USD 6.9 billion
Edge Analytics Market Size, Share, Growth Analysis, By Type (Descriptive, Predictive), By Component, By Deployment, By Application, By End Use, By Region - Industry Forecast 2025-2032
Report ID:
SQMIG45E2277 |
Region:
Global |
Published Date: December, 2024
Pages:
196
|Tables:
148
|Figures:
79
Edge Analytics Market Insights
Edge Analytics Market size was valued at USD 14.76 Billion in 2023 and is poised to grow from USD 18.77 Billion in 2024 to USD 101.12 Billion by 2032, growing at a CAGR of 27.2% during the forecast period (2025-2032).
The massive expansion of internet of things devices, such as sensors and connected devices, has inevitably translated into a massive increase of data generated at the edge. IoT-connected devices are expected to be a major driver of market growth during the estimated time of the market. Edge analytics entail the process and analysis of data closer to its source. It allows organizations to develop useful insights within a short period and helps them come up with quick decisions. The increased government activities in information and communication technology are boosting the market for edge analytics. Governments are investing in smart cities to modernize urban infrastructure, enhance sustainability, and improve service delivery to the citizens. Governments worldwide are initiating smart city projects to upgrade urban infrastructure, enhance sustainability, and provide better services to citizens. There are various applications enabled by this service, such as real-time processing and analysis of data from disparate sources, including sensors, cameras, and other IoT devices. Edge computing and analytics have reached a tipping point for government agencies because of the increased capability and proliferation of IoT devices. The emergence of 5G network is also making is also increasing opportunities. 5G networks facilitate high-speed connectivity, which in turn leads to low latency and quick, real-time decision support and actions. Many production facilities are integrating and deploying IoT along with advanced edge analytics solutions to monitor their production systems. Real-time data processing and automated resolution are some of the prominent features of the analytics algo. The useful information from analytics helps organizations identify the right steps to take next and helps in business expansion.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
descriptive
Fastest Growth
prescriptive
Growth Rate
26.3% CAGR
Global Edge Analytics Market ($ Bn)
Country Share for North America Region (%)
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Edge Analytics Market Segmental Analysis
Global Edge Analytics Market is segmented by Type, Component, Deployment, Application, End Use and Region. Based on Type, the market is segmented into Descriptive, Diagnostic, Predictive, Prescriptive. Based on Component, the market is segmented into Software, Services. Based on Deployment, the market is segmented into On Premise, Cloud. Based on Application, the market is segmented into Marketing and Sales, Operations, Finance, Human Resource, Others. Based on End Use, the market is segmented into IT and Telecom, BFSI, Manufacturing, Healthcare, Retail, Transportation, Government, Energy and Power, Others. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Type
Based on type, the descriptive analytics segment is dominating the edge analytics market with the largest revenue. One of the essential sections in the edge analytics market is descriptive analytics, which helps to interpret past data to identify specific trends and developments. Descriptive analytics allows enterprises to extract proper meaning of real-time data that has been gathered at the edge of their networks. It also offers an immediate understanding of what has happened in the past. The acquisition of raw data and its transformation for the purposes of decision-making is possible due to this important section. Manufacturers, as well as professionals in the healthcare and retail sectors, benefit from descriptive analytics to optimize their operations, improve customer satisfaction levels, and make the best use of their resources. The effectiveness of edge analytics is based on the proximity of data processing to the source, which means that all the positive outcomes can be achieved faster than when relying on data from the centralized cloud systems.
Based on type, prescriptive analytics segments are witnessing the fastest growth. Prescriptive analytics models are designed to bring operations and data together to offer a roadmap which not only tells what to do, but also how to do it correctly the first time. It is a more advanced analytical solution that reduces the network’s analytics complexity and enhance analytics solutions by anticipating the tasks that must be done in the future. Prescriptive analytics leverage data analytics to analyse the data it would be collecting based on both historical and projected analysis and determines the corrective measures to be taken. Prescriptive analytics at the edge can mitigate compliance and privacy issues by analysing data locally. This will help in retaining the confidential data within the organization’s control and minimizes the necessity to be transmitted to the cloud or other systems. It helps in maintaining the data privacy, complying with the data protection regulations and earning customer trust.
Analysis by Deployment Type
Based on deployment type, the on-cloud segment is expected to dominate the edge analytics market with substantial market share. On-Cloud deployment refers to the way of adopting an application through different cloud hosting models, that is, PaaS, IaaS, and SaaS. It is an inclusive term that includes the process of planning the deployment, setting up, performing, and monitoring processes of cloud operations. It brings various advantages to a company, like a quicker, seamless application deployment, more robust platform expansion possibilities, lower spending, an enhanced business continuity, and more for companies. Also, companies can utilize the adaptable, scalable resources of cloud platforms to efficiently manage big data generated at the edges.
Based on deployment type, the on-premises segment is witnessing the fastest growth in the edge analytics market. This segment is increasing its pace of growth as there are some companies with legacy systems, and they are deeply integrated with the on-premises infrastructure. Moreover, cloud adoption can be complex and costly, thus, on-premises analytics is more feasible for these organizations. Also, it provides more control over data security and compliance for a firm with highly sensitive data. In some sectors like finance, healthcare, and for government organizations, data is so sensitive that it cannot be processed or analysed outside its premises. furthermore, in some regions and industries, data sovereignty laws require that data be processed only within the borders of the country. Thus, with on-premises deployment, companies can easily avoid third-party cloud storage or analytical cloud services. Finally, this service model provides more flexibility regarding the customization of hardware and software solutions.
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Edge Analytics Market Regional Insights
North America is dominating the edge analytics market with the largest market share. The largest market share was accounted for by North America. This can be attributed to the fact that the region is a home to numerous technology companies, startups, and research institutions that develop and adopt advanced analytics tools and techniques. Business in this region is also characterized by a culture for data-driven decision-making. Firms acknowledge the importance of analytics in gaining competitive advantage, running business smoothly, and understanding customers. On top of that, the region is a home to different industries, such as finance, healthcare, technology, retail, and manufacturing. Additionally, North America is abundant in highly skilled and educated professionals in such disciplines, as statistics, data science, and computer science. In conclusion, the availability of such a labour force is crucial for the development, implementation, and use of analytics.
Asia Pacific is likely to be witnessing the fastest growth in the edge analytics market during the forecast period. Several factors are contributing to the rise, but its main driver remains the region’s adoption of connected gadgets. The number of Internet of Things-enabled devices, like smart appliances and wearables, industrial sensors, is exploding. This is leading to an increase in data, which has huge benefits and problems. The increase in demand for real-time analytics solutions from multiple industries is driving the demand for edge analytics. The traditional analytics heavily depends on centralized processing and cloud infrastructure. This system is failing to meet the expectation of both organizations and customers, in an era which is demarcated by rapid gratification and hyper-personalized experience. This is spurring the adoption of edge analytics, which processes the data near the source in manufacturing plant, retail outlet, smart grid. It also provides real-time insights and actionable intelligence without the latency associated with transmitting large volumes of data to the remote servers.
Global Edge Analytics Market By Geography
- Largest
- Fastest
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Edge Analytics Market Dynamics
Drivers
Lower Latency and Rapid-Decision Making Power
- The primary advantage of utilizing edge analytics is the dramatic decrease in delay, permitting for quicker decision-making. Many traditional analytics solutions need gathering and transmitting vast amounts of data to a central cloud or data centre for analysis. This approach might become very time-consuming, especially when large data samples are involved or when taking measurements in an area with limited or unpredictable internet availability.
Growing Support for IoT and IIoT Settings
- Internet of Things and Industrial Internet of Things application devices have an important effect on the development of edge analytics. The data produced by such solutions due to a large variety of connected sensors, devices, and tools is a critical issue that requires a proper solution which would be both effective and scalable. In this way, edge analytics presents the vital infrastructure, which can facilitate the huge amount of data due to the possibility of localized data processing and analysis.
Restraints
Increasing Data Security and Privacy Concern
- The most challenging part of edge analytics is securing data and ensuring privacy. While cloud computing can process data in large, highly secure data centres, edge analytics conducts processing on a variety of devices which do not have secure physical locations. Devices like sensors, cell phones, and especially IoT devices are extremely sensitive to cyberattacks and
Restricted Computational Resource
- Edge devices usually have fewer resources in terms of processing than data centres or cloud environments, which makes it challenging to run complex analytics algorithms and manage big amounts of data in real time. To make edge analytics efficient, resource utilization on edge devices must be improved. It can be realized through developing the lightweight algorithms that can give accurate results without consuming computational powers or memory. Therefore, researchers and developers must work on designing models that can efficiently work on edge devices.
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Edge Analytics Market Competitive Landscape
There are many ways in which companies are working to satisfy the changing demands of businesses and industries. Many businesses are using advanced data analytics methods, such as machine learning and artificial intelligence, to obtain valuable insights from the huge amounts of data. The insights they obtain are more precise and useful in terms of providing clients with predictions and recommendations. Moreover, they are creating real-time analytics for companies to access insights in the moment. Many firms are also investing in tight security and compliance with the latest data protection regulations, such as GDPR and CCPA. Finally, they are coming up with business analytics, which is highly compatible with various industries and customer needs.
Top Player’s Company Profile
- Amazon Web Services Inc. (United States - Part of Amazon.com)
- Cisco Systems Inc. (United States)
- Microsoft (United States)
- Hewlett Packard Enterprise Development LP (United States)
- Databricks (United States)
- Dell Statistica (United States - Part of Dell Technologies)
- Edge ConneX (United States)
- IBM Corporation (United States)
- Intel Corporation (United States)
- Oracle Corporation (United States)
- SAP HANA (Germany - Part of SAP SE)
- Adobe Systems Incorporated (United States)
- Microstrategy Incorporated (United States)
- Salesforce.com Inc. (United States)
- SAP SE (Germany)
- SAS Institute Inc. (United States)
- Tableau Software (United States - Acquired by Salesforce)
- Tibco Software Inc. (United States)
Recent Developments
- In March 2023, Tibco Software Inc. made an announcement about a line of improvements to its analytics profile. These solutions offer immersive, smart, and real-time analytics.
- In September 2023, SAP SE announced the development of their first software-based enterprise resource planning system. It has transformed the structure of business and the potential of their delivering value to customers.
- In October 2022, Tableu Software made announcement about the launch of Tableau 2023. This is a new version of the data visualization and analysis program.
Edge Analytics Key Market Trends
- Rapid Advancements of Edge Computing Hardware & Software: Another essential development propelling the use of edge analytics is progress in hardware and software for edge computing. Modern edge devices like smart gateways and routers, as well as special-purpose edge servers, can now process large data and handle complex analytics. Additionally, since many edge, devices are designed to work in harsh environments, they can be used in a variety of industrial and outdoor settings.
- Increasing Incorporation of IoT: Integration with the Internet of Things is one of the most prominent developments in the field of edge analytics. Nowadays, IoT devices become more and more common in a variety of industries, but not limited to, automotive, smart cities, industrial automation, healthcare, and retail. This is resulting in an increased volume of data collected by these devices. Implementing this many data is problematic with traditional cloud-based analytics since it is associated with bandwidth and latency issues. At the same time, this issue is precisely what edge analytics addresses due to its ability to process data on the network’s edges.
Edge Analytics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global edge analytics market is expected to grow at a considerable rate by providing real-time data analysis solutions It is done by analysing the data collected by the connected devices or nodes such as closed-circuit television, sensors, and others. It permits the end users to optimize both historical and predictive analysis. The growth of edge analytics market is mainly attributed by the rise in information and communications technology expenditure by government bodies of several developed and developing regions including North America, Europe, and Asia-Pacific.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 6.9 billion |
| Market size value in 2031 | USD 60.2 billion |
| Growth Rate | 26.3% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
Recent Developments
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Edge Analytics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Edge Analytics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Edge Analytics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Edge Analytics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Edge Analytics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Edge Analytics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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