Global Industry Analysts Predicts the World Edge Analytics Market to Reach $25.4 Billion by 2026
SAN FRANCISCO, March 24, 2022 /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.
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Edition: 9; Released: February 2022
Executive Pool: 63444
Companies: 139 - 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 US$25.4 Billion by the Year 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. IoT is registering strong growth across healthcare, manufacturing, retail, logistics and travel industries wherein data collection essays a key role in leveraging technology to address various business needs. 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. 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. Additionally, it also provides shop-floor data collection facilities to all industrial sectors. 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.
Amid the COVID-19 crisis, the global market for Edge Analytics estimated at US$10 Billion in the year 2022, 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 grow at a 26.7% CAGR to 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. This segment currently accounts for a 21.9% share of the global Edge Analytics market.
The U.S. Market is Estimated at $6.8 Billion in 2022, While China is Forecast to Reach $818.5 Million by 2026
The Edge Analytics market in the U.S. is estimated at US$6.8 Billion in the year 2022. The country currently accounts for a 66.58% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$818.5 Million in the year 2026 trailing a CAGR of 35.5% through 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 while Rest of European market (as defined in the study) will reach US$1.6 Billion by the end of the analysis period. 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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Phone: 1-408-528-9966
www.StrategyR.com
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