Global Edge Analytics Market to Reach $25.4 Billion by 2026

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Jul 01, 2021, 10:05 ET

SAN FRANCISCO, July 1, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Edge Analytics - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 8; Released: May 2021
Executive Engagements: 63444
Companies: 183 - Players covered include AGT International Inc.; Analytic Edge; CGI Group Inc.; Cisco Corporation; Dell Inc.; Equinix, Inc.; Foghorn Systems; Greenwave Systems, Inc; HP Inc.; IBM Corporation; Intel Corporation; Microsoft Corporation; Oracle Corporation; SAP SE; SAS Institute and Others.
Coverage: All major geographies and key segments
Segments: Component (Solutions, Services); Type (Predictive Analytics, Diagnostic Analytics, Prescriptive Analytics, Descriptive Analytics); Vertical (IT & Telecom, BFSI, Transportation & Logistics, Manufacturing, Retail & Consumer Goods, Energy & Utility, Other Verticals)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Rest of World.

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ABSTRACT-

Global Edge Analytics Market to Reach $25.4 Billion by 2026

Edge analytics is an advanced technique of data analysis that provides access to users to real-time extraction and processing of unstructured data that is captured as well as stored on network devices' edge. Edge analytics ensures automatic, real-time analytical computation of data without sending the data to the centralized data server or store. The availability of connected IoT devices in the market is boosting the demand of edge analytics in IoT due to huge generation of decentralized data by connected devices. In the industrial IoT market, sectors making use of edge computing are likely to experience further expansion owing to edge analytics' advantages of distributed aggregation. Cloud providers across the globe are increasingly employing edge analytics to connected devices and their networks. Google, for instance, is extending the company's Cloud IoT software platform to edge networking. New generation of data analytical tools have the potential to unleash even bigger value, making analytics the next frontier for innovation, competition, productivity and smart decision making. A growing number of companies are embarking on the journey towards building a big data environment to bring together large number of disparate datasets. Poised to benefit in this regard is Edge analytics which involves pushing computation closer to these edge devices to generate valuable insights based on real-time data.

Amid the COVID-19 crisis, the global market for Edge Analytics estimated at US$5.5 Billion in the year 2020, is projected to reach a revised size of US$25.4 Billion by 2026, growing at a CAGR of 28.2% over the analysis period. Solutions, one of the segments analyzed in the report, is projected to record 26.7% CAGR and reach US$22.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Services segment is readjusted to a revised 32.9% CAGR for the next 7-year period. The need to effectively manage and analyze data streams from various smart city applications is driving the need for Edge solutions to improve emergency preparedness and provide greater situational awareness.

The U.S. Market is Estimated at $5.1 Billion in 2021, While China is Forecast to Reach $818.5 Million by 2026

The Edge Analytics market in the U.S. is estimated at US$5.1 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$818.5 Million by the year 2026 trailing a CAGR of 35.5% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 21.4% and 25.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 25.1% CAGR. The US continues to dominate the global market for edge analytics. Edge analytics is witnessing increasing adoption among small- to mid-sized companies in the US that can be partly attributed to government guidelines and the need for compliance. The country is also gaining from the presence of large number of manufacturers and telecommunication players that rely on edge analytics. In addition, increasing cloud traffic is poised to play a pivotal role in driving the market growth. More

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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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SOURCE Global Industry Analysts, Inc.