DUBLIN–(BUSINESS WIRE)–The “Global Edge Analytics Market Size, Share & Industry Trends Analysis Report By Component, By Type, By Organization Size, By Vertical, By Regional Outlook and Forecast, 2022 – 2028” report has been added to ResearchAndMarkets.com’s offering.
The Global Edge Analytics Market size is expected to reach $28.3 billion by 2028, rising at a market growth of 24.8% CAGR during the forecast period.
Edge analytics, a type of big data analytics, allows for real-time analysis of data created at the edge of network devices that is unstructured. Instead of transmitting data back to a centralized data storage or server, edge analytics performs real-time analytical computations on acquired data. Edge analytics is growing at a rapid pace around the world, owing to continuous developments in workplace performance enhancements and increased usage of the internet of things (IoT), all of which are propelling the edge analytics market forward. Additionally, its unique qualities, such as cost optimization and scalability, are propelling the industry forward.
Edge analytics is a method of data collecting and analysis in which an automated analytical calculation is done on data at the edge of a node, network switch, or any other network endpoint instead of waiting for data to be sent back to a centralized data repository. The edge analytics market is estimated to grow rapidly in the next few years, owing to increased internet and cloud penetration. Furthermore, increased demand for automation will have a positive impact on market growth. Increased network node efficiency is expected to provide lucrative prospects for the growth of the edge analytics market.
Edge analytics uses advanced analytics and machine learning at the site of data collection to help firms get more advanced data faster. It also increases yields, increases throughput, decreases downtime and improves efficiency. Because of the development and rapid spread of the Internet of Things (IoT) and the rapid growth in the availability of data through linked devices and real-time intelligence, it is becoming increasingly popular.
Market Growth Factors
Adoption Of Connected Devices And Surge In Demand For Prescriptive Analysis
Through the effective integration of data received from connected devices and networking equipment for increased real-time event analysis, organizations all over the world have focused on enhancing productivity and decreasing the maintenance of analytics systems. The market for data edge analytics solutions is expected to expand at a healthy rate throughout the forecast period, due to an increase in demand for real-time monitoring and prescriptive analytical modeling. This contributes to the growth of the edge analytics industry.
Edge Analytics Leads To Lowest Possible Latency
Edge analytics’ main benefit is that it reduces latency and, as a result, improves overall system performance. Furthermore, it enables users to respond to certain data points more quickly, such as shutting down an overheating jet engine, without needing to check in with a central procedure. Since data is calculated at the edge, it allows application developers to make use of local compute cycles, without incurring network latency. This allows developers to access data in real-time, rather than waiting for it to be uploaded to the cloud, for applications like predictive maintenance, machine learning, and OT management.
Market Restraining Factors
Loss Of Raw Data
The increased efficiency comes provided by edge analytics comes at a price. Only a small portion of the data will be processed and evaluated, with the results being sent via the internet. This essentially implies that raw data is eliminated, which means that some insights that could have been gained are lost. It’s important to think about the sort of device and how the data will be used. A retailer may determine that improving data efficiency is more important than sacrificing theoretical data insights, but an aircraft cannot make the same decision. Even if it is more inconvenient, collecting all raw data and analyzing it off-site is still the preferred strategy when safety is a concern.
Scope of the Study
Market Segments Covered in the Report:
By Organization Size
- Large Enterprises
- Small & Medium Enterprises
- IT & Telecom
- Energy & Utilities
- Retail, E-Commerce & Consumer Electronics
- Logistics & Transportation
- Healthcare & Life Sciences
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- IBM Corporation
- Cisco Systems, Inc.
- Intel Corporation
- Oracle Corporation
- Microsoft Corporation
- Dell Technologies, Inc.
- Hewlett-Packard Enterprise Company
- Equinix, Inc.
- Greenwave Systems, Inc.
- Iguazio Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/ihpb9f
Laura Wood, Senior Press Manager
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