Dublin, Feb. 23, 2021 (GLOBE NEWSWIRE) -- The "Edge AI Software Market by Component (Solutions and Services), Data Source, Application (Autonomous Vehicles, Access Management, Video Surveillance, Remote Monitoring and Predictive Maintenance, and Telemetry), Vertical, and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global edge AI software market size to grow from USD 590 million in 2020 to USD 1,835 million by 2026, at a Compound Annual Growth Rate (CAGR) of 20.8% during the forecast period.
Various factors such as increasing enterprise workloads on the cloud and rapid growth in the number of intelligent applications are expected to drive the adoption of the edge AI solutions and services. The objective of the report is to define, describe, and forecast the edge AI software market size based on component, type, GNSS receiver, application, vertical, and region.
As the world braces for the continued impact of the COVID-19 pandemic, every industry has been affected. To mitigate pandemic risks, organizations around the world are taking adequate measures such as remote working capabilities, remote asset maintenance and monitoring, plant automation, and telehealth. A high positive impact has been witnessed in the healthcare vertical, as firms have started realizing the potential of edge AI software in combating the impact of COVID-19. This has led to increased funding and research to keep businesses safe and secure across the value chain. It is expected that the market will witness slow growth during the pandemic and bounce back with a higher adoption rate across verticals post-pandemic. Organizations worldwide have been using digital infrastructure to continue with their usual business activities as it serves as an essential infrastructure. Healthcare, the public sector, and education verticals are adopting digitalization at an unprecedented rate. Several clouds and edge companies are offering their computational services for free to the frontline workers to reduce the impact of COVID-19.
The system integration and testing services segment to grow at a higher CAGR during the forecast period
The training and consulting services segment is expected to account for the largest market size, while the system integration and testing services segment is projected to have the highest CAGR during the forecast period. The technicalities involved in implementing edge AI software solutions boost the growth of training and consulting services while the need to ensure the interoperability of edge AI software with hardware components from different vendors would boost the growth of system integration and testing services.
The video and image recognition segment to have the largest market size during the forecast period
The edge AI software market by data source has been segmented into video and image recognition, speech recognition, biometric data, sensor data, and mobile data. Video and image content analysis has introduced the automation of tasks due to advancements made in deep learning. They help to automatically recognize temporal and spatial events in videos and images. A person who moves suspiciously, traffic signs that are not obeyed, the sudden appearance of flames, and smoke are few events detected through video and image content analysis.
Energy management application segment to have the highest CAGR during the forecast period
The edge AI software market by application has been segmented into autonomous vehicles, access management, video surveillance, remote monitoring and predictive maintenance, telemetry, energy management, and others (point of sales, field service support, precision agriculture, AR/VR, and smart wearables). Using edge AI for energy management can reduce the overall costs and optimize energy consumption by applying various techniques for predicting the optimal load of the system in real-time leading to its growth in edgeAI software market.
Among regions, North America accounts for the largest market size during the forecast period
The organizations in North America, especially the US, have leveraged the benefits of AI, ML, and deep learning technologies to stay ahead in the market. The region has well-established economies, which enable edge AI software vendors to invest in new technologies. Furthermore, it is regarded as the center of innovation where major IT players are rolling out intelligent devices and collaborating with other companies in the edge AI software market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Brief Overview of the Edge AI Software Market
4.2 Market, by Application
4.3 Market, by Region
4.4 Market, by Application and Vertical
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Enterprise Workloads on the Cloud
5.2.1.2 Rapid Growth in the Number of Intelligent Applications
5.2.2 Restraints
5.2.2.1 Privacy and Security Concerns Related to Edge Ai Solutions
5.2.3 Opportunities
5.2.3.1 Emergence of the 5G Network to Bring IT and Telecom Together
5.2.4 Challenges
5.2.4.1 Interoperability Issues Slowing the Adoption of Edge Ai Software
5.2.4.2 Optimization of Edge Ai Standards
6. Industry Trends
6.1 Evolution
6.2 Ecosystem
6.3 Edge AI Software Market: COVID-19 Impact
6.4 Case Study Analysis
6.4.1 Use Case 1: Creating Motion Intelligence with Imagimob's Sensorbeat AI Software
6.4.2 Use Case 2: Using Imagimob's Sensorbeat AI Software for Predictive Maintenance in Manufacturing
6.4.3 Use Case 3: Using Anagog Jedai 4.0 to Personalize Banking Experience
6.4.4 Use Case 4: Using High-Performance Embedded Computing (HPEC) Systems of Eurotech for Autonomous Driving
6.4.5 Use Case 5: Using Edge AI Starter Kit of Bytelake for the Detection of Groceries in Retail
6.4.6 Use Case 6: Using Edge AI Starter Kit of Bytelake for Traffic Analytics Using Video Surveillance
6.5 Value Chain Analysis
6.6 Supply Chain Analysis
6.7 Technology Analysis
6.7.1 Edge AI and Internet of Things (IoT)
6.7.2 Edge AI and 5G
6.7.3 Edge AI and Blockchain
6.8 Porter's Five Forces Analysis
6.8.1 Threat of New Entrants
6.8.2 Threat of Substitutes
6.8.3 Bargaining Power of Suppliers
6.8.4 Bargaining Power of Buyers
6.8.5 Intensity of Competitive Rivalry
6.9 Pricing Analysis
6.10 Patent Analysis
6.10.1 Innovation and Patent Registrations
6.11 Regulatory Implications
6.11.1 Introduction
6.11.2 General Data Protection Regulation
6.11.3 Health Insurance Portability and Accountability Act
6.11.4 Federal Trade Commission
6.11.5 Federal Communications Commission
6.11.6 Iso/Iec Jtc 1/Sc 42
7 Edge AI Software Market, by Component
7.1 Introduction
7.1.1 Component: Market Drivers
7.1.2 Component: COVID-19 Impact
7.2 Solutions
7.2.1 Software Tools
7.2.2 Platform
7.3 Services
7.3.1 Training and Consulting Services
7.3.2 System Integration and Testing
7.3.3 Support and Maintenance
8 Edge AI Software Market, by Data Source
8.1 Introduction
8.1.1 Data Source: Market Drivers
8.1.2 Data Source: COVID-19 Impact
8.2 Video and Image Recognition
8.3 Speech Recognition
8.4 Biometric Data
8.5 Sensor Data
8.6 Mobile Data
9 Edge AI Software Market, by Application
9.1 Introduction
9.1.1 Applications: Market Drivers
9.1.2 Applications: COVID-19 Impact
9.2 Autonomous Vehicles
9.3 Access Management
9.4 Video Surveillance
9.5 Remote Monitoring and Predictive Maintenance
9.6 Telemetry
9.7 Energy Management
9.8 Others
10 Edge AI Software Market, by Vertical
10.1 Introduction
10.1.1 Vertical: Market Drivers
10.1.2 Vertical: COVID-19 Impact
10.2 Edge AI Software: Enterprise Use Cases
10.3 Government and Public
10.4 Manufacturing
10.5 Automotive
10.6 Energy and Utilities
10.7 Telecom
10.8 Healthcare
10.9 Others
11 Edge AI Software Market, by Region
11.1 Introduction
11.2 North America
11.3 Europe
11.4 Asia-Pacific
11.5 Middle East and Africa
11.6 Latin America
12 Competitive Landscape
12.1 Overview
12.2 Market Evaluation Framework
12.3 Market Share, 2020
12.4 Historic Revenue Analysis of Key Market Players
12.4.1 Introduction
12.5 Key Market Developments
12.5.1 New Product Launches and Product Enhancements
12.5.2 Business Expansions
12.5.3 Mergers and Acquisitions
12.5.4 Partnerships, Agreements, Contracts, and Collaborations
12.6 Company Evaluation Matrix
12.6.1 Overview
12.6.2 Company Evaluation Matrix: Definitions and Methodology
12.6.3 Market Ranking Analysis, by Company
12.6.4 Star
12.6.5 Emerging Leader
12.6.6 Pervasive
12.6.7 Participant
12.7 Startup/SME Evaluation Matrix, 2020
12.7.1 Progressive Companies
12.7.2 Responsive Companies
12.7.3 Dynamic Companies
12.7.4 Starting Blocks
13 Company Profiles
13.1 Introduction
13.2 Microsoft
13.3 IBM
13.4 Google
13.5 Aws
13.6 Nutanix
13.7 Synaptics
13.8 Tibco Software
13.9 Octonion
13.10 Imagimob
13.11 Anagog
13.12 Veea
13.13 Foghorn Systems
13.14 Bragi
13.15 Gorilla Technology Group
13.16 Tact.AI
13.17 Sixsq
13.18 Azion Technologies
13.19 Clearblade
13.20 Alefedge
13.21 Adapdix
13.22 Startup/SME Profiles
13.22.1 Bytelake
13.22.2 Reality AI
13.22.3 Deci.AI
13.22.4 Stratahive
13.22.5 Edgeworx
13.22.6 Swim.AI
13.22.7 Invision.AI
13.22.8 Horizon Robotics
13.22.9 Kneron
13.22.10 Deepbrainz
14 Appendix
14.1 Adjacent and Related Markets
14.1.1 Introduction
14.1.2 Edge Computing Market - Global Forecast to 2025
14.1.2.1 Market Definition
14.1.2.2 Market Overview
14.1.2.2.1 Edge Computing Market, by Component
14.1.2.2.2 Edge Computing Market, by Application
14.1.2.2.3 Edge Computing Market, by Organization Size
14.1.2.2.4 Edge Computing Market, by Vertical
14.1.2.2.5 Edge Computing Market, by Region
14.2 Discussion Guide
For more information about this report visit https://www.researchandmarkets.com/r/uf62w7