Share this article
Share this article
ResearchAndMarkets.com's offering.
The global edge AI software market size to grow from USD 590 million in 2020 to USD 1,835 million by 2026, at a Compound Annual Growth Rate (CAGR) of 20.8% during the forecast period.
Various factors such as increasing enterprise workloads on the cloud and rapid growth in the number of intelligent applications are expected to drive the adoption of the edge AI solutions and services. The objective of the report is to define, describe, and forecast the edge AI software market size based on component, type, GNSS receiver, application, vertical, and region.
As the world braces for the continued impact of the COVID-19 pandemic, every industry has been affected. To mitigate pandemic risks, organizations around the world are taking adequate measures such as remote working capabilities, remote asset maintenance and monitoring, plant automation, and telehealth. A high positive impact has been witnessed in the healthcare vertical, as firms have started realizing the potential of edge AI software in combating the impact of COVID-19. This has led to increased funding and research to keep businesses safe and secure across the value chain. It is expected that the market will witness slow growth during the pandemic and bounce back with a higher adoption rate across verticals post-pandemic. Organizations worldwide have been using digital infrastructure to continue with their usual business activities as it serves as an essential infrastructure. Healthcare, the public sector, and education verticals are adopting digitalization at an unprecedented rate. Several clouds and edge companies are offering their computational services for free to the frontline workers to reduce the impact of COVID-19.