Report Description

Edge Analytics market is anticipated to grow at a CAGR of 28.15% through forecast Period 2048-2028.


Edge Analytics Market is driving on account of the increasing need for real-time insights with the growing surge for network devices in private sector. Edge analytics is a type of analytics that analyzes data at non-central parts of the system, such as sensors, switches, and different linked devices. The rising need for real-time insights, the growing government initiatives in ICT, increasing popularity of Internet of Things (IoT), Artificial Intelligence (AI), and cloud computing technologies along with the growth of IoT devices and rising adaptability for edge analytics is expected to fuel the expansion of edge analytics market. Edge analytics is becoming the foundational technology model for the small and medium enterprises for managing the increased data prevalence. Many enterprises are adopting edge analytics as a cost-effective solution to bolster the need to process enormous data, dark data in near real-time and providing automated resolution. With the rapid changes in regulatory frameworks, working habits and customer expectations, technology for real-time analysis is considered to be a growing area of investment for government and institutions as they streamline their operations. Additionally, the growth of the market is on account of the easy availability of IoT based edge analytics tools such as AWS IoT GreenGrass, IBM Watson IoT Edge Analytics, Microsoft Azure IoT Edge, Oracle Edge Analytics (OEA) and many more. Due to the continuous technological advancements, it has enabled several vendors to integrate traditional manufacturing and operation process in the past years. Technology has become the key enabler of excellence and businesses are rapidly implementing sensors and including smart devices, coupled with edge analytics systems, gradually allowing for speedier data analysis. The increasing attention to security regulations, rapid expansion in collaboration between national regulatory, and security institutions are further expected to boost the global edge analytics market in the forecast period.

 

Advent of Internet of Things (IoT) and Proliferation of Massive Amount of Data Through Connected Devices  

The massive adoption of edge analytics applications in the public as well as in the government institutions for data monitoring, surveillance, and other use case concerns have spurred the growth in edge analytics market globally. With the advent of IoT, businesses are integrating edge analytics with IoT and using them to monitor their production systems. IoT edge analytics is best suited for systems that require rapid data turnover to drive functionality, IoT systems that collect large amounts of data, and IoT devices that function off-network for remote deployment and data security reasons. Moreover, the enterprises of varied countries are integrating IoT based edge analytics solutions to collect the information locally without missing anything due to irregularity in communication links and reduction in the bandwidth cost. For instance, to address the challenge of deploying military drones in remote locations, government, security forces and other enterprises are adapting IoT edge analytics to get the real-time feedback effectively, allowing near-real solutions ensure a safe mission. This integration is technically helping drones reach the outside world via satellite communication. Furthermore, according to the International Data Corporation (IDC), there will be around 41.6 billion IoT devices in 2025, which are capable of generating 79.4 zettabytes (ZB) of data. Thus, the advent of IoT and proliferation of massive amount of data through connected devices are further allowing the implementation of edge analytics solutions, supporting the growth of the edge analytics market globally.

Surge in Demand for Prescriptive & Predictive Analytics in Private Sector

The increased demand for prescriptive as well as predictive analytics in the private sector such as consumer electronics, manufacturing, logistics is likely to drive the expansion of the edge analytics market over the forecast period. Predictive and prescriptive analytics are going and growing together like a bird of a feather. Post  the prediction of potential outcomes, the enterprises use prescriptive analytics to help control those outcomes, which are beneficial to the business in the longer run. It aids businesses identify the best course of action so that enterprises can achieve business goals like cost reduction, customer satisfaction, profitability, etc. For instance, prescriptive analytics solution like IBM Decision Optimization, is enabling accurate decision-making for complex problems by providing tools for building and deploying optimization models that are mathematical representations of business problems. As a result, these solutions are high in demand by the enterprises and are becoming more integrated into the private sector. Furthermore, the enterprises are exponentially concerned more for utilizing such enormous benefits of advanced solutions for removing underperforming channels, increasing their efficiency, managing risk management, building repeatable and scalable process and achieving higher agility. Thus, the rising demand for predictive and prescriptive analytics solutions is expected to grow the edge analytics market globally in the forecast period.

Low Latency and High Bandwidth Issues of Data Transfer Driving the Edge Analytics Market

The recent advancements in new technologies along with integration into the edge-computing world, has opened many possibilities for economic and societal growth for many organizations. As the increasing volume of data, with the adoption of numerous smart devices and internet services, are slowing down the requests and reducing the speed of processing significantly. Edge analytics is one of the trending emerging solutions which is offering the ability to process the data with exceptional speeds and are enabling enhanced experience at the user end, providing the flexibility for high bandwidth and low latency issues during the data transfer. For instance, as per the study, only 10% of the data generation have been created and processed by the edge in 2022. Further, it is predicted that nearly 75% of the data will be on edge by 2025, leaving the traditional data centers and cloud storage. Industries within financial and banking sectors are adopting edge solutions to process the banking algorithms, executing the process quicker, and increasing overall profits significantly. Furthermore, service providers such as media & entertainments industries are leveraging the benefits of high bandwidth and low latency capabilities to ensure a seamless streaming experience for viewers, thus enabling the adoption of edge solutions in various organizations and is propelling the growth of edge analytics market in the forecast period.


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Market Segmentation

The global edge analytics market is segmented into component, type, application, deployment mode, end-user, and region. Based on component, the market is segmented into solution and services. Based on type, the market is bifurcated into descriptive analytics, predictive analytics, prescriptive analytics and diagnostics analytics. Based on application, the market is categorized into marketing, sales, operations, finance, and human resources. By deployment mode type, the market is divided into on-premises and on-cloud. The end-user segment is further categorized into healthcare & life sciences, BFSI, retail & consumer goods, manufacturing, IT & telecommunication, transportation & logistics, media & entertainment, energy & utility, government & defence, travel & hospitality and others.

Market Player

Major market players in the global edge analytics market are IBM Corporation, Cisco Systems, Inc., Dell Inc., Equinix, Inc., Greenwave Systems, Hp Inc., Iguazio Ltd, Intel Corporation, Microsoft Corporation, Oracle Corporation.

Attribute

Details

Base Year

2022

Historic Data

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million and CAGR for 2018-2022 and 2024-2028

Report coverage

Revenue forecast, company share, growth factors, and trends

Segments covered

By Component

By Type

By Application

By Deployment Mode

By End-User

Regional scope

North America, Asia-Pacific, Europe, South America, Middle East

Country scope

United States, Canada, Mexico, China, India, Japan, South Korea, Australia, Singapore, Malaysia, Germany, United Kingdom, France, Italy, Spain, Brazil, Argentina, Colombia, Saudi Arabia, South Africa, UAE, Qatar

Key companies profiled

IBM Corporation, Cisco Systems, Inc., Dell Inc., Equinix, Inc., Greenwave Systems, Hp Inc., Iguazio Ltd, Intel Corporation, Microsoft Corporation, Oracle Corporation

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Report Scope:

In this report, the global edge analytics market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

            ·         Edge Analytics Market, By Component

o   Solution

o   Services

            ·         Edge Analytics Market, By Type

o   Descriptive Analytics

o   Predictive Analytics

o   Prescriptive Analytics

o   Diagnostics Analytics

            ·         Edge Analytics Market, By Application

o   Marketing

o   Sales

o   Operations

o   Finance

o   Human Resources

            ·         Edge Analytics Market, By Deployment Mode

o   On-Premises

o   On-Cloud

            ·         Edge Analytics Market, By End-User

o   Healthcare & Life Sciences

o   BFSI

o   Retail & Consumer Goods

o   Manufacturing

o   IT & Telecommunication

o   Transportation & Logistics

o   Media & Entertainment

o   Energy & Utility

o   Government & Defense

o   Travel & Hospitality

o   Other

            ·         Edge Analytics Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Asia-Pacific

§  China

§  Japan

§  South Korea

§  India

§  Australia

§  Singapore

§  Malaysia

o   Europe

§  United Kingdom

§  Germany

§  France

§  Italy

§  Spain

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East

§  UAE

§  Saudi Arabia

§  South Africa

§  Qatar

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Edge Analytics Market.

Available Customizations:

Global Edge Analytics Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

The Global Edge Analytics Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Service Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.2.3. Key Market Segmentations

2.    Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3.    Impact of COVID-19 on Global Edge Analytics Market

4.    Executive Summary

5.    Voice of Customers

5.1.     Brand Awareness

5.2.     Reasons for Adopting the Edge Analytics

5.3.     Major Challenges Faced

5.4.     Key Satisfaction Level

6.    Global Edge Analytics Market Outlook

6.1.     Market Size & Forecast

6.1.1.    By Value

6.2.     Market Share & Forecast

6.2.1.    By Component (Solution and Services)

6.2.2.    By Type (Descriptive Analytics, Predictive Analytics, Prescriptive Analytics and Diagnostics Analytics)

6.2.3.    By Application (Marketing, Sales, Operations, Finance, Human Resources)

6.2.4.    By Deployment Mode (On-Premises and On-Cloud)

6.2.5.    By End-User (Healthcare & Life Sciences, BFSI, Retail & Consumer Goods, Manufacturing, IT & Telecommunication, Transportation & Logistics, Media & Entertainment, Energy & Utility, Government & Defence, Travel & Hospitality and Other)

6.2.6.    By Region (North America, Europe, Asia-Pacific, South America, Middle East & Africa (MEA))

6.2.7.    By Company

6.3.     Market Map

7.    North America Edge Analytics Market Outlook

7.1.     Market Size & Forecast

7.1.1.    By Value

7.2.     Market Share & Forecast

7.2.1.    By Component

7.2.2.    By Type

7.2.3.    By Application

7.2.4.    By Deployment Mode

7.2.5.    By End-User

7.2.6.    By Country

7.3.     North America: Country Analysis

7.3.1.    United States Edge Analytics Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.           By Value

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.           By Component

7.3.1.2.2.           By Type

7.3.1.2.3.           By Application

7.3.1.2.4.           By Deployment Mode

7.3.1.2.5.           By End-User

7.3.2.    Canada Edge Analytics Market Outlook

7.3.2.1.        Market Size & Forecast

7.3.2.1.1.           By Value

7.3.2.2.        Market Share & Forecast

7.3.2.2.1.           By Component

7.3.2.2.2.           By Type

7.3.2.2.3.           By Application

7.3.2.2.4.           By Deployment Mode

7.3.2.2.5.           By End-User

7.3.3.    Mexico Edge Analytics Market Outlook

7.3.3.1.        Market Size & Forecast

7.3.3.1.1.           By Value

7.3.3.2.        Market Share & Forecast

7.3.3.2.1.           By Component

7.3.3.2.2.           By Type

7.3.3.2.3.           By Application

7.3.3.2.4.           By Deployment Mode

7.3.3.2.5.           By End-User

8.    Asia-Pacific Edge Analytics Market Outlook

8.1.     Market Size & Forecast

8.1.1.    By Value

8.2.     Market Share & Forecast

8.2.1.    By Component

8.2.2.    By Type

8.2.3.    By Application

8.2.4.    By Deployment Mode

8.2.5.    By End-User

8.2.6.    By Country

8.3.     Asia-Pacific: Country Analysis

8.3.1.    China Edge Analytics Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.           By Value 

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.           By Component

8.3.1.2.2.           By Type

8.3.1.2.3.           By Application

8.3.1.2.4.           By Deployment Mode

8.3.1.2.5.           By End-User

8.3.2.    Japan Edge Analytics Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.           By Value 

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.           By Component

8.3.2.2.2.           By Type

8.3.2.2.3.           By Application

8.3.2.2.4.           By Deployment Mode

8.3.2.2.5.           By End-User

8.3.3.    South Korea Edge Analytics Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.           By Value 

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.           By Component

8.3.3.2.2.           By Type

8.3.3.2.3.           By Application

8.3.3.2.4.           By Deployment Mode

8.3.3.2.5.           By End-User

8.3.4.    India Edge Analytics Market Outlook

8.3.4.1.        Market Size & Forecast

8.3.4.1.1.           By Value 

8.3.4.2.        Market Share & Forecast

8.3.4.2.1.           By Component

8.3.4.2.2.           By Type

8.3.4.2.3.           By Application

8.3.4.2.4.           By Deployment Mode

8.3.4.2.5.           By End-User

8.3.5.    Australia Edge Analytics Market Outlook

8.3.5.1.        Market Size & Forecast

8.3.5.1.1.           By Value 

8.3.5.2.        Market Share & Forecast

8.3.5.2.1.           By Component

8.3.5.2.2.           By Type

8.3.5.2.3.           By Application

8.3.5.2.4.           By Deployment Mode

8.3.5.2.5.           By End-User

9.    Europe Edge Analytics Market Outlook

9.1.     Market Size & Forecast

9.1.1.    By Component

9.1.2.    By Type

9.1.3.    By Application

9.1.4.    By Deployment Mode

9.1.5.    By End-User

9.1.6.    By Country

9.2.     Europe: Country Analysis

9.2.1.    United Kingdom Edge Analytics Market Outlook

9.2.1.1.        Market Size & Forecast

9.2.1.1.1.           By Value 

9.2.1.2.        Market Share & Forecast

9.2.1.2.1.           By Component

9.2.1.2.2.           By Type

9.2.1.2.3.           By Application

9.2.1.2.4.           By Deployment Mode

9.2.1.2.5.           By End-User

9.2.2.    Germany Edge Analytics Market Outlook

9.2.2.1.        Market Size & Forecast

9.2.2.1.1.           By Value

9.2.2.2.        Market Share & Forecast

9.2.2.2.1.           By Component

9.2.2.2.2.           By Type

9.2.2.2.3.           By Application

9.2.2.2.4.           By Deployment Mode

9.2.2.2.5.           By End-User

9.2.3.    France Edge Analytics Market Outlook

9.2.3.1.        Market Size & Forecast

9.2.3.1.1.           By Value 

9.2.3.2.        Market Share & Forecast

9.2.3.2.1.           By Component

9.2.3.2.2.           By Type

9.2.3.2.3.           By Application

9.2.3.2.4.           By Deployment Mode

9.2.3.2.5.           By End-User

9.2.4.    Italy Edge Analytics Market Outlook

9.2.4.1.        Market Size & Forecast

9.2.4.1.1.           By Value 

9.2.4.2.        Market Share & Forecast

9.2.4.2.1.           By Component

9.2.4.2.2.           By Type

9.2.4.2.3.           By Application

9.2.4.2.4.           By Deployment Mode

9.2.4.2.5.           By End-User

9.2.5.    Spain Edge Analytics Market Outlook

9.2.5.1.        Market Size & Forecast

9.2.5.1.1.           By Value 

9.2.5.2.        Market Share & Forecast

9.2.5.2.1.           By Component

9.2.5.2.2.           By Type

9.2.5.2.3.           By Application

9.2.5.2.4.           By Deployment Mode

9.2.5.2.5.           By End-User

10. South America Edge Analytics Market Outlook

10.1.  Market Size & Forecast

10.1.1. By Value

10.2.  Market Share & Forecast

10.2.1. By Component

10.2.2. By Type

10.2.3. By Application

10.2.4. By Deployment Mode

10.2.5. By End-User

10.2.6. By Country

10.3.  South America: Country Analysis

10.3.1. Brazil Edge Analytics Market Outlook

10.3.1.1.     Market Size & Forecast

10.3.1.1.1.         By Value 

10.3.1.2.     Market Share & Forecast

10.3.1.2.1.         By Component

10.3.1.2.2.         By Type

10.3.1.2.3.         By Application

10.3.1.2.4.         By Deployment Mode

10.3.1.2.5.         By End-User

10.3.2. Argentina Edge Analytics Market Outlook

10.3.2.1.     Market Size & Forecast

10.3.2.1.1.         By Value 

10.3.2.2.     Market Share & Forecast

10.3.2.2.1.         By Component

10.3.2.2.2.         By Type

10.3.2.2.3.         By Application

10.3.2.2.4.         By Deployment Mode

10.3.2.2.5.         By End-User

10.3.3. Colombia Edge Analytics Market Outlook

10.3.3.1.     Market Size & Forecast

10.3.3.1.1.         By Value 

10.3.3.2.     Market Share & Forecast

10.3.3.2.1.         By Component

10.3.3.2.2.         By Type

10.3.3.2.3.         By Application

10.3.3.2.4.         By Deployment Mode

10.3.3.2.5.         By End-User

11. Middle East & Africa Edge Analytics Market Outlook

11.1.  Market Size & Forecast

11.1.1. By Value

11.2.  Market Share & Forecast

11.2.1. By Component

11.2.2. By Type

11.2.3. By Application

11.2.4. By Deployment Mode

11.2.5. By End-User

11.2.6. By Country

11.3.  Middle East & Africa: Country Analysis

11.3.1. UAE Edge Analytics Market Outlook

11.3.1.1.     Market Size & Forecast

11.3.1.1.1.         By Value 

11.3.1.2.     Market Share & Forecast

11.3.1.2.1.         By Component

11.3.1.2.2.         By Type

11.3.1.2.3.         By Application

11.3.1.2.4.         By Deployment Mode

11.3.1.2.5.         By End-User

11.3.2. Saudi Arabia Edge Analytics Market Outlook

11.3.2.1.     Market Size & Forecast

11.3.2.1.1.         By Value

11.3.2.2.     Market Share & Forecast

11.3.2.2.1.         By Component

11.3.2.2.2.         By Type

11.3.2.2.3.         By Application

11.3.2.2.4.         By Deployment Mode

11.3.2.2.5.         By End-User

11.3.3. South Africa Edge Analytics Market Outlook

11.3.3.1.     Market Size & Forecast

11.3.3.1.1.         By Value

11.3.3.2.     Market Share & Forecast

11.3.3.2.1.         By Component

11.3.3.2.2.         By Type

11.3.3.2.3.         By Application

11.3.3.2.4.         By Deployment Mode

11.3.3.2.5.         By End-User

12. Market Dynamics

12.1.  Drivers

12.1.1. Advent of Internet of Things (IoT) and Proliferation of Massive Amount of Data Through Connected Devices 

12.1.2. Surge in Demand for Prescriptive & Predictive Analytics in Private Sector

12.1.3. Low latency Speeds of Data Transfer

12.2.  Challenges

12.2.1. Issues Pertaining to Safety and Security

12.2.2. Lack of Universally Accepted Standards

13. Market Trends & Developments

13.1.  Surge in Demand for Edge Analytics in Automotive Industry

13.2.  Increase in Demand and Emerging Edge Computing Technology

13.3.  Increasing Investment in R&D Programs

13.4.  Growing Business needs due to Covid-19 Driving Adoption

14. Mergers & Acquisitions/ Recent Development

15. Policy & Regulatory Framework

16. Company Profiles

16.1.  IBM Corporation

16.1.1. Business Overview

16.1.2. Key Revenue and Financials (If Available)

16.1.3. Recent Developments

16.1.4. Key Personnel

16.1.5. Key Product/Services

16.2.  Cisco Systems Inc.

16.2.1. Business Overview

16.2.2. Key Revenue and Financials (If Available)

16.2.3. Recent Developments

16.2.4. Key Personnel

16.2.5. Key Product/Services

16.3.  Dell Inc.

16.3.1. Business Overview

16.3.2. Key Revenue and Financials (If Available)

16.3.3. Recent Developments

16.3.4. Key Personnel

16.3.5. Key Product/Services

16.4.  Equinix Inc.

16.4.1. Business Overview

16.4.2. Key Revenue and Financials (If Available)

16.4.3. Recent Developments

16.4.4. Key Personnel

16.4.5. Key Product/Services

16.5.  Greenwave Systems

16.5.1. Business Overview

16.5.2. Key Revenue and Financials (If Available)

16.5.3. Recent Developments

16.5.4. Key Personnel

16.5.5. Key Product/Services

16.6.  HP Inc.

16.6.1. Business Overview

16.6.2. Key Revenue and Financials (If Available)

16.6.3. Recent Developments

16.6.4. Key Personnel

16.6.5. Key Product/Services

16.7.  Iguazio Ltd

16.7.1. Business Overview

16.7.2. Key Revenue and Financials (If Available)

16.7.3. Recent Developments

16.7.4. Key Personnel

16.7.5. Key Product/Services

16.8.  Intel Corporation

16.8.1. Business Overview

16.8.2. Key Revenue and Financials (If Available)

16.8.3. Recent Developments

16.8.4. Key Personnel

16.8.5. Key Product/Services

16.9.  Microsoft Corporation

16.9.1. Business Overview

16.9.2. Key Revenue and Financials (If Available)

16.9.3. Recent Developments

16.9.4. Key Personnel

16.9.5. Key Product/Services

16.10.  Oracle Corporation

16.10.1. Business Overview

16.10.2. Key Revenue and Financials (If Available)

16.10.3. Recent Developments

16.10.4. Key Personnel

16.10.5. Key Product/Services

17. Strategic Recommendations

17.1.   Dominating Market by Component

17.2.   Fastest Growing Market by Type

17.3.   Dominating Market by Region

18. About Us & Disclaimer

(Note: The companies list can be customized based on the client requirements.)

Figures and Tables

Frequently asked questions

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The term "edge analytics" refers to a technique for performing analytics at non-central parts of the system, such as sensors, switches, and different linked devices.

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Asia Pacific is the fastest-growing region in the edge analytics market, owing to rising investment in R&D facilities, growing adoption of advance technologies, and the increasing focus of SMEs and large enterprises offering to enhance their business operations.

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The Edge Analytics aggregates large-scale real-time data analysis and reduces the operational costs, minimizes needed bandwidth, and reduces resources spent on data analysis.

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IBM Corporation, Cisco Systems, Inc., Dell Inc., Equinix, Inc., Greenwave Systems, Hp Inc., Iguazio Ltd, Intel Corporation, Microsoft Corporation, and Oracle Corporation are the major players in the global edge analytics market.

profile

Sakshi Bajaal

Business Consultant
Press Release

Edge Analytics Market to be Dominated by the Surge in Demand for Predictive and Prescriptive Analytics Across the Globe Through 2028

May, 2023

The advent of Internet of Things (IoT) and proliferation of massive amount of data through connected devices are factors expected to drive the Global Edge Analytics Market during the forecast period