Edge analytics market to surpass USD 11 billion | market in-depth analysis, trends, demand, growth and forecast 2030

 

Market Highlights

The global edge analytics market to accomplish USD 11 Billion by 2030 at a pace of 31%, finds Market Research Future in its latest reports. The expansion of the market would take place between 2021 and 2030.

Some IoT application would require short response time, some might involve private data, or some applications might produce large amount of data which in return would increase the load on the network. Cloud computing would not be very efficient to support such load of applications. The success of various cloud services such as SaaS, PaaS, and IaaS and the proliferation of IoT have pushed the new computing paradigm towards edge analytics. Edge analytics collects and analyse data with support of sensors, and network switch and helps companies in setting parameters for operations and decision making process.

The major growth driver of Edge analytics Market includes proliferation of data traffic through connected devices, high adoption of cloud based services. However, high price of equipment, complex features and requirement of sophisticated maintenance are some of the major factor hindering the growth of Edge analytics Market

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Segmentation:

The global level analysis of the global edge analytics market under segmentation is conducted through the component, type, deployment, business application and vertical.

In terms of component segment, the market has included system integration and deployment, consulting services, services, solutions, training, support and maintenance services.

In terms of type segment, the market has included diagnostic analytics, predictive analytics, descriptive analytics and prescriptive analytics.

In terms of deployment, the market has included cloud and on-premise.

In terms of Business Application, the market has included finance, sales, human resource, marketing and operations.

In terms of vertical segment, the market has included Manufacturing, BFSI, healthcare, IT & telecommunication, retail, media & entertainment, government, travel & hospitality and others.

Regional Outlook

The regional analysis of edge analytics market is being studied for regions such as North America, Asia Pacific, Europe and Rest of the World.

It has been observed that North America is probable to acquire the largest share of the market, The significant growth in edge analytics market in North America attributes to the technical advancements and well-established infrastructures in that region. The United States remains a well-known market for Edge Analytics, owing to escalating acceptance of edge analytics among small and medium-scale firms, supported by government regulations and compliance. Additionally, momentous growth of the edge analytics market can be attributed to the high concentration of manufacturing and telecommunication industries that majorly adopt edge analytics services. The demand for edge analytics is directly related to cloud traffic. Due to the enormous increase in cloud traffic, significant growth in the market can be observed.

Whereas Asia-Pacific also might inflate at the fastest rate during the forecast period.

Top Players

The essential players in edge analytics market are – Analytic Edge (India), Oracle Corporation (U.S.), Cisco Corporation (U.S.), SAS Institute (U.S.), SAP SE (Germany), AGT International Inc. (Switzerland), Apigee Corporation (U.S.), CGI Group Inc. (Canada), Foghorn Systems (U.S.), Prism Tech (U.K.) and among others.

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