ID: MRFR/ICT/2301-HCR | February 2021 | Region: Global | 100 pages
Edge Analytics means the process of capturing, analyzing, and monitoring the data of network devices like switches, routers, sensors, and switches. It is an alternative to data analytics, and it provides real-time data analysis of network devices. In edge analytics, the analytical computation is fine in real-time without waiting for the data to be received back at the centralized system and then process by the analytical applications. This technology has decreased the time in the decision-making, but also it has provided scalability.
Day by day, the need for technology is growing, and with that, the world needs technical advancement, and with it, the demand for edge analytical solutions is the reason behind the growth of edge analytics. Less cost and scalability are the two drivers of the Edge Analytics Market Share.
The Edge Analytics Market gives information about the new recent developments, market share, import and export analysis, trade regulations, production analysis, value chain optimization, market players, market size, and many more. The Edge Analytics Market is divided based on different types, business applications. Edge analytics helps businesses to get more advanced by providing faster analytics and machine learning at the time of data collection, and it improves efficiency. The Edge Analytics Market is growing due to the expansion of the Internet of Things.
The covid-19 pandemic has boosted the Edge Analytics Market Demand. This has been possible because there are so many people who were using the internet of things (loT) at this time. The covid-19 has brought disaster to so many business organizations, but the Edge Analytics Market wasn’t affected by it. Covid-19 has made people adopt technology and the Internet.
With the use of a traditional data warehouse model, it takes so much time, cost, and significant bandwidth to transfer all the data to a central repository and then extract the required insights to improve operations. But with the help of edge analytics, the retailers will be able to analyze the data in real-time. Businesses have huge Data that is generating from the Wi-Fi networks, sensors, apps, and cameras installed at their organizations. The produced data is unstructured, and it gives valuable information. So, most businesses are using edge analytics to have a better experience and give better performance. The use of edge analytics in so many fields is one of the reasons behind the edge analytics market. Starting from small businesses to big businesses, everyone is using edge analytics to get better and faster results at a low cost.
The Key Drivers are of the Edge Analytics Market:
The drivers of the key reasons behind the growth of the Edge Analytics Market and one of the drivers are the advancement of technology and adaptation of loT. Nowadays, the use of loT has increased a lot, and with that, the need for edge analytics has also increased, and it one of the major drivers. The predictive and real-time intelligence on network devices is also a key driver to the Edge Analytics Market. The adoption of cost optimization and scalability is also one of the drivers of the Edge Analytics Market.
Restraints in the Edge Analytics Market:
The restraints in the Edge Analytics Market are the things that are affecting Edge Analytics Market Growth. And one of the major restraints is safety and security. As edge analytics is dealing with data analysis, there is a question arises about the safety and security of the data and become a restraint in the Edge Analytics Market. And another restraint is the lack of advancement of technology in all areas. As many of the places in the world haven’t reached the standard place to use such technology, it becomes one of the reasons behind the Edge Analytics Market restraints.
Challenges in the Edge Analytics Market:
There are many challenges the Edge Analytics Market face, and one of the challenges is to motivate companies to invest in new technologies. Many companies are scared to invest in an area they don’t have any idea about, so it becomes a challenge to make them understand. And another challenge is the infrastructural constraints.
Opportunities for the Edge Analytics Market:
There are many Edge Analytics Market Opportunities, such as the increasing demand for more edge analytical solutions across so many business organizations. The increasing demand for edge analytics is boosting edge analytics. Also, the growing adoption of new technologies such as loT, natural language processing, machine learning, and computing, etc.) creating opportunities for the market. Edge operation cost and faster performance are creating opportunities for the edge analytics market.
Cumulative Growth of Edge Analytics Market:
As per the Edge Analytics Market Growth is concerned the key players are helping to increase the market to meet the demand for edge analytics across the market. Edge Analytics Market Key Players have understood the importance of the Edge Analytics Market and its demand. The Edge Analytics Market Size is growing day by day, and it is expected to grow more in upcoming years.
Value Chain Analysis:
The Edge Analytics Market Revenue is expected to grow at a CAGR of 31% in the Edge Analytics Market Forecast period of 2021-2027, and it is expected to grow approximately $11 billion by 2023. The growing demand for edge analytics is boosting the growth.
Edge Analytics Market
The segmentation of the Edge Analytics Market is on the following basis:
By Business Application:
The regional analysis is a part of studies in the regions such as North America, Europe, Asia Pacific, and the rest of the world. North America is responsible for the largest Edge Analytics Market Share. North America remains a good market for edge analytics with the increasing acceptance of edge analytics among all the small and medium firms supported by the government. The growth of the edge analytics market can be attributed to the high concentration of manufacturing and telecommunication industries that use edge analytics. The demand for the edge analytics market is connected with cloud traffic, and due to a huge increase in cloud traffic, significant growth in the market can be seen. North American companies and changing their way to utilize cloud computing. The cloud operation cost can be reduced by using a distributed edge computing architecture. The Asia Pacific is expected to grow at the fastest rate at the time of the forecast period.
Competitive Landscape Analysis:
The Edge Analytics Market is extremely competitive with the key players. The Edge Analytics Market Key Players are contributing highly to the market. Some of the key players are
These are the edge analytics market key players AGT International Inc. (Switzerland), Cisco Corporation (U.S.), SAS Institute (U.S.), Oracle Corporation (U.S.), SAP SE (Germany), Foghorn Systems (U.S.), Apigee Corporation (U.S.), and among them cisco corporation (U, S) is contributing largely to the market.
In March 2019, NTT data selected its lightning software to deliver on-premise real-time analytics and AI to their industrial clients, and it was announced by FogHorn. The NTT data gives deep expertise and loT consulting and integration services that are used by FogHorn in the manufacturing and energy industries.
The SAS institute launched SAS analytics for loT that helps analyze a large amount of data generated from loT sensors and devices. The analytics software can analyze moving data and draw insights in real-time to make sure smooth operations.
|Market Size||USD 11 Billion (2023)|
|CAGR||31% (2021 - 2027)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Component, Deployment|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Cisco Corporation (U.S.), Oracle Corporation (U.S.), SAP SE (Germany), SAS Institute (U.S.), Apigee Corporation (U.S.), AGT International Inc. (Switzerland), Foghorn Systems (U.S.), CGI Group Inc. (Canada), Analytic Edge (India), Prism Tech (U.K.)|
|Key Market Opportunities||The increasing demand for edge analytics is boosting edge analytics. Also, the growing adoption of new technologies such as loT, natural language processing, machine learning, and computing, etc.) creating opportunities for the market.|
|Key Market Drivers||Low latency speeds of data transfer, advent of internet of things, and a growing ecosystem of connected devices are major drivers of the global edge analytics market.|
Frequently Asked Questions (FAQ) :
global edge analytics market valuation can touch USD 11 billion by 2023.
global edge analytics market is expected to grow at 31% CAGR from 2020 to 2027.
Low latency speeds of data transfer, advent of internet of things, and a growing ecosystem of connected devices are major drivers of the global edge analytics market.
Predictive analytics can lead in the global edge analytics market.
The surge in 4G and 5G communication networking technologies and IoT devices are likely to assist North America in sustaining its lead in the global edge analytics market.
Cisco Corporation, SAS Institute, Foghorn Systems, SAP SE, Prism Tech, AGT International Inc., Apigee Corporation, Oracle Corporation, Analytic Edge, and CGI Group Inc. are key players of the global edge analytics market.