The growing demand for prescriptive analytics and the increasing adoption of IoT connected devices is driving the demand for the Edge Analytics market
Vancouver, Nov. 16, 2023 (GLOBE NEWSWIRE) — The global Edge Analytics Market is forecasted to be worth USD 131.31 Billion by 2032, according to a current analysis by Emergen Research. Over the forecasted timeframe, the market for Edge Analytics is anticipated to expand rapidly due to the growing demand for prescriptive analytics. Besides, increasing the adoption of IoT connected devices is anticipated to further boost market growth over the forecasted timeframe. Moreover, the rising prevalence of real-time data analysis is likely to augment the market shortly. Rather than transferring the information back to the centralized database server, Edge analytics executes automated analytical computing of the generated data in real-time.
Issues over the security and safety of organizations are expected to hinder the market growth over the forecasted timeframe.
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|The market size value in 2019||USD 4.80 Billion|
|CAGR (2023 – 2032)||31.31%|
|The revenue forecast in 2032||USD 33.65 Billion|
|Base year for estimation||2022|
|Forecast period||2023 – 2032|
|Quantitative units||Volume in Tons, Revenue in USD Thousand, and CAGR from 2023 to 2032|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Component, Type, Deployment, End-Use, and Region|
|Regional scope||North America; Europe; Asia Pacific; Central & South America; MEA|
|Country scope||U.S.; Canada; Mexico; U.K.; Germany; France; BENELUX; Italy; Spain; China; India; Japan; South Korea; Brazil; Saudi Arabia; South Africa; Turkey|
|Key companies profiled||AGT Group GmbH, CGI Group Inc., FogHorn Systems, Inc., Oracle Corporation, Apigee Corp., SAP SE, Falkonry Inc., Equinix, Inc., Intel Corporation, and Microsoft Corporation, among others|
|Customization scope||10 hrs of free customization and expert consultation|
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Major Companies and Competitive Landscape
The market for Edge Analytics is fragmented, with a significant number of large and medium-sized players, which account for a significant global share of the market. The key players of the market are well-equipped with significant manufacturing resources and are also engaged in various research and development activities.
Some of the top players in the Edge Analytics Market comprise:
- AGT Group GmbH
- CGI Group Inc.
- FogHorn Systems, Inc.
- Oracle Corporation
- Apigee Corp.
- SAP SE
- Falkonry Inc.
- Equinix, Inc.
- Intel Corporation
- Microsoft Corporation
In July 2020, Orions Digital Systems, Inc. was acquired by Microsoft Corporation. The acquisition of Orions Systems will assist Microsoft Dynamics linked Store to help evaluate personalized store environments. Unspecified features will also be added to the Microsoft Power Platform.
In May 2020, Moovit, a mobility-as-a-service solutions firm, has been acquired by Intel Corporation. Moovit ‘s acquisition will lead to the achievement of its strategy to be a total mobility supplier, including robotaxi facilities.
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Some Key Highlights from the Report
- In October 2020, Intel Corporation announced to acquire SigOpt, Inc. with this deal; Intel intends to utilize SigOpt’s tools to enhance and extend its Artificial intelligence solutions to users with its own Artificial intelligence hardware products.
- The segment of predictive analytics is expected to expand rapidly with a CAGR of 31.4%. It determines the probabilities of future results and results of particular activities and offers real-time analytical metrics and possible outcome portfolios.
- It is expected that the descriptive analytics segment will grow substantially over the forecasted period. Evaluations historical data at rest, analyzing information in the stream to provide real-time understanding of existing state operations to analyze historical outcomes and performance.
- Throughout the forecasted timeline, the manufacturing segment is expected to experience a fairly significant expansion. Manufacturers can use Edge analytics to ensure better control of machinery activity and production quality.
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Emergen Research has segmented the global Edge Analytics Market on the basis of component, type, deployment, end-use, and region:
- Component Outlook (Revenue, USD Billion; 2019-2032)
- Type Outlook (Revenue, USD Billion; 2019-2032)
- Prescriptive Analytics
- Descriptive Analytics
- Diagnostic Analytics
- Predictive Analytics
- Deployment Outlook (Revenue, USD Billion; 2019-2032)
- End-Use Outlook (Revenue, USD Billion; 2019-2032)
- Energy and Power
- Information Technology
- Regional Outlook (Revenue, USD Billion; 2019-2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
- North America
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