The edge AI software market is expected to reach USD  2.35 billion by 2032, growing at a compound annual growth rate (CAGR) of 21.73% from 2023 to 2032. The market is driven by the increasing demand for intelligent solutions, the growing use of AI algorithms to compute data from large sets without depending on the internet, and the automation of cooling and heating systems to provide convenience and comfort to homeowners.

Increasing Demand for Edge AI-Enabled Devices

There is a long list of cutting-edge AI applications. Smartphones and semi-autonomous vehicles or intelligent devices can do facial recognition and provide real-time traffic reports. Other Edge AI-enabled things include video games, smart speakers, robots, drones, security cameras, and wearable health monitoring devices. The detection of security cameras will benefit from edge AI. Traditional surveillance cameras record images for hours before storing and retrieving them as needed. However, with Edge AI, the algorithmic procedures will be performed in real-time within the system itself, allowing the cameras to detect and evaluate suspicious activity in real-time, resulting in more efficient and cost-effective services. Edge AI will increase autonomous vehicles' ability to interpret data and visuals in real-time to identify traffic signs, people, other cars, and roads, hence improving transportation security. Edge AI will save expenses and improve safety in industrial IoT (IIoT). Machine Learning will recompile data from the entire process in real-time, while AI will monitor machinery for potential errors or faults in the production chain. In terms of applicability, edge AI technology has no bounds. Following the Covid-19 incident, firms' innovation has led them to create Artificial Intelligence-based solutions that provide precise information in real-time.

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Market Segmentation

The global edge AI software industry has been segmented based on components, data sources, and vertical.

By component, the global edge AI software market has been segmented into solution and service. The solutions segment is further split into software tools and platforms. The service segment has been further segmented into training & consultation services, system integration & testing services, and support & maintenance services.

By data sources, the global edge AI software market has been segmented into video and image recognition, speech recognition, biometric data, sensor data, and mobile data.

By application, the global edge AI software market has been segmented into autonomous vehicles, access management, video surveillance, remote monitoring & predictive maintenance, telemetry, energy management, and others.

By vertical, the global edge AI software market has been segmented into government & public, manufacturing, automotive, energy & utilities, telecom, healthcare, and others.

The market is segmented by data source, component, application, vertical, and region. By data source, the market is segmented into video and image recognition, speech recognition, biometric data, sensor data, and mobile data. By component, the market is segmented into solution and services. By application, the market is segmented into autonomous vehicle, access management, video surveillance, remote monitoring & predictive maintenance, telemetry, energy management, and others. By vertical, the market is segmented into automotive, healthcare, manufacturing, retail, and others.

North America is expected to be the largest market for edge AI software, followed by Europe and Asia Pacific. The growth of the market in North America is attributed to the increasing adoption of edge AI in the automotive and healthcare industries. The growth of the market in Europe is attributed to the increasing adoption of edge AI in the manufacturing and retail industries. The growth of the market in Asia Pacific is attributed to the increasing adoption of edge AI in the automotive, healthcare, and manufacturing industries.

The key players in the edge AI software market are Foghorn Systems, Azion Technologies, IBM Corporation, ADAPDIX, Synaptics, ALEF EDGE, ClearBlade, Intel Corporation, Microsoft Corporation, TACT.Ai Technologies, Gorilla Technology Group, HPE, TIBCO Software, Oracle Corporation, Amazon Web Services, SIXSQ, Nutanix Inc., and Octonion SA.

The edge AI software market is a rapidly growing market, and is expected to continue to grow in the coming years. The growth of the market is driven by the increasing demand for intelligent solutions, the growing use of AI algorithms to compute data from large sets without depending on the internet, and the automation of cooling and heating systems to provide convenience and comfort to homeowners.