Edge Analytics Market Highlights:
In this post-cloud era, with increasing IoT applications, it is being estimated that more than 50 billion things would be connected to internet by 2020. 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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Edge Analytics Market Competitive Analysis:
The leading market players operational in the global market as identified by MRFR are Oracle Corporation (U.S.), Cisco Corporation (U.S.), SAP SE (Germany), Apigee Corporation (U.S.), SAS Institute (U.S.), AGT International Inc. (Switzerland), CGI Group Inc. (Canada), Foghorn Systems (U.S.), Analytic Edge (India), Prism Tech (U.K.) among others.
Edge Analytics Market Segmental Analysis:
The Edge Analytics Market can be classified into 5 key segments as follows:
- Segmentation of the market, by Component, has been done into Solution and Services
- Segmentation by Type has been carried out into Descriptive analytics, predictive analytics, prescriptive analytics, and diagnostic analytics.
- Segmentation by Deployment consists of Cloud and on-premise.
- Segmentation by Business Application includes Marketing, Sales, Operations, Finance, and Human Resource
- Segmentation by Verticals covers BFSI, Manufacturing, Healthcare, Retail, IT & Telecommunication, Media & Entertainment, Travel & Hospitality, and Government. Edge analytics support organizations to get more advanced data faster by employing advanced analytics and machine learning at the point of data collection. Healthcare is another domain where a massive upsurge in the number of connected devices can be witnessed. The manufacturing industry can make extensive deployment of Edge analytics, for instance, in a smart production line.
Edge Analytics Market Regional Analysis:
The geographic analysis of the global edge analytics market has been carried out in four major regions, comprising the Asia Pacific, North America, Europe, and the rest of the world (the Middle East, and Africa Latin America).
North America, followed by Europe, has dominated the market in 2017 due to technological advancement in the data center and network architecture in the region. Furthermore, significant growth of the edge analytics market can be accrued to the high concentration of manufacturing and telecommunication industries that significantly adopt edge analytics services. The need for edge analytics is directly related to cloud traffic. Due to the massive increase in cloud traffic, significant growth in the market can be observed. Also, considerable growth in sensor technology can be witnessed in the region.
By merging the innovations of sensor technology with decreasing hardware costs, the edge-to-cloud paradigm can be established. The Asia Pacific is estimated to be the fastest-growing region due to growing cloud computing and big data analytics architecture market in the region. China is leading the edge analytics market in the Asia Pacific region due to the growing integration of industrialization and digitization in the country. The growing IoT market is also fuelling market growth in the region.
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