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Global Edge AI Software Market to Reach US$ 27,457.7 Mn by 2031 at 35.9% CAGR | Asia Pacific Dominates Market with 44% Share: Astute Analytica

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New Delhi, April 06, 2023 (GLOBE NEWSWIRE) — Global edge AI software market was valued at US$ 1,734.8 Mn in 2022 and is forecast to record a revenue of US$ 27,457.7 Mn by 2031, at a CAGR of 35.9% during the forecast period 2023-2031.

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The global Edge AI software market has been on an upward trajectory in recent years and is expected to continue to grow in the future. Edge AI involves the deployment of AI algorithms and models on devices such as smartphones, cameras, drones, and other IoT devices. This allows for data to be processed locally instead of relying on cloud-based servers, which results in faster decision-making and lower latency.

There are several factors driving the growth of the Edge AI software market, including the increasing adoption of IoT devices, the need for real-time decision-making, and the growing demand for low-latency inference. Additionally, the report emphasizes the rising demand for edge computing, the proliferation of connected devices, and the requirement for real-time analytics as contributing factors.

Furthermore, the report highlights the increasing demand for efficient data processing and real-time decision-making as key drivers of market growth. Overall, the future outlook for the global market is promising, and it is expected to continue expanding due to these factors.

Current Outlook of the Global Edge AI Software Market is Lucrative

The United States government has identified Edge AI as a priority area for research and development. The National Institute of Standards and Technology (NIST) is actively working on developing standards and guidelines for Edge AI to ensure interoperability, portability, and security. NIST has also established a testing program for Edge AI systems to evaluate their performance and reliability.

In addition, the Defense Advanced Research Projects Agency (DARPA), a research and development agency of the United States Department of Defense, has launched several programs focused on Edge AI. For example, the Adapting Cross-Domain Kill-Webs (ACK) program aims to develop Edge AI capabilities that can rapidly and dynamically optimize cross-domain kill-webs, while the Edge-Directed Cyber Technologies for Reliable Mission (EdgeCT) program focuses on developing Edge AI technologies to improve the resiliency of cyber-physical systems.

The European Union is also investing in Edge AI research and development. The European Commission has launched several initiatives, such as the Edge Computing Initiative and the Next Generation Internet of Things (NGIoT) initiative, aimed at fostering the development of Edge AI technologies in Europe. The NGIoT initiative aims to develop a comprehensive strategy for the development and deployment of IoT technologies, including Edge AI.

Explosive Growth Expected in Edge AI Software Market – Software Segment to Generate Over 80% of Revenue Share

Edge AI software can be broadly classified into two types: software and services. The software segment includes software solutions that are designed to run on edge devices and perform tasks such as data processing, machine learning, and artificial intelligence. The services segment includes services such as consulting, training, and support that are provided to help organizations implement and manage edge AI solutions.

According to a report by Astute Analytica, the software segment is expected to account for more than 80% of the total revenue generated by the Edge AI software market. This can be attributed to the increasing demand for edge computing solutions and the growing adoption of artificial intelligence and machine learning in various industries.

The software segment includes a range of software solutions, such as:

  • Edge AI platforms: These are software platforms that allow for the development, deployment, and management of edge AI applications. Examples include IBM Edge Application Manager, Google Cloud IoT Edge, and AWS Greengrass.
  • Edge AI libraries and frameworks: These are software libraries and frameworks that provide pre-built functions and algorithms for edge AI applications. Examples include TensorFlow, PyTorch, and Apache MXNet.
  • Edge AI tools: These are software tools that are designed to simplify the development and deployment of edge AI applications. Examples include Microsoft Azure IoT Edge, Google Cloud IoT Core, and AWS IoT.

The growth of the software segment can also be attributed to the increasing demand for edge AI solutions in industries such as healthcare, manufacturing, transportation, and retail. These industries are using edge AI solutions to improve efficiency, reduce costs, and enhance customer experiences.

Browse summary of the report and Complete Table of Contents (ToC): https://www.astuteanalytica.com/industry-report/edge-ai-software-market

Edge AI Software Market is Reshaping the Travel, Transport, and Logistics Industry

The adoption of edge AI solutions in the travel, transport, and logistics industry is a testament to the industry’s commitment to innovation and efficiency. By harnessing the power of real-time data processing and analysis, this industry can improve its operations, reduce costs, and enhance the customer experience. Moreover, the COVID-19 pandemic has brought to the forefront the need for contactless and touchless solutions. The adoption of edge AI solutions in this industry has enabled the development of facial recognition, voice recognition, and other contactless technologies that have become critical in the current environment.

As we look to the future, it is clear that the travel, transport, and logistics industry will continue to be a key consumer of edge AI software and generate more than 19% revenue of the market. With the ongoing development of autonomous vehicles, smart traffic management, and predictive maintenance, this industry is poised to achieve unprecedented levels of efficiency and safety. As such, it is crucial that businesses operating in this industry stay up-to-date with the latest edge AI developments to remain competitive in the marketplace.

Edge AI Software Market: A Game-Changer in Revolutionizing Energy Management, With 21% Revenue Share

Astute Analytica’s recent report has shown that edge AI software is revolutionizing energy management by providing real-time analysis of data from sensors and devices. This technology has the potential to optimize energy usage, reduce waste, and improve efficiency, leading to cost savings and a more sustainable approach to energy management. One of the key drivers of edge AI software in power management is its ability to perform energy optimization. By analyzing data from sensors and devices, edge AI software can identify patterns and trends in energy usage, which can be used to optimize energy usage and reduce waste. This can result in significant cost savings and a more sustainable approach to energy management.

Apart from this, edge AI software in power management is increasingly being used for predictive maintenance. By monitoring the performance of power systems and predicting when maintenance is needed, edge AI software can prevent equipment failures and reduce downtime, improving overall efficiency and reducing costs.

Asia Pacific Dominates the Global Edge AI Software Market with Over 44% Market Share

Astute Analytica’s analysis has shown that the global market is growing rapidly, with Asia Pacific expected to dominate with more than 44% market share. North America is expected to remain the second largest consumer with more than 22% revenue share. The growth of the edge AI software market can be attributed to several factors, including the increasing demand for real-time processing and analysis of data, the proliferation of connected devices, and the need for more efficient and sustainable energy management.

In Asia Pacific, the dominance of edge AI software can be attributed to the region’s rapidly growing industrial sector, particularly in countries such as China and India. These countries have large populations and rapidly growing economies, which are driving demand for more efficient and cost-effective energy management solutions.

In North America, the demand for edge AI software is being driven by the region’s large and mature industrial sector, particularly in the United States. The US is a major market for edge AI software, with companies in industries such as manufacturing, transportation, and energy management increasingly adopting this technology to improve efficiency and reduce costs.

In Europe, the edge AI software market is also growing rapidly, with countries such as Germany, France, and the United Kingdom leading the way. These countries have strong industrial sectors and are investing heavily in research and development to stay competitive in the global market.

Some of the Top Market Players Are:

  • Alef Edge, Inc.
  • Anagog Ltd.
  • AWS
  • Azion Technologies
  • Bragi.Com
  • Chaos Prime, Inc.
  • Clearblade, Inc.
  • Foghorn Systems, Inc.
  • Google
  • Gorilla Technology Group, Inc.
  • IBM
  • Imagimob
  • Microsoft
  • Nutanix
  • Octonion
  • Sixsq Sarl
  • Synaptics
  • TACT.AI
  • TIBCO Software
  • Veea Inc.
  • Other Prominent Players

Directly Purchase a copy of report with TOC @ https://www.astuteanalytica.com/inquire-before-purchase/edge-ai-software-market

About Astute Analytica

Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.

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Artificial Intelligence

Paperpal achieves major milestone; emerges as go-to AI writing assistant for 1 million academics globally

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PRINCETON, N.J., May 22, 2024 /PRNewswire/ — Paperpal, the AI academic writing assistant by Cactus Communications (CACTUS), is proud to announce a significant milestone of surpassing one million users worldwide in just 18 months since its launch. This achievement underscores the trust academics have placed in Paperpal, which has evolved from being an editing tool to a comprehensive AI academic writing assistant, guiding users from ideation to submission readiness.

Leveraging over 22 years of scientific, technical, and medical (STM) experience, Paperpal is continually expanding and deepening its support for students, educators, and researchers globally, empowering them to streamline the academic writing process and deliver high-quality, original content faster than ever before.
Several factors have contributed to Paperpal’s rapid growth, including academic-focused features such as precise, contextual writing and editing suggestions, comprehensive checks, and a user-friendly interface. Moreover, early adoption by the global researcher community, particularly non-native English speakers, has played a pivotal role in driving its popularity. Paperpal’s commitment to prioritizing user feedback for continuous improvement is evident in its consistent high Net Promoter Score (NPS) of 70. This indicates the high user satisfaction and strong recommendations by leading universities, publishers, and academics from 125+ countries, including the United States, United Kingdom, Germany, Italy, Japan, and India.
Expressing excitement on this milestone, Abhishek Goel, Co-Founder & CEO, Cactus Communications, says, “We are thrilled to announce that Paperpal has reached this milestone. Our mission is to help researchers reach their highest potential, and Paperpal as a tool empowers them with assistance in ideation, writing, editing and overall submission readiness of their manuscripts. We look forward to continue to empower students and researchers worldwide to be able to do more with their time.”
Nishchay Shah, Chief Technology Officer and Head, Emerging Products, Cactus Communications, adds, “This milestone is a testament to the dedication of the entire team behind Paperpal, which is continually working to support academics in their research pursuits by building and harnessing the latest AI technologies. With our user feedback-driven roadmap philosophy and continuous iteration, we aim to be the #1 writing tool of choice for academics worldwide.”
Paperpal leverages secure generative AI to provide science-based insights, text suggestions, language and grammar correction, paraphrasing, translation, with plagiarism and submission readiness checks to help academics write better, faster, and move closer to publication success.
For more information, visit https://paperpal.com/
For more details, contact:Nidhi AminCactus Communications (CACTUS)Email: [email protected] | [email protected] Tel no.: +1-267-332-0051
 
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NTT DATA to celebrate its success with SAP at the Sapphire and ASUG Annual Conference 2024

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NTT DATA invites attendees at SAP Sapphire 2024 in Orlando and Barcelona to learn how to bring out the best in their business with SAP, across a range of hosted talks and sessions during the eventsNTT DATA will reveal “Transformation Study 2024” insights at the event in partnership with its subsidiary NatuvionAward Ceremony in Orlando: Four prestigious SAP© Pinnacle Awards underscore NTT DATA’s success as a key partner for SAP globallyBARCELONA, Spain and ORLANDO, Fla., May 22, 2024 /PRNewswire/ — NTT DATA, a global digital business and IT service provider, has announced today that it will celebrate its long and successful partnership with SAP by attending the upcoming SAP Sapphire 2024 conferences worldwide. NTT DATA will be a Platinum Sponsor at the SAP Sapphire and ASUG Annual Conference 2024 from 3-5 June 2024, in Orlando, Florida, and will also be a Platinum Sponsor at the SAP Sapphire event in Barcelona (11-13 June).

“SAP Sapphire is always a highlight for us. We are the top winner this year with four Pinnacle Awards and five finalist recognitions. This underscores the trust that SAP and our customers have in our 35 years of expertise,” said Norbert Rotter, CEO of NTT DATA Business Solutions and EVP NTT DATA, Inc.
Transformation Study to be released at SAP Sapphire
In collaboration with its subsidiary Natuvion, NTT DATA will unveil the Transformation Study 2024 at the SAP Sapphire conference in Orlando and will make it available for download at their booth during both Orlando and Barcelona events. The report will provide in-depth insights into the challenges, success factors and lessons learned by enterprises during the transition from legacy IT systems to modern, innovative technologies. With perspectives from industry leaders in Germany, Austria, Switzerland, Norway, Finland, Sweden, Denmark, UK and the USA, the study reveals how their organizations are modernizing their IT infrastructure and planning for their future.
Celebrate with NTT DATA in Orlando and Barcelona
Meet us in Orlando to learn how we can help power intelligent and sustainable enterprises and ignite tomorrow, today with innovative technology solutions, industry domain expertise and an assortment of SAP lifecycle-based tools and accelerators. Leaders from four NTT DATA Group organisations will address the following topics in Sapphire theatre presentations:
4th June, 10:30am, Orlando – Transforming SugarCreek for Tomorrow with SAP S/4HANA (Strategy Talk)4th June, 11:00am, Orlando – NTT DATA and SAP Preferred Success: Maximizing Value for SugarCreek (Customer Success Story)12th June, 1:30pm, Barcelona – Andel: Transitioning two SAP ECC systems to SAP S/4HANA in the cloudMake sure to stop by our booth or schedule a meeting with our SAP experts who will be available in booth #351 in Orlando, Florida and booth #5.305 in Barcelona, Spain.
For more information visit nttdata-solutions.com.
About NTT DATA
NTT DATA is a $30+ billion trusted global innovator of business and technology services. We serve 75% of the Fortune Global 100 and are committed to helping clients innovate, optimize and transform for long-term success. We invest over $3.6 billion each year in R&D to help organizations and society move confidently and sustainably into the digital future. As a Global Top Employer, we have diverse experts in more than 50 countries and a robust partner ecosystem of established and start-up companies. Our services include business and technology consulting, data and artificial intelligence, industry solutions, as well as the development, implementation and management of applications, infrastructure, and connectivity. We are also one of the leading providers of digital and AI infrastructure in the world. NTT DATA is part of NTT Group and headquartered in Tokyo. Visit us at nttdata.com
SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE in Germany and other countries. Please see https://www.sap.com/copyright for additional trademark information and notices. All other product and service names mentioned are the trademarks of their respective companies.
 
 

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BeCause and d2o Team Up to Create First-of-its-Kind CSRD Solution for the Travel and Hospitality Industries

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Combining d2o’s PMI GoGreen environmental management tool and BeCause’s sustainability data management platform offers hotels the only CSRD compliance solution rooted in efficiency and profitability.
NICE, France, May 22, 2024 /PRNewswire/ — BeCause, the Danish start-up transforming how the global hospitality, travel, and tourism industries manage their sustainability data, has partnered with d2o, a leading forecasting and resourcement management technology provider for the hospitality industry, to create a comprehensive Corporate Social Responsibility Directive (CSRD) solution for hotels. The collaboration unites the BeCause Sustainability Hub with d2o’s PMI GoGreen suite of prediction, targeting, tracking, and allocation tools to create an auditable CSRD reporting solution that goes beyond compliance to boost efficiency and profits. The partnership was announced yesterday at the World Sustainable Hospitality Alliance Spring Summit in Nice, France.

By joining forces, BeCause and d2o have taken a giant leap toward building a viable, valuable ecosystem between the hotel industry and technology providers that leverages the power and potential of daily sustainability data management. CSRD compliance is just the starting point; BeCause and d2o are demonstrating that with the right technology, sustainability initiatives can drive operational efficiency and profitability for hotels around the world.
“As an inventor and entrepreneur, it is a dream come true to have a product that fully meets the needs of our customers’ stakeholders, including owners, guests, staff, authorities, and local communities,” says d2o CEO Young Nguyen. “The partnership between d2o and BeCause will enhance the hotel industry’s ability to transform a costly compliance challenge into a business opportunity. We call this partnership PMI GoGreen BeCause… because the hotel industry and the planet require a comprehensive solution to address a complex issue.”
Going Beyond CSRD Reporting and Compliance
As a result of this partnership, the PMI GoGreen tools will be seamlessly integrated into the BeCause platform. This integration, facilitated by an API, allows for the sharing and mapping of data, making it reusable for CSRD reporting. This not only simplifies the compliance process for hotels but also ensures accuracy and auditability at the activity level, meeting financial-grade CSRD reporting standards.
However, the joint solution goes beyond compliance and reporting. By centralizing data within the BeCause platform and applying the integrated PMI GoGreen tools, hotel chains gain visibility into which individual properties are meeting their targets for reducing CO2 emissions, energy consumption, water usage chemicals, waste, towels & linens, and food waste. The combined solution also utilizes machine learning algorithms and predictive analytics to identify those targets and help properties optimize resource usage to meet them amidst daily fluctuating demand. System integration service ensures seamless interoperability between the BeCause Sustainability Hub, PMI GoGreen tools, and various internal hotel systems, including property management, point-of-sale, table reservations, sales and catering, timekeeping, and more.
These combined capabilities allow hotels to increase efficiency—hotels are projected to reap 12-15% in resource savings—cultivate ownership among frontline managers, showcase their sustainability efforts to travelers, and, of course, meet their CSRD compliance obligations.
“We believe in the power of ecosystems, and by partnering with d2o, we’ve built a particularly effective one,” says BeCause CEO and Co-founder Frederik Steensgaard. “Not just in terms of helping hotels reach CSRD compliance, but by using the combined capabilities of our solutions to address everyday issues that impact their margins and organizational effectiveness. Why should compliance and reporting be a cost-heavy headache for hotels when it could be driving profitability and operational efficiency?”
An Efficient Solution Specifically Designed for Hospitality
BeCause is a purpose-built, AI-powered hub that centralizes a hotel’s sustainability data and automates the transmission of that data amongst different stakeholders, such as travel and accommodation booking marketplaces and industry certifications. Additionally, once a hotel enters its data into the BeCause platform, it can be upcycled and automatically mapped to multiple frameworks, making qualifying for voluntary green certifications faster and more efficient while ensuring regulatory compliance.
The PMI GoGreen suite of tools developed by d2o enables hospitality groups to achieve their long-term environmental goals by breaking them down into monthly targets tailored to each property’s attributes and seasonal variations. Each hotel’s future targets are dynamically adjusted based on progress, ensuring the consistency of the group’s end goal. Individual hotels and hotel chains can track their progress with forward looking data-based indicators and utilize predictive analytics to optimize resource allocation, minimize waste, and cut operating costs.
The combined PMI GoGreen BeCause solution leverages these capabilities to deliver at least 100% ROI for hotels that implement it. The solution will undergo a phased roll-out through the summer of 2024 before formally launching in September.
For more information about BeCause, d2o or the partnership, or to request an interview, please contact: Vanessa Horwell at [email protected] for BeCause CEO and Co-founder, Frederik Steensgaard or Young Nguyen [email protected] for d2o, Founder and CEO.
About BeCauseBeCause is an enterprise software company that streamlines the flow of sustainability data and creates synergies between different stakeholders in the travel, tourism, and hospitality industries, empowering them to make decisions that result in positive, responsible change for people, the planet, and their profits. BeCause works with over 25,000 hotels, including brands like Radisson, certification entities like GreenKey, industry partners like the Global Sustainable Tourism Council and the SHA, and marketplaces like Booking.com. For more information, visit because.eco.
About d2o and PMI GoGreenFounded in Norway and built on Scandinavia’s legacy of employee well-being and sustainability, d2o has over 20 years of experience helping clients optimize resources for maximum profit while navigating high-cost environments. The company’s PMI GoGreen Environmental Management System (EMS) empowers hotel managers to surpass compliance and achieve true sustainability. Leveraging auditable data, predictive analytics, and hotel demand, PMI GoGreen reduces CO2 emissions and the usage of critical resources like energy, water, and food and transforms hotel sustainability obligations into a profitable, cross-functional endeavor. For more information, please visit www.d2o.com/sustainability-gogreen-with-pmi-by-d2o/.

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