Market Size of Edge Analytics Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 13.88 Billion |
| Market Size (2029) | USD 41.75 Billion |
| CAGR (2024 - 2029) | 24.64 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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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.
