The global market for edge analytics is likely to gain strength in the near future from the vast rise in adoption of edge analytics in a number of B2B applications and the rising demand for integration of real-time and predictive intelligence features in network devices. The increased realization among enterprise users that edge analytics can lead to improved scalability and cost optimization of their offerings is also expected to work well for the market in the near future. Moreover, the increased use of connected devices, which is leading to the development of massive volumes of digital data is also necessitating the use of edge analytics practices in the enterprise sector.
Vast Proliferation of IoT and Increased Focus on Development of Industry 4.0 Vision to Drive Market
The market for edge analytics is expected to benefit massively from the rising proliferation of IoT and the adoption of robotics and automation across a large number of industries. Advancements in networking capabilities, development of IT infrastructure, and renewed awareness regarding the vast benefits of automation to production volumes and time to market have been encouraging industries to adopt automation across a variety of sectors. The industry 4.0 initiative rolled out by Germany to encourage computerization in the manufacturing sector is now steadily becoming a reality and effective edge analytics tools are being increasingly required to effectively access and act on the important bits of consumer information gathered with the help of highly connected business networks.
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North America to Remain Leading Contributor of Revenue to Global Market
In terms of geography, the global market for edge analytics acquires a large share of its revenue from the North America market owing to the rising demand for technologies associated with edge analytics, the vast rise in number of technology companies, and the high number of international conglomerates operating across a number of industries in the region. The region is likely to also remain one of the leading contributors of revenue to the global market in the next few years.
The market in Asia Pacific is also emerging as one of the leading contributors of revenue to the global edge analytics market owing to the vast rise in digitization across a number of industries and the resultant rise in digital data in massive volumes. The region has become the hub of IT industry over the years and is steadily becoming the leader in the fields of telecommunication, mobile computing, e-commerce, and social medial platforms. As such, the demand for edge analytics is likely to continue to remain strong in the region near future as well.
Some of the leading companies in the market are Analytic Edge, Prism Tech, CGI Group Inc., Foghorn Systems, Predixion Software, AGT International Inc., SAS Institute Inc., Apigee Corporation, Oracle Corporation, SAP SE, and Cisco Systems, Inc.