Research By Markets adds Market Research Report - Global Edge AI Software Market Growth (Status and Outlook) 2019-2024 – ResearchbyMarkets.com
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Edge AI software enables aggregation, processing, computation, and analysis of data present near or on the edge devices by leveraging AI and IoT technologies. The software helps to process data on edge nodes even in remote and decentralized networks, without cloud connectivity.
Integrating AI with IoT in edge devices helps enterprises to minimize latency, reduce bandwidth, lessen threats, avoid duplication, improve reliability, and maintain compliance. Moreover, edge AI software solutions enable an organization to utilize the computing resources in an optimal manner, minimize the bandwidth required to execute the solution, and lower the latency in particular response time.
The amount of IoT devices deployed worldwide is exploding across all industries and cloud computing is overwhelmed with challenges that prevent IoT from scaling. For this reason, the center of data production and computing is transitioning from the cloud to the edge creating the need of IoT devices with a small but power efficient footprint.
The potential of AI at the edge is vast. A report from Tractica estimates that AI edge device shipments will increase from 161.4 million units in 2018 to 2.6 billion units worldwide annually by 2025. The top AI-enabled edge devices, in terms of unit volumes, will include mobile phones, smart speakers, PCs/tablets, head-mounted displays, automotive sensors, drones, consumer and enterprise robots, and security cameras. There will also be more AI incorporated into wearable health sensors, building or facility sensors, and networks of sensors planted around facilities or entire cities. Artificial intelligence (AI)?a rapidly emerging force, is taking computing at the edge to a whole new level, in which insights and analysis are provided on the spot, in real-time. With the IoT now front and center of business and technology strategies, the ability to analyze data streaming through edge computing devices and systems means a significant improvement in visibility and awareness of events across a network.
According to this study, over the next five years the Edge AI Software market will register a 25.7% CAGR in terms of revenue, the global market size will reach US$ 1087.7 million by 2024, from US$ 346.5 million in 2019. In particular, this report presents the global revenue market share of key companies in Edge AI Software business, shared in Chapter 3.
This report presents a comprehensive overview, market shares and growth opportunities of Edge AI Software market by product type, application, key companies and key regions.
This study considers the Edge AI Software value generated from the sales of the following segments:
Segmentation by product type: breakdown data from 2014 to 2019 in Section 2.3; and forecast to 2024 in section 10.7.
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 10.8.
Remote Monitoring & Predictive Maintenance
This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Middle East & Africa
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
To study and analyze the global Edge AI Software market size by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Edge AI Software market by identifying its various subsegments.
Focuses on the key global Edge AI Software players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Edge AI Software with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the size of Edge AI Software submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
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