Published Date: 30-Nov-2022
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According to a new report, published by KBV research, The Global Edge AI Software Market size is expected to reach $3.8 billion by 2028, rising at a market growth of 27.8% CAGR during the forecast period.
The Services segment is showcasing a CAGR of 30.9% during (2022 - 2028). The software lifecycle includes a number of services, such as deployment, integration, maintenance, product upgrade, training, and consulting. Direct parent corporations are contacted for professional services. To automate complicated end-to-end business processes that entail decision-making and continual learning, Edge AI combines a number of technologies.
The Video & Image Recognition segment acquired maximum revenue share in the Global Edge AI Software Market by Data Source in 2021 thereby, achieving a market value of $1.5 billion by 2028. It allows real-time processing of data received from various sources, including mobile devices, sensors, biometric devices, and CCTV cameras. Edge computing makes it possible to relocate AI workloads for video recognition and analytics from the cloud to the edge, resulting in faster reaction times and bandwidth savings, among other benefits.
The Cloud segment has shown the growth rate of 30.6% during (2022 - 2028). For many businesses, AI services delivered via the cloud are the perfect solution. To access computation, they don't need to build a huge data center; instead, they can leverage the infrastructure that was already established. In fact, the availability of numerous plug-and-play AI cloud services from cloud providers, as well as access to sufficient, compute capacity and pre-trained models to launch AI applications, is one reason why AI has grown so prevalent.
The Large Enterprises segment is generating highest revenue share the Global Edge AI Software Market by Organization Size in 2021 thereby, achieving a market value of $2.8 billion by 2028. Large businesses have a broad corporate network and numerous sources of income. To efficiently manage their firm, they are eager to invest in the newest technologies. Large companies dominate the Edge AI Software Market because their partner networks are more intricate than those of SMEs.
The Manufacturing segment is experiencing a CAGR of 28.4% during (2022 - 2028). Edge artificial intelligence (AI) enables quick data collecting and analysis from edge-based devices and sensors. This enables manufacturers to create predictive maintenance processes and exercise greater control over vital equipment. As a result, the market for Edge AI Software is becoming more necessary. The segment of transportation and logistics is showing a positive growth rate during the forecasted period.
The North America market dominated the Global Edge AI Software Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1.5 billion by 2028.The Europe market is exhibiting a CAGR of 27% during (2022 - 2028). Additionally, The Asia Pacific market would display a CAGR of 29% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/edge-ai-software-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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 Data Source
By Deployment Mode
By Organization Size
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