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Edge Analytics Market Trends

Report ID: GMI6379
Published Date: Jul 2024
Report Format: PDF

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Edge Analytics Market Trends

The emergence of Industry 4.0 and smart manufacturing techniques is expected to create a healthy growth trajectory for the edge analytics industry. In Industry 4.0, edge analytics plays a vital role in optimizing manufacturing processes, predictive maintenance, and improving overall operational efficiency. Companies are using edge analytics to enhance their production lines. Additionally, the growing adoption of edge computing as a paradigm for processing data at the network edge naturally drives the demand for edge analytics solutions.

Improvements in edge computing technologies provide the required computational power to perform complex analytics directly at the data source, lowering latency and bandwidth usage. Various companies are focused on strategic partnerships to provide the required infrastructure to support the demand for AI applications at the edge.

For instance, in February 2024, NTT Data, an IT infrastructure and services partnered with Schneider Electric to launch a co-innovation that helps enterprises utilize the power of edge computing. The strategy introduced a solution that integrates Edge, private 5G, IoT, and Modular Data Centers, offering unmatched connectivity and supporting the computational needs of Generative AI applications deployed at the edge.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of edge analytics reached USD 11.1 billion in 2023 and is set to register over 25% CAGR between 2024 and 2032, led by adoption of IoT devices worldwide and the increasing internet penetration.

The solution segment is expected to reach USD 55 billion by 2032, fueled by the demand for real-time data processing and the surge in data from IoT devices.

North America market held 35% revenue share in 2023, due to adoption of edge analytics solutions and services along with the growing demand for processing data at the edge.

Amazon Web Services Inc., Cisco Systems Inc., Dell, Hewlett Packard Enterprise, IBM Corporation, Intel Corporation, Google LLC, Microsoft Corporation, Oracle Corporation and SAS Institute Inc.