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Edge Analytics Market Is Expected to Garner $47.4 Bn, Globally, by 2030 at 24.9% CAGR: AMR
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Covid-19 scenario:
► The Covid-19 pandemic had a negative impact on the market, due to sharp decline in investment in edge solutions and fall in business confidence.
► However, a few major companies switched to adopting edge AI solution to offer complete automation of work for processes and monitor workflow remotely.
By component, the solution segment held the largest share in 2020, accounting for nearly three-fourths of the global edge analytics market. This is due to rise in need for easily deployable edge solutions. However, the service segment is expected to register the highest CAGR of 26.5% during the forecast period, owing to rapidly growing demand for edge analytics services.
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By type, the predictive analytics segment would showcase the highest CAGR of 26.5% from 2021 to 2030, due to growing demand for precautionary tools. However, the descriptive analytics segment held the largest share in 2020, contributing to more than two-fifths of the global edge analytics market, due to growing analytics trends.
By region, the market across North America held the lion's share in 2020, accounting for nearly two-fifths of the global edge analytics industry, due to high concentration of specialized edge solution vendors in the region. However, the market across Asia-Pacific would showcase the highest CAGR of 27.2% from 2021 to 2030, owing to ongoing digital transformation of the region.
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Major market players
► Cisco system Inc.
► Dell Technologies Inc.
► Equinix, Inc.
► Greenwave Systems
► Hewlett Packard Enterprise Development LP
► IBM Corporation
► Iguazio Ltd.
► Intel Corporation
► Microsoft Corporation
► Oracle Corporation
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.
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