Global Edge Analytics Market Report and Forecast 2024-2032

Global Edge Analytics Market Outlook

The global edge analytics market size reached a value of around USD 10.75 billion in 2023. The market is further expected to grow at a CAGR of 25.6% between 2024 and 2032, reaching a value of around USD 83.31 billion by 2032.

Key Trends in the Market

Edge analytics is a data collection and analysis technique that performs automatic analytical calculations on data at the edge of a node, network switch, or other network endpoints rather than waiting for the data to be sent back to centralised data storage. It is commonly utilised for data collected from IoT (Internet of Things) sensors and smart devices.

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• The high concentration of the industrial and telecommunications sectors, as well as the growing adoption of edge analytics among small and medium-sized businesses as they heavily utilise edge analytics services, is contributing to the edge analytics market growth.

• An increasing number of industries are incorporating the use of edge analytics to improve their data collection and analysis capabilities, including healthcare, manufacturing, automation, and transportation, further bolstering the demand for edge analytics.

• Over the forecast period, the rising use of IoT-connected devices is expected to be one of the key edge analytics market trends driving the market growth. Additionally, it is anticipated that increasing initiatives of various governments in information and communication technology (ICT) will increase demand for edge analytics in the near future.

Global Edge Analytics Market Analysis

Based on component, the market is bifurcated into solution and services. By type, the edge analytics market segmentation is descriptive analytics, predictive analytics, prescriptive analytics, and diagnostic analytics. On the basis of business application, the market is divided into marketing, sales, operations, finance, and human resources. Based on deployment model, the market is segmented into on-premises and cloud. On the basis of industry vertical, the market is categorised into healthcare, energy, automation, agriculture, manufacturing, and transportation, among others. The regional markets for edge analytics are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model, along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global edge analytics market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.

• Cisco Systems, Inc

• Oracle Corporation

• SAP SE

• SAS Institute, Inc

• IBM Corporation

• Predixion Software

• Amazon Web Services, Inc.

• Hewlett Packard Enterprise

• Intel Corporation

• Microsoft Corporation

• Others

Global Edge Analytics Market Share by Business Application

Finance business applications are projected to witness significant growth in the market for edge analytics in the coming years, supported by the rising need for real-time analysis of data. Edge analytics can be used by financial institutions, especially traditional retail financial businesses, to enhance customer experience, save costs, and guarantee regulatory compliance. Financial institutions are increasingly adopting edge analytics to be able to instantly detect fraudulent or risky activities and act accordingly. Edge analytics further aids in the offering of personalised customer experiences to aid in building of long-term customer relations.

Global Edge Analytics Market Share by Industry Vertical

Based on industry vertical, energy is expected to account for a substantial share in the market for edge analytics. The demand for energy is growing at a rapid rate and edge analytics can identify defects in real-time, lower production delays and total costs, and improve field service operations by integrating them into systems like hydropower plants or wind turbines. Edge analytics helps energy companies estimate how much energy can be stored or delivered for later use, increasing the efficiency of the entire energy supply chain and enhancing energy delivery capabilities.

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Competitive Landscape

Cisco Systems, Inc, founded in 1984 and headquartered in California in the United States is an IT and networking company that specialises in the Internet of Things, switches, cybersecurity, and routers. The offerings of the company include hardware, software, and services that enable efficient network operation and quick access to information.

SAS Institute, Inc, a pioneer in business analytics software and services, was established in 1976 and has its headquarters in North Carolina, United States. The company's solution portfolio includes cloud, data management, advanced analytics solutions, fraud and security intelligence, marketing analytics, the Internet of Things (IoT), operationalising analytics, and risk management.

Intel Corporation, founded in 1968 and headquartered in California in the United States, is a market leader in the development of technology that changes the world and enhances people's lives. The product line of Intel includes microprocessors, microcontrollers, chipsets, graphic, embedded processors, flash memory, network, and conferencing solutions.

Other market players include Oracle Corporation, SAP SE, IBM Corporation, Predixion Software, Amazon Web Services, Inc., Hewlett Packard Enterprise, and Microsoft Corporation, among others.

Key Highlights of the Report