PUBLISHER: Grand View Research | PRODUCT CODE: 1301277
PUBLISHER: Grand View Research | PRODUCT CODE: 1301277
Edge Analytics Market Size, Share & Trends Analysis Report By Type (Descriptive Analytics, Diagnostics Analytics), By Component, By Deployment Model, By Application, By End Use Industry, By Region, And Segment Forecasts, 2023 - 2030
Edge Analytics Market Growth & Trends
The global edge analytics market size is estimated to reach USD 40.71 billion by 2030, registering a CAGR of 25.3% from 2023 to 2030, according to a new report by Grand View Research, Inc. Performing data analysis and processing on the edge devices themselves, robots can quickly respond to their environment without relying heavily on a centralized system. This approach offers real-time insights, reduced latency, improved security, and optimized bandwidth. With the rise of the Internet of Things and the increasing amount of data generated at the edge, edge analytics has gained significant attention. Many industrial organizations use the Internet of Things (IoT) to monitor manufacturing machinery, pipelines, and equipment.
IoT generates and stores data that might be challenging to manage and interpret in real time. The data from IoT devices is delivered into edge analytics to be processed and understood. Analytics algorithms assist humans in determining which data is required and which is unnecessary. In many applications and industries, timely decisions are crucial for achieving operational efficiency, ensuring safety, and delivering superior customer experiences. Certain applications, such as autonomous vehicles, industrial automation, and smart cities, demand real-time analytics capabilities.
Edge analytics enable immediate processing and decision-making at the edge, minimizing latency and enabling rapid responses. Moreover, industries such as drones and robotics heavily rely on real-time decision-making capabilities. These systems must process vast amounts of sensor data and respond instantaneously to changing environments and situations. Edge analytics enable the analysis and interpretation of sensor data at the edge, allowing these autonomous systems to make quick and accurate decisions without relying on centralized processing.
The increasingly vast amount of data from connected devices around the globe is driving market expansion, real-time intelligence acting as a catalyst for the growth of edge analytics on network devices and adopting edge analytics, enhancing scalability and cost optimization. Analytical computing is performed at the device's edge rather than waiting for data to be retrieved back at a centralized storage system and then imply analytical application. Furthermore, the manufacturing industry may make substantial use of edge analytics, for example, in smart production lines, pointing out manufacturing errors, packing, and so on in real-time. The IoT connects numerous devices and sensors that generate massive volumes of data in real-time; by applying the technology, this data can be processed and analyzed at the edge, enabling rapid decision-making and reducing the need to transmit all data to a central location. For example, in smart cities, it can help monitor and manage traffic patterns, energy consumption, and public safety in real-time.
In the manufacturing sector, it enables real-time monitoring and predictive maintenance of machines and equipment; by analyzing sensor data at the edge, manufacturers can identify potential failures, optimize maintenance schedules, and minimize downtime. It also plays a crucial role in healthcare by enabling real-time patient monitoring, remote diagnostics, and personalized treatment. Edge devices can analyze patient data, including vital signs and medical history, to provide timely insights for healthcare professionals. Retailers can leverage it for real-time inventory management, customer analytics, and personalized shopping experiences; by analyzing point-of-sale data, foot traffic patterns, and customer preferences at the edge, retailers can optimize inventory levels, enhance customer satisfaction, and offer targeted promotions.
North America will attain a larger market share in the edge analytics market; predictive analytics have importance in the region and will increase the adoption of edge analytics solutions with a higher concentration of industrial and telecommunication industries. With the rising connection of IoT devices, the regional market has seen a surge in the adoption rate of edge analytics solutions across all verticals. Implementation of edge analytics to keep better track of the health of equipment and output rate and prepare the manufacturing plant to deal with any last-minute problems in production.
Various regional industries have identified the potential benefits and implemented them in specific use cases. For example, it is used in manufacturing for predictive maintenance and quality control. These industry-specific applications have contributed to the growth of the edge analytics market in the region. The region has specific regulations and standards such as data privacy laws and compliance requirements like the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA). It provides a solution to address data security and privacy concerns by processing sensitive data locally, thereby complying with regulatory requirements.
Edge Analytics provides the same capability as a traditional analytics tool, with the exception of where the analytics are conducted. The key distinction is that edge analytics programmers must run on edge devices that may be limited in storage, computing power, or connection. Digitization has been the driving force behind the most recent revolutions. Companies have long struggled with how to extract relevant insights from the millions of nodes of data created each day by IoT-connected devices. The amount of linked gadgets, from a smartwatch to a smart speaker, is increasing the volume of data to be mined. Many new technologies, like as AI and Big Data, have become indispensable for gathering insights.
North America will gain a larger market share in the edge analytics market due to an increase in the need for predictive analytics, which will increase the adoption of edge analytics solutions with a higher concentration of industrial and telecommunications industries. With the rise of IoT, there has been a surge in interest in edge analytics. For many firms, streaming data from different IoT sources produces a massive data repository that is challenging to manage.
Edge Analytics Market Report Highlights
- Predictive analytics has been a major force behind analytics, and it is presently being implemented at the network's edges to deliver analytics at the edge, allowing it to achieve a CAGR of 25.8% from 2023 to 2030
- Based on deployment mode, increasing adoption of cloud technology globally is contributing to the growth of the cloud deployment segment, allowing it to lead the edge analytics market with market share of more than 50.0% in 2022
- During the forecast period, the IT and telecommunications industry is predicted to have the greatest growth rate in the edge analytics market. The telecommunications business is rapidly introducing cutting-edge analytical solutions
- North America is expected to exceed a market share of 34.0% in 2022, expanding at a CAGR of more than 22% over the forecast period owing to the technological advancements in field of robotics, artificial intelligence, predictive analysis and connected automotive among others
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Market Segmentation & Scope
- 1.2 Market Definitions
- 1.3 Information Procurement
- 1.3.1 Information Analysis
- 1.3.2 Market Formulation & Data Visualization
- 1.3.3 Data Validation & Publishing
- 1.4 Research Scope And Assumptions
- 1.4.1 List To Data Sources
Chapter 2 Executive Summary
- 2.1 Edge Analytics Market Snapshot
- 2.2 Edge Analytics - Segment Snapshot (1/2)
- 2.3 Edge Analytics - Segment Snapshot (2/2)
- 2.4 Edge Analytics - Competitive Landscape Snapshot
Chapter 3 Edge Analytics Market - Industry Outlook
- 3.1 Market Lineage Outlook
- 3.2 Value Chain Analysis
- 3.3 Market Dynamics
- 3.3.1 Market Driver Analysis
- 3.3.2 Market Restraint Analysis
- 3.3.3 Market Opportunity Analysis
- 3.3.4 Market Challenges Analysis
- 3.4 Industry Analysis Tools
- 3.4.1 Porter's Analysis
- 3.4.2 Macroeconomic Analysis
- 3.5 Edge Analytics Market - Technology Trends
- 3.5.1 Edge Ai And Machine Learning
- 3.5.2 Edge-To-Cloud Continuum
- 3.5.3 5g Connectivity
- 3.5.4 Edge Computing Infrastructure
- 3.5.5 Edge Security
- 3.5.6 Federated Learning
- 3.6 Edge Analytics Market - Covid-19 Impact Analysis
Chapter 4 Edge Analytics Market: Type Estimates & Trend Analysis
- 4.1 Type Movement Analysis & Market Share, 2022 & 2030
- 4.2 Edge Analytics Market Estimates & Forecast, By Type (USD Million)
- 4.2.1 Descriptive Analytics
- 4.2.2 Diagnostic Analytics
- 4.2.3 Predictive Analytics
- 4.2.4 Perspective Analytics
Chapter 5 Edge Analytics Market: Component Estimates & Trend Analysis
- 5.1 Component Movement Analysis & Market Share, 2022 & 2030
- 5.2 Edge Analytics Market Estimates & Forecast, By Component (USD Million)
- 5.2.1 Solution
- 5.2.2 Services
Chapter 6 Edge Analytics Market: Deployment Mode Estimates & Trend Analysis
- 6.1 Deployment Mode Movement Analysis & Market Share, 2022 & 2030
- 6.2 Edge Analytics Market Estimates & Forecast, By Deployment Mode (USD Million)
- 6.2.1 On-Premises
- 6.2.2 Cloud
Chapter 7 Edge Analytics Market: Application Estimates & Trend Analysis
- 7.1 Application Movement Analysis & Market Share, 2022 & 2030
- 7.2 Edge Analytics Market Estimates & Forecast, By Application (USD Million)
- 7.2.1 Marketing And Sales
- 7.2.2 Operations
- 7.2.3 Finance
- 7.2.4 Human Resources
- 7.2.5 Others
Chapter 8 Edge Analytics Market: Industry Vertical Estimates & Trend Analysis
- 8.1 Industry Vertical Movement Analysis & Market Share, 2022 & 2030
- 8.2 Edge Analytics Market Estimates & Forecast, By Industry Vertical (USD Million)
- 8.2.1 It & Telecom
- 8.2.2 Bfsi
- 8.2.3 Manufacturing
- 8.2.4 Healthcare And Life Science
- 8.2.5 Retail
- 8.2.6 Transportation And Logistics
- 8.2.7 Government
- 8.2.8 Energy And Utilities
- 8.2.9 Others
Chapter 9 Regional Estimates & Trend Analysis
- 9.1 Edge Analytics Market: Regional Outlook
- 9.2 North America
- 9.2.1 North America Edge Analytics Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 9.2.2 U.S.
- 9.2.2.1 U.S. Edge Analytics Market Estimates & Forecasts, 2018 - 2030, (USD Million)
- 9.2.3 Canada
- 9.2.3.1 Canada Edge Analytics Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 9.3 Europe
- 9.3.1 Europe Edge Analytics Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 9.3.2 Germany
- 9.3.2.1 Germany Edge Analytics Market Estimates & Forecasts, 2018 - 2030, (USD Million)
- 9.3.3 Uk
- 9.3.3.1 Uk Edge Analytics Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 9.3.4 France
- 9.3.4.1 France Edge Analytics Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 9.3.5 Italy
- 9.3.5.1 Italy Edge Analytics Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 9.4 Asia Pacific
- 9.4.1 Asia Pacific Edge Analytics Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 9.4.2 China
- 9.4.2.1 China Edge Analytics Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 9.4.3 India
- 9.4.3.1 India Edge Analytics Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 9.4.4 Japan
- 9.4.4.1 Japan Edge Analytics Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 9.4.5 South Korea
- 9.4.5.1 South Korea Edge Analytics Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 9.5 Latin America
- 9.5.1 Latin America Edge Analytics Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 9.5.2 Brazil
- 9.5.2.1 Brazil Edge Analytics Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 9.5.3 Mexico
- 9.5.3.1 Mexico Edge Analytics Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 9.6 Middle East And Africa
- 9.6.1 Middle East And Africa Edge Analytics Market Estimates & Forecasts, 2018 - 2030, (USD Million)
- 9.6.2 Saudi Arabia
- 9.6.2.1 Saudi Arabia Edge Analytics Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 9.6.3 UAE
- 9.6.3.1 UAE Edge Analytics Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 9.6.4 South Africa
- 9.6.4.1 South Africa Edge Analytics Market Estimates & Forecasts, 2018 - 2030 (USD Million)
Chapter 10 Edge Analytics Market - Competitive Landscape
- 10.1 Key participants
- 10.1.1 AMAZON WEB SERVICES INC.
- 10.1.2 CISCO SYSTEMS INC.
- 10.1.3 DATABRICKS
- 10.1.4 DELL STATISTICA
- 10.1.5 EDGECONNEX INC.
- 10.1.6 HEWLETT PACKARD ENTERPRISE DEVELOPMENT LP
- 10.1.7 IBM CORPORATION
- 10.1.8 INTEL CORPORATION
- 10.1.9 MICROSOFT
- 10.1.10 ORACLE CORPORATION
- 10.1.11 PTC
- 10.1.12 SAP HANA
- 10.2 Recent Developments & Impact Analysis, By Key Market Participants
- 10.3 Company Categorization
- 10.4 Participant's Overview
- 10.5 Financial Performance
- 10.6 Product Benchmarking
- 10.7 Company Market Share Analysis, 2022
- 10.8 Company Heat Map Analysis
- 10.9 Strategy Mapping
- 10.9.1 Expansion
- 10.9.2 Mergers & Acquisition
- 10.9.3 Collaborations
- 10.9.4 New Product Launches
List of Tables
- Table 1 Edge analytics market - Key market driver impact
- Table 2 Edge analytics market - Key market restraint/challenges impact
- Table 3 Global Edge Analytics Market Revenue Estimates and Forecast, By Type, 2018 - 2030 (USD Million)
- Table 4 Global Edge Analytics Market Revenue Estimates and Forecast, By Component, 2018 - 2030 (USD Million)
- Table 5 Global Edge Analytics Market Revenue Estimates and Forecast, By Deployment Mode, 2018 - 2030 (USD Million)
- Table 6 Global Edge Analytics Market Revenue Estimates and Forecast, By Application, 2018 - 2030 (USD Million)
- Table 7 Global Edge Analytics Market Revenue Estimates and Forecast, By End - use Industry, 2018 - 2030 (USD Million)
- Table 8 Recent Developments & Impact Analysis, By Key Market Participants
- Table 9 Company Heat Map Analysis
- Table 10 Key Companies undergoing expansions
- Table 11 Key Companies involved in M&As
- Table 12 Key Companies undergoing collaborations
- Table 13 Key Companies launching new products
List of Figures
- Fig. 1 Edge Analytics Market Segmentation
- Fig. 2 Information Procurement
- Fig. 3 Data Analysis Models
- Fig. 4 Market Formulation And Validation
- Fig. 5 Data Validating & Publishing
- Fig. 6 Market Snapshot
- Fig. 7 Segment Snapshot (1/2)
- Fig. 8 Segment Snapshot (2/2)
- Fig. 9 Competitive Landscape Snapshot
- Fig. 10 Edge Analytics - Industry Value Chain Analysis
- Fig. 11 Market dynamics
- Fig. 12 Edge Analytics market: PORTER's Analysis
- Fig. 13 Edge Analytics market: PESTEL Analysis
- Fig. 14 Edge Analytics Market, by Type: Key Takeaways
- Fig. 15 Edge Analytics Market, by Type: Market Share, 2022 & 2030
- Fig. 16 Descriptive analytics market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 17 Diagnositc analytics market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 18 Predictive analytics market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 19 Perspective analytics market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 20 Edge Analytics Market, by Component: Key Takeaways
- Fig. 21 Edge Analytics Market, by Component: Market Share, 2022 & 2030
- Fig. 22 Solution market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 23 Services market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 24 Edge Analytics Market, by Deployment Mode: Key Takeaways
- Fig. 25 Edge Analytics Market, by Deployment Mode: Market Share, 2022 & 2030
- Fig. 26 On-premises market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 27 On-Cloud market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 28 Edge Analytics Market, by Application: Key Takeaways
- Fig. 29 Edge Analytics Market, by Application: Market Share, 2022 & 2030
- Fig. 30 Marketing and sales market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 31 Operations market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 32 Finance market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 33 Human resources market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 34 Others market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 35 Edge Analytics Market, by Industry Vertical: Key Takeaways
- Fig. 36 Edge Analytics Market, by Industry Vertical: Market Share, 2022 & 2030
- Fig. 37 IT & telecom market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 38 BFSI market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 39 Manufacturing market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 40 Healthcare and life science market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 41 Retail market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 42 Transportation and logisitcs market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 43 Government market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 44 Energy and utilities market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 45 Others market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 46 Edge Analytics Market Revenue By Region, 2022 & 2030 (USD Million)
- Fig. 47 Regional marketplace: Key takeaways
- Fig. 48 North America Edge Analytics market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 49 U.S. Edge Analytics market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 50 Canada Edge Analytics market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 51 Europe Edge Analytics market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 52 Germany Edge Analytics market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 53 UK Edge Analytics market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 54 France Edge Analytics market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 55 Italy Edge Analytics market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 56 Asia Pacific Edge Analytics market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 57 China Edge Analytics market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 58 India Edge Analytics market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 59 Japan Edge Analytics market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 60 South Korea Edge Analytics market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 61 Latin America Edge Analytics market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 62 Brazil Edge Analytics market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 63 Mexico Edge Analytics market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 64 MEA Edge Analytics market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 65 Saudi Arabia Edge Analytics market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 66 UAE Edge Analytics market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 67 South Africa Edge Analytics market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 68 Key Company Categorization
- Fig. 69 Company Marsket Share Analysis, 2022
- Fig. 70 Strategic framework
