Edge Analytics Industry Predicted to Garner 10.025 Million by 2023 – 29.2% CAGR Recorded

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Edge Analytics Industry

Edge Analytics Industry

increase in demand for edge analytics due to reliability, alarm monitoring, and active notifications are anticipated to drive the edge analytics Industry

PORTLAND, OR, UNITED STATES, November 10, 2021 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled Edge Analytics Industry by Solution, Type, Deployment Model, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global Edge Analytics Industry was valued at $ 1,726 million in 2016, and is projected to reach $ 10.025 million in 2023, with a compound annual growth of 29.2% between 2017 and 2023.

The manufacturing market in the vertical segment of the industry has witnessed a high demand in the global market for edge analysis in 2016 due to the increase in the intelligent automation process at the production site and the predictive analysis of the production cycle. . In addition, the reduction in investment in new hardware and the pay-as-you-go deployment model in cloud deployment is expected to drive market growth in the near future. Additionally, the transportation and energy and utility markets have seen increased adoption of edge analytics in various regions, due to strong demand for data management in edge analytics.

The North American Edge Analytics Industry was the world’s largest in 2016, due to growing demand for real-time analytics and cloud deployment. Global players are focused on innovating efficient analytical models to strengthen their product offerings. For example, in December 2015, HP Inc. announced the launch of an edge analytics solution to optimize the network’s IoT capabilities of connected devices. This strategic move is expected to expand the company’s presence in the IoT analytics market. Additionally, industry participants have focused on improving their edge analytics to ensure the proficiency and effectiveness of the edge analytics platform in other emerging markets such as Latin America, the Middle East, and Africa.

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Increased demand for intelligent transportation and video management services and increased ICT spending are expected to increase market penetration. Featured markets such as North America, Europe and Asia Pacific provide growth opportunities to the global Edge Analytics Industry. Additionally, growth in the adoption of real-time analytics solutions is anticipated to drive the growth of the Edge Analytics Industry in the near future.

North America was the largest contributor to revenue in 2016, accounting for about 49.7% of the overall market. Additionally, Asia-Pacific is projected to grow at the highest CAGR of 33.2% during the forecast period, driven by growth in the adoption of IoT devices in emerging countries such as China, South Korea, and Japan.

The key players described in the study are Cisco Systems, Inc., Dell Inc., Equinix, Inc., Greenwave Systems, HP Inc., IBM Corporation, iguazio, Intel Corporation, Microsoft Corporation, and Oracle Corporation. All of these players are involved in competitive strategies such as geographic expansion, mergers and acquisitions, product portfolio expansion, and partnering to increase the growth of the Edge Analytics Industry.

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Key Findings of the Edge Analytics Industry:

• The cloud deployment model accounted for the largest share of the global market in 2016, growing at a CAGR of 29.8% between 2017 and 2023.
• North America generated the highest revenues in 2016, valued at $ 856 millions.
• The services segment dominated the global Edge Analytics Industry, in terms of growth, during the forecast period.
• The United States dominated the global market in 2016. In addition, Canada, China, the United Kingdom, Australia, Japan and the other emerging markets are expected to provide significant opportunities for major players.

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About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, and researchers, and students at universities. With reports on more than 60,000 niche markets with data comprising of 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients’ requirements is complemented with analyst support and customization requests.

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Edge Analytics Industry Predicted to Garner 10.025 Million by 2023 - 29.2% CAGR Recorded 1

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