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Edge AI Software Market Research Report Information By Data Source (Video and Image Recognition, Speech Recognition, Biometric Data, Sensor Data, and Mobile Data), By Component (Solution and Services), By Application (Autonomous Vehicle, Access Management, Video Surveillance, Remote Monitoring & Predictive Maintenance, Telemetry, Energy Management, and Others), And By Region (North America, Europe, Asia-Pacific And Rest Of The World) –Market Forecast Till 2032

ID: MRFR/ICT/9116-CR | 141 Pages | Author: Aarti Dhapte| April 2023

Edge AI Software Market Overview

Edge AI Software Market Size was valued at USD 0.4 billion in 2022. The Edge AI Software market industry is projected to grow from USD 0.48 Billion in 2023 to USD 2.35 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 21.73% during the forecast period (2023 - 2032). Rising interest in AI-enabled edge devices and rapid 5G network connectivity are the key market drivers enhancing market growth.

Edge AI Software Market.

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Edge AI Software Market Trends

  • Growing of cloud computing in business driving the market growth

Market CAGR for cloud computing technology is driven by the Increasing adoption of cloud computing is driving daily data transfers to the cloud, which is likely to boost cloud workloads. Edge nodes and devices allow businesses to store and retrieve data that requires a real-time reaction and is only needed temporarily. It is made possible by edge AI software solutions. Artificial intelligence is growing as it finds increasing use in various contexts. These apps require a lot of computing power to do their jobs effectively and usefully, especially when dealing with duties like real-time data processing and data capture.

Additionally, artificial intelligence (AI) technologies normally serviced by a software as a service (SaaS) offering can now function offline or in conditions with low latency or bandwidth requirements thanks to edge computing. Edge AI enables businesses to deploy their machine learning models locally on edge devices, mitigating performance and latency concerns. Real-time input from AI systems can significantly improve essential software. Industrial-scale use cases, such as manufacturing and supply chain, stand to gain the greatest immediate benefits from edge AI. Due to the high cost of implementing edge AI systems, most business executives must see a substantial return on investment before making the plunge.

The efficiency of autonomous vehicles depends on their constant data transmission to the cloud. It is made possible by sophisticated AI and ML technologies that enable these autonomous driving Systems to make decisions. When self-driving cars link up with the network's periphery, they can increase productivity, lower accident rates, boost safety, and ease congestion.

For instance, ADLINK Technology Inc. collaborated with the Industrial Technology Research Institute and Tier IV to bring autonomous vehicles to the masses. The collaboration's primary goal was to advance traffic management systems and intelligent transportation using Autoware's open-source autonomous driving software. As a result, it is anticipated that throughout the projection period, demand for Edge AI Software will increase due to the rising technology rate. Thus, the driving factor of the Edge AI Software market revenue.

Edge AI Software Market Segment Insights

Edge AI Software Data Source Insights

The Edge AI Software Market segmentation, based on data source includes video and image recognition, speech recognition, biometric data, sensor data and mobile data. The sensor data and mobile data industry is expected to grow the fastest. New capabilities for smartphones, tablets, and wearable devices are emerging as computing spreads into every aspect of society. The computing demands of mobile applications are rapidly increasing to meet the growing popularity of computationally intensive mobile uses, such as virtual reality and real-time online gaming.

Edge AI Software Component Insights

The Edge AI Software Market segmentation, based on components, includes solutions and services. The solutions industry is expected to grow fastest and capture the market's largest share. Software solutions on the cutting edge of artificial intelligence enable firms to automate routine administrative tasks and increase output while decreasing costs. Services provided by Edge AI include training and consultancy, system integration and testing, support and maintenance, and standalone solution provisioning.

Figure 1: Edge AI Software Market, by Component, 2022 & 2032 (USD billion)

Edge AI Software Market, by Component

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Edge AI Software Application Insights

The Edge AI Software Market segmentation, based on application, includes autonomous vehicles, access management, video surveillance, telemetry, energy management, and others. The market for autonomous vehicles is expected to increase at a CAGR of 21.73% from 2022-2032, from $138.8 million. A rise in autonomous vehicle production with the aim of reducing traffic accidents and enhancing transportation systems is a key factor propelling the use of edge AI software in this context.

Edge AI Software Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Edge AI Software market will dominate this market, owing to increased interest and a rising number of edge AI software services initiatives in both countries. In addition, governments across North America are actively working to integrate software-based AI solutions across a wide range of sectors, including public utilities, financial institutions, transportation hubs, and airports.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.



Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe’s Edge AI Software market accounts for the second-largest market share due to increasing demand in the industrial, automotive, energy, and utility sectors for artificial intelligence in this area. Further, the German Edge AI Software market held the largest market share, and the UK Edge AI Software market was the fastest growing market in the European region

The Asia-Pacific Edge AI Software Market is expected to grow at the fastest CAGR from 2023 to 2032. The regional market expansion is anticipated to be fueled by the increased investments made by governments and increasing their global footprint by providing cutting-edge technological services to emerging markets. Moreover, China’s Edge AI Software market held the largest market share, and the Indian Edge AI Software market was the fastest growing market in the Asia-Pacific region.

For instance, Blaize and NEXTY Electronics Corp., a subsidiary of the Toyota Tsusho Group, have formalized NEXTY's status as a Blaize distribution partner to reach the Japanese industrial and automotive industries for edge and AI applications.

Edge AI Software Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the Edge AI Software market grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Edge AI Software industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Edge AI Software industry to benefit clients and increase the market sector. In recent years, the Edge AI Software industry has offered some of the most significant technological development. Major players in the Edge AI Software market, including Microsoft Corporation (US), IBM Corporation (US), Amazon Web Services (US), Nutanix Inc. (US), Synaptics (US), TIBCO Software (US), Octonion SA (Switzerland), Intel Corporation (US), HPE (US), Oracle Corporation (US), Foghorn Systems (US), Gorilla TechnologyGroup (Taiwan), Azion Technologies (US), ClearBlade (US), TACT.Ai Technologies (US), SIXSQ (Geneva), ADAPDIX (US), and others  are attempting to increase market demand by investing in research and development operations.

International Business Machines Corporation (IBM) is a Fortune 500 company with operations in more than 175 countries worldwide and is headquartered in Armonk, New York. Hosting and consulting services are also offered in addition to the company's primary focus on computer hardware, middleware, and software for everything from mainframes to nanotechnology. IBM is a company that offers various IT products and services. The firm develops and distributes its hardware and software, providing related services, including hosting and consulting. In March 2023, IBM announced that BESTSELLER India, a subsidiary of BESTSELLER based in India, will be working with IBM Consulting to implement critical transformation initiatives to help create an intelligent and autonomous fashion landscape quickly accelerate business growth.

Adapdix provides Autonomous Systems that quicken the process of going digital. Adapdix technology has been demonstrated to provide AI-enabled performance improvements with market-leading speed and value, as seen by the company's expanding portfolio of Fortune 500 customers. Adapdix is a startup that has called the San Francisco Bay Area home since its inception in 2015. In June 2022, Adapdix acquired Edge Intelligence, the first globally distributed data management platform for analytics built for edge computing and hybrid cloud environments, to further solidify its position as the market leader in AI-powered automation software.

Key Companies in the Edge AI Software market include

  • Microsoft Corporation (US)

  • IBM Corporation (US)

  • Synaptics (US)

  • Amazon Web Services (US)

  • Nutanix Inc. (US)

  • TIBCO Software (US)

  • Octonion SA (Switzerland)

  • Intel Corporation (US)

  • HPE (US)

  • Oracle Corporation (US)

  • Foghorn Systems (US)

  • Gorilla Technology Group (Taiwan)

  • Azion Technologies (US)

  • ClearBlade (US)

  • Ai Technologies (US)

  • SIXSQ (Geneva)


Edge AI Software Industry Developments

March 2022 Synaptics, Inc. introduced a prototype artificial intelligence evaluation kit. The package includes wireless and wired connectivity and software and hardware for motion, vision, and sound detection. In addition, it streamlines the creation of such technologies for IoT uses.

July 2022 Nutanix, a pioneer in hybrid multi-cloud computing, has released its streamlined product range worldwide. This move was made to meet better the needs of the company's expanding customer base. The Nutanix Cloud Platform provides a uniform deployment approach for public, private, and hybrid clouds. With this release, the firm has simplified its customers' digital transformations by providing a convenient suite of solutions. 

Edge AI Software Market Segmentation

Edge AI Software Data Source Outlook

  • Video and Image Recognition

  • Speech Recognition

  • Biometric Data

  • Sensor Data

  • Mobile Data

Edge AI Software Component Outlook

  • Solution

  • Services

Edge AI Software Application Outlook

  • Autonomous Vehicles

  • Access Management

  • Video Surveillance

  • Remote Monitoring & Predictive Maintenance

  • Telemetry

  • Energy Management

Edge AI Software Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

Report Attribute/Metric Details
Market Size 2022 USD 0.4 billion
Market Size 2023 USD 0.48 billion
Market Size 2032 USD 2.35  billion
Compound Annual Growth Rate (CAGR) 21.73% (2023-2032)
Base Year 2022
Market Forecast Period 2023-2032
Historical Data 2019- 2021
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Data Source, Component, Application, and Region
Geographies Covered   North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
    Key Companies Profiled     Microsoft Corporation (US), IBM Corporation (US), Amazon Web Services (US), Nutanix Inc. (US), Synaptics (US), TIBCO Software (US), Octonion SA (Switzerland), Intel Corporation (US), HPE (US), Oracle Corporation (US), Foghorn Systems (US), Gorilla TechnologyGroup (Taiwan), Azion Technologies (US), ClearBlade (US), TACT.Ai Technologies (US), SIXSQ (Geneva), and ADAPDIX (US)
   Key Market Opportunities   The emergence of the 5G network will unify the IT and telecom industries
  Key Market Dynamics Growing need for smart devices with AI at the network's edge

Frequently Asked Questions (FAQ) :

The Edge AI Software Market size was valued at USD 0.4 Billion in 2022.

The global market is projected to grow at a CAGR of 21.73% during the forecast period, 2023-2032.

North America had the largest share of the global market.

The key players in the market are VMware, Inc (US), Microsoft (US), IBM Corporation (US), Cisco Systems, Inc. (US), BMC Software, Inc. (US), New Relic, Inc. (US), Splunk Inc. (US), ServiceNow (US), Dynatrace LLC (US), Datadog (US),Oracle (US), Broadcom (US), Amazon Web Services, Inc. (US), and Google (US).

The solution category dominated the market in 2022.

Autonomous vehicles had the largest share of the global market.

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