Edge Analytics Market
Edge analytics is characterized as the examination of information accumulated from a non-essential issue in a framework, like a sensor, network switch, or fringe hub. Investigation in enormous information analytics is acted in unified manners through large server centers, Hadoop clusters, or central depository. Insightful calculations planned at the edge of a corporate organization choose which data merits shipping off the cloud or focal information stockpiling safe for some time in the future. In various ventures, like mining, oil and gas, sustainable power, telecom and assembling, information transmission from mechanical gear, machines, and other far off gadgets associated with the Internet of things (IoT) troubles functional information, which can be troublesome and costly to oversee. Edge analytics gadgets are acquiring fame across various ventures because of the need to follow up on information progressively, which is near the source, to guarantee the consistent activity of gadgets and sensors.
Advancement of innovations, for example, AI, perception, and Internet of Everything (IoE), which interfaces gadgets from retail cameras to the Internet and modern sensors to wearable set out freedom in the edge analytics market. Clients can settle on significant choices rapidly with the assistance of IoE (Internet of Everything) by foreseeing the future results in the wake of dissecting present information dependent on already accessible information. Giving analytics to the edge of the organization requires new organization the board capacities, handling prerequisites, and information streams. The fundamental limitation for the market is the absence of effective constant calculations, which can deal with ongoing information and serve continuous applications.
Edge analytics is defined as the analysis of data gathered from a non-central point in a system, such as a sensor, network switch, or peripheral node. Analysis in big data analytics is performed in centralized ways through big data centers, central depository, or Hadoop clusters. The principle behind edge analytics is that the analysts gather data directly from active devices eliminating the need to send the entire data to a central warehouse, thereby saving time and resources. Analytic algorithms designed at the edge of a corporate network decide which information is worth sending to the cloud or central data storage depository for later use. In a number of industries, such as mining, oil and gas, renewable energy, telecom and manufacturing, data transmission from industrial equipment, machines, and other remote devices connected to the Internet of things (IoT) burdens operational data, which can be difficult and expensive to manage. Edge analytics devices are gaining popularity across a number of industries due to the necessity to act on data in real-time, which is close to the source, in order to ensure continuous operation of devices and sensors.
The edge analytics solutions are primarily responsible for collecting, cleansing, integrating, and filtering data from sensors and devices. System scalability, cost optimization, and increase in penetration of smart connected devices are some key drivers of the edge analytics market. Development of new technologies, such as machine learning, visualization and Internet of Everything (IoE), which connect devices from retail cameras to the Internet and industrial sensors to wearable create opportunity in the edge analytics market. Users can make important decisions quickly with the help of IoE by predicting the future outcomes after analyzing present data based on previously available data. Providing analytics to the edge of the network requires new network management capabilities, processing requirements, and data flows. The main restraint for the market is lack of efficient real-time algorithms, which can process real-time data and serve real-time applications.
The global edge analytics market can be segmented based on component, type, deployment model, end-use industry, and region. Based on component, the edge analytics market can be bifurcated into solutions and services. In terms of type, the edge analytics market can be segregated into diagnostic analytics, descriptive analytics, predictive analytics, and prescriptive analytics. Based on deployment model, the edge analytics market can be divided into on-premise and on-cloud. In terms of end-use industry, the edge analytics market can be categorized into health care and life sciences, banking financial services and insurance (BFSI), media & entertainment, energy & utility, manufacturing, transportation & logistics, retail & consumer goods, IT & telecommunication, government & defense, travel & hospitality, and others. In terms of region, the edge analytics market can be divided into North America, Asia Pacific, Europe, Middle East & Africa, and South America. Proliferation of various mobile devices in the North America is expected to drive the edge analytics market in the region during the forecast period. Furthermore, growing adoption of wireless mobile communications technologies, such as 3G and 4G, is expected to fuel the edge analytics market in Asia Pacific during the forecast period.
Key players operating in the global edge analytics market include Cisco Systems Inc., Oracle Corporation, SAP SE, Apigee Corporation, SAS Institute Inc., AGT International Inc., PrismTech Corporation, Greenwave Systems, CGI Group Inc., Dell Technologies Inc, Foghorn Systems, PrismTech Corporation, Equinix, Inc., and Intel Corporation.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.