The Edge AI Software market size is projected to reach USD 3363.7 Million by 2026, from USD 713.4 Million in 2019. Edge AI is the combination of Edge Computing and Artificial Intelligence. Machine Learning (ML) algorithms are processed locally on an edge device rather than in the cloud or remote data centre.
The algorithms use the data generated by the devices themselves, enabling them to make decisions in a matter of milliseconds. There are almost no limits to the potential uses of Edge AI from smart vehicles, homes, devices, buildings, cities, manufacturing, and more.
Edge processing is becoming cheaper, more powerful, and with lower power requirements, delivering:
Transferring data to the cloud and back to the device takes time. Edge AI eliminates the latency, particularly important for applications that require much quicker response times, such as in smart vehicles.
Edge AI enables almost real-time analytics, taking a fraction of a second. For time-critical situations this can be crucial and potentially lifesaving.