Edge Analytics Market Size (2024 - 2029)

Edge Analytics Market Analysis

The Edge Analytics Market size is estimated at USD 13.88 billion in 2024, and is expected to reach USD 41.75 billion by 2029, growing at a CAGR of 24.64% during the forecast period (2024-2029).

Edge Analytics is an emerging technology expected to ease the load on cloud servers as it is closer to the data source. Edge Analytics can analyze data in real-time, enabling higher dependencies on cloud services. Industries like Manufacturing, healthcare, and retail are expected to benefit the most from the real-time availability of processed data, enabling them to achieve higher efficiencies using real-time decision-making.

• Edge analytics is a data collecting and analysis strategy in which an automated analytical calculation is done on data at the edge of a node, network switch, or another network endpoint instead of waiting for the data to be relayed back to centralized data storage.
• An increase in internet and cloud adoption offers enormous prospects for the global edge analytics industry in the future. Moreover, the rising need for automation boosts the market growth.
• The proliferation of a large amount of data with the help of connected devices is driving the growth of the edge analytics market, with real-time intelligence acting as a catalyst for the growth of edge analytics on network devices and adopting edge analytics, increasing scalability and cost optimization.
• However, the lack of skilled personnel to install and manage edge-based solutions hinders market development. The increasing network node efficiency is predicted to provide lucrative prospects for advancing the edge analytics market size throughout the forecast year.
• The COVID-19 pandemic had a positive impact on the edge analytics market, which exhibited significant growth during the period, owing to remote working trends and employee unavailability during the period of COVID-19 lockdowns, which prompted the need for automation and IoT solutions during the period, assisting in the growth of the edge analytics market during the period. Post-pandemic also, the market is growing rapidly with the increased adoption of digitization technologies.

Edge Analytics Industry Segmentation

Edge analytics is a way to data collection and interpretation in which a programmed analytical computation is performed on data at a sensor, network switch or another device instead of waiting for the data to be sent back to a centralized data store.

The edge analytics market is segmented by deployment (on-premise, cloud), by component (solutions, services ( professional and managed services )), by end-user industry (BFSI manufacturing, it & telecommunication, healthcare, retail), by geography (North America(united states, Canada), Europe (United Kingdom, Germany, France, rest of Europe), Asia Pacific (Japan, China, India, rest of Asia Pacific), Latin America, middle east and Africa). The market sizes and forecasts are provided in terms of value in USD for all the above segments.