Edge AI Software Market Size, Share, Outlook, Industry Analysis and Outlook 2022 2027

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The global Edge AI software market is expected to grow from USD 1,300.0 million in 2020 to USD 8,049.8 million by the end of 2027 at a compound annual growth rate (CAGR) of 29.8%.

Astute Analytica has compiled this research report after collecting input from various industry experts. The market has been studied using various research tools focusing on market determinants with other market elements widely studied. Edge AI Software market size and market estimation are some of the key elements considered in the research report. Edge AI Software market analysis consists of a combination of quantitative and qualitative market analysis of the data using various statistical tools.

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Despite the driving factors, security and privacy concerns coupled with vulnerability to cyber attacks are expected to hamper market growth. During the COVID-19 pandemic, the healthcare segment using edge AI software saw positive growth as the software led to increased funding and research to keep businesses safe and secure across the value chain.

Growth influencers:

Advances in AI-enabled IoT (Internet of Things) for intelligent systems and intelligent applications

The artificial intelligence sector is witnessing the emergence of a number of applications in different industries. All of these applications require enormous computing power to perform activities such as collecting and processing data in real time. While functioning with cloud technology, artificial intelligence applications are subject to various latency issues and lead to difficulties in providing quick responses. Edge AI software helps keep resources at the edge of the network. This helps the applications to work with high bandwidth and low latency. Therefore, advances in AI-enabled IoT (Internet of Things) for smart systems and smart applications are expected to boost the market growth.

Segment overview:

The global edge AI software market is segmented into components, data sources, applications and end users.

By component

  • solutions
  • software tools
  • platform
  • Services
  • training and consulting services
  • System integration and testing
  • support and maintenance

Due to the high demand, the largest market share is estimated to be in the Solutions segment at around 80%. The services segment is expected to grow at the fastest CAGR of 30.6% due to the slowly increasing adoption of training and consulting services. The support and maintenance segment has a market size of USD 337.3 million in 2020.

By data source

  • biometric data
  • mobile data
  • sensor data
  • voice recognition
  • Video and image recognition

Due to the high product availability in this segment, sensor data is expected to take the largest market share of around 26%. Biometrics is estimated to be growing the fastest at about 30.4% due to increasing adoption of biometric technology in various industries.

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through application

  • access control
  • Autonomous Vehicles
  • energy management
  • Predictive Maintenance
  • remote monitoring
  • telemetry
  • video surveillance
  • Other

Due to the growing number of edge AI software applications in this industry, the energy management segment is expected to take the dominant market share. The video surveillance segment is estimated to be worth around $500 million by 2025.

By end users

  • Advanced Industries
  • banks and insurance companies
  • chemistry and agriculture
  • consumer
  • cross vertical
  • energy and materials
  • healthcare
  • infrastructure
  • media and entertainment
  • Public Sector and Utilities
  • retail trade
  • Travel, transportation and logistics

The travel, transport and logistics segment accounted for the largest market share at around 21%, which is attributed to the increasing adoption of health IT in the travel, transport and logistics sector. The cross-industry sector is expected to register a growth rate of around 30.3% and the consumer segment is expected to surpass around $262.4 million in market value by 2025.

Regional overview:

On a regional basis, the global edge AI software market is segmented into Europe, North America, Asia Pacific, Middle East & Africa, and South America.

The Asia Pacific region held the largest market share of around 38% due to the increasing adoption of technologically advanced solutions in the market and the growing travel industry in countries like India and Japan. The North American recorded a growth rate of around 30.9% due to the growing healthcare IT industry in the US and Canada.

Competitive landscape:

Major players in the global Edge AI Software Market include Alef Edge, Inc., Anagog Ltd., AWS, Azion Technologies, Bragi.Com, Chaos Prime, Inc., Clearblade, Inc., Foghorn Systems, Inc. , Google, Gorilla Technology Group, Inc., IBM, Imagimob, Microsoft, Nutanix, Octonion, Sixsq Sarl, Synaptics, TACT.AI, TIBCO Software, Veea Inc. and other prominent players.

The big 2 players in the market hold about 25-30% of the market share. These actors are involved in product launches, mergers and acquisitions, and collaborations, among others. For example, in January 2021, TIBCO Software, Inc. acquired Information Builders, adding Information Builders’ data management and analytics capabilities to its connected intelligence platform.

Global Edge AI Software Market Report Provides Insights into:

  • Market Penetration: Provides comprehensive information about the market offered by the leading players
  • Market Development: The report provides detailed information on lucrative emerging markets and analyzes the penetration of mature market segments
  • Market Diversification: Provides detailed information on untapped geographies, current developments and investments
  • Competitive Landscape Assessment: Mergers and acquisitions, certifications, and new product launches in the global Edge AI Software Market have been provided in this research report. Furthermore, the report also emphasizes the SWOT analysis of the leading players.
  • Product Development and Innovation: The report provides intelligent insights into future technologies, R&D activities and breakthrough product developments

Global Edge AI Software Market Report Answers Questions Like:

  • What is the market size and forecast of the global Edge AI Software market?
  • What are the restraining factors and impact of COVID-19 on the global Edge AI Software Market during the assessment period?
  • What are the products/segments/applications/areas of the global Edge AI Software Market to invest in during the assessment period?
  • What is the competitive strategic window for opportunities in the global Edge AI Software market?
  • What are the technology trends and regulatory framework in the global Edge AI Software market?
  • What is the market share of the leading players in the global Edge AI Software market?
  • What modes and strategic moves are considered favorable to enter the global Edge AI Software market?

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