Exploring the Surge in the Edge AI Software Market Worldwide
With the rising adoption of the Internet of Things (IoT) devices and the growing need for real-time data processing and analysis, edge AI software is becoming increasingly popular.
The Worldwide Edge AI Software Market: Growth, Trends, and Forecasts (2024-2030) is a report produced by The Research Insights. The Global Edge AI Software Market was valued at USD 579.74 million in 2021 and it is expected to reach USD 1.95 billion by 2024, at a CAGR of 28.8% for the forecast period of 2024 to 2030.
Edge AI, also referred to as edge computing, is a technique that allows data processing and analysis to take place at or near the source of the data rather than transmitting it to a centralized cloud server. Faster response times, less network traffic, and increased security are all benefits of edge AI.
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One of the key factors driving the edge AI software market is the growing demand for intelligent solutions across various industries such as healthcare, manufacturing, and transportation. Edge AI is being used to enhance efficiency, reduce costs, and improve decision-making in these sectors. Furthermore, the increasing deployment of 5G networks and the growing adoption of connected devices are expected to further drive the growth of the market.
The report also provides an overview of the major players in the edge AI software market, including Microsoft Corporation, IBM Corporation, Google LLC, Intel Corporation, and NVIDIA Corporation. These companies are investing in research and development to improve their edge AI offerings and meet the increasing demand from customers. With the rapid advancements in technology and the growing adoption of edge AI, the market is expected to witness significant growth in the coming years.
Recent Developments
NTT DATA Inc., a consulting and information technology service corporation, launched Edge AI in July 2024. The solution offers a comprehensive managed service platform that accelerates Information Technology (IT)/Operational Technology (OT) convergence by shifting AI processing to the edge. The Edge AI platform by NTT DATA includes everything required for the deployment of Edge AI: systems, tools, and the capabilities needed. It can process, including data identification, collection, integration, computing capacity, seamless connectivity, and management of AI models.
STMicroelectronics, a semiconductor manufacturer, launched ST Edge AI Suite in June 2024, combining tools, software, and experience to make it easier and faster to develop edge-AI apps. A complete set of software tools known as the ST Edge AI Suite will help you more quickly create and deploy embedded AI applications. The ST Edge AI Suite will assist users of all types in streamlining the complete development process, from data collection to the actual deployment of machine learning algorithms on devices.
Intel Corporation launched a new Edge Platform in February 2024, which is a scalable, open-source software platform that enables companies to create, deploy, manage, protect, and run their edge and AI apps with the same ease of cloud technology.
Asia Pacific Edge AI Software Market Trends
Asia Pacific is expected to see significant growth in the Edge AI Software Market during the forecast period. This is because countries in the region are focusing more and more on smart city projects. For example, India, China, and Singapore are all investing in smart infrastructure projects that use edge AI to process data from a variety of sources in real-time. These projects include traffic systems, energy grids, and surveillance networks. By using edge AI, cities may increase operational efficiency, improve public safety, and decrease environmental effects. The advantages of these projects will ultimately help to build more sustainable and efficient urban environments.
In summary, the edge AI software market is projected to witness significant growth in the coming years due to the increasing demand for intelligent solutions and the rapid advancements in technology. The market is expected to benefit from the growing adoption of edge computing across various industries. As edge AI has the potential to disrupt various industries, it will be interesting to see how the market develops in the future.
Latest Press Release at https://www.prnewswire.com/news-releases/edge-ai-software--a-8-91b-market-by-2030--how-real-time-intelligence-at-the-edge-is-powering-the-next-tech-revolution-302490782.html
TRI Blog: https://www.theresearchinsights.com/blog/edge-ai-software-market
About the Creator
Silvie Karson
Passionate storyteller exploring the world of trends. With a background in digital marketing, I craft compelling narratives that inform and inspire. Whether diving into deep-dive features, growth analysis, or trend analysis.
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