Global Edge Analytics Market Size, Share, Trends, & Growth Forecast Report – Segmented by Solution (Software and Service), by Type (Historical Analysis, Predictive Analysis, and Prescriptive Analytics), by Deployment Model (Cloud and On-Premise), and by Industry Vertical (Public Sector, Retail, Healthcare, IT & Telecom, Manufacturing, Energy & Utility, Transportation, and Others) & Region - Industry Forecast From 2024 to 2032

Updated On: June, 2024
ID: 10022
Pages: 150

Global Edge Analytics Market Size (2024 to 2032)

The global edge analytics market was valued at USD 9.20 billion in 2023. The global market is expected to expand from USD 12.20 billion in 2024 and USD 116.60 billion by 2032, growing at a CAGR of 32.6% during the forecast period.

Edge analysis is a means of data collection and interpretation in which a scheduled analytical calculation of data is performed on a sensor, network switch, or other device rather than waiting for the data to be returned to a centralized data warehouse.

Edge analysis is an essential companion option for big data analysis, offering analysis and breakdown of information created at the edge of system devices. Edge Analytics performs an automated logical calculation of the information collected over time instead of sending the information to the centralized data warehouse. Edge scans are speeding up the pace of digital disruption happening across the globe. Due to this approach to web development, information can be accessed through associated devices and continuous knowledge. Edge Analytics is considered one of the most essential developments on the Internet. It is the crucial balance between distributed computing and advanced computing. The beginnings and beginnings of the conceptual precursor and IoT, M2M, is the lifeblood of cloud platforms; they are also used as application agents. Smart frameworks have generally been based on the cloud level for your knowledge, and real devices have been opened in the same way. This alleged statement is shaking up as edge-level recording competition continues to provide faster scalability compared to the cloud level.

MARKET TRENDS

With a traditional data warehousing model, it takes a lot of bandwidth, time, and money to send all the data to a central repository and extract the information necessary to improve operations or customer interactions. Through state-of-the-art analytics, retailers will be able to analyze all kinds of data in real time and take advantage of fleeting opportunities to deliver highly relevant customer experiences and streamline operations, such as streamlining payments or Ensuring that items are in stock.

Retail is experiencing a large amount of data generated by in-store video cameras, in-store Wi-Fi networks, sensors, and data generated by applications. Much of the data produced is unstructured in nature, providing valuable information. Leading retailers use cutting edge analytics to deliver a better user experience and maximize store performance. From location analytics to driving engagement to understanding the buyer model, retail giants Target and Walmart, among others, are using network edge analytics to extract terabyte data.

Retailers can leverage data from a variety of sensors, including parking sensors, shopping cart tags, and store cameras. By applying intelligent analytics to data, they can predict payment terms and pre-emptively alert store managers when more records are needed to open or even automatically open records before customers get there. Render. It also helps retailers change their business model and reform their strategies to gain a major competitive advantage. The idea is not limited to targeting a group of audiences but to offering personalized solutions for all with the help of behavioral support.

MARKET DRIVERS

Edge Analytics performs an automatic analytical calculation of the collected data in real time instead of sending it back to the centralized data warehouse or server. Edge Analytics is growing dramatically around the world, fueled by constant advances in workplace performance improvements and the growing adoption of the Internet of Things (IoT), which is largely driving the growth of the analytics market worldwide.

Edge analytics helps companies get more advanced data faster by using advanced analytics and machine learning at the point of data collection. It also further increases yields, performance, downtime, and efficiency. It is growing in demand due to the emergence and expanding expansion of the Internet of Things (IoT) and the rapid growth in the availability of data through connected devices and real-time intelligence. The adoption of contour analysis increases scalability and cost optimization, which further drives the business.

MARKET RESTRAINTS

On the other hand, concerns like security issues and the lack of universally accepted standards are major limitations in the expansion of the global edge analytics market.

REPORT COVERAGE

REPORT METRIC

DETAILS

Market Size Available

2023 to 2032

Base Year

2023

Forecast Period

2024 to 2032

CAGR

32.6%

Segments Covered

By Solution, Deployment, Industry Vertical, Type, and Region

 

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

 

  Market Leaders Profiled

Dell Inc., Equinix, Greenwave Systems, HP Inc., Cisco Systems, Inc., IBM Corporation, Ignazio, Intel Corporation, Microsoft Corporation, Oracle Corporation, and Others.

 

REGIONAL ANALYSIS

The global edge analytics market is examined in Europe, North America, and Asia Pacific. The development of various related IoT devices and the high demand for advanced and real-time analytics are contributing to the market's development in Europe and North America. In addition, the Middle East, Africa, and Latin America are expected to take control, but development is expected to be stable in the coming years.

KEY PLAYERS IN THE GLOBAL EDGE ANALYTICS MARKET

The major global edge analytics market players are Dell Inc., Equinix, Inc., Greenwave Systems, HP Inc., Cisco Systems, Inc., IBM Corporation, Ignazio, Intel Corporation, Microsoft Corporation, and Oracle Corporation.

RECENT HAPPENINGS IN THE GLOBAL EDGE ANALYTICS MARKET

  • In May 2018, Wood and IBM collaborated to transform asset lifecycle management. This partnership should help create and offer new digital products and services that can increase the operational efficiency of customers in the energy and industrial markets. IBM's edge analysis suite helped with the transformation.
  • In March 2019, FogHorn announced that NTT Data selected its Lightning software to offer real-time AI and analytics to its industrial customers. NTT Data offers extensive IoT consulting and integration services and expertise that FogHorn uses in the manufacturing, telecom, and energy industries.

DETAILED SEGMENTATION OF THE GLOBAL EDGE ANALYTICS MARKET INCLUDED IN THIS REPORT

The global edge analytics market is divided based on solution, deployment model, industry vertical, type, and region.

By Solution                  

  • Software  
  • Service      

By Type                         

  • Historical Analysis 
  • Predictive Analysis               
  • Prescriptive Analytics         

 By Deployment Mode                            

  • On-Premise            
  • Cloud         

By Industry Vertical                 

  • Public Sector          
  • Retail         
  • IT & Telecom          
  • Healthcare              
  • Manufacturing      
  • Energy & Utility     
  • Transportation      

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • The Middle East and Africa

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Frequently Asked Questions

What are the key drivers of growth in the Edge Analytics Market?

The key drivers include the increasing adoption of IoT devices, the need for real-time decision-making, advancements in AI and machine learning technologies, and the growing volume of data generated by connected devices.

What role does AI play in edge analytics?

AI plays a crucial role in edge analytics by enabling advanced data processing capabilities at the edge. AI algorithms can analyze large volumes of data in real time, detect patterns, and make predictions, enhancing the efficiency and effectiveness of edge analytics solutions.

How are companies integrating edge analytics with cloud computing?

Companies are adopting a hybrid approach, where edge analytics processes real-time data at the edge, and less time-sensitive data is sent to the cloud for deeper, long-term analysis. This integration allows for efficient use of resources and improved overall system performance.

What are some emerging trends in the Edge Analytics Market?

Emerging trends include the integration of 5G technology to enhance data processing speeds, the use of edge analytics in autonomous vehicles, advancements in edge AI hardware, and the increasing adoption of edge analytics in remote and industrial IoT applications.

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