Report Ocean has released a research study titled “Edge AI Software Market” which provides a comprehensive view of the competitive market and includes an in-depth supply chain analysis to identify significant industry changes. The global edge AI software market held a market value of USD 1,459.8 Million in 2021 and is projected to reach USD 8,049.8 Million by the year 2027, registering a CAGR of 35.9%. The market is set to boom at a double-digit growth rate owing to the increased advancements in AI-powered IoT in smart applications and the increased use of edge AI software in the 5G network industry. However, data privacy compliance standards and the lack of capacity to process complex AI, machine learning algorithms are hindering the market growth.
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