Global Edge Analytics Market - Segmented by Deployment (On - Premise, On - Cloud), Type (Descriptive Analytics, Predictive Analytics, Prescriptive Analytics), Component (Solutions, Services - Professional and managed services), End Users and Region - Growth, Trends and Forecast (2018 - 2023)
Edge Analytics Market is expected to grow at a CAGR of over 30% during the forecast period (2018-2023). The market for Edge Analytics market is increasing at significant momentum across the world, thanks to the constant advancements of workplace performance enhancements and increase adoption of internet of things (IOT), which are driving the edge analytics market growth to the large extent. Edge analytics is an alternative to big data analytics. It provides real-time analysis of data generated on the edge of network devices. Edge analytics performs the automatic analytical computation of collected data in real time instead of sending the data back to the centralized data store.
Growing Demand for Edge Analytics - High Demands for IOT
The accelerated rise of large amounts of data generated which is need to be analyzed for valuable insights. Transferring such crucial data from their place of origination, which can be remote locations, via internet or Bluetooth, to cloud data centers for analysis can be slow and risky. This, in turn, can affect an organization's proper functioning.
Edge analytics help organizations to get more advanced data faster by applying advanced analytics and machine learning at the point of data collection. Also, it also boosts yields, increases throughput, reduces downtime, and improves efficiency. The proliferation of IoT and connected devices is expected to drive the edge analytics market. Increase of data due to the rise of the internet of thing (IoT) devices globally and increased threats to the enterprise network such as cyber-attacks and other security breaches are some of the reason For an instance a typical Formula One car carries 150-300 sensors and in an airline, the current Airbus A350 model has close to 6,000 sensors and generates 2.5 Tb of data per day- according to Data Science central’s.
As the demand for the edge analytics is directly related to the volume of big data, the more volume of big data around the globe, higher is the demand for edge analytics market.
North America the Largest Market in Terms of Global Share
The North America region is projected to have the largest growth in demand, during the forecast period (2018-2023), which provides a suitable environment for startups and SMEs, in terms of government regulations and compliance. Owing to this, enterprises are growing rapidly in this North America region and have a heavy demand for edge analytics. Therefore, the North American region is to have the highest market share in the edge computing market.
The major trends responsible for the growth of edge analytics market in the North American region include the growing number of devices and the dependency on IoT devices, the need for faster processing, the increase in cloud adoption, and pressure on networks. Additionally, significant growth owing to high concentration of manufacturing and telecommunication industries that majorly adopt edge analytics services. Therefore, proliferation of digital services and technological advancements coupled with early adoption of the latest technologies in various sectors such as healthcare & life sciences, transportation & logistics, consumer appliances are supplementing the growth of the region.
For an instance Cisco Systems and IBM, enter into a partnership for the new collaboration of analytics at the edge by combining the cognitive computing and analytics capabilities of the IBM Watson IoT Platform with Cisco's edge and fog analytics capabilities.
Key developments in Edge Analytics Market
March 2018 - FogHorn Systems announced its partnership with Google Cloud IOT Core to facilitate easier deploy for businesses and to manage their IOT solutions. This partnership represents the advanced step in the evolution of the industrial IoT, which will allow processing at the edge and additionally it applies the machine learning to connect it with the cloud.
May 2017 - FogHorn Systems extends series a funding for edge analytics and machine learning platform. Dell Technologies Capital and Saudi Aramco Energy Ventures (SAEV). The extended funding brings FogHorn’s total series a round to USD 15 million, excluding the conversion of USD 2.5 million in seed funding.
Oct 2017 - Dell Technologies introduced a new division which will focused on the development of Internet of Things products as well as a new IoT partner program as the market for edge computing and analytics. The company will invest USD 1 billion in its IoT initiative in the next three years, including into the new products and partner program.
Major Players: CISCO SYSTEMS, ORACLE CORPORATION, SAS INSTITUTE, IBM CORPORATION, APIGEE CORPORATION, PREDIXION SOFTWARE, AGT INTERNATIONAL INC, CGI GROUP INC, ANALYTIC EDGE, PRISM TECH, INTEL CORPORATION, GREENWAVE SYSTEMS, MICROSOFT CORPORATION, and FOGHORN SYSTEMS, amongst others.
Reasons to Purchase Edge Analytics Market Report
Provides latest insights into Global Edge Analytics Market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating technology in the market
The region that is expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares and strategies employed by the major market players
3 months analyst support along with the Market Estimate sheet (in Excel)
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