DUBLIN--(BUSINESS WIRE)--The "Edge AI Software Market by Component (Solutions, Services), Data Source, Application (Autonomous Vehicles, Access Management, Video Surveillance, Remote Monitoring, Predictive Maintenance, Telemetry), Vertical, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global edge AI software market is forecast to grow from USD 356 million in 2018 to USD 1,152 million by 2023, at a CAGR of 26.5% during 2018-2023.
The major factors driving the growth of the edge AI software market are the increasing enterprise workloads on the cloud and rapid growth in the number of intelligent applications. Furthermore, the emergence of the 5G network to bring IT and telecom together and growing demand for applications with minimized latency and quick response time is expected to be providing opportunities for the growth of organizations from various industry verticals in the edge AI software market.
Moreover, Edge AI software solutions enable organizations to store and access data which needs a real-time response and is required for a limited time on the edge nodes and devices. Organizations can choose between the data that could be discarded after a limited time and the data which is to be stored for further use, reducing data loads on the cloud infrastructure.
Edge AI would also decrease the frequency of contact with cloud servers, hence would enhance the speed of decision-making. Interoperability issues of edge AI software and existing systems in an organization, and optimization of edge AI standards are some factors which are acting as challenges for edge AI software market and slowing the adoption of Edge AI software solutions.
Some of the major players in the Edge AI software market include Alphabet Inc. (Google), Microsoft Corporation (Microsoft), IBM Corporation (IBM), Amazon Web Services, Inc. (AWS), Nutanix, SWIM.AI Inc. (SWIM.AI.), Imagimob AB (Imagimob), Anagog Ltd. (Anagog), TIBCO Software Inc. (TIBCO), Octonion SA. (Octonion), FogHorn Systems (Foghorn), XNOR.AI, Bragi, Invision AI Inc. (Invision AI), Veea Inc. (Veea), and Tact.ai Technologies, Inc. (Tact.ai). Acquisitions, partnerships, and new product developments are some of the key strategies implemented by the major vendors in the edge AI software market.
This report would help the market leaders & new entrants in the global edge AI software market in the following ways:
- The report segments the market into various sub-segments, hence it covers the market comprehensively. It provides the closest approximations of the revenue numbers for the overall market and its sub-segments. The market numbers are further split across applications and regions.
- It helps in understanding the overall growth of the market. It also provides information about key market drivers, restraints, challenges, and opportunities.
- It helps stakeholders in understanding their competitors better and gaining more insights to strengthen their positions in the market. The study also presents the positioning of the key players based on their product offerings and business strategies.
- Increasing Enterprise Workloads on the Cloud
- Rapid Growth in the Number of Intelligent Applications
- Privacy & Security Concerns Related to Edge AI Solutions
- Emergence of the 5G Network to Bring IT & Telecom Together
- Interoperability Issues Slowing the Adoption of Edge AI Software
- Optimization of Edge AI Standards
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview and Industry Trends
6 Edge AI Software Market, By Component
7 Edge AI Software Market, By Data Source
8 Edge AI Software Market, By Application
9 Edge AI Software Market, By Vertical
10 Edge AI Software Market, By Region
11 Competitive Landscape
12 Company Profiles
- Foghorn Systems
- Invision AI
For more information about this report visit https://www.researchandmarkets.com/r/pyw9bv