Global Edge Analytics Market, By Component (Solutions and Services), Type (Descriptive Analytics, Predictive Analytics, Prescriptive Analytics and Diagnostic Analytics), Business Application (Marketing, Sales, Operations, Finance and Human Resources), Deployment Model (On-Premises and On-Cloud), Vertical (Healthcare and Life Sciences, Banking, Financial Services, and Insurance, Manufacturing, Retail and Consumer Goods, IT and Telecommunication, Transportation and Logistics, Media and Entertainment, Energy and Utility, Government and Defense, Travel and Hospitality and Others) – Industry Trends and Forecast to 2030.
Edge Analytics Market Analysis and Size
The rise in the demand of edge analytics in business-to-business (b2b) as compared to consumer applications is escalating the growth of edge analytics market. Major factors that are expected to boost the growth of the edge analytics market in the forecast period are the arrival of IoT and proliferation of massive amount of data through connected devices. Furthermore, the predictive and real-time intelligence on network devices acts as a catalyst to the growth of edge analytics is further anticipated to propel the growth of the edge analytics market.
Data Bridge Market Research analyses that the edge analytics market which was USD 7,652.35 million in 2022, would rocket up to USD 47,290.43 million by 2030, and is expected to undergo a CAGR of 24.9% during the forecast period. This indicates that the market value. “Solutions” dominates the component segment of the edge analytics market owing to the high demand of this type in the market. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Edge Analytics Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Component (Solutions and Services), Type (Descriptive Analytics, Predictive Analytics, Prescriptive Analytics and Diagnostic Analytics), Business Application (Marketing, Sales, Operations, Finance and Human Resources), Deployment Model (On-Premises and On-Cloud), Vertical (Healthcare and Life Sciences, Banking, Financial Services, and Insurance, Manufacturing, Retail and Consumer Goods, IT and Telecommunication, Transportation and Logistics, Media and Entertainment, Energy and Utility, Government and Defense, Travel and Hospitality and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Cisco (Germany), Oracle (U.K.), SAP SE (Netherlands), SAS Institute (U.S.), Apigee Corporation (Spain), Predixion Software (U.S.), AGT International Inc (U.S.), Foghorn Systems (U.K.), CGI Group Inc. (U.S.), Analytic Edge (U.K.), Prism Tech (France), Bit Stew Systems (Netherlands), Bright Wolf (U.S.), Camgian Microsystems (U.S.), EUROTECH (Japan), Kepware Technologies (U.S.), Flowthings.io (U.S.) among others
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Market Opportunities
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Market Definition
Analysis of data collected from a non-central point in a system which comprises of network switch, sensor or peripheral node is also called edge analytics. Big data analytics processing is approved in a centralized way with the help of central depository large, data centers or hadoop clusters.
Edge Analytics Market Dynamics
Drivers
- Significant Growth in Low Latency Requirement
With the rise of real-time applications such as autonomous vehicles and industrial automation, there is growing need for low latency data analysis. Edge analytics enables the processing of data closer to the source, reducing the time it takes to make decisions.
- The Growing Technological Advancements
The development of technologically advanced automation solutions and the integration of the Industrial Internet of Things (IIoT) and cloud-computing, are acting as other growth-inducing factors. These solutions offer improved support and monitoring of remote sites, cloud-based tracking, smart event processing and administration of unmanned operations.
Opportunities
- The Increase in the Data Privacy and Security
Edge analytics helps organizations keep sensitive data on-premises, reducing the risk of data breaches and ensuring compliance with data privacy regulations. This is especially critical in industries such as healthcare and finance.
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The Rising Automation Industry
The increasing adoption of the automation industry and various technological advancements associated with it has significantly contributed towards the growth of the global edge analytics market. Advances in automation, robotics, and RFID technology enable improving accuracy and reducing operational costs.
Restraints/Challenges
- Rising Competition
The edge analytics market is highly competitive, with numerous companies offering a wide range of products. This can make it challenging for new entrants or smaller companies to gain market share and establish a strong presence.
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High Cost Associated with Implementation
The cost of edge analytics is very high in the market. Automotive systems and payers face cost pressures, and there is a growing demand for cost-effective solutions. Manufacturers need to balance the development of innovative implants with affordability to meet market demands.
This edge analytics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the edge analytics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- In November 2022, IBM and Cisco made partnership in the edge analytics owing to bring some smarts from IBM's Watson platform to Cisco edge devices. IBM and Cisco Systems have worked out how to run components of IBM’s Watson IoT analytics on Cisco edge devices. This will bring more intelligence closer to where the action is, helping enterprises run things like factories and oil rigs more efficiently
Global Edge Analytics Market Scope
The edge analytics market is segmented on the basis of components, type, business applications, deployment model and vertical. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Components
- Solution
- Services
- Professional Services
- System Integration and Deployment
- Training
- Support, and Maintenance Services
- Consulting Services
- Managed Services
Type
- Descriptive Analytics
- Predictive Analytics
- Prescriptive Analytics
- Diagnostic Analytics
Business Applications
- Marketing
- Sales
- Operations
- Finance
- Human Resources
Deployment Model
- Premises
- On-Cloud
Vertical
- Healthcare and Life Sciences
- Banking
- Financial Services and Insurance
- Manufacturing
- Retail and Consumer Goods
- It and Telecommunication
- Transportation and Logistics
- Media and Entertainment
- Energy and Utility
- Government and Defense
- Travel and Hospitality
- Others
Edge Analytics Market Regional Analysis/Insights
The edge analytics market is analysed and market size insights and trends are provided by components, type, business applications, deployment model and vertical as referenced above.
The countries covered in the edge analytics market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
North America dominates the edge analytics market because of the strong base of automotive facilities, strong presence of major players in the market.
Asia-Pacific is expected to witness significant growth during the forecast period of 2023 to 2030 due to the increase in government initiatives to promote awareness, rise in automotive facilities, growing research activities in the region, availability of massive untapped markets, large population pool.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and up-stream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Edge Analytics Market Share Analysis
The edge analytics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the company's focus related to edge analytics market.
Some of the major players operating in the edge analytics market are:
- Cisco (Germany)
- Oracle (U.K.)
- SAP SE (Netherlands)
- SAS Institute (U.S.)
- Apigee Corporation (Spain)
- Predixion Software (U.S.)
- AGT International Inc (U.S.)
- Foghorn Systems (U.K.)
- CGI Group Inc. (U.S.)
- Analytic Edge (U.K.)
- Prism Tech (France)
- Bit Stew Systems (Netherlands)
- Bright Wolf (U.S.)
- Camgian Microsystems (U.S.)
- EUROTECH (Japan)
- Kepware Technologies (U.S.)
- Flowthings.io (U.S.)
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