Global Edge AI Software Market to Grow at an impressive CAGR through 2024
Increasing implementation of
edge AI software in various end user industries such as retail, BFSI,
transportation, IT & Telecom, etc., to drive global edge AI software market
through 2024
According
to TechSci Research report, “Global Edge AI Software Market By Component, By Data Source, By Application, By
End User, By Region, Competition, Forecast & Opportunities, 2024”, global edge AI software market is expected to witness positive
growth during forecast period on account of increasing adoption of cloud in
enterprises and increasing number of intelligent apps. Moreover, surging demand
for quick response time and minimum latency is further bolstering the growth of
global edge AI software market. Additionally, the advent of 5G so as to bring
IT and telecom together along with increasing adoption of software in
autonomous vehicle is anticipated to positively influence growth of the market
through 2024.
Global
edge AI software market can be segmented based on component, data source, application,
end user and region. Based on solution, the market can be segmented into
software and platform, of which platform segment is anticipated to grow at a high
rate as it allows users to extract actionable insights in real-time from data generated
at the edge and enhance customer experience. Based on the application, the
market can be segmented into access management, video surveillance, remote
monitoring and predictive maintenance and others. High requirement to monitor,
track and diagnose machines is anticipated to fuel demand for remote monitoring
and predictive maintenance segment through 2024.
Microsoft Corp., IBM Corporation, Amazon
Web Services, Nutanix, TIBCO Software Inc., Octonion, Swim.AI, Imagimob, Anagog,
Veea, are among the leading players operating in global edge AI software market.
Companies operating in the market are using organic strategies such as product
launches, mergers and collaborations in order to register positive growth in
the market. In 2018, Nutanix launched, Xi Cloud services, to offer a unified
fabric across different cloud environments. In the same year, Microsoft Corp.
collaborated with Qualcomm Technologies in order to develop AI developer kit
that combines edge, IoT and AI.
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“North America accounts for a significant share in global edge AI
software market owing to increasing spending by the government of the economies
in data management strategies and presence of leading players in the region.
However, Asia-Pacific is anticipated to grow at the highest rate due to rising
number of start-ups in this domain and growth of AI technology among various
end-use verticals.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Global Edge
AI Software Market By Component, By Data Source, By Application, By End
User, By Region, By Company, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global edge
AI software market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in global edge AI software market.
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