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Increasing Use of IoT Driving Demand for Edge AI Software

With the rapid development of internet of things (IoT) applications, the demand for edge artificial intelligence (AI) software is rising sharply across the world. This is because edge computing solves the various issues associated with IoT. Moreover, these AI-driven applications need high computing capabilities to process and analyze the data generated from IoT applications and devices.

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Furthermore, many edge software AI developers are investing heavily for improving the functionalities of IoT-based gadgets and applications in order to gain an edge over their rivals. For instance, an AI-based food traffic monitoring software was launched in 2019. This software allows store owners to gather data about different client traffic patterns in the shops.

Additionally, the surging requirement for greater efficiency in data processing is also pushing up the worldwide demand for AI software, thereby causing the expansion of the global edge AI software market. As a result, the market revenue surged to $600 million in 2020. Furthermore, according to the estimates of the market research company, P&S Intelligence, the market will advance rapidly from 2021 to 2030 (forecast period).

Due to this reason, enterprises are increasingly adopting the edge AI software. The edge AI software is extensively used for video and image and speech recognition and analyzing mobile data, sensor data, and biometric data. Out of these, the usage of this software is predicted to be the highest for video and image recognition over the next few years.

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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