Worldwide Sales Of Edge Analytics Are Projected To Reach US$ 62 Billion By 2033.

 The global edge analytics market is valued at US$ 7 billion in 2023 and is expected to touch US$ 62 billion by 2033, advancing at an impressive CAGR of 24.3% from 2023 to 2033 (forecast period).

Edge analytics offers real-time analysis of unstructured data produced on the edge of network devices. Instead of transmitting data back to a centralized data store or server, edge analytics conducts automatic analytical computations on acquired data in real time.

Edge analytics enables businesses to obtain more advanced data quickly by utilizing machine learning and advanced analytics at the point of data gathering. It also increases throughput, decreases downtime, and enhances efficiency.

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Fact.MR, in its latest business intelligence study, depicts the nuts and bolts of the global Edge Analytics market. The report presents detailed information regarding the drivers, restraints, opportunities and trends affecting market growth.

Each segment along with its sub-segment is analyzed in terms of value and volume. Further, the report elaborates the market behavior of each vendor operating in the Edge Analytics market.

Key findings of the Edge Analytics market study:

·        Regional breakdown of the Edge Analytics market based on predefined taxonomy.

·        Innovative manufacturing processes implemented by Edge Analytics vendors in detail.

·        Region-wise and country-wise fragmentation of the Edge Analytics market to grasp the revenue, and growth outlook in these areas.

·        Changing preferences among consumers across various regions and countries.

·        Factors (Positive and Negative) impacting the growth of the global Edge Analytics market.

Competitive Landscape:

The global market for edge analytics is very competitive, with multiple major competitors. Key players in the edge analytics market are focusing on expanding their consumer base in international countries. These players are using strategic collaboration initiatives to increase their market share and profitability.

While many organizations developing edge computing technology are established industry players and global tech giants, the startups providing much of the innovation and many new products and services are critical to the edge analytics market's long-term growth.

  • SliceUp, a start-up based in the United States, develops an analytics system built on an edge and cloud technology ecosystem. Edge computing systems use AI and Machine Learning to detect anomalies at the point where raw data is generated. The system can send critical and relevant information to the backend or store it in the cloud server while removing anomalous data. This assists IT departments in reducing the time, effort, and expense associated with operational security.
  • Cisco collaborated with NetApp, a multinational, data-centric, cloud-led software firm, in April 2022. NetApp collaborated with Cisco to introduce FlexPod XCS, the progression of FlexPod that offers a single automated platform for data, modern apps, and hybrid cloud services. FlexPod XCS, powered by Cisco Intersight, offers companies significant new features like visibility, automation, and hybrid cloud operations in a single unified platform.
  • Hewlett Packard Enterprise joined forces with Maxis, one of Malaysia's leading telecom operators, in April 2022. Through their collaboration, both firms aimed to create the country's first multi-access edge computing (MEC) solution for enterprises. MEC systems will appeal to enterprises running time-critical edge applications such as artificial intelligence, data analytics, machine learning, and automation. MEC can decrease connectivity issues and data storage expenses by improving efficiency and accuracy in real time.
  • Intel Corporation acquired Granulate Cloud Solutions, an Israeli provider of real-time continuous optimization software, in March 2022. Granulate's purchase would help cloud and data center clients maximize compute workload performance while lowering infrastructure and cloud expenses.
  • Equinix struck a collaboration with Nasdaq, a New York-based American stock exchange, in January 2022. Under the multi-year agreement, the companies intended to expand the Equinix NY11 data center in Carteret, New Jersey, to support Nasdaq's cloud infrastructure build-out. The collaboration was designed to get Nasdaq closer to moving its markets to the cloud. Equinox would assist Nasdaq in meeting current and future infrastructure needs while also expediting its worldwide cloud transformation.

Key Segments of Edge Analytics Industry Research:

·         By Component:

    • Solutions
    • Services

·         By Type:

    • Predictive Analytics
    • Diagnostic Analytics
    • Prescriptive Analytics
    • Descriptive Analytics

·         By End Use:

    • IT & Telecom
    • BFSI
    • Transportation & Logistics
    • Manufacturing
    • Retail & Consumer Goods
    • Energy & Utilities
    • Others

·         By Region:

    • North America
    • Latin America
    • Europe
    • APAC
    • MEA

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