New York, United States, September 29, 2021 (GLOBE NEWSWIRE) – Market Snapshot:
According to a comprehensive research report from Market Research Future (MRFR), “AI Edge Software Market information by data source, component, vertical and region – forecast to 2027“The size of the market is expected to grow at a compound annual growth rate of 21.3%.
The global advanced AI software market is fragmented and also competitive for the presence of various international and domestic key players. These players have integrated innovative strategies to stay at the forefront and also meet growing customer demand, including collaborations, contracts, partnerships, joint ventures, geographic expansions and new product launches, etc.
The Major Key Players in Edge AI Software Market Covered Are:
- Microsoft Corporation (United States)
- IBM Corporation (United States)
- Amazon Web Services (US)
- Nutanix Inc. (United States)
- Synaptic (United States)
- TIBCO Software (United States)
- Octonion SA (Switzerland)
- Intel Corporation (United States)
- HPE (United States)
- Oracle Corporation (United States)
- Foghorn Systems (US)
- Gorilla Technology Group (Taiwan)
- Azion Technologies (United States)
- ClearBlade (United States)
- TACT.Ai Technologies (United States)
- SIXSQ (Geneva)
- ADAPDIX (United States)
- ALEF EDGE (United States)
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Growing introduction of 5G network to drive market growth
The increasing introduction of 5G network to the world will drive the market growth during the forecast period. The introduction of the 5G network is likely to bring IT and telecommunications closer together and also create new opportunities for high-end applications to further reduce computational complexity. 5G networks allow the organization of data centers in edge configurations and also the implementation of industry specific platforms in standard ecosystems using the fundamental principles of connectivity defined by software and virtual machine.
Using portable devices to deliver solid opportunities
The use of portable devices, as they need computation on the go and cannot rely on remote cloud services, will provide strong opportunities for the market during the forecast period.
Security concerns to act as market restrictions
Privacy and security issues related to cutting edge AI solutions and optimizing cutting edge AI standards may be market restraints during the forecast period.
Interoperability issues to act as a market challenge
The issues of interoperability of advanced AI software with core systems may pose a challenge for the market during the forecast period.
Browse the in-depth market research report (141 pages) on Edge AI Software Market:
Market segmentation covered by research:
The global artificial intelligence software market has been segmented on the basis of vertical, application, data source and component,
By component, the solutions segment will dominate the market during the forecast period.
By data sources, mobile data segment will dominate the market during the forecast period.
By Application, CCTV segment will be the market spearhead during the forecast period.
By vertical, the healthcare segment will hold the lion’s share of the market during the forecast period.
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North America in Domineer Edge AI Software Market
North America will dominate this market during the forecast period. Organizations in the region, especially in the United States, have reaped the benefits of deep learning technologies, machine learning and artificial intelligence, well-established economies allowing AI software vendors to point of investing in new technologies, the region being the center of innovation where the main IT players deploying smart devices and collaborating with other companies, the region being a region generating significant income, significant improvements In the edge AI software space, many AI service providers in North America are testing the edge AI software market by incorporating AI and ML functionality with their AI solutions advanced technologies, thus further integrating different development methodologies to strengthen their position, add to the growth of the global market for log state-of-the-art AI companies in the region.
APAC to experience admirable growth in Edge AI software market
The APAC region will experience admirable growth during the forecast period for the increasing amount of data generated from edge devices in various verticals and increasing consumer spending on smart solutions in countries such as the India, Australia, Japan and China.
Impact of COVID-19 on the Global Edge AI Software Market
The COVID-19 pandemic has left industries and businesses with little time to prepare or defend against potential damage. The market situation is uncertain and may rise or fall depending on the activities carried out and the results achieved by the company. The crisis has affected several sectors around the world. Most industrial units around the world have had to suspend or close their manufacturing operations because of this. The crisis epidemic has had a huge impact on industries such as food and beverage, manufacturing, automotive and aviation. The rapid spread of the novel coronavirus around the world has had a significant impact on the IT industry. Changing consumer behavior and choices due to the evolving global pandemic scenario has had a noticeable effect on the IT industry. The WHO, for example, declared COVID-19 a global epidemic in March 2020, prompting some governments to declare closures. Due to the slowdown in the manufacturing sector and plant closures, the epidemic has had an effect on the economy. During the crisis, AI discovered several key applications. It can quickly assess unusual symptoms as well as other red flags that alert health officials and patients. It helps in profitable decision making by enabling faster decision making. With relevant algorithms, it helps in the development of a new strategy for diagnosing and managing COVID-19 cases. Through the use of medical imaging technologies such as magnetic resonance imaging (MRI) and computed tomography (CT) of parts of the human body, AI can help diagnose infected cases.
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