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Edge AI Software Market Likely to Enjoy Explosive Growth in Years to Come

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The global edge artificial intelligence (AI) software market revenue stood at $1 billion in 2020, and it is predicted to rise significantly between 2021 and 2030 (forecast period). The market is being driven by the growing adoption of cloud-based applications in several industries, rapid advancements in the internet of things (IoT) technology, mushrooming popularity of the AI software, and improvements and innovations in various smart applications across the world.

Advancements in IoT applications is a major factor driving the expansion of the edge AI software market, as edge computing solves the challenges of adopting IoT. IoT applications manage devices that interact with one another via the internet. AI enables these devices to learn from the information collected. As the IoT allows the sharing of information between various machine parts or production lines over a wireless network, many players operating in the industry are actively focusing on allocating resources for improving the functioning of IoT-based gadgets.

Across the globe, North America held the largest share in the edge AI software market in the years gone by, and it is expected to exhibit huge expansion in the forthcoming years as well. This is attributed to the early adoption of various advanced technologies, such as AI, on account of the growing focus on research and development (R&D) activities in the region. Additionally, the existence of major players, such as Intel Corporation and Microsoft Corporation, is also propelling the growth rate of the market in the region.

Hence, the market will grow substantially in the coming years, mainly because of the rising adoption of cloud-based applications in many industries and growing need for intelligent applications across the world.

Market Segmentation by Data Source

Video and Image Recognition
Speech Recognition
Biometric Data
Sensor Data
Mobile Data
Market Segmentation by Component

Solution
Software tools
Platform
Service
Training and consulting
System integration and testing
Support and maintenance
Market Segmentation by Application

Autonomous Vehicles
Access Management
Video Surveillance
Remote Monitoring and Predictive Maintenance
Telemetry
Energy Management
Others (Point of Sale, Field Service Support, Precision Agriculture, Augmented reality [AR]/ Virtual reality [VR], Smart Wearables)
Market Segmentation by Vertical

Government and Public
Manufacturing
Automotive
Energy and Utility
Telecom
Healthcare
Others (Media and Entertainment, Retail and E-Commerce, Banking, Financial Services, and Insurance [BFSI])
Market Segmentation by Region

North America Edge AI Software Market
By data source
By component
By application
By vertical
By country – U.S. and Canada
Europe Edge AI Software Market
By data source
By component
By application
By vertical
By country – Germany, France, U.K., Italy, Spain, and Rest of Europe
Asia-Pacific (APAC) Edge AI Software Market
By data source
By component
By application
By vertical
By country – Japan, China, India, Australia, South Korea, and Rest of APAC
Latin America (LATAM) Edge AI software Market
By data source
By component
By application
By vertical
By country – Brazil, Mexico, and Rest of LATAM
Middle East and Africa (MEA) Edge AI Software Market
By data source
By component
By application
By vertical
By country – Saudi Arabia, South Africa, and Rest of MEA
Market Segment Analysis of Countries

Further breakdown of 16 listed countries will be provided as per below segmentation:
By data source
By component
By application
By vertical

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