Edge AI Software Market?
The edge AI software market covered in this report is segmented -

1) By Component: Solution, Software Tools, Platform, Services, Training And Consulting Services, System Integration Testing, Support And Maintenance
2) By Data Type: Video And Image Data, Audio Data, Text And Language Data, Environmental And Location Data, Biometric Data, Multi-Modal Data
3) By Application: Access Control, Autonomous Vehicles, Energy Management, Predictive Maintenance, Remote Monitoring, Telemetry, Video Surveillance, Other Applications
4) By Vertical: Banking, Financial Services, And Insurance, Government And Public Sector, Healthcare And Life Sciences, Telecommunications, Energy And Utilities, Manufacturing, Automotive, Transportations, And Logistics, Media And Entertainment, Other Verticals

Subsegments:
1) By Solution: Application-Specific Solutions, Industry-Specific Solutions
2) By Software Tools: Development Tools, Analytics Tools, Monitoring Tools
3) By Platform: Edge Computing Platforms, AI Frameworks, IoT Platforms
4) By Services: Consulting Services, Managed Services
5) By Training And Consulting Services: Training Programs, Strategy Consulting
6) By System Integration Testing: Functional Testing, Performance Testing, Security Testing
7) By Support And Maintenance: Technical Support, Software Updates, System Maintenance Services

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Who Are the Global Leaders in the Edge AI Software Market?
Major companies operating in the edge ai software market report are Alphabet Inc., Google LLC, Microsoft Corporation, Amazon Web Services, Intel Corporation, International Business Machines Corporation, NVIDIA Corporation, Baidu Inc., Renesas Electronics Corporation, Synaptics Incorporated, Nutanix Inc., TIBCO Software Inc., Cloudera Inc., DataRobot Inc., Bragi GmbH, Gorilla Technology Group, Tact.ai Technologies Inc., FogHorn Systems Inc., ClearBlade Inc., Octonion SA, Anagog Ltd., Imagimob AB, Azion Technologies, Avassa, Adapdix, SWIM.AI Inc., Veea Inc., XNOR.AI Inc.

Which are the Top Profitable Regional Markets for the Edge AI Software Industry?
North America was the largest region in the edge AI software market in 2024. The regions covered in the edge ai software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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