Edge Analytics Market Size to Grow at a CAGR of 24.9% | $47.4 Billion by 2030
WILMINGTON, DE, UNITED STATES, October 18, 2023 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Edge Analytics Market, by Component (Solution, Service), by Type (Descriptive Analytics, Predictive Analytics, Prescriptive Analytics), by Deployment Model (On-Premise, Cloud), by Industry Vertical (Retail, E-Commerce and Consumer Electronics, Energy and Utilities, Healthcare, Transportation and Logistics, IT and Telecom, Manufacturing, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030″
The edge analytics market was valued at $5.2 billion in 2020, and is estimated to reach $47.4 billion by 2030, growing at a CAGR of 24.9% from 2021 to 2030.
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Edge analytics is the extended version of an analytical solution that helps reduce data traffic in the network and enhances analytics capabilities such as historical, predictive, and prescriptive analytics. Through optimized data filtration from the connected devices, edge analytics first analyses data collected from the devices and forwards relevant data to the storage for further analysis of the collected data. Several industries, such as the public sector, manufacturing, retail, and others, have adopted edge analytics solutions to optimize their business operations through cost-effective and real-time analytics. Furthermore, growth in the number of connected devices in IoT and surge in demand for advanced and real-time analytics boost the growth of the global edge analytics market.
In addition, surge in the need for prescriptive analytical models positively impacts the growth of the market. However, no common platform for standardized software deployment and slow spending in underdeveloped nations hamper the market growth. On the contrary, increased adoption of the internet of things (IoT) is expected to offer remunerative opportunities for expansion of the market during the forecast period.
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Competitive Analysis:
The competitive environment of Edge Analytics Industry is further examined in the report. It includes details about the key players in the market’s strengths, product portfolio, Edge Analytics Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.
Key Players:
Cisco system Inc.
Dell Technologies Inc.
Equinix, Inc.
Greenwave Systems
Hewlett Packard Enterprise Development LP
IBM Corporation
Iguazio Ltd.
Intel Corporation
Microsoft Corporation
Oracle Corporation and Many More
Region wise, the edge analytics market size was dominated by North America in 2020 and is the home to major players offering advanced solutions in the edge analytics market. Oracle Corporation, a major player in the edge analytics industry in North America, has a strong presence in the region. Vendors in this market have come up with innovative data edge analytics solutions to cater to various operational and development demands among several industries such as transportation, healthcare, the public sector, and others.
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Edge analytics solutions can provide real-time data analysis by processing data collected by the connected devices or nodes, such as closed-circuit television (CCTV), sensors, and others, to optimize historical as well as predictive analysis. The global edge analytics market is expected to witness significant growth rate due to rise in information and communications technology (ICT) expenditure by the government of various developed and developing regions, including North America, Europe, and Asia-Pacific.
CHAPTER 1:INTRODUCTION
1.1.Report description
1.2.Key market segments
1.3.Key benefits to the stakeholders
1.4.Research Methodology
1.4.1.Secondary research
1.4.2.Primary research
1.4.3.Analyst tools and models
CHAPTER 2:EXECUTIVE SUMMARY
2.1.Key findings of the study
2.2.CXO Perspective
CHAPTER 3:MARKET OVERVIEW
3.1.Market definition and scope
3.2.Key findings
3.2.1.Top investment pockets
3.3.Porter’s five forces analysis
3.4.Top player positioning
3.5.Market dynamics
3.5.1.Drivers
3.5.2.Restraints
3.5.3.Opportunities
3.6.COVID-19 Impact Analysis on the market
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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