NEW YORK, Sept. 15, 2020 /PRNewswire/ — According to a newly published Research Dive report, the Global Edge Artificial Intelligence (AI) Software Market valued for USD 435.9 million in 2019 and is expected to surpass USD 3,093.2 million by 2027, growing at a CAGR of 28.8% from 2029 to 2027.
Quick Download Sample Report [80 pages] of Edge AI Software Market: https://www.researchdive.com/download-sample/399
Driving Factors of Global Edge Artificial Intelligence (AI) Software Market
The increasing utilization of edge AI software in telecom industry owing to its various advantages such as contextual push intelligence, 360 insight capability, one place availability of productivity tools, and others is a significant factor expected to bolster the growth of the overall edge AI software market during the forecast period. Moreover, edge AI software is used in management of numerous data which in turn allows business to improve bandwidth, speed, decrease latency, improved individual experience, and enhanced data analysis, which is predicted to propel the global market growth in the estimated timeframe. However, lack of skilled employee, privacy concerns, and ethical issue with edge AI software is predicted to hamper the market growth in the coming future.
COVID-19 Impact on the Global Edge Artificial Intelligence (AI) Software Industry
The COVID-19 pandemic has progressively impacted the global edge AI software industry mainly due to increasing adoption of edge AI software by many companies for complete automation in work processes. This is helping the companies in smooth running of operations during the work from home culture in the pandemic crisis. – Download COVID-19 Impact on Edge AI Software Market Report
Key Segment Findings of the Edge Artificial Intelligence (AI) Software Market:
The report segments the global edge AI software market by Component, Data Source, Application, End Use, and Region.
- Among component, the solution segment is estimated to witness a lucrative growth over the forecast period as solution component helps in capturing data and is utilized for designing models.
- Among data source, the video & image recognition segment is projected to hold a significant share in the market owing to its wide usage for identification of suspects in AI accelerated systems.
- Among application, the autonomous vehicles segment is expected to account for majority of share in the market due to increasing production of autonomous vehicle coupled with rising adoption of edge AI software to improve transportation systems and reduce road accidents.
- Among end-use, the automotive segment is anticipated to have highest market share by the end of 2027 owing to wide utilization of edge AI software in automotive sector for manufacturing of autonomous vehicles, production of automotive parts, and to develop sustainable transportation.
- Geographically, the North America region is predicted to dominate the global edge AI software market in the forecast period due to the adoption of several advanced technology and the presence of large number of companies in the region.
Top 10 Major Players Operating in the Global Edge AI Software Market:
- Foghorn Systems, Inc.
- Microsoft Corporation
- In Vision AI
- Amazon Web Services (AWS)
- Anagog Ltd
- TIBCO Software Inc.
- Veea Inc.
- Imagimob AB
- Tact.ai Technologies Inc.
The report sketches various aspects of all these market players such as product portfolio, SWOT analysis, financial performance, and recent strategic moves & developments. – Quick Download Top Companies Development Strategies Summary Report [75 pages]
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About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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