Edge Analytics Market Zooms Towards Billion-Dollar Valuation: Estimated to Reach USD 67.29 Billion by 2030: Verified Market Research®

The "Global Edge Analytics Market Size By Component (Solution, Service), By Type (Descriptive Analytics, Predictive Analytics), By Business Application (Marketing, Sales, Operations), By Deployment Model (On-premises, On-cloud), By Vertical (Healthcare and Life Sciences, BFSI), By Geographic Scope & Forecast, 2023-2030" report has been published by Verified Market Research®. The report provides an in-depth analysis of the global Edge Analytics Market, including its growth prospects, market trends, and market challenges.

JERSEY CITY, N.J., June 14, 2023 /PRNewswire/ -- The Global Edge Analytics Market is projected to grow at a CAGR of 26.32% from 2023 to 2030, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 8.82 Billion in 2021 and is expected to reach USD 67.29 Billion by the end of the forecast period.

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Browse in-depth TOC on "Edge Analytics Market"

202 - Pages
126 – Tables
37 – Figures

Advanced Edge Analytics Market Experiences Rapid Expansion and Promising Growth Rates

The global Edge Analytics Market has witnessed remarkable growth in recent years, fueled by the adoption of advanced data analysis methods. Edge analytics enables users to access real-time processing and extraction of unstructured data captured and stored on network devices at the edge. By analyzing data at non-central components such as sensors, switches, and connected devices, insights are obtained closer to the source, revolutionizing data analysis in various industries.

Key Market Drivers:

• Increased adoption of connected devices, Internet of Things (IoT), and automation
• Growing popularity of predictive and real-time analytics for improved product offerings and customer service
• Automation and cost reduction through edge analytics
• Notable demand in B2B applications and industries requiring multiple solutions
• Mitigation of operational costs and improved performance with predictive maintenance

The Edge Analytics Market has experienced rapid expansion and substantial growth rates globally. With the surge in data generated by connected devices and IoT, the market has thrived, meeting the demands of industries seeking advanced analytics solutions. The utilization of predictive analytics and real-time insights has gained significant traction, enhancing product offerings and overall customer experience.

However, challenges related to data security and high costs remain obstacles for market growth. The absence of standardized practices also limits market expansion. Despite these challenges, edge analytics continues to gain momentum, particularly in B2B applications and industries that require multiple solutions for optimal performance.

The COVID-19 pandemic has further emphasized the need for digital technologies and remote operations. Organizations across the public and private sectors have prioritized investments in automation, cybersecurity, cloud computing, artificial intelligence, and the Internet of Things to ensure business continuity and flexibility. The shift from traditional office models to digital workplaces has accelerated, highlighting the importance of agility and resilience through real-time analytical insights.

The rise of remote work culture, increased virtual collaboration, and the growing demand for video streaming and online gaming have significantly impacted network traffic, necessitating the adoption of edge computing to meet evolving infrastructure requirements.

Market Outlook:

• North America holds the highest revenue share in the global Edge Analytics Market and is expected to maintain dominance.
• Europe is poised to witness significant revenue growth.
• The Asia Pacific region is projected to experience the highest revenue growth rate, driven by the adoption of connected devices, increasing digitization, and a rising demand for real-time analytics across various sectors.

Key Players:

Prominent companies in the Edge Analytics Market include Cisco Systems, Inc., Oracle Corporation, SAP SE, SAS Institute Inc., Apigee Corporation, Predixion Software, AGT International Inc., Foghorn Systems, CGI Group Inc., Analytic Edge, Prism Tech, Dell Inc., Equinix, Inc., Greenwave Systems, HP Inc., IBM Corporation, iguazio, Intel Corporation, and Microsoft Corporation.

For in-depth financial statements, product benchmarking, SWOT analysis, and key development strategies of these key players, industry stakeholders can refer to market research reports by trusted sources.

The future of the Edge Analytics Market looks promising, driven by technological advancements and increasing demands for real-time insights across diverse industries. To stay competitive, businesses are encouraged to embrace edge analytics and leverage its transformative capabilities.

Based on the research, Verified Market Research® has segmented the global Edge Analytics Market into Component, Type, Business Application, Deployment Model, Vertical, And Geography.

• Edge Analytics Market, by Component
• Solution
• Service
• Edge Analytics Market, by Type
• Descriptive analytics
• Predictive analytics
• Prescriptive analytics
• Diagnostic analytics
• Edge Analytics Market, by Business Application
• Marketing
• Sales
• Operations
• Finance
• Human Resources
• Edge Analytics Market, by Deployment Model
• On-premises
• On-cloud
• Edge Analytics Market, by Vertical
• Healthcare and Life Sciences
• BFSI
• Manufacturing
• Media and Entertainment
• Government and Defense
• Travel and Hospitality
• Others
• Edge Analytics Market, by Geography
• North America
• U.S
• Canada
• Mexico
• Europe
• Germany
• France
• U.K
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Rest of Asia Pacific
• ROW
• Middle East & Africa
• Latin America

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