DUBLIN--(BUSINESS WIRE)--The "COVID-19 Impact on Edge AI Software Market by Application (Autonomous Vehicles, Access Management, Video Surveillance, Remote Monitoring & Predictive Maintenance, Telemetry and Energy Management), Data Source, Vertical and Region - Global Forecast to 2021" report has been added to ResearchAndMarkets.com's offering.
Given the scale of the pandemic, technology will play a crucial role in addressing every facet of COVID-19.
The impact of COVID-19 on enterprises is transforming their business models. Every business is affected due to novel coronavirus. Organizations are struggling to revamp their supply chains to make the working environment safe. 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 tele-health. The healthcare vertical is expected to have a high positive impact, as firms are realizing the potential of edge AI software in combating the impact of the virus. This has led to increased funding and research to keep businesses safe and secure across the value chain. Industrial and telecom sectors are currently assessing the situation, as countries are beginning to come out of lockdown slowly. The market is expected to show slow growth during the pandemic and bounce back with a higher adoption rate across verticals.
Digital infrastructure is now being termed as an essential infrastructure. Organizations around the globe are making the use of digital infrastructure to continue with their usual business activities. Healthcare, 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.
Remote monitoring and predictive maintenance segment to show high growth rate during the forecast period
The remote monitoring and predictive maintenance segment are estimated to grow at a high CAGR in the edge AI market during the forecast period. Remote monitoring and predictive maintenance utilize IoT to track, monitor, and diagnose machines and processes. Most of the large enterprises deploy edge AI software solutions to generate efficiencies and improve performance with access to vital data in real-time. Remote monitoring aims at providing in-depth views of analytics and enabling users to react to real-time events with some level of automation.
Video and image recognition segment captured the highest market share in 2020
The video and image recognition segment held the largest market share in the edge AI market. Video and image recognition plays a crucial role in curbing the pandemic effects. Researchers are making use of AI tools, such as ML, NLP, and computer vision to teach computers to use big data-based models for pattern recognition, explanation, and prediction. These functions will be useful for tracing, diagnosing, predicting, and possibly treating COVID-19 patients and help in managing socio-economic impacts.
The healthcare segment to record higher investment and growth in 2019
The healthcare systems need scalable and secured infrastructure to manage and maintain patient information with high speed and flexibility. During the COVID-19 pandemic, there is a high need for technologies such as edge AI for the analysis of patients' data. As the number of electronic health records is increasing, healthcare providers are expanding the use of scalable and highly secure storage AI solutions to cater to a large number of cases.
North America to record the highest market share in the impact of COVID-19 on edge AI market in 2019
North America held the largest market share in the impact of COVID-19 on edge AI software across the major verticals. COVID-19 has severely affected the North American region due to various factors, such as a high number of immigrants travelling in the region, no initial stage lockdown in the country, and presence of a large number of virus carriers in the country at once, spreading the disease at a rapid pace.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Impact on Ecosystem and Extended Ecosystem
4.1 By Stakeholder
4.2 COVID-19 Pandemic-Driven Market Dynamics and Factor Analysis
4.2.1 Drivers and Opportunities
4.2.2 Restraints and Challenges
4.2.3 Cumulative Growth Analysis
5 Business Implications of COVID-19 on the Edge AI Software Market
5.2 Implications on Application Segments (Pessimistic, Realistic, and Optimistic Scenarios)
5.3 Implications on Data Source Segments (Pessimistic, Pre-COVID-19, And Optimistic Scenarios)
6 COVID-19 Impact on Major Verticals With Use Cases and How Clients are Responding to the Current Situation
6.1 Government and Public
6.3 Transportation and Logistics
6.4 Energy and Utilities
7 COVID-19 Impact on Regions
7.2 North America
7.4 Asia Pacific
7.5 Middle East and Africa
7.6 Latin America
8 COVID-19-Focused Profiles of Key Vendors
8.2 Company Profiles
- Foghorn Systems
- Invision AI
- SWIM AI
- Tact AI
For more information about this report visit https://www.researchandmarkets.com/r/bb35ph