As edge artificial intelligence (AI) is a combination of AI and edge computing, the burgeoning demand for intelligent applications, primarily on account of the rapid advancements in AI, will fuel the adoption of edge AI software in the coming years. Such intelligent applications need high computing power for constant collection and processing of information for providing significant and effective outcomes.
Thus, the surging requirement for the efficiency of ongoing data processing will boost the adoption of edge AI software in the forthcoming years. Moreover, advancements in internet of things (IoT) applications will propel the edge AI software market growth during the forecast period (2021–2030), as edge computing addresses the challenges related to IoT.
According to P&S Intelligence, the market generated a revenue of $600 million in 2020. IoT applications deal with connecting devices and AI enables such devices to learn from the collected data. Further, IoT technology empowers the transmission of information between multiple stages of the production line or several parts of a machine over a wireless network.
Additionally, the rising workload of enterprises on the cloud will also propel the need for edge AI software in the foreseeable future. Business organizations around the world are rapidly shifting to cloud computing, owing to which the AI technology is gaining prominence.
AI applications deployed on cloud platforms have latency issues and offer slow responses. To overcome these challenges, enterprises are shifting toward edge AI software as it places the computer resources at the edge of the network, which helps in allowing applications to function with high bandwidth and low latency.
This market research report provides a comprehensive overview of the market- Future potential of the market through its forecast for the period 2020– 2030
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
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