Edge Analytics Market Size - By Component (Solution, Services), By Business Application (Marketing, Sales, Finance, Operations, Human Resource), By Type (Predictive, Prescriptive, Descriptive, Diagnostic), Deployment Model, Industry Vertical & Forecast, 2023 – 2032
Published Date: April - 2025 | Publisher: MRA | No of Pages: 240 | Industry: Media and IT | Format: Report available in PDF / Excel Format
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Hi there! I read some interesting facts and figures regarding the Edge Analytics Market. It's like the hipster of the tech world these days. In 2022, it was valued at around 8.7 billion dollars, and guess what? Experts are predicting that it's gonna skyrocket in the coming decade! They're forecasting it'll grow by roughly 24.2% annually until 2032. Why is this hipster growing so rapidly? Well, it's all due to the massive spike in IoT devices. You know, those intelligent devices like your phone and refrigerator that are perpetually connected to the internet. It's like a huge wave of devices that are churning out loads of data from all over the globe. And with increasingly more individuals going online, it's like a sea of information without end. Indeed, over 5 billion people across the globe are now surfing the internet, that's like two-thirds of the world!
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Edge analytics provides real-time processing and insights at the point of data generation, minimizing the requirement to transmit all data to central cloud servers. Edge analytics provides low-latency data processing, enabling organizations to obtain real-time insights from the data in real-time. This is a key feature for applications with timing constraints such as industrial automation, autonomous vehicles, and remote monitoring, leading to the growth of the edge analytics market.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Edge Analytics Market Size in 2022 | USD 8.7 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 24.2% |
| 2032 Value Projection | USD 75 Billion |
| Historical Data for | 2018 – 2022 |
| No. of Pages | 300 |
| Tables, Charts & Figures | 378 |
| Segments covered | Component, Business Application, Type, Deployment Model, Industry Vertical |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth opportunities in this market?
Surging interest in autonomous systems in a number of end-use verticals is driving the edge analytics industry globally. Edge analytics is pivotal for driving autonomous systems, including self-driving cars and drones, by facilitating rapid decision-making and minimizing cloud connectivity-based operation dependency. In this direction, in 2022, Intel revealed collaborating with BMW in developing edge computing technology to be used by autonomous cars. This technology would enable BMW cars to analyze and process data locally, lessening latency and enhancing safety.
Yet, data security and privacy concerns at the edge, along with edge device management and integration complexities for heterogeneous edge devices, might influence edge analytics market dynamics in the long term. Furthermore, constraints in edge device processing power and storage facilities and the requirement for standard frameworks to provide interoperability across edge analytics solutions might detract from market growth during the coming decade.
COVID-19 Impact
The COVID-19 pandemic also had a profound effect on the edge analytics market. Due to lockdowns and restrictions preventing physical access to data centers, organizations began relying more on edge computing and analytics to process data near the source. The explosion of remote work and the necessity for real-time insights to drive supply chains, healthcare systems, and social distancing policies further propelled the use of edge analytics solutions. For example, in the healthcare industry, edge analytics was essential in tracking patient information, allowing remote diagnosis, and supporting telemedicine consultations during the pandemic.
Edge Analytics Market Trends
The advent of Industry 4.0 and intelligent manufacturing methods is likely to chisel a sound growth path for the edge analytics market. In Industry 4.0, edge analytics plays a crucial part in streamlining manufacturing processes, predictive maintenance, and enhancing overall operational efficiency. Edge analytics is being utilized by companies to make their production lines more efficient.
For example, in 2022, Bosch utilized edge analytics to enhance the efficiency of its production lines. The firm deployed edge devices on machines that gather data on temperature, pressure, and vibration. The data is analyzed in real-time to detect issues before they result in downtime, which allows the firm to cut unplanned outages by 20%. Furthermore, the increasing use of edge computing as a data processing paradigm for the network edge naturally fuels the need for edge analytics solutions.
Edge Analytics Market Analysis
Learn more about the key segments shaping this market
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The solution market controlled more than 70% of the edge analytics market share in 2022. One of the main reasons why there is increasing demand for edge analytics solutions is to cater to the need for real-time data analysis and processing. With more and more data being generated by IoT devices, edge analytics solutions can facilitate processing and analyzing such data at the network's edge, enhance response times, and lower latency. Another factor is the need for greater efficiency and cost reduction.
Edge analytics can assist organizations in streamlining their operations and lowering costs by recognizing areas of inefficiency and opportunity for improvement. For example, a manufacturing organization may utilize edge analytics to recognize equipment malfunctioning prior to downtime, and thereby minimize the requirement for expensive maintenance and repair.
Learn more about the key segments shaping this market
The IT & telecom industry held 20% market share in edge analytics in 2022, owing to the complexity of networks, the necessity for real-time monitoring and optimization, and the multiplicative growth of data from connected devices. Edge analytics allows telecom players to analyze and process network data near the source, resulting in lower latency and enhanced network performance. For example, edge analytics can assist with real-time monitoring of network traffic to detect anomalies and potential security risks early, improving overall network efficiency and dependability.
Looking for region specific data?
Edge analytics is a buzzword in North America, with more than 33% market share last year. It's the way of the future when it comes to data processing, providing us real-time information to make better decisions faster. The Internet of Things (IoT) is further increasing the significance of edge analytics. With all these devices being connected and creating data, we need to process it locally, near the source. This helps us reduce delays and take decisions at the time. For instance, in hospitals, edge analytics can monitor the health of patients and trigger an alarm if anything goes wrong. This allows doctors to detect issues early on and intervene in a split second.
Edge Analytics Market Share
Major companies operating in the edge analytics market are
- Amazon Web Services Inc
- Microsoft
- Cisco Systems Inc
- Hewlett Packard Enterprise Development LP
- Databricks
- Dell Statistica
- EdgeConneX
- Intel Corporation
- Oracle Corporation
- Predixion Software
- PTC
- SAP HANA
- SAS Institute Inc
- IBM Corporation.
These companies are focused on strategic partnerships to develop new solutions.
For instance, In April 2022, Hewlett Packard Enterprise and Maxis partnered to create Malaysia's first multi-access edge computing (MEC) solution for enterprises. The solution will use MEC to minimize connectivity problems and reduce data storage costs for businesses operating time-critical edge applications.
Edge Analytics Industry News
- In April 2022, Cisco and NetApp partnered to launch FlexPod XCS, an automated platform for modern applications, data, and hybrid cloud environments. FlexPod XCS is designed to help organizations move data and applications smoothly across hybrid cloud environments, from private data centers to the edge.
This edge analytics market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) from 2018 to 2032, for the following segments
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Market, By Component
- Solution
- Service
Market, By Business Application
- Marketing
- Sales
- Operations
- Finance
- Human resources
Market, By Deployment Model
- Cloud
- On-premises
Market, By Type
- Predictive analytics
- Descriptive analytics
- Prescriptive analytics
- Diagnostic analytics
Market, By Industry Vertical
- IT & telecom
- BFSI
- Manufacturing
- Healthcare and life science
- Retail
- Transportation and logistics
- Government
- Energy and utilities
- Others
The above information has been provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Asia Pacific
- China
- India
- Japan
- South Korea
- ANZ
- Latin America
- Brazil
- Mexico
- MEA
- South Africa
- UAE
- Saudi Arabia
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