The global edge AI software market size was valued at USD 1.56 billion in 2023 and is expected to grow at a CAGR of 28.8% from 2024 to 2030. 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. Furthermore, 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.

Edge AI systems are designed to be energy-efficient, which is essential for various battery-powered devices such as drones, sensors, and wearables. This enables the scalable deployment of Edge AI solutions across various sectors. Moreover, by performing AI processing at the edge, companies can significantly reduce the costs associated with data transmission to the cloud. This also decreases latency, making Edge AI suitable for applications requiring quick response times, such as robotics and smart manufacturing. Furthermore, the rise of autonomous vehicles, drones, and robots requires real-time AI processing at the edge for various tasks such as object recognition, navigation, and decision-making without relying on cloud-based systems.

Gather more insights about the market drivers, restrains and growth of the Edge AI Software Market

Key Edge AI Software Company Insights

Key edge AI software companies include Amazon Web Services, Edge Impulse Inc., and Google. Companies active in the market are focusing aggressively on expanding their customer base and gaining a competitive edge over their rivals. Hence, they pursue various strategic initiatives, including partnerships, mergers & acquisitions, collaborations, and new product/ technology development. For instance, in June 2024, Advantech Co., Ltd., an IoT intelligent systems provider, launched AIR-520 Edge AI server solution for generative AI applications, including Phison's patented aiDAPTIV+ technology. The solution facilitates the fine-tuning of large language models (LLMs) using 1-4 GPU cards and SQ ai100 AI SSDs. It allows businesses to train LLMs in a cost-effective manner while ensuring the security of sensitive data at the edge.

Recent Developments

• In July 2024, NTT DATA Inc., a consulting and information technology service company, launched Edge AI, which delivers a comprehensive managed service platform designed to expedite Information Technology (IT)/Operational Technology (OT) convergence by migrating AI processing to the edge. This platform encompasses everything needed for Edge AI deployment, including systems, tools, and necessary capabilities. It effectively handles data identification, gathering, integration, computing capacity, smooth connectivity, and the management of AI models.

• In June 2024, STMicroelectronics, a semiconductor manufacturer, launched ST Edge AI Suite, integrating tools, software, and expertise to streamline and expedite the development of edge-AI applications. The ST Edge AI Suite stands as a unified set of software tools aimed at simplifying the creation and launch of embedded AI applications. This complete package aids in the entire process, from data collection to the actual implementation of machine learning algorithms on devices, making the development workflow more efficient for various user types.

• In February 2024, Intel Corporation, launched a new Edge Platform, a scalable, open-source software platform that allows companies to easily create, deploy, manage, secure, and operate edge and AI applications with the ease of cloud technology.

Global Edge AI Software Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global edge AI software market report based on the offering, data type, vertical, and region:

Offering Outlook (Revenue, USD Million, 2017 - 2030)

• Solutions

• Services

Data Type Outlook (Revenue, USD Million, 2017 - 2030)

• Audio Data

• Mobile Data

• Sensor Data

• Biometric Data

• Speech Recognition

• Video and Image Recognition

• Others

Vertical Outlook (Revenue, USD Million, 2017 - 2030)

• BFSI

• Government & Public Sector

• Healthcare & Life Sciences

• IT & Telecommunications

• Energy & Utilities

• Manufacturing

• Automotive

• Others

Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America

o U.S.

o Canada

o Mexico

• Europe

o UK

o Germany

o France

• Asia Pacific

o China

o India

o Japan

o Australia

o South Korea

• Latin America

o Brazil

• MEA

o UAE

o South Africa

o KSA

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