According to a new market research report "Edge Analytics Market by Component (Solutions and Services), Analytics Type, Business Application (Marketing, Sales, Operations, Finance, and Human Resources), Deployment, Vertical, and Region - Global Forecast to 2021", published by MarketsandMarkets™, the Edge analytics market estimated to grow from $1.94 Billion in 2016 to $7.96 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 32.6%.
Advent of Internet of Things (IoT) & proliferation of massive amount of data through connected devices, and predictive & real-time intelligence on network devices acts as a catalyst to the growing adoption of edge analytics solutions and services.
Browse in-depth TOC on “Edge Analytics Market”75- Tables
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Predictive analytics type to grow at the highest rate during the forecast period
Edge analytics market is categorized into four analytics types, namely, predictive, perceptive, diagnostic, and descriptive analytics. Predictive analytics type is expected to grow at the highest CAGR over the forecasted period. Predictive analytics would be a game changer in the business environment predicting the outcomes before the occurrence of actual events.
On-cloud market to grow at the highest rate during the forecast period
The market, by deployment model has been segmented into on-premises and on-cloud model. On-cloud deployment model is expected to witness the highest CAGR during the period 2016 to 2021. On-cloud deployment model will gain traction in the coming years owing to the cost effectiveness, agility, and affordability it offers to the end customer.
North America is expected to dominate the edge analytics market during the forecast period
The edge analytics market segments the global market on the basis of regions, which include North America, Asia-Pacific (APAC), Europe, the Middle East and Africa (MEA), and Latin America. North America is expected to hold the largest share of the edge analytics market in 2016 due to the presence of large enterprises, technical experts, and growing demand for edge analytics technologies in this region. The market in APAC is expected to grow at the highest CAGR between 2016 and 2021. The primary driving force for this growth is the massive growth of data through various channels such as social media, mobile computing, IoT, and bolstering smart cities initiatives in this region.
The report also encompasses different strategies, such as mergers & acquisitions, partnerships & collaborations, and product developments, adopted by major players to increase their share in the market. Some of the major technology vendors include Cisco Corporation (U.S.), Oracle Corporation (U.S.), SAP SE (Germany), SAS Institute (U.S.), Apigee Corporation (U.S.), Predixion Software (U.S.), AGT International Inc. (Switzerland),Foghorn Systems (U.S.), CGI Group Inc. (Canada) ,Analytic Edge (India), and Prism Tech (U.K.).
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