(MENAFN- EIN Presswire) Edge Analytics Market
An increase in internet and cloud adoption offers enormous prospects for the global edge analytics industry in the future.
PORTLAND, PORTLAND, OR, UNITED STATE, April 10, 2023 /einpresswire.com / -- Allied market Research published a new report, titled, "edge analytics market Expected to Reach USD 47.4 Billion by 2030 | Top Players such as -Cisco, Dell and Equinix." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global edge analytics market was valued at USD 5.2 billion in 2020, and is projected to reach USD 47.4 billion by 2030, growing at a CAGR of 24.9% from 2021 to 2030.
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Surge in adoption of connected devices, increase in demand for prescriptive analytics, and rise in inclination toward cloud deployment model fuel the growth of the global edge analytics market. Moreover, upsurge in the implementation of edge analytics among enterprises is expected to create multiple opportunities for the key players in the industry.
The edge analytics market is segmented on the basis of component, type, deployment model, industry vertical, and region. On the basis of the component, it is bifurcated into solution and service. On the basis of type, it is classified into descriptive analytics, predictive analytics, and prescriptive analytics. By deployment model, it is categorized into on-premise and cloud. On the basis of industry vertical, it is divided into retail, e-commerce and consumer electronics, energy and utilities, healthcare, transportation and logistics, IT and telecom, manufacturing, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Based on type, the historical analytics segment accounted for more than two-fifths of the total market revenue in 2017 and is anticipated to rule the roost throughout the study period. At the same time, the prescriptive analytics segment is expected to grow at the fastest CAGR of 30.7% during 2017–2023.
Based on solution, the software segment contributed to more than three-fifths of the total market share in 2017 and is expected to retain its dominance during the estimated period. The service segment, on the other hand, would showcase the fastest CAGR of 29.8% till 2023.
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Based on geography, North America generated a major share in 2017, holding nearly half of the total market. Simultaneously, the Asia-Pacific region is projected to register the fastest CAGR of 33.2% throughout the forecast period.
The key players analyzed in the report include Dell Inc., Equinix, Inc., Greenwave Systems, HP Inc., Cisco Systems, Inc., Oracle Corporation, IBM Corporation, iguazio, Intel Corporation, and Microsoft Corporation. These players have incorporated different strategies including expansions, mergers & acquisitions, partnerships, joint ventures, collaborations, and others to heighten their stand in the market.
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Covid-19 Scenario:
● The edge analytics industry size has grown significantly in recent years but due to the outbreak of the COVID-19 pandemic, the market is expected to experience a sharp decline in 2020.
● During this period, many organizations switched to adopting edge AI software for complete automation of work for processes and to monitor the workflow smoothly and remotely.
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