The Europe Edge AI Software Market would witness market growth of 27.0% CAGR during the forecast period (2022-2028).
The majority of the time, machine learning, deep learning, and natural language processing (NLP) are combined with edge computing (ML). While artificial intelligence (AI) or machine learning aids in decision-making by analyzing the data, edge AI imitates the behavior of the machine operator. AI-enabled edge computing solutions can process semi-structured and unstructured data.
Since Edge AI integrates all of the systems, machines, and resources involved in the process, real-time data is always accessible from anywhere at any time. The machine operator can quickly communicate instructions to the machines or another machine operator because the entire system is integrated. The exponential increase of intelligent apps, enterprise workloads on the cloud, and data volume and network traffic are some of the reasons propelling the rise of the edge AI software market.
Millions of mobile and Internet of Things (IoT) devices are being connected to the internet due to the rapid expansion of mobile computing and IoT applications, producing enormous volumes of data at the network edge. Massive amounts of data are gathered, which results in exceptionally high latency and network bandwidth utilization in cloud data centers. To fully unlock the potential of big data, it is imperative to push artificial intelligence (AI) boundaries to the network edge.
The manufacturing of automobiles is one of the most significant industries in every region of Europe. According to the International Trade Administration, one of Italy's most important industries is the automobile industry (ITA). The number of sales in 2019 was close to €106 billion, or almost $119 billion. This accounts for 6.2% of Italy's GDP and 11% of the nation's manufacturing output.
The Germany market dominated the Europe Edge AI Software Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $237.6 million by 2028.The UK market is anticipated to grow at a CAGR of 25.9% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 28% during (2022 - 2028).
Based on Component, the market is segmented into Solution and Services. Based on Data Source, the market is segmented into Video & Image Recognition, Speech Recognition, Mobile Data, Sensor Data and Iris & Facial Data. Based on Deployment Mode, the market is segmented into On-premises and Cloud. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises (SMEs). Based on Vertical, the market is segmented into Telecom, Government & Public Sector, Manufacturing, Energy & Utilities, Travel & Hospitality, Media & Entertainment, Healthcare & Life Sciences and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Edge AI Software Market will Hit $3.8 Billion by 2028, at a CAGR of 27.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Microsoft Corporation, IBM Corporation, Google LLC, Amazon Web Services, Inc. (Amazon.com, Inc.), Nutanix, Inc., Tibco Software, Inc. (Vista Equity Partners), Synaptics, Inc., FogHorn Systems (Johnson Controls), Azion Technologies, Inc., and Alef Edge, Inc.
By Component
By Data Source
By Deployment Mode
By Organization Size
By Vertical
By Country
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