Autonomous Systems Providing the Computing Power Needed for Quick Decision-Making are Expected to Fuel Growth for Edge AI Software Market

Edge computing allows IoT data to be processed closer to the source instead of being transferred over long distances to data centers or the cloud. This involves managing persistent data close to the data source, known as the "edge" of the association.

Source: Intent Market Research Analysis

Edge AI is employed in BFSI to analyze transaction data in real-time on local devices, allowing for immediate fraud detection without the need for constant communication with a central server. Edge AI software analyzes historical and real-time data to provide predictive insights into potential financial risks. Implementing AI-powered chatbots on local devices improves customer service in branches or through mobile apps. Implementing edge AI in the BFSI sector leads to faster decision-making, improved security, and enhanced customer satisfaction while addressing the industry's stringent regulatory requirements.

Service providers assist in developing and optimizing AI models for deployment on edge devices. Edge AI service providers implement robust security measures, including encryption, authentication, and secure communication protocols to protect data and models. Some solutions involve a combination of edge and cloud processing. Service providers facilitate integration between edge devices and cloud platforms, ensuring a cohesive and scalable AI infrastructure. Edge AI models require ongoing monitoring and maintenance. Service providers offer solutions for real-time monitoring, troubleshooting, and updating models to adapt to evolving requirements. These services play a crucial role in unlocking the potential of AI at the edge, offering real-time insights and automation.

The adoption of Edge AI software in Asia-Pacific (has been on the rise, driven by various factors such as the increasing penetration of IoT devices, the need for real-time processing, and the growth of industries such as manufacturing, healthcare, and finance. The retail sector in the Asia-Pacific is exploring Edge AI to improve customer experiences. Edge AI applications in retail include smart shelves, inventory management, and personalized shopping experiences based on real-time customer behavior analysis. The Asia-Pacific region often sees collaboration between technology companies, startups, and traditional industries to deploy innovative Edge AI solutions. As technology continues to evolve, the Asia-Pacific region is expected to play a significant role in shaping the future of Edge AI, driving innovation, and addressing unique challenges across diverse industries.

Some prominent players in the global edge AI software market are Alef Edge, Azion Technologies, FogHorn Systems, General Electric Company, Google, Huawei Technologies, IBM, Intel, Microsoft, Nutanix, NVIDIA, Qualcomm, Samsung Electronics, Synaptics, Tibco Software.