Edge Analytics Market Overview:
Global Edge Analytics Market was valued at $1,726 million in 2016, and is estimated to reach $10,025 million by 2023, growing at a CAGR of 29.2% from 2017 to 2023. Edge analytics including historical, predictive, and prescriptive analytics is offered by prominent analytics solution providers, such as Equinix, Inc., Greenwave Systems, HP Inc., and others, to automatically adjust sensors data and flow of required analytical inputs. Edge analytics provide streamlined real-time data from connected devices such as closed-circuit television (CCTV), sensors, and others to optimize historical as well as predictive analysis. The global edge analytics market is expected to witness significant growth rate, due to the rise in ICT expenditure by the government of various developed and the developing regions, including North America, Europe, and Asia-Pacific.
Asia-Pacific edge analytics market is expected to register the highest CAGR in the near future. Global vendors are investing heavily in the market to improve the overall edge analytics solution offering to ensure low-cost and on time data analysis, queueing data as per the preference level, and real-time event processing solutions. The Asia-Pacific region, which includes countries such as China, India, Japan, and Australia, offer lucrative opportunities for market players. Moreover, increase in demand for smart transportation and video management services is a key driver of the Europe edge analytics market.
The global edge analytics market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Growth in number of connected devices in IoT and surge in demand for advanced and real-time analytics contribute to the market growth in North America and Europe. However, LAMEA is expected to account less market share in the global market as compared to other regions, due to slow ICT spending and slow adoption of IoT devices. Furthermore, the Latin America and Middle East are expected to gain traction, but the growth is expected to be stable during the forecast period.
Edge Analytics Market Segmentation
The global edge analytics market is segmented on the basis of solution, type, deployment model, industry vertical, and geography. On the basis of solution, it is classified into software and service. On the basis of type, it is categorized into historical analysis, predictive analytics, and prescriptive analytics. By deployment model, it is bifurcated into cloud and on-premise. On the basis of industry vertical, it is divided into public sector, retail, healthcare, it & telecom, manufacturing, energy & utility, transportation, and others.
The key players profiled in the report are Cisco Systems, Inc., Dell Inc., Equinix, Inc., Greenwave Systems, HP Inc., IBM Corporation, iguazio, Intel Corporation, Microsoft Corporation, and Oracle Corporation. The report discusses the key strategies adopted by the companies along with the detailed analysis of the current trends, upcoming opportunities, and restraints in the global edge analytics market along with detailed information about their impacts.
Top Impacting Factors
Growth in Adoption of Connected Devices
IoT devices adoption is on an increase with rapid pace, thus generating huge amount of data and need for data analysis on real-time basis.
Surge in Demand for Prescriptive Analytics
In the recent years, prescriptive analytics platforms are on rise due to growth in demand for enhanced prescriptive modeling on historical and predicative analytics outcomes.
Increase in Inclination Towards Cloud Deployment Model
Secured data networks, increase in application development, and platform-based cloud services fuel the market growth.
Lack of IT Infrastructure in the Underdeveloped Nations
The countries in Latin America, the Middle East, and Africa have not yet adopted technologically advanced hubs with rich IT infrastructure and digital content, which in turn is expected to hinder the global market growth in the near future.
Rise in Adoption of Edge Analytics Among Enterprises
The adoption of edge analytics has increased among enterprises, owing to advantages such as enhanced uptime, reliability, alarm monitoring and active notifications.
- In-depth analysis of the global edge analytics market and its dynamics are provided to understand the market scenario.
- Quantitative analysis of the current trends and future estimations from 2017 to 2023 is provided to assist strategists and stakeholders to capitalize on the prevailing opportunities.
- Porter’s five forces analysis examines the competitive structure of the edge analytics market, and provides a clear understanding of the factors that influence the market entry and expansion.
- A detailed analysis of the geographical segments enables the identification of profitable segments for market players.
- Comprehensive analysis of the trends, sub segments, and key revenue pockets are provided in the report.
Edge Analytics Market Key Segments:
- Historical Analysis
- Predictive Analytics
- Prescriptive Analytics
By Deployment Model
By Industry Vertical
- Public Sector
- IT & Telecom
- Energy & Utility
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East