Edge Analytics Market Overview:
The increased availability of data from different domains has necessitated the need for improved data collection and analysis approaches. Edge analytics is a new approach that is quickly gaining foothold globally to address various issues related to data. Market reports linked to the information and communications technology sector made available by Market Research Future along with published reports on other sectors have been recently published along with a report on this industry.
The market for Edge Analytics Market is anticipated to earn revenues worth USD 11 Billion by 2023 while developing at a 31 percent CAGR in the forecast period.
The advent of internet of things, the speedy development of data availability through real time intelligence and connected devices are powering the growth of the market substantially. The benefits of scalability and cost optimization are increasing the adoption and demand rate of the market to a great extent. The capability of edge analytics to considerably reduce latency of data analytics and increase its efficiency will boost the demand and revenues of the market extensively in the forecast period.
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The market attractiveness and competitors’ dynamics are significantly enhanced by the strategies that are being engaged by market players. The extended sustainability of the market is however significantly dependent on the tactics and the strategic roadmaps that are employed by market players. The enhanced financial liquidity of the competitors in the market has improved thus providing fresh chances for expansion of the market. The market is very diverse in terms of segments concerning the products as well as the end users that are a part of the market. The market shows vast potential for developing at an expedited speed.
The product offering of the market has diversified tremendously as compared to the past few years, thereby making the market more lucrative for current and new contenders. The well-established competitors in the edge analytics market are Foghorn Systems (U.S.), AGT International Inc. (Switzerland), Cisco Corporation (U.S.), CGI Group Inc. (Canada), Oracle Corporation (U.S.), SAS Institute (U.S.), Apigee Corporation (U.S.), SAP SE (Germany), Analytic Edge (India), Prism Tech (U.K.) among others.
The edge analytics market can be segmented on the basis of component, type, deployment, business application and vertical. The component segment of the market comprises of services, system integration and deployment training, solutions, support and maintenance services and consulting services. By type, the segment comprises of descriptive analytics, predictive analytics, prescriptive analytics and diagnostic analytics. The deployment segment of the market comprises of cloud, on premise.
The segment of business application includes sales, marketing, operations, finance and human resource. Lastly, the vertical based segmentation of the market consists of manufacturing, healthcare, BFSI, retail, media & entertainment, travel & hospitality, IT & telecommunication, government and others
Detailed Regional Analysis:
The regional analysis for the edge analytics market covers main regions such as North America, Europe, Asia Pacific, and Rest of the World. It has been perceived that the North American region is expected to control the prime share of the market, while the Asia Pacific region is anticipated to develop at the rapid pace through the forecast period.
The main development in the edge analytics market in the North American region is due to the technical progress and the presence of a well-established infrastructure in that region.
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Jul 2018 Swim.ai, which has its business interests in the domain of edge computing and analytics recently stated that it had generated $10 million in a Series B funding round headed by Cambridge Innovation Capital, with involvement from Harris Barton Asset Management and Silver Creek Ventures. The round also involved a considered investment from Arm which is a chip design firm.
The funding round has brought the company’s total funding to $18 million approximately. Swim.ai intends to employ its new capital to launch a new R&D center in UK, increase its product development team and expand to new verticals and geographies with an increased sales and marketing team.
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