Edge analytics, a type of big data analytics, allows for real-time analysis of data created at the edge of network devices that is unstructured. Instead of transmitting data back to a centralized data storage or server, edge analytics performs real-time analytical computations on acquired data.
New York, July 04, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Edge Analytics Market Size, Share & Industry Trends Analysis Report By Component, By Type, By Organization Size, By Vertical, By Regional Outlook and Forecast, 2022 – 2028" - https://www.reportlinker.com/p06289238/?utm_source=GNW
Edge analytics is growing at a rapid pace around the world, owing to continuous developments in workplace performance enhancements and increased usage of the internet of things (IoT), all of which are propelling the edge analytics market forward. Additionally, its unique qualities, such as cost optimization and scalability, are propelling the industry forward.
Edge analytics is a method of data collecting and analysis in which an automated analytical calculation is done on data at the edge of a node, network switch, or any other network endpoint instead of waiting for data to be sent back to a centralized data repository. The edge analytics market is estimated to grow rapidly in the next few years, owing to increased internet and cloud penetration. Furthermore, increased demand for automation will have a positive impact on market growth. Increased network node efficiency is expected to provide lucrative prospects for the growth of the edge analytics market.
Edge analytics uses advanced analytics and machine learning at the site of data collection to help firms get more advanced data faster. It also increases yields, increases throughput, decreases downtime and improves efficiency. Because of the development and rapid spread of the Internet of Things (IoT) and the rapid growth in the availability of data through linked devices and real-time intelligence, it is becoming increasingly popular.
COVID-19 Impact Analysis
COVID-19 has put a lot of pressure on governments across the world. The virus has had drastic effects on the health of the populace and has led to millions of deaths. The lockdowns issued by the government to curb the spread of the virus led to industries being closed down and supply chain troubles. Since edge analytics are widely deployed in the retail sector and this was among the most heavily affected sectors due to the lockdowns, the edge analytics market was severely affected.
Market Growth Factors
Adoption Of Connected Devices And Surge In Demand For Prescriptive Analysis
Through the effective integration of data received from connected devices and networking equipment for increased real-time event analysis, organizations all over the world have focused on enhancing productivity and decreasing the maintenance of analytics systems. The market for data edge analytics solutions is expected to expand at a healthy rate throughout the forecast period, due to an increase in demand for real-time monitoring and prescriptive analytical modeling. This contributes to the growth of the edge analytics industry.
Edge Analytics Leads To Lowest Possible Latency
Edge analytics’ main benefit is that it reduces latency and, as a result, improves overall system performance. Furthermore, it enables users to respond to certain data points more quickly, such as shutting down an overheating jet engine, without needing to check in with a central procedure. Since data is calculated at the edge, it allows application developers to make use of local compute cycles, without incurring network latency. This allows developers to access data in real-time, rather than waiting for it to be uploaded to the cloud, for applications like predictive maintenance, machine learning, and OT management.
Market Restraining Factors
Loss Of Raw Data
The increased efficiency comes provided by edge analytics comes at a price. Only a small portion of the data will be processed and evaluated, with the results being sent via the internet. This essentially implies that raw data is eliminated, which means that some insights that could have been gained are lost. It’s important to think about the sort of device and how the data will be used. A retailer may determine that improving data efficiency is more important than sacrificing theoretical data insights, but an aircraft cannot make the same decision. Even if it is more inconvenient, collecting all raw data and analyzing it off-site is still the preferred strategy when safety is a concern.
Based on components, the edge analytics market is divided into Solution and Service. The services segment garnered a significant revenue share in the edge analytics market in 2021. The edge analytics services enable users to manage their edge computing facilities remotely using Cloud Pak for Data. With Edge Analytics, business applications may be brought closer to data sources like IoT devices or local edge servers, resulting in faster insights, faster response times, and more bandwidth availability.
Based on Type, the market is segmented into Descriptive, Predictive, and Prescriptive. The descriptive analytics segment acquired the largest revenue share in the edge analytics market in 2021. Descriptive analytics is concerned with what happened. It is the practice of identifying trends and relationships using current and historical data. Since it describes associations and trends but does not delve deeper, it is sometimes referred to as the simplest kind of data analysis.
Organization Size Outlook
Based on organization size, the edge analytics market is bifurcated into large enterprises and small and medium enterprises. The small and medium enterprises segment procured a substantial revenue share in the edge analytics market in 2021. Edge analytics’ adaptability and versatility make it incredibly flexible and thus make it apt for small and medium enterprises. Business initiatives can now quickly settle on appropriate markets without needing to invest in costly infrastructure development by collaborating and associating with local edge data centers. Edge data centers enable them to provide competent service to end users with little latency.
Based on verticals, the edge analytics market is classified into Retail, E-Commerce and Consumer Electronics, Energy and Utilities, Healthcare & Life Sciences, Transportation and Logistics, IT and Telecom, Manufacturing, and Others. The IT & telecom segment acquired the largest revenue share in the edge analytics market in 2021. In telecom, edge analytics provides execution resources (compute and storage) for applications with networking close to end-users, often within or at the edge of operator networks. The cloud architecture is well-suited to the needs of today’s IT environment. Edge analytics has evolved as a modern, more viable, and crucial architecture, given the profusion of physical devices employed in today’s IT world. Rather than storing all data in the cloud, edge analytics allows storage capacity to be deployed closer to the device’s actual location.
Region-wise, the edge analytics market is analyzed across North America, Europe, Asia Pacific, and LAMEA. North America acquired the largest revenue share in the edge analytics market in 2021. The demand for prescriptive analytics is growing, and the adoption of edge analytics solutions is increasing. Many American like Amazon Web Services, Intel, Microsoft, Oracle, etc., offer edge analytics solutions. Major companies like Apple have acquired companies that provide edge analytics solutions.
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Microsoft Corporation are the forerunners in the Edge Analytics Market. Companies such as Cisco Systems, Inc., IBM Corporation, Intel Corporation are some of the key innovators in Edge Analytics Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Cisco Systems, Inc., Intel Corporation, Oracle Corporation, Microsoft Corporation, Dell Technologies, Inc., Hewlett-Packard Enterprise Company, Equinix, Inc., Greenwave Systems, Inc., and Iguazio Ltd.
Recent Strategies Deployed in Edge Analytics Market
Partnerships, Collaborations, and Agreements
Jan-2022: Equinix formed a partnership with Nasdaq, an American stock exchange based in New York City. Under the multi-year partnership, both companies aimed to scale the Equinix NY11 data center in Carteret, New Jersey to enable the build-out of Nasdaq’s cloud infrastructure. The partnership was intended to take Nasdaq closer to shifting its markets to the cloud. Equinox would help Nasdaq meet existing and future infrastructure requirements, while accelerating its cloud transformation at a global scale.
Apr-2022: Hewlett Packard Enterprise teamed up with Maxis, one of Malaysia’s largest telecom providers. Through the collaboration, both companies aimed to create the country’s first multi-access edge computing (MEC) solution for enterprises. This will make MEC solutions especially attractive to businesses operating time-critical edge applications such as data analytics, artificial intelligence, automation, and machine learning. MEC can minimize connectivity problems and reduce data storage costs by enhancing efficiency and accuracy in real-time.
Apr-2022: Cisco formed a partnership with NetApp, a global, cloud-led, data-centric software company. NetApp partnered with Cisco to launch with FlexPod XCS, the evolution of FlexPod providing one automated platform for modern applications, data and hybrid cloud services. FlexPod XCS fueled by Cisco Intersight provides important new capabilities for the customers like automation, visibility, and hybrid cloud operations into a single unified platform for modern apps, data, and hybrid cloud services.
Oct-2021: IBM teamed up with Boston Dynamics, a USA-based engineering and robotics design multinational company. Under the collaboration, both companies focused on providing data analysis at the edge to assist industrial companies to enhance the safety of workers, optimize field operations, and push maintenance productivity in environments like power plants, manufacturing facilities, warehouses, and more.
Aug-2021: Equinix entered into a partnership with IBM, an IT technology and consulting firm providing computer hardware, software, infrastructure, and hosting services. Under the collaboration, both companies aimed to assist with the merger of multiple cloud solutions in hybrid cloud environments. After the partnership, customers could then access IBM Cloud services from their digital infrastructures on Platform Equinix worldwide via direct and secure interconnection of hybrid IT infrastructures.
Jul-2021: IBM joined hands with Scale Computing, a dominant player in the edge computing, virtualization, and hyperconverged solutions market. Under the collaboration, both companies helped organizations embrace an edge computing strategy developed to empower them to move data and applications smoothly across hybrid cloud environments, from private data centers to the edge.
Jul-2021: Microsoft entered into a partnership with Lanner Electronics, a global leader in the development and manufacturing of intelligent edge computing appliances. Under the partnership, Microsoft Azure and Lanner Electronics launched Edge-to-Cloud AI Solution, integrating Lanner AI accelerated intelligent edge appliance with Azure IoT edge module, runtime, and cloud interface. Lanner Edge AI appliances utilized the Azure IoT edge capability to execute the AI inference model. Lanner Edge AI appliances simplify AI deployments at the edge, decreasing communications latency and improving workload optimization.
Mar-2021: Oracle, formed a partnership with Red Bull Racing an American computer technology company. The partnership made Oracle Red Bull Racing’s official cloud infrastructure partner. Red Bull leveraged the machine learning and data analytics capabilities of Oracle Cloud Infrastructure (OCI) to optimize the way data is used across its business; from on-track activities to putting more information in the hands of the Team’s global fan base.
Oct-2020: IBM entered into a partnership with ClearBlade, an edge computing Software Company that enables enterprises to rapidly engineer and run secure, real-time, scalable IoT applications. Under the partnership, both companies aimed to provide autonomous edge computing and IoT solutions. The partnership was developed to enable businesses to rapidly deploy, process, store, and analyze data at the edge, unlocking their full potential to digitally transform.
Jul-2020: IBM teamed up with Verizon Business, a company that provides technology, information, communications, and entertainment products. Under the collaboration, both companies cooperated on 5G and edge computing innovation to realize the future of Industry 4.0. Both companies planned to utilize Verizon’s wireless networks, including Verizon’s 5G Ultra Wideband (UWB) network, and Multi-access Edge Computing (MEC) capabilities, together with Verizon’s ThingSpace IoT Platform and Critical Asset Sensor solution (CAS).
Jun-2020: Microsoft formed a partnership with SAS, a leading company developing business analytics software and services. Under the partnership, both companies aimed to allow customers to easily run their SAS workloads in the cloud, increasing their business solutions and unlocking critical value from their digital transformation initiatives. As per the partnership, the companies migrated SAS’ analytical products and industry solutions onto Microsoft Azure as the chosen provider for the SAS Cloud.
May-2020: IBM joined hands with NVIDIA, a dominant company in Artificial Intelligence hardware & software from edge to cloud computing. Under the collaboration, both companies aimed to quicken analytics and implement applications at the edge. The combination offered world-class software management on the most powerful offering for accelerated computing and AI.
Product Launches and Product Expansions
Apr-2022: Dell Technologies expanded its edge solutions product line. The expansions assisted retailers in quickly generating more value and offering improved customer experiences from data generated in retail locations.
Sep-2021: Hewlett Packard Enterprise expanded its product line by releasing a sweeping series of new cloud services for the HPE GreenLake edge-to-cloud platform. These services give customers unrivaled capabilities to power digital transformation for their applications and data. The release announced HPE’s entry into two large, high-growth software markets – data protection and unified analytics. These innovations accelerated HPE’s transition to a cloud services company, and gave customers more options and freedom for their business and IT strategy, with an open and modern platform that offers a cloud experience everywhere.
May-2021: Dell technologies released Apex as-a-service solution, a product that delivers cloud services for a range of data and workload requirements. The product was launched to fulfill the demand for real-time data analytics on multi-cloud platforms and automated technology infrastructure.
Arp-2021: Intel released its 3rd Gen Intel Xeon Scalable processors, the most advanced, highest performance data center platform. These are optimized to power the industry’s broadest range of workloads - from the cloud to the network to the intelligent edge. These processors are the foundation of Intel’s data center platform, allowing customers to benefit from some of the most substantial business opportunities by utilizing the power of AI.
Feb-2021: Oracle expanded its product line with the release of Oracle Roving Edge Infrastructure. Oracle Roving Edge Infrastructure is part of Oracle’s hybrid cloud portfolio. It delivers key infrastructure services to the edge with Roving Edge Devices (REDs)—ruggedized, portable, scalable server nodes. Oracle Roving Edge Infrastructure enables organizations using it to run cloud workloads wherever they need them, even in the world’s most remote locations.
Feb-2021: Oracle released Oracle RED, a portable high-powered server. The appliance permits organizations to take benefits of the Oracle Cloud to develop and run edge data centers in remote or rugged locations. The Roving Edge Device enables enterprises and government agencies to take their applications and data in the Oracle Cloud Infrastructure (OCI) and safely deploy them at edge locations, such as military planes, oil tankers, or a polar observatory.
Jul-2020: Hewlett Packard Enterprise launched HPE Ezmeral, a new brand and software portfolio developed to assist businesses to accelerate digital transformation across their organization, from edge to cloud. HPE Ezmeral spans a portfolio including container orchestration and management, AI/ML and data analytics to cost control, IT automation and AI-driven operations, and security.
Feb-2020: Oracle released the Oracle Cloud Data Science Platform, a fully managed and serverless platform. At the core of the platform is Oracle Cloud Infrastructure Data Science, which enables enterprises to collaboratively build, train, manage and deploy machine learning models to improve the success rate of data science projects.
Acquisitions and Mergers
Mar-2022: Intel Corporation completed the acquisition of Granulate Cloud Solutions, an Israel-based developer of real-time continuous optimization software. The acquisition of Granulate would aid cloud and data center customers to maximize compute workload performance and decrease infrastructure and cloud costs.
Jul-2021: Hewlett-Packard Enterprise completed the acquisition of Teradici Corporation, a global innovator in remote computing software that allows users to securely access high-performance computing from any PC, Chromebook, or tablet. The acquisition enhanced HP’s capabilities in the Personal Systems category by offering new compute models and services tailored for hybrid work.
Jun-2020: Microsoft completed the acquisition of ADRM Software, a company offering large-scale industry data models that are utilized by big companies worldwide as information blueprints. ADRM’s vigorous industry data models were created and refined over decades for business-critical analytics. After the acquisition, Microsoft integrated comprehensive industry models from ADRM with limitless storage and computing from Microsoft Azure. This enabled the development of the intelligent data lake where data from multiple lines of business can be harmonized together more quickly.
Jan-2020: Equinix acquired Packet, a leading bare metal automation platform. Equinix aimed to develop advanced solutions for businesses to quickly deploy digital infrastructure at a global scale with differentiated performance and robust integration to the public cloud, by using Packet’s innovative and developer-oriented bare metal service
Scope of the Study
Market Segments covered in the Report:
By Organization Size
• Large Enterprises
• Small & Medium Enterprises
• IT & Telecom
• Energy & Utilities
• Retail, E-Commerce & Consumer Electronics
• Logistics & Transportation
• Healthcare & Life Sciences
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• IBM Corporation
• Cisco Systems, Inc.
• Intel Corporation
• Oracle Corporation
• Microsoft Corporation
• Dell Technologies, Inc.
• Hewlett-Packard Enterprise Company
• Equinix, Inc.
• Greenwave Systems, Inc.
• Iguazio Ltd.
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