Global Edge AI Software Market, By Component, By Data Source, By Application (Access Management, Video Surveillance and Others), By End User, By Region, Competition, Forecast & Opportunities, 2024

The Global Edge Artificial Intelligence (AI) Software Market is expected to grow at a CAGR of over 25% during 2019 – 2024 on account of significant increase in the number of intelligent applications. Edge artificial intelligence software allows processing, aggregation, computation and analysis of data present in the edge devices by leveraging IoT and artificial intelligence technologies. Integration of artificial intelligence in edge devices helps to minimize latency, lessen threats and improve reliability which is promoting the growth of the market. Moreover, increasing workload of enterprises on cloud is further likely to elevate the demand for the Global Edge Artificial Intelligence (AI) Software Market through 2024.

The Global Edge Artificial Intelligence (AI) Software Market can be segmented based on the component, data source, application, end-user and region. Based on component, the market can be bifurcated into solutions and services. Edge AI software solutions integrate machine learning and edge computing technology so as to derive crucial insights without costly analysis, thereby boosting the growth of solutions segment through 2024. On the basis of data source, the Global Edge AI Software Market can be segmented into video & image recognition, speech recognition, biometric data, mobile data and sensor data. Video & image recognition led the market in 2018 and the trend is expected to continue during forecast period as edge AI software is used to analyze images and videos, locally on the devices. Edge artificial intelligence software caters to various end-user segments such as government, manufacturing, IT & telecom, automotive, energy & utilities and others. Manufacturing and Energy & Utilities verticals acquired the largest shares in 2018 as the vertical includes technology driven operations, which depend on real-time insights.

Regionally, global edge AI software is gaining traction and expanding to various regions across the globe. North America is leading the Global Edge AI Software Market and is likely to maintain its position during forecast period as well on account of high investments by public and private sectors in artificial intelligence and machine learning technologies in the economies of the region.

Major players operating in the Global Edge AI Software Market include Google LLC, Amazon Web Services Inc., Microsoft Corp., Nutanix Inc., TIBCO Software Inc., IBM Corporation, Octonion SA, Anagog, Veea, among others. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments.

Years considered for this report:

• Historical Years: 2014-2017
• Base Year: 2018
• Estimated Year: 2019
• Forecast Period: 2020–2024

Objective of the Study:

• To analyze and forecast the market size of the Global Edge AI Software Market.
• To classify and forecast the Global Edge AI Software Market based on component, data source, application, end-user, and regional distribution.
• To identify drivers and challenges for the Global Edge AI Software Market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Global Edge AI Software Market.
• To identify and analyze the profile of leading players operating in the Global Edge AI Software Market.

Both primary as well as exhaustive secondary research were performed for this study. Initially, Researchers sourced a list of service providers across the globe. Subsequently, They conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, they could include the service providers which could not be identified due to the limitations of secondary research. The author analyzed the service offerings and presence of all major service providers across the globe.

The author calculated the market size of the Global Edge AI Software Market by using a bottom-up approach and top-down approach, wherein data for various end-user segments was recorded and forecast for the future years. Researchers sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied.

Key Target Audience:

• Edge AI Software service providers
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to Edge AI Software
• Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on the market opportunities.

Report Scope:
In this report, the Global Edge AI Software Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Market, By Component:

• Solutions
• Software
• Platform
• Services
• Training & Consulting
• Integration
• Support & maintenance

Market, By Data Source:

• Video & Image Recognition
• Speech Recognition
• Biometric data
• Mobile data & Sensor data

Market, By Application:

• Access Management
• Video Surveillance
• Remote Monitoring & Predictive Maintenance
• Others

Market, By End User:

• Energy & Utilities
• Automotive
• Government
• Manufacturing
• IT & Telecom
• Others

Market, By Region:

• North America
• United States
• Mexico
• Canada
• Europe
• United Kingdom
• Germany
• France
• Spain
• Italy
• Asia Pacific
• China
• Japan
• South Korea
• Singapore
• Malaysia
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• UAE
• Saudi Arabia
• Qatar
• South Africa

Competitive Landscape

• Company Profiles: Detailed analysis of the major companies present in the Global Edge AI Software Market.

Available Customizations:
With the given market data, the author offers customizations according to a client's specific needs.