The Edge AI Software market size is worth USD 590 million in 2022 and is expected to reach USD 1,839 million by 2030, growing with a CAGR of 21.3% during the forecast period 2023 to 2030.
Edge AI is the process where AI algorithms like data from signals or sensors are processed on hardware and the software used for the purpose is known as edge AI software. Edge AI software is used for producing wearables that augment the battery life of wearable devices. Edge AI software enables real-time operations like data creation and decision actions. Moreover, the edge AI software is deployed in telecom and enterprise segments supporting multi-cloud and allows to run edge AI Analytical software helping to gain total action in less time. Edge AI holds a crucial job in autonomous vehicles.
COVID-19 Impact on the Global Edge AI Software Market:
The sudden eruption of the novel coronavirus has affected the Edge Ai software market positively. Organizations across the globe are taking satisfactory measures like plant automation, telehealth, remote working capabilities, and remote asset maintenance and monitoring to soothe the risks associated with the pandemic. The healthcare vertical has experienced a positive influence as the enterprises or large organizations have started fulfilling the possibility of edge AI software fighting the COVID-19.
MARKET DRIVERS:
The 5G network appearance in combining IT and telecom and is expected to provide a wide range of opportunities in the Edge Ai software market further. Elaborating local enterprises, governments across the globe are focusing on improving artificial technologies are scheduled to grow at the highest rate and drive the Edge Ai software market growth over the period. Growth in internet perforation, increasing use of connected devices, and accumulating enterprise workloads on the cloud advance the edge ai software market growth globally. Moreover, the brisk increase in the number of intelligent applications fuels the market growth further.
MARKET RESTRAINTS:
The absence of trained professionals, due to lack of skill and training programs, the knowledge of developed technologies like AI, and robotics are limited in professionals hindering the Edge AI Software market.
EDGE AI SOFTWARE MARKET REPORT COVERAGE:
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REPORT METRIC |
DETAILS |
|
Market Size Available |
2022 - 2030 |
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Base Year |
2022 |
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Forecast Period |
2023 - 2030 |
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CAGR |
21.3% |
|
Segments Covered |
By Component, Data Source, Application, Vertical, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regional Scope |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Key Companies Profiled |
Alphabet Inc. (US), Microsoft Corporation (US), IBM Corporation (US), Amazon Web Services, Inc. (US), Nutanix (US), Synaptics Incorporated (US), SWIM.AI Inc. (US), Imagimob AB (Sweden), Anagog Ltd. (Israel), TIBCO Software Inc. (US), Octonion SA. (Switzerland), FogHorn Systems (US) Bragi (Germany), Gorilla Technology Group (Taiwan)., SixSq Sàrl (Switzerland)., Azion Technologies LLC (US), ClearBlade Inc. (US), Alef Edge Inc. (US), Adapdix (US), byteLAKE (Poland), Reality Analytics Inc. (US), Deci (Israel), StrataHive (India), edgeworx (US), Invision AI Inc. (Canada), Veea Inc. (US), Tact.ai Technologies, Inc. (US), Horizon Robotics (China), Kneron Inc. (US), DeepBrainz AI (India) |
Segmentation Analysis
The global Edge Ai software market has been segmented and sub-segmented based on the component, data source, application, and vertical.
Solution
Software Tools
Platform
Services
Training and Consulting
System Integration and Testing
Support and Maintenance
By component, the solution segment is said to dominate the Edge Ai software market throughout the timeframe period.
Video and Image Recognition
Speech Recognition
Biometric Data
Sensor Data
Mobile Data
By data source, the video and image recognition gained the largest share in 2020 and is expected to drive more in the coming years. The need for edge AI software for video surveillance applications is increasing due to its design to reduce the risks associated and fully use crime prevention. The factors help in accelerating the Edge AI software market.
The mobile data segment is foreseen to record steady growth in terms of revenue during the forecast period. The number of mobile users is surging leads in the generation of the gigantic volume of data. Edge AI allows for the processing of data generated at the edge and low data required to be sent to the cloud. The factors achieve traction and lead to the growth in adoption of edge AI software and services.
Autonomous Vehicles
Access Management
Video Surveillance
Remote Monitoring And Predictive Maintenance
Telemetry
Energy Management
Others (Point of Sales, Field Service Support, Precision Agriculture, AR/VR, And Smart Wearables)
During the forecast period, the video surveillance segment accounts for the largest share in the Edge AI software market and continues to retain its dominant position. The growth in surveillance and monitoring while diminishing the raw data quantity sent to the cloud leads to widespread adoption. The autonomous vehicles segment is awaited to have sizeable advances across the period. The market growth is attributed to increasing interest and investments in autonomous vehicles by automakers. The surging advancements of autonomous vehicles involving level 3 and 4 variants have stimulated the growing opportunities for edge ai software market adoption. The energy management segment is proposed to record considerable growth in terms of revenue all over the timeline period. Energy management in the Edge AI software market can curb the whole price and optimize energy consumption by applying various procedures for identifying the optimum load of the device in real-time. The elements that drive the adoption of the market drive the revenue growth of the energy management segment.
Government and Public
Manufacturing
Automotive
Energy and Utilities
Telecom
Healthcare
Others (Media and Entertainment, Retail and eCommerce, and Banking, Financial Services and Insurance [BFSI]).
By Vertical, the healthcare segment exhibits lion's share in the Edge Ai software market throughout the timeframe period. Among the healthcare applications, remote surgeries, and diagnostics and patient vital signs, and monitoring the data are some of the examples. Medical professionals make use of the remote platform and manage surgical tools from a safe and comfortable distance. The government and the public segment is growing with the highest CAGR rate over the predicted period.
Regional Analysis:
North America is the largest region having the highest share in the edge ai software market registering considerable growth throughout the timeline period. The region's growth owes to rising concentration on technical research and development resulting in the initial adoption of novel technologies inclusive of Artificial Intelligence (AI) surge the edge ai software market globally.
Europe has ranked as the second-largest region in the edge ai software market during the forecast period. France, UK, Germany, and Italy are contributing majority of the share.
However, the market for the edge ai software market in Asia-Pacific is having a speedy growth ascribed to diverse reasons like the enlargement of local enterprises and government measures that are focusing on advancements in AI technology. The important countries in APAC are technology-driven and provide huge investments and revenue opportunities to fuel the edge ai software market growth during the timeline period.
Latin America and the Middle East and African regions are slated to have constant and consequential growth for edge ai software market growth during the timeframe period.
Edge Ai Software Market - By Company
Alphabet Inc. (US)
Microsoft Corporation (US)
IBM Corporation (US)
Amazon Web Services, Inc. (US)
Nutanix (US)
Synaptics Incorporated (US)
SWIM.AI Inc. (US)
Imagimob AB (Sweden)
Anagog Ltd. (Israel)
TIBCO Software Inc. (US)
Octonion SA. (Switzerland)
FogHorn Systems (US)
Bragi (Germany)
Gorilla Technology Group (Taiwan)
SixSq Sàrl (Switzerland)
Azion Technologies LLC (US)
ClearBlade Inc. (US)
Alef Edge Inc. (US)
Adapdix (US)
byteLAKE (Poland)
Reality Analytics Inc. (US)
Deci (Israel)
StrataHive (India)
edgeworx (US)
Invision AI Inc. (Canada)
Veea Inc. (US)
Tact.ai Technologies, Inc. (US)
Horizon Robotics (China)
Kneron Inc. (US)
DeepBrainz AI (India)
Recent Market Developments
On July 27, 2021, Lanner joined hands with Microsoft Azure and introduced Edge-to-Cloud AI Solution. Lanner Edge AI appliances simplify AI deployments at the edge, decreasing communications delay and increasing workload efficacy.
Global automotive lighting refers to all vehicle lighting systems, from headlamps that illuminate the road to taillights that communicate movements. They guarantee motorists and other road users alike safety, visibility, and style. While taillights frequently use LEDs for improved visibility, headlights are available in a variety of technologies, including LED and laser. Interior illumination, DRLs, and signal lights all have a role to play. This market, which was estimated to be worth $33.64 billion in 2022, is anticipated to rise to $67.39 billion by 2030 because of laws, luxury tastes, safety concerns, and technological developments like OLED taillights and adaptive headlights. Anticipate a future dominated by intelligent, connected, personalized, and sustainable lighting systems that enhance the safety, efficiency, and aesthetic appeal of automobiles.
Car lighting works its magic to provide safety, visibility, and style. Headlights cut through the night, taillights express intent, and interiors shine with comfort. The billion-dollar global business is expected to rise due to consumer demand for high-end experiences, safer roads, and cutting-edge technology. Imagine dynamic messages being painted by taillights, headlights that adjust to the road, and interiors that customize their atmosphere. Driven by technological advancements like linked systems and laser beams, this future is calling. Anticipate even more visually attractive, environmentally friendly, and intelligent lighting to illuminate the way ahead, making cars safer, more efficient, and unquestionably cooler.
In the market for automobile lighting, safety is the driving force behind demand from the public and laws. While automated high beams smoothly react to traffic, adaptive headlights modify their beams so as not to blind other people. With visually striking displays, dynamic taillights convey intentions for braking and turning. Beyond these developments, integrated pedestrian identification and lane departure alerts will soon make roads safer and brighter for everyone.
Luxurious automobile lighting creates a distinct visual identity that goes beyond simple illumination. Personalized interior lighting customizes the driving experience by setting the mood with a range of colours and intensities, while intricate designs and distinctive DRLs modify exteriors. As you approach your automobile at night, welcoming lights lead the way, resulting in an interior that is perfectly lit. Not only is this symphony of light aesthetically pleasing, but it also stands as a tribute to luxury. Upcoming developments like gesture-controlled lighting and holographic displays promise to further enhance the experience.
The worldwide automotive lighting market is undergoing a significant transition towards energy-efficient solutions, as environmental concerns gain prominence. LED technology is leading the way, providing a ray of hope for the environment and drivers alike. LED lights beam brighter and use a lot less energy than conventional halogen lamps. There are some tangible advantages to this. For drivers, this translates to increased fuel economy, which lowers petrol prices and lessens reliance on fossil fuels. Greater air quality and a reduction in the transport sector's contribution to climate change are the results of reduced overall emissions.
Although the global automotive lighting business is booming, there are still unknowns. Difficulties impede growth even as innovation propels it with eye catching features like laser beams and adaptable headlights. These technologies are luxury items due to their high cost and difficult integration, which puts producers' abilities to the test. The worldwide patchwork created by unclear legislation limits the potential of innovation. Durability issues persist, particularly when complex systems are subjected to challenging conditions. Ultimately, a lot of drivers still don't fully understand how these improvements can help them. Together, we can overcome these obstacles. The keys to reducing costs are improved production, more seamless integration, and unified regulations. Their full potential can be realized by educating customers about the safety, efficiency, and aesthetic value of these lighting wonders. By working together, we can pave the way for an even brighter and safer future for vehicle lighting.
It is made possible by advanced LED technology, which gives drivers the ability to customize their illumination for the highest level of comfort and flair. Consumers that care about the environment want greener products, and vehicle lighting complies. While solar- and self-powered lighting technologies offer a future powered by clean energy, energy-efficient LEDs lower pollution. The advent of connected lighting systems heralds a new age. Envision automobiles interacting with infrastructure and one another to minimize accidents and enhance traffic efficiency. Integrated headlights with pedestrian recognition provide unmatched safety, while dramatic taillights with eye-catching displays alert onlookers to your intentions. The possibilities are endless in the future. Gesture-controlled interior illumination, holographic displays projected onto the road, and even light fixtures with self-healing capabilities.
Due to laws requiring safety features like headlights, taillights, and brake lights, exterior lighting presently holds the most market share in the vehicle lighting industry. The dominance of this market is partly attributed to advancements in safety-focused technologies such as adaptive headlights and daytime running lights. The market value of external lighting is increased by the quick adoption of technology like LED bulbs and laser lights, which improve performance and aesthetics. Conversely, the interior lighting market is expected to increase at the fastest rate in the upcoming years. Innovations like ambient lighting and technology breakthroughs like LED and OLED displays, driven by consumer demand for comfort and personalisation, open new possibilities. The spread of sophisticated interior lighting systems is further driven by the growing emphasis on safety and the expansion of the luxury car market.
The worldwide vehicle lighting market is currently dominated by halogen because of its more affordable price, advanced technology, and useful illumination. With its dependable supply chain and affordable option for manufacturers and cost-conscious customers, halogen holds the biggest market share. The fastest-growing market right now is LEDs, which are predicted to shortly overtake halogen. The rapid expansion of LEDs is driven by their higher efficiency, longer lifespan, flexibility in design, and technological breakthroughs including enhanced brightness. Because LEDs use less energy and produce fewer emissions and better fuel economy, they are becoming more and more popular in the changing automotive lighting market.
Passenger automobiles rule the worldwide automotive lighting market. The sheer number of passenger cars produced which surpasses that of business vehicles and fuels the need for lighting systems is the primary cause of this popularity. The growing demand for personal automobiles in developing nations is a result of rising disposable income, which in turn drives the rise of the passenger car market. The importance that consumers place on safety and aesthetics elements helps to drive market expansion. But in the upcoming years, the market for electric and hybrid cars is expected to develop at the quickest rate. The exponential rise of the worldwide electric car market, which is still expanding and shows no signs of slowing down, is what is driving this surge. Specialised lighting solutions are required since electric and hybrid vehicles have different lighting requirements because of their specific functionality and design aesthetics.
Most lighting systems sold nowadays are sold by OEMs (Original Equipment Manufacturers), primarily because manufacturers pre-install lighting systems in new cars. But in the next years, the aftermarket is expected to develop at the quickest rate. This spike in demand for replacement parts, especially lighting systems, can be linked to several variables, one of them being the average age of cars. The industry is expanding because of consumers' growing desire to personalise their cars with aftermarket lighting upgrades such LED upgrades and decorative lighting. The availability and affordability of technologies like adaptive headlights and laser lights in the aftermarket, together with other advancements in lighting technology, are driving demand even more. Moreover, the growing market for electric cars (EVs).
Throughout the forecast period, Asia Pacific is anticipated to be the automotive lighting market with the highest profitability. Over the past few years, Asia Pacific countries like China and India have seen notable increases in automotive manufacturing and sales, primarily in the medium-to premium luxury car segment. Asia Pacific is predicted to see an increase in the manufacturing of passenger cars, with India experiencing the strongest growth rate. Depending on the state of the national economy, the area offers a suitable selection of both high-end and cheap cars. For instance, there is a substantial demand for halogen, Xenon/HID, and LED since China and India produce more economy and mid-range automobiles. On the other hand, luxury car adoption rates are greater in South Korea and Japan, where LED lighting is the norm.
A brief shadow was thrown by COVID-19 over the worldwide automotive lighting market. Production was stopped by lockdowns and supply chain disruptions, while luxury lighting upgrades were shelved by consumers on a tight budget. Resources became scarce, and R&D stagnated. Still, the market is recovering thanks to resurgent demand and rearranged priorities. While energy-efficient LEDs are being pushed towards adoption by sustainability, safety concerns are driving interest in features like pedestrian detection and adaptive headlights. The digital push of the epidemic creates opportunities for intelligent, networked lighting systems that may interact with infrastructure and other cars. Ultimately, the industry is positioned to shine brighter, focused on safety, sustainability, and a connected future, even though the pandemic dimmed its brilliance.
A development collaboration between OSRAM Continental and REHAU aims to incorporate lighting into external components, providing automobile manufacturers with innovative lighting options that improve functionality and design flexibility. For rear combination lamps, Hella unveiled a revolutionary lighting innovation called Hella FlatLight technology. A Memorandum of Understanding (MoU) was signed by Samvardhana Motherson Automotive Systems Group BV (SMRPBV), a division of Motherson Group, and Marelli Automotive Lighting to investigate a technology collaboration focused on intelligently lighted external body components. Valeo debuted their revolutionary 360° lighting system at the Shanghai Auto Show. This technology surrounds the car with a band of light, projecting instantaneous, clear signs that other drivers can see from a distance. Pedestrians, cyclists, and scooter riders are especially susceptible to these signals
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