"Increased adoption of edge analytics due to its scalability and cost optimizations is one of the drivers for the edge analytics market"
The edge analytics market size is estimated to grow from USD 1.94 billion in 2016 to USD 7.96 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 32.6%. Advent of IoT and proliferation of massive amount of data through connected devices and the increased adoption of edge analytics due to its scalability and cost optimizations has fueled the growth of edge analytics. However, issues pertaining to safety and security and lack of universally accepted standards are acting as the restraining factors for the edge analytics market.
“Solutions is expected to be the fastest growing component in the edge analytics market”
An edge analytics solution are deployed on the edge of the network devices to get real-time analysis of the data generated and provides predictive, prescriptive, as well as diagnostic analysis to the data. The solutions are intended to meet interoperability challenges that arises due to multiple heterogeneous devices connected together and are integrated within the device enabling real time analysis and advance decision making capabilities. The software becomes the vital part of problem solving mechanism and often uses tools such as dashboard, data visualization, reporting, and self-service to highlight the data information and data significance.
“APAC is expected to have the highest growth rate in the edge analytics market by region”
APAC is estimated to grow at the highest CAGR during the forecast period. In APAC region, there is a tremendous demand for deployment of edge analytics technologies with advanced analytics solutions that provides comprehensive support and specialty in real-time access of data, facilitating enterprises to comprehend business scenario, and take quicker and faster decisions. Edge analytics will see higher adoption in the market as the government is trying to push the markets for IoT and cloud technologies. In India, the new government is promoting Digital India Programme with a vision to transform India into a digitally empowered society and knowledge economy. The companies operating in the APAC region will benefit from the flexible policies of the government as well as the expanding digital market that will have a huge impact on the business community.
In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted with key people. Break-up of profile of primary participants is as follows:
- By Company: Tier 1 – 17 %, Tier 2 –33% and Tier 3 – 50%
- By Designation: C level – 19%, Director level – 26%, Others – 55%
- By Region: North America – 60%, Europe – 10%, APAC – 30%
The edge analytics ecosystem comprises the following major vendors:
1. Cisco Corporation (U.S.)
2. Oracle Corporation (U.S.)
3. SAP SE (Germany)
4. SAS Institute (U.S.)
5. Apigee Corporation (U.S.)
6. Predixion Software (U.S.)
7. AGT International Inc. (Switzerland)
8. Foghorn Systems (U.S.)
9. CGI Group Inc. (Canada)
10. Analytic Edge (India)
11. Prism Tech (U.K.)
Scope of the Report
The report segments the edge analytics market on the basis of: component which includes solutions as well as services; analytics type such as predictive, prescriptive, diagnostic, and descriptive; business applications marketing, sales, operations, finance, and human resources; deployment models on-cloud and on–premise; verticals: healthcare & life sciences BFSI, retail & consumer goods, manufacturing, travel & hospitality, IT & telecommunication, media & entertainment, energy & utility, government & defense, transportation & logistics, and others; and region which includes North America, Europe, Asia–Pacific (APAC), Middle East & Africa (MEA), and Latin America.
Reason to buy the report
- To get a comprehensive overview of the global edge analytics market
- To gain wide ranging information about the top players in this market sphere, their product portfolios and key strategies adopted by them
- To gain insights of the major countries/regions in which the edge analytics market is flourishing in various industries