The Edge Analytics Market is expected to be valued at USD 33.65 Billion in 2027 from USD 4.80 Billion in 2019, registering a CAGR of 31.3% through the forecast period. The growth of the edge analytics market is predominantly propelled by the growing need to implement real-time intelligence solutions on network devices. The accelerated adoption of IoT connected devices is further adding to the market growth. The increasing demand for prescriptive analytics is adding traction to the development of the edge analytics market.
The government’s growing initiatives to boost the growth of Information and Communication Technology can potentially augment the demand for edge analytics, thereby driving the market growth. Moreover, the emergence of the COVID-19 pandemic has altered the technology sector, directly impacting the value chain of electronics and the availability of raw materials. The disruption has intensified the remote work with an increasing focus on the analysis and de-risking the end-to-end value chain. This has augmented the need for edge analytics, thereby driving the market growth.
However, the shortage of standardization of solutions and their applications and the growing concerns surrounding the safety and security of organizations is projected to retrain the expansion of the industry during the projected timeframe.
Key Highlights from the Report:
- The Solution sub-segment is projected to occupy the largest share of the industry, expanding at a significantly high CAGR of 31.4%. Edge analytics prioritizes acceleration, decentralization, and optimization and avoids the traditional techniques for gathering colossal data sets. The collection method is relatively new and is intricately associated with the emergence of an innovative future of IoT platforms.
- The Prescriptive analytics sub-segment is predicted to command the market growth in the projected timeframe. This format of edge analytics offers proper guidance to an employee depending on the live streaming data or to automatically begin a procedure, contextualize live-stream events adhering to the current business requirements, and enhance the potential instruction based on an efficient prototype.
- The Energy & Power sub-segment is projected to dominate the growth of the industry over the estimated timeframe. The application of edge analytics in energy and power facilities such as hydropower stations and wind turbines can rapidly and efficiently detect real-time problems and mitigate production delays.
- North America is estimated to hold a leading position in the global market in the coming years due to the accelerated adoption of edge analytics by small- and medium-sized enterprises and the increasing encouragement for the same from the government through favorable government policies and regulations.
- Major companies in the industry include Intel Corporation, AGT Group GmbH, FogHorn Systems, Inc., Microsoft Corporation, Apigee Corp., CGI Group Inc., SAP SE, Equinix, Inc., Falkonry Inc., and Oracle Corporation, among others.
- Microsoft Corporation gained a controlling stake in ADRM Software in June 2020. The amalgamation of ADRM’s comprehensive industry prototypes with Microsoft Azure’s limitless storage and computation will enable the generation of an intelligent data pool wherein the data from various business sections can be rapidly and seamlessly harmonized.
For the purpose of this report, Emergen Research has segmented the Global Edge Analytics Market on the basis of component, type, deployment, end-use, and region:
Component Outlook (Revenue, USD Billion; 2017-2027)
Type Outlook (Revenue, USD Billion; 2017-2027)
- Prescriptive Analytics
- Diagnostic Analytics
- Descriptive Analytics
- Predictive Analytics
Deployment Outlook (Revenue, USD Billion; 2017-2027)
End-Use Outlook (Revenue, USD Billion; 2017-2027)
- Energy and Power
- Information Technology
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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