New York, USA, May 02, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Edge AI Software Market Analysis By Data Source (Video and Image Recognition, Speech Recognition, Biometric Data, Sensor Data, and Mobile Data), By Component (Solution and Services), By Application (Autonomous Vehicle, Access Management, Video Surveillance, Remote Monitoring & Predictive Maintenance, Telemetry, Energy Management, and Others), And By Region (North America, Europe, Asia-Pacific And Rest Of The World) –Market Forecast Till 2032” valuation is poised to reach USD 2.35 Billion by 2032, registering a 21.73% CAGR throughout the forecast period (2023-2032).
Key Players
Players leading the global edge AI software market include
- IBM Corporation (US)
- Microsoft Corporation (US)
- Amazon Web Services (US)
- Synaptics (US)
- Nutanix Inc. (US)
- TIBCO Software (US)
- Intel Corporation (US)
- Octonion SA (Switzerland)
- HPE (US)
- Foghorn Systems (US)
- Oracle Corporation (US)
- Gorilla Technology Group (Taiwan)
- ClearBlade (US)
- Azion Technologies (US)
- TACT.Ai Technologies (US)
- ADAPDIX (US)
- SIXSQ (Geneva)
- ALEF EDGE (US)
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Edge AI Software Market Report Scope:
| Report Metric | Details |
| Edge AI Software Market Size | USD 2.35 Billion |
| CAGR | 21.73% |
| Base Year | 2022 |
| Forecast Period | 2023-2032 |
| Historical Data | 2019- 2021 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Data Source, Component, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Microsoft Corporation (US), IBM Corporation (US), Amazon Web Services (US), Nutanix Inc. (US), Synaptics (US), TIBCO Software (US), Octonion SA (Switzerland), Intel Corporation (US), HPE (US), Oracle Corporation (US), Foghorn Systems (US), Gorilla TechnologyGroup (Taiwan), Azion Technologies (US), ClearBlade (US), TACT.Ai Technologies (US), SIXSQ (Geneva), and ADAPDIX (US) |
| Key Market Opportunities | The emergence of the 5G network will unify the IT and telecom industries |
| Key Market Drivers | Growing need for smart devices with AI at the network's edge |
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Edge AI platform enhances safety, offering proactive monitoring for equipment failure and enabling automation of drilling equipment & processes. These solutions can build an efficient infrastructure for automation, digitalization, and standardization projects across various facilities. Futuristic-edge AI capabilities empower businesses to grow exponentially with the help of connected technologies & smart devices.
Edge AI solutions allow faster computing & insights, better data security, and efficient control over continuous operation, enhancing the performance of AI-enabled applications and keeping operating costs down. Edge AI can also assist in overcoming technological challenges associated with AI. Edge computing is witnessing a significant interest with the introduction of 5G.
However, the Edge AI software industry needs simulation solutions to enable a comprehensive, competent analysis to quickly optimize the power and performance of chip designs and speed the data movement that is critical to developing AI applications.
Industry Trends
The global edge AI software market has witnessed outstanding growth over the past few years. Augmenting the uptake of edge AI in growing numbers of businesses augments the market demand. With rising developments around edge AI impacting modern digital enterprises, the market is estimated to garner significant traction in the next few years.
The demand for edge AI platforms is growing mainly due to massive amounts of data processing and storage needs that require significant architectural improvements on the chip side. Modern chip designs require complex testing & validation, pressurizing semiconductor manufacturers to meet changing system requirements in a sensitive, cost- and time-effective manner.
On the other hand, safety and security concerns and the reluctance of the market players to invest inhibit the market growth. Edge AI facilitates machine learning (ML), autonomous application of deep learning (DL) models, and advanced algorithms on the Internet of Things (IoT) devices, which would support the market growth throughout the assessment period.
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Segments
The market is segmented into components, data sources, verticals, and regions. The component segment is sub-segmented into solutions and services. The sub-segment solution is further bifurcated into software tools and platforms. At the same time, the sub-segment service is further segmented into system integration & testing services, training & consultation services, support & maintenance services, and others.
The data source segment is sub-segmented into video & image recognition, biometric data, speech recognition, sensor data, and mobile data. The application segment is sub-segmented into autonomous vehicles, video surveillance, access management, remote monitoring & predictive maintenance, energy management, telemetry, and others.
The vertical segment is sub-segmented into government & public, energy & utilities, manufacturing, automotive, telecom, healthcare, and others. The region segment is sub-segmented into Europe, North America, Asia Pacific, the Middle East & Africa, and others.
Geographical Analysis
North America leads the global edge AI software market. The largest market share is attributed to vast technological advances and well-established infrastructures in the region. Augmenting uptake backed by the government's programs encouraging advancements in IoT & cloud technologies is another growth driver.
Besides, increasing deployments of edge AI software technologies with advanced analytics providing comprehensive support and specialty in real-time data access substantiate the market size. Rising demand for edge AI solutions among enterprises to take faster business decisions and comprehend business scenarios quickly offer vast market opportunities.
Competitive Analysis
The edge AI software market appears to be competitive & fragmented due to many matured & small key players accounting for a substantial market share. Leading edge AI software providers deploy their edge-powered computer vision solutions for industrial and commercial IoT solutions used in energy and chemical companies.
These players gain a larger competitive advantage through acquisition, strategic partnership, expansion, product/technology launch &collaboration. Heavy investments are transpired in R&D to develop a completely different technology than their competition.
For instance, on Apr.13, 2023, Axelera AI, a leading provider of powerful and advanced solutions for Edge AI, announced that it is using Ansys simulation software to give up the right digital power integrity to its high-performance Metis AI Processing Unit (AIPU). Ansys' products, licensing, and support services give Axelera AI the flexibility required to address future development initiatives.
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Axelera AI introduced the software into a two-step, top-down flow to validate its floorplan quality and IR drop of platform chips to overcome limited resources and manufacturing timing challenges. Axelera AI's recently released Metis AI platform, a hardware and software platform, is designed for computer vision AI inference at the edge.
This platform delivers advanced acceleration performance and usability at significantly lower costs and power consumption than the solutions available today. Ansys' comprehensive power analytics can reduce project risks, improve predictive accuracies, and accelerate time to market for Axelera AI's new Metis AI Platform.
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