Market Size of Edge Analytics Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 13.88 Billion |
Market Size (2029) | USD 41.75 Billion |
CAGR (2024 - 2029) | 24.64 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Edge Analytics Market Analysis
The Edge Analytics Market size is estimated at USD 13.88 billion in 2024, and is expected to reach USD 41.75 billion by 2029, growing at a CAGR of 24.64% during the forecast period (2024-2029).
Edge Analytics is an emerging technology expected to ease the load on cloud servers as it is closer to the data source. Edge Analytics can analyze data in real-time, enabling higher dependencies on cloud services. Industries like Manufacturing, healthcare, and retail are expected to benefit the most from the real-time availability of processed data, enabling them to achieve higher efficiencies using real-time decision-making.
- Edge analytics is a data collecting and analysis strategy in which an automated analytical calculation is done on data at the edge of a node, network switch, or another network endpoint instead of waiting for the data to be relayed back to centralized data storage.
- An increase in internet and cloud adoption offers enormous prospects for the global edge analytics industry in the future. Moreover, the rising need for automation boosts the market growth.
- The proliferation of a large amount of data with the help of connected devices is driving the growth of the edge analytics market, with real-time intelligence acting as a catalyst for the growth of edge analytics on network devices and adopting edge analytics, increasing scalability and cost optimization.
- However, the lack of skilled personnel to install and manage edge-based solutions hinders market development. The increasing network node efficiency is predicted to provide lucrative prospects for advancing the edge analytics market size throughout the forecast year.
- The COVID-19 pandemic had a positive impact on the edge analytics market, which exhibited significant growth during the period, owing to remote working trends and employee unavailability during the period of COVID-19 lockdowns, which prompted the need for automation and IoT solutions during the period, assisting in the growth of the edge analytics market during the period. Post-pandemic also, the market is growing rapidly with the increased adoption of digitization technologies.
Edge Analytics Industry Segmentation
Edge analytics is a way to data collection and interpretation in which a programmed analytical computation is performed on data at a sensor, network switch or another device instead of waiting for the data to be sent back to a centralized data store.
The edge analytics market is segmented by deployment (on-premise, cloud), by component (solutions, services ( professional and managed services )), by end-user industry (BFSI manufacturing, it & telecommunication, healthcare, retail), by geography (North America(united states, Canada), Europe (United Kingdom, Germany, France, rest of Europe), Asia Pacific (Japan, China, India, rest of Asia Pacific), Latin America, middle east and Africa). The market sizes and forecasts are provided in terms of value in USD for all the above segments.
By Deployment Type | |
On-Premises | |
Cloud |
By Component | |
Solutions | |
Services (Professional and Managed Services) |
By End User Industry | |
Banking, Financial Services, and Insurance (BFSI) | |
IT and Telecommunication | |
Manufacturing | |
Healthcare | |
Retail | |
Other End-user Industry |
By Geography | ||||||
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Latin America | ||||||
Middle East and Africa |
Edge Analytics Market Size Summary
The edge analytics market is poised for significant growth, driven by the increasing need for real-time data processing and the rising adoption of IoT and connected devices. This technology enables data analysis at the source, reducing the reliance on centralized cloud storage and enhancing efficiency across various industries such as manufacturing, healthcare, and retail. The market's expansion is further fueled by the proliferation of data generated from these connected devices, which necessitates faster and more efficient data processing solutions. Despite challenges like the shortage of skilled personnel to manage edge-based solutions, the market is expected to benefit from advancements in network node efficiency and the growing demand for automation.
In North America, the edge analytics market is experiencing robust growth due to the high concentration of manufacturing and telecommunications industries, along with the increasing adoption of cloud services. The United States, in particular, is a key market, supported by government regulations and a strong focus on reducing cloud dependency through distributed edge computing architectures. Canada is also emerging as a significant player, with its early adoption of new technologies driving demand for edge analytics solutions. Major industry players like Cisco Systems, Oracle, and IBM are actively engaging in partnerships and innovations to enhance their offerings and maintain a competitive edge in this fragmented market.
Edge Analytics Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Attractiveness - Porter's Five Force Analysis
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1.2.1 Threat of New Entrants
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1.2.2 Bargaining Power of Buyers
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1.2.3 Bargaining Power of Suppliers
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1.2.4 Threat of Substitutes
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1.2.5 Intensity of Competitive Rivalry
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1.3 Technology Snapshot
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1.3.1 Descriptive Analytics
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1.3.2 Predictive Analytics
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1.3.3 Prescriptive Analytics
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1.3.4 Diagnostic Analytics
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1.4 Industry Value Chain Analysis
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1.5 Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Deployment Type
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2.1.1 On-Premises
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2.1.2 Cloud
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2.2 By Component
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2.2.1 Solutions
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2.2.2 Services (Professional and Managed Services)
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2.3 By End User Industry
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2.3.1 Banking, Financial Services, and Insurance (BFSI)
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2.3.2 IT and Telecommunication
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2.3.3 Manufacturing
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2.3.4 Healthcare
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2.3.5 Retail
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2.3.6 Other End-user Industry
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2.4 By Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.2 Europe
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2.4.2.1 United Kingdom
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2.4.2.2 Germany
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2.4.2.3 France
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2.4.2.4 Rest of Europe
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2.4.3 Asia Pacific
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2.4.3.1 Japan
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2.4.3.2 China
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2.4.3.3 India
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2.4.3.4 Rest of Asia Pacific
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2.4.4 Latin America
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2.4.5 Middle East and Africa
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Edge Analytics Market Size FAQs
How big is the Edge Analytics Market?
The Edge Analytics Market size is expected to reach USD 13.88 billion in 2024 and grow at a CAGR of 24.64% to reach USD 41.75 billion by 2029.
What is the current Edge Analytics Market size?
In 2024, the Edge Analytics Market size is expected to reach USD 13.88 billion.