Market
Highlights
The
global edge analytics market to
accomplish USD 11 Billion by 2027 at a pace of 31%, finds Market Research
Future in its latest reports. The expansion of the market would take place
between 2020 and 2027.
Some
IoT application would require short response time, some might involve private
data, or some applications might produce large amount of data which in return
would increase the load on the network. Cloud computing would not be very
efficient to support such load of applications. The success of various cloud
services such as SaaS, PaaS, and IaaS and the proliferation of IoT have pushed
the new computing paradigm towards edge analytics. Edge analytics collects and
analyse data with support of sensors, and network switch and helps companies in
setting parameters for operations and decision making process.
The major
growth driver of Edge analytics Market includes proliferation of data traffic
through connected devices, high adoption of cloud based services. However, high
price of equipment, complex features and requirement of sophisticated
maintenance are some of the major factor hindering the growth of Edge analytics
Market
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Segmentation:
The global level analysis of the global edge analytics market
under segmentation is conducted through the component, type, deployment,
business application and vertical.
In terms of component segment, the market has included system
integration and deployment, consulting services, services, solutions, training,
support and maintenance services.
In terms of type segment, the market has included diagnostic
analytics, predictive analytics, descriptive analytics and prescriptive
analytics.
In terms of deployment, the market has included cloud and
on-premise.
In terms of Business Application, the market has included finance,
sales, human resource, marketing and operations.
In terms of vertical segment, the market has included
Manufacturing, BFSI, healthcare, IT & telecommunication, retail, media
& entertainment, government, travel & hospitality and others.
Regional Outlook
The regional analysis of edge analytics market is being studied
for regions such as North America, Asia Pacific, Europe and Rest of the World.
It has been observed that North America is probable to acquire the
largest share of the market, The significant growth in edge analytics market in
North America attributes to the technical advancements and well-established
infrastructures in that region. The United States remains a well-known market
for Edge Analytics, owing to escalating acceptance of edge analytics among
small and medium-scale firms, supported by government regulations and
compliance. Additionally, momentous growth of the edge analytics market can be
attributed to the high concentration of manufacturing and telecommunication
industries that majorly adopt edge analytics services. The demand for edge
analytics is directly related to cloud traffic. Due to the enormous increase in
cloud traffic, significant growth in the market can be observed.
Whereas Asia-Pacific also might inflate at the fastest rate during
the forecast period.
Top Players
The essential players in edge analytics market are – Analytic Edge
(India), Oracle Corporation (U.S.), Cisco Corporation (U.S.), SAS Institute
(U.S.), SAP SE (Germany), AGT International Inc. (Switzerland), Apigee
Corporation (U.S.), CGI Group Inc. (Canada), Foghorn Systems (U.S.), Prism Tech
(U.K.) and among others.
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