Edge AI Software Global Market Report 2024: Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company’s Edge AI Software Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UK, June 24, 2024 /EINPresswire.com/ — The edge AI software market, encompassing applications and algorithms designed for edge devices, is poised for substantial growth in the coming years. Starting from $1.35 billion in 2023, the market is projected to reach $1.76 billion in 2024, marking a notable CAGR of 30.6%. This growth trajectory is attributed to advancements in technology, increased demand for real-time processing, proliferation of IoT devices, and enhancements in edge computing infrastructure.
Factors Driving Market Growth
The exponential growth of the edge AI software market is anticipated to continue, reaching an estimated $4.68 billion by 2028, with a CAGR of 27.6%. This surge is fueled by advancements in edge AI hardware capabilities, integration of 5G networks, expansion in healthcare applications, heightened focus on data security, and growing adoption in autonomous vehicles.
Explore the global edge AI software market with a detailed sample report:
Major Players and Market Trends
Key players such as Alphabet Inc., Google LLC, Microsoft Corporation, and Amazon Web Services are leading the charge in edge AI software development. These companies focus on innovative solutions like comprehensive edge AI suites to enhance AI capabilities at the edge. For example, STMicroelectronics NV launched the ‘ST Edge AI Suite’ in December 2023, which streamlines the deployment of AI-powered devices at scale.
Market Segments
• Component:
• Solution
• Software Tools
• Platform
• Services
• Training and Consulting Services
• System Integration Testing
• Support and Maintenance
• Data Type:
• Video and Image Data
• Audio Data
• Text and Language Data
• Environmental and Location Data
• Biometric Data
• Multi-Modal Data
• Application:
• Access Control
• Autonomous Vehicles
• Energy Management
• Predictive Maintenance
• Remote Monitoring
• Telemetry
• Video Surveillance
• Other Applications
• Vertical:
• Banking, Financial Services, and Insurance
• Government and Public Sector
• Healthcare and Life Sciences
• Telecommunications
• Energy and Utilities
• Manufacturing
• Automotive, Transportation, and Logistics
• Media and Entertainment
• Other Verticals
Regional Insights: North America Leading
North America emerged as the largest region for the edge AI software market in 2023, with significant contributions from Asia-Pacific, Western and Eastern Europe, South America, the Middle East, and Africa.
Access the complete report for an in-depth analysis of the global edge AI software market:
Edge AI Software Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Edge AI Software Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on edge AI software market size, edge AI software market drivers and trends, edge AI software market major players, competitors’ revenues, market positioning, and market growth across geographies. The edge AI software market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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About The Business Research Company
The Business Research Company has published over 27 industries, spanning over 8000+ markets and 60+ geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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The Global Market Model, The Business Research Company’s flagship product, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets that help its users assess supply-demand gaps.
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Oliver Guirdham
The Business Research Company
+44 20 7193 0708
info@tbrc.info
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June 24, 2024, 11:25 GMT
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