Artificial Intelligence
What will be the Future of Edge AI Software Market – Informative Report [284 Pages] by Research Dive
New York, USA, Oct. 12, 2020 (GLOBE NEWSWIRE) — The Global Edge AI Software Market forecast shall cross $3,093.2 million by 2027, growing at a CAGR of 28.8% in the estimated period.
Edge AI includes various AI algorithms processed on a hardware device. These algorithms mostly use data created on devices and helps in operating the device without the need to be connected in order to work properly. With the help of AI software, devices can process and take decisions independently without any connection.
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COVID-19 Impact on the Global Edge Artificial Intelligence (AI) Software Market
The novel coronavirus outbreak has impacted the global edge AI software market positively during the pandemic. Due to the pandemic across the globe, several organisations have been shut, impacting the operational flow of the market. Enterprises supporting work from home, automation in manufacturing units and rise in the demand for predictive analytics among organisations are factors predicted to drive the global market at the time of the coronavirus outbreak.
Edge AI is defined as the process of bringing distributed computational framework of enterprise application where data can be created, and various actions can be taken. Edge AI software are utilized in air quality sampling machines, AI enhanced entertainment, drones, industrial IoT applications, and smart speakers. It is also utilized in industrial settings that enhance the creation of analytical expressions, validation of sensors, and enables to visualize results of analytical expressions. Thus, rise in the utilization of edge AI software for above applications are anticipated to drive the demand of global edge AI software market in the estimated timeframe. In addition, increasing utilization of edge AI software in increasing agricultural efficiency is anticipated to provide opportunity in the projected timeframe.
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Ethical issues related with the software have been predicted to hamper the market growth. For instance, based on the data fed into the systems the software indicates whether a person is eligible for a loan. Edge AI software helps in taking the decision automatically, which is ethically incorrect. Most organisations cannot secure this data, which is predicted to hamper the market in the estimated period.
Service sub-segment is predicted to have the maximum growth rate in the estimated period. Service sub-segment is predicted to generate a revenue of $1,102.4 million by 2027 with a CAGR of 30.7% in the estimated period. Increasing adoption of edge AI software by most organizations is directly impacting the services for training, maintenance, and other services which is predicted to drive the sub-segment in the estimated period.
Bio-metric data source sub-segment is predicted to have the highest growth in the forecast period. Bio-metric data source sub-segment is predicted to generate a revenue of $657.4 million by 2027 with a CAGR of 29.7% in the estimated period. Various organizations are continuously focusing on better alternatives to replace conventional security methods as bio metric is used to overcome the issue. Moreover, fingerprint scans are being used for verification of employees at the workplace as well as identifying the consumers to fulfil KYB and KYC regulations, which is predicted to boost the sub-segment market in the estimated period.
Remote monitoring and predictive maintenance sub-segment is predicted to grow enormously in the estimated period. Remote monitoring and predictive maintenance sub-segment is predicted to generate a revenue of $ 595.9 million by 2027 with a CAGR of 29.7% in the estimated period. Remote monitoring of machines by utilizing edge AI software is one of the major software for various industries such as healthcare and manufacturing and is predicted to drive the sub-segment in the estimated period.
Telecom sub-segment is predicted to have maximum growth rate in the estimated period. Telecom sub-segment is predicted to generate a revenue of $727.9 million by 2027 with a CAGR of 29.8% in the estimated period. Rise in the adoption of edge AI software by telecom operators with respect to AI based applications, which enables the companies to solve previously intractable challenges such as data fluctuations, signal dropping issues and other challenges through network optimization, which is predicted to boost the sub-segment market in the estimated period.
Asia-Pacific region market is predicted to have the highest growth rate in the estimated period. Asia-Pacific region market is predicted to generate a revenue of $476.4 million by 2027 with a CAGR of 32.4% in the estimated period. Increasing investments by various Asia-Pacific economies to modernize the production facilities by using edge AI software systems is predicted to drive the region market in the estimated period. Moreover, Edge AI software is used to support various Sustainable Development Goals (SDGs) in various industry verticals such as healthcare, education, energy, industry, innovation work, agriculture, and infrastructure is predicted to drive the sub-segment in the estimated period.
Major Market Players
- International Business Machine (IBM)
- Microsoft Corporation
- Foghorn Systems Inc.
- In Vision AI
- Anagog Ltd.
- Amazon Web Services (AWS)
- TIBCO Software Inc.
- Imagimob AB
- Veea Inc.
- Tact.ai Technologies Inc.
To emphasize more on the competitive landscape analysis of established enterprises, the porter’s five force model is explained in the report.
Porter’s Five Forces Analysis for Edge AI Software Market:
• Bargaining Power of Suppliers: The switching cost from one supplier to another is projected to be low. The bargaining power of suppliers is very moderate.
• Bargaining Power of Consumers: In this market, the concentration of buyers is high. The bargaining power of consumers is moderate.
• Threat of New Entrants: Huge initial investments are essential to start a new edge AI software organization. The threat of new entrants is Low.
• Threat of Substitutes: This market has numerous alternatives of products; moreover, technology also offers high switching costs for clients. The threat of substitutes is high.
• Competitive Rivalry in the Market: The edge AI software market has only major players to sell their products and it becomes difficult for small and medium enterprises and local manufacturer to get into the market. The competitive rivalry in the industry is Moderate.
Further, the report outlines several aspects of all these industry players such as SWOT analysis, recent strategic moves & developments, financial performance, and product portfolio. Click Here To Get Absolute Top Companies Development Strategies Summary Report
COVID-19 Impact on the Global Edge Artificial Intelligence (AI) Software Industry
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Artificial Intelligence
Identity Governance & Administration Market Projected to Reach $24.42 billion by 2030 – Exclusive Report by 360iResearch
PUNE, India, April 25, 2024 /PRNewswire/ — The report titled “Identity Governance & Administration Market by Component (Services, Solution), Modules (Access Certification & Compliance Control, Access Management, Identity Lifecycle Management), Organization Size, Deployment, Vertical – Global Forecast 2024-2030” is now available on 360iResearch.com’s offering, presents an analysis indicating that the market projected to grow from a size of $8.46 billion in 2023 to reach $24.42 billion by 2030, at a CAGR of 16.34% over the forecast period.
“Navigating Global Identity Governance With Key Strategies for Digital Security and Compliance”
Identity governance and administration (IGA) has emerged as a critical policy-driven approach aimed at fortifying digital identities within organizations, ensuring that proper access is provided to the right individuals for valid reasons. Across the globe, the demand for IGA solutions is on the rise, driven by the need to tackle sophisticated cyber threats, comply with stringent data protection laws, and adapt to the digitization wave sweeping through industries. Challenges include integrating these solutions with pre-existing IT frameworks, primarily in organizations reliant on legacy systems. The North American market, led by the United States and Canada, is at the forefront of this expansion, embracing technological advancements and stringent regulatory standards. Meanwhile, the Europe, Middle East, and Africa (EMEA) region is navigating its unique landscape, with the EU focusing heavily on compliance through GDPR and the Middle East and Africa gradually recognizing the value of digital security. The Asia-Pacific region is witnessing a significant uptrend in IGA solutions adoption, spurred by digital transformation initiatives and cybersecurity awareness, with China and India playing pivotal roles. This global perspective highlights the universal importance of IGA in today’s digital era, highlighting the critical balance between innovation, security, and regulatory compliance in safeguarding digital identities.
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“Navigating the New Normal With The Crucial Role of Identity Governance in Securing Hybrid Work Environments”
As businesses globally embrace the fusion of remote and traditional office work, the need for secure, hybrid workspaces becomes paramount. The shift toward flexible working models, accelerated by the COVID-19 pandemic, highlights the importance of cybersecurity and accessibility in ensuring operational continuity and a better work-life balance. Identity governance & administration (IGA) systems emerge as essential tools within this evolving work landscape. They enable organizations to manage digital identities and access rights effectively, safeguarding sensitive data against unauthorized access across diverse working environments. By ensuring that only credentialed employees can access critical information, regardless of their physical location, IGA solutions stand at the forefront of maintaining cybersecurity compliance and operational integrity. This development signifies a growing demand for robust identity governance frameworks, ensuring businesses remain resilient and secure in remote work and beyond.
“Elevating Security and Efficiency in Organizations through Specialized Identity Governance & Administration Services”
Managed and professional services provide organizations with the specialized expertise necessary for optimizing the performance and security of identity governance & administration (IGA) systems, eliminating the need for such in-depth knowledge internally. Businesses benefit from advanced skills that enhance system functionality and safeguard sensitive data by outsourcing specific IGA tasks. From the initial stages of integration and implementation, ensuring seamless incorporation with existing infrastructures, to ongoing support and maintenance for consistent system reliability and up-to-dateness, these services form the foundation of effective IGA strategies. Furthermore, training and consulting play a pivotal role, equipping companies with the understanding and capability to utilize their IGA systems to the fullest. IGA solution is a critical technological tool designed to streamline the management of user access rights across organizations, bolstering security, operational efficiency, and compliance with regulatory standards. This comprehensive approach to IGA facilitates a more secure, efficient, and compliant organizational environment, empowering businesses to focus on core objectives and ensure their data remains protected.
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“International Business Machines Corporation at the Forefront of Identity Governance & Administration Market with a Strong 7.09% Market Share”
The key players in the Identity Governance & Administration Market include Broadcom, Inc., SAP SE, Oracle Corporation, Microsoft Corporation, International Business Machines Corporation, and others. These prominent players focus on strategies such as expansions, acquisitions, joint ventures, and developing new products to strengthen their market positions.
“Introducing ThinkMi: Revolutionizing Market Intelligence with AI-Powered Insights for the Identity Governance & Administration Market”
We proudly unveil ThinkMi, a cutting-edge AI product designed to transform how businesses interact with the Identity Governance & Administration Market. ThinkMi stands out as your premier market intelligence partner, delivering unparalleled insights with the power of artificial intelligence. Whether deciphering market trends or offering actionable intelligence, ThinkMi is engineered to provide precise, relevant answers to your most critical business questions. This revolutionary tool is more than just an information source; it’s a strategic asset that empowers your decision-making with up-to-the-minute data, ensuring you stay ahead in the fiercely competitive Identity Governance & Administration Market. Embrace the future of market analysis with ThinkMi, where informed decisions lead to remarkable growth.
Ask Question to ThinkMi @ https://app.360iresearch.com/library/intelligence/identity-governance-administration
“Dive into the Identity Governance & Administration Market Landscape: Explore 197 Pages of Insights, 654 Tables, and 26 Figures”
PrefaceResearch MethodologyExecutive SummaryMarket OverviewMarket InsightsIdentity Governance & Administration Market, by ComponentIdentity Governance & Administration Market, by ModulesIdentity Governance & Administration Market, by Organization SizeIdentity Governance & Administration Market, by DeploymentIdentity Governance & Administration Market, by VerticalAmericas Identity Governance & Administration MarketAsia-Pacific Identity Governance & Administration MarketEurope, Middle East & Africa Identity Governance & Administration MarketCompetitive LandscapeCompetitive PortfolioInquire Before Buying @ https://www.360iresearch.com/library/intelligence/identity-governance-administration
Related Reports:
Privileged Identity Management Market – Global Forecast 2024-2030Identity & Access Management Professional Services Market – Global Forecast 2024-2030Digital Identity Solutions Market – Global Forecast 2024-2030About 360iResearch
Founded in 2017, 360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
We are a dynamic, nimble company that believes in carving ambitious, purposeful goals and achieving them with the backing of our greatest asset — our people.
Quick on our feet, we have our ear to the ground when it comes to market intelligence and volatility. Our market intelligence is diligent, real-time and tailored to your needs, and arms you with all the insight that empowers strategic decision-making.
Our clientele encompasses about 80% of the Fortune Global 500, and leading consulting and research companies and academic institutions that rely on our expertise in compiling data in niche markets. Our meta-insights are intelligent, impactful and infinite, and translate into actionable data that support your quest for enhanced profitability, tapping into niche markets, and exploring new revenue opportunities.
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Artificial Intelligence
Enghouse Video Partners With SONIFI Health To Deliver Advanced Telehealth Solutions In Hospital Rooms
MARKHAM, ON, April 25, 2024 /PRNewswire/ — Enghouse Video, a global leader in cutting-edge video technology solutions, today announced its partnership with SONIFI Health, enhancing virtual care in hospital settings.
SONIFI Health is a leading U.S. healthcare technology company based in Sioux Falls, South Dakota. The new partnership leverages and integrates Enghouse Video room systems technology to support SONIFI Health’s commitment to expanding telehealth applications and system optimizations in hospital settings.
Enghouse’s VidyoRooms solution, a sophisticated video conferencing technology that combines both software and hardware solutions, has been fully integrated into SONIFI Health’s interactive TV systems. This integration provides up to 4K high-quality video conferencing, multi-party sessions and robust security features that ensure full compliance with healthcare regulations.
Enghouse Video offers an immersive telehealth platform to support collaborative interdisciplinary care, improved patient outcomes and cost savings. The platform is flexible and simple, delivering the reliability, interoperability, and scalability needed for today’s healthcare environment. A key strength of the partnership is its offering of back-end integrations like patient portals, medical devices, EMR, tele-sitting, remote patient observation and consultation.
“Hospitals can choose the telehealth partner that’s right for them, and we incorporate that solution with interactive TV,” said Brian Nido, SONIFI Health’s Vice President of Customer Success. “Using the hardware and systems they already have in patient rooms helps hospitals reduce costs and maximize the value of their existing investments, while benefiting both clinicians and patients.”
SONIFI Health and Enghouse Video continue to collaborate closely to further refine and enhance the telehealth solutions provided to healthcare facilities. This partnership reflects a shared commitment to leveraging technology to create smarter hospital rooms and improve patient care across the healthcare spectrum.
About Enghouse VideoEnghouse Video, part of the Enghouse Interactive division, is a subsidiary of Enghouse Systems Limited, a vertically focused software and services company traded on the Toronto Stock Exchange (TSX: ENGH). Through highly secure, scalable and flexible Cloud-based or On Prem services, we deliver one of the world’s highest quality and most innovative video platform to video-enable any application or idea. From advanced video conferencing and collaboration tools to state-of-art enterprise video management, Enghouse Video is a unique player in multiple markets, including telehealth. Learn more at www.enghousevideo.com, read our blog, or follow us on Twitter at @EnghouseVideo, on LinkedIn, and on Facebook.
About SONIFI HealthSONIFI Health provides market-leading interactive patient engagement technology proven to improve patient outcomes and staff productivity. The EHR-integrated platform is designed to enhance patient and family experiences while increasing staff satisfaction and organizations’ operational efficiencies. As part of SONIFI Solutions, Inc., the company annually supports more than 300 million end user experiences. Learn more at sonifihealth.com.
Enghouse Video Contact: Sylvain Awad, Director, Demand Generation, Enghouse Video, part of Enghouse Interactive Division, [email protected]
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Artificial Intelligence
Global Insurance Provider Selects 3CLogic to Streamline AI and Contact Center Capabilities with ServiceNow
Multinational Insurance Broker to deploy 3CLogic’s solution with ServiceNow’s Financial Service Operations (FSO) platform to streamline customer experiences.
ROCKVILLE, Md., April 25, 2024 /PRNewswire/ — 3CLogic, the leading Conversational AI and Contact Center solution for ServiceNow®, today announced its selection by a global insurance provider to replace its existing contact center infrastructure as part of a larger CX transformation effort. The strategic decision is designed to complement the organization’s use of ServiviceNow’s Financial Services Operations (FSO) offering leveraged across a number of its existing product lines including Customer Warranty Claims, Roadside Assistance, and Home Warranties.
Serving millions of customers worldwide with innovative insurance and protective products, the organization required a solution that would enhance its recent investment in the ServiceNow platform as it works to transform its end-to-end customer service operations. The deployment will incorporate several of 3CLogic’s AI-powered capabilities purpose-built for ServiceNow, including Conversational AI, Speech Analytics, and AI Performance & Coaching, along with integrated call transcriptions, convenient 2-way SMS, and ServiceNow-centralized contact center reporting.
“We continue to see enterprises eager to complement their existing investment in digital platforms, such as ServiceNow, with contact center features purpose-built to extend the workflows and features they already have and use,” explains Matt Durkin, VP of Global Sales at 3CLogic. “It’s no secret that organizations are already juggling too many systems, often with overlapping capabilities, which impacts ROI and operational efficiency. We’re proud to offer an alternative approach that helps simplify the technology stack while optimizing the overall operational costs and outcomes.”
Recently named to Constellation Research’s 2024 Shortlist for Digital Customer Service and Support, 3CLogic has seen global adoption of its solution by leading enterprises in healthcare, manufacturing, travel, retail, higher education, finance, non-profits, and Managed Service Providers across five continents. As a ServiceNow-certified Technology and Build partner with offerings available for ServiceNow’s IT Service Management, Customer Workflows, HR Service Delivery, and Source-to-Pay solutions, the company will be unveiling its latest set of capabilities at ServiceNow’s annual Knowledge 2024 event this May in Las Vegas.
For more information, please contact [email protected].
About 3CLogic3CLogic transforms customer and employee experiences with its leading Cloud Contact Center and AI solutions purpose-built to enhance today’s leading CRM and Customer Service Management platforms. Globally available and leveraged by the world’s leading brands, its offerings empower enterprise organizations with innovative features such as intelligent self-service, generative and Conversational AI, agent automation & coaching, and AI-powered sentiment analytics – all designed to lower operational costs, maximize ROI, and optimize each interaction across IT Service Desks, Customer Support, Sales or HR Services teams. For more information, please visit www.3clogic.com.
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