Edge AI Software Market

Google (US) and Microsoft (US) are leading players in Edge AI Software Market

MarketsandMarkets expects the global edge Artificial Intelligence (AI) software market to grow from USD 356 million in 2018 to USD 1,152 million by 2023, at a Compound Annual Growth Rate (CAGR) of 26.5% during forecast period. The increasing amount of enterprise workloads on the cloud and the rapid growth in the number of intelligent applications are expected to drive the edge AI software market.

Edge AI software solutions bring computing and decision-making capabilities from the cloud to nearby or on-the-edge devices by leveraging AI and Internet of Things (IoT) technologies, jointly. Edge AI software enables aggregation, processing, computation, and analysis of the data present on or on nearby edge devices. Edge AI software helps process the data on edge nodes, even in remote and decentralized networks, which may lack connectivity with the cloud data center. Making edge devices intelligent helps enterprises minimize their latency, reduce the bandwidth, minimize threats, avoid duplications, improve their reliability, and maintain compliances.

The major vendors of the edge AI software include IBM (US), Google (US), Microsoft (US), AWS (US), Nutanix (US), TIBCO (US), Octonion (Switzerland), SWIM.AI (US), Imagimob (Sweden), Anagog (Israel), Foghorn Systems (US), XNOR.AI (US), Bragi (Germany), Invision.AI (Canada), Tact.ai (US), and Veea Systems (England). These players have adopted various growth strategies, such as partnerships, agreements, and collaborations; and new product launches, to further expand their presence in the global edge AI software market. The key players have adopted partnerships and new product launches strategies majorly from 2016 to 2018, which has helped them innovate their offerings and broaden their customer base.

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Google is one of the key technology players in the edge AI software market. It relies heavily on its organic growth strategy and continuously aims for coming up with innovative next-gen products. Google is making significant R&D investments in the area of strategic focus, such as advertising, cloud, Machine Learning (ML), and search, as well as, in new products and services. Google has made significant investments and advancements in AI as well. The company is well-positioned to take advantage of the increasing demand for AI-enabled applications, AI tools for developers, and cloud-based AI services. Moreover, the company is adopting organic growth strategies to gain a competitive advantage in the edge AI software market. For instance, in July 2018, Google launched Edge TPU, a custom hardware stack and Cloud IoT Edge Software at the Nextcloud conference. Both the products implement ML and IoT-based technologies in the cloud and at the edge and leverage data directly at the edge.

Microsoft spent significantly on R&D to enhance its edge AI software and service offerings. The company is working on the development of AI, ML, and IoT technologies. The company has made significant progress with AI initiatives and is well-positioned to take advantage of increasing demand for AI tools, AI-enabled applications, and AI-based solutions. Recent advancements in risk management and compliance would enable users to harness the power of these technologies. Microsoft is focusing on organic growth strategies, such as new product launches and product updates to strengthen its edge AI software offerings. Moreover, the company has various plans to invest in latest technologies to develop innovations. For instance, in June 2018, Microsoft planned to invest USD 5 billion in IoT and intelligent edge solutions over the next 4 years to accelerate innovation and simplify the customer experience in its IoT-based solutions. Furthermore, the global presence of the company reflects its higher sales volume and a vast reach.

Related Reports:

Edge AI Software Market by Component (Solutions and Services), Data Source, Application (Autonomous Vehicles, Access Management, Video Surveillance, Remote Monitoring & Predictive Maintenance, Telemetry), Vertical, and Region - Global Forecast to 2023

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Report Code
TC 6908
Published ON
Feb, 2019
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