The global edge AI software market size is anticipated to reach USD 9.0 billion by 2030, registering a CAGR of 28.8% over the period, according to a new report by Grand View Research, Inc. Numerous factors, such as the proliferation of Internet of Things (IoT) devices, increasing demand for real-time decision-making, advancements in AI and ML, and 5G network expansion, are primarily contributing to the growth of the market. Edge AI systems are designed to be energy-efficient, which is essential for various battery-powered devices such as drones, sensors, and wearables. Moreover, by performing AI processing at the edge, companies can significantly reduce the costs associated with data transmission to the cloud. Processing data locally on edge devices helps organizations comply with stringent data privacy regulations and avoid the security risks associated with transmitting sensitive data to centralized cloud servers. This is particularly essential in the healthcare, finance, and government sectors. Thus, there is high growth in the edge artificial intelligence (AI) software market.Get deeper insights, latest developments & key market drivers in the Global Edge AI Software Market
By Data Type
Growing concerns about security and surveillance drive the need for real-time video and image analysis for applications such as facial recognition, anomaly detection, and threat assessment. Furthermore, the proliferation of smart cameras, smartphones, and other IoT devices equipped with image and video sensors fuels the demand for Edge AI solutions that can process and analyze visual data locally. The rising use of voice-activated assistants and smart speakers in consumer electronics drives demand for Edge AI solutions that process audio data locally for real-time voice recognition and command execution. urthermore, Edge AI enables low-latency processing of audio data, which is crucial for applications such as real-time transcription, voice-controlled applications, and interactive voice response systems.
By Vertical
Numerous factors, such as the expansion of 5G networks, the increasing need for real-time data processing, and enhanced network security, drive the demand for the Edge AI software market in the IT and telecommunications segment. Moreover, the rise of telemedicine and remote healthcare services drives demand for edge AI solutions that can process and analyze data locally, ensuring high-quality video consultations and accurate remote diagnostics. Edge AI solutions also help maintain patient data privacy and comply with regulatory requirements by processing sensitive health information locally, reducing the risk of data breaches.
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Key questions answered in this report
• How big is the market?
• What is the market growth?
• Which segment accounted for the largest market share?
• Who are the key players in the market?
• What are the factors driving the market?