FREMONT, California, June 1, 2018 /PRNewswire/ --
According to a new market intelligence report by BIS Research, titled "Global Edge Analytics Solutions Market - Analysis and Forecast, 2018-2025", the global edge analytics solutions market was estimated $2.14 billion in 2017, and is estimated to grow over $13.44 billion by 2025. The global market is expected to grow at a CAGR of 22.2% during the forecast period 2018 -2025, driven by rapidly increasing number of networked devices in the internet of things, mobile computing, evolving data processing requirements and the demand for solutions capable of reducing time, and cost of data transmission, among others.
Browse 39 market Data Tables and 196 Figures spread through 364 Pages and in-depth TOC on "Global Edge Analytics Solutions Market"
BIS Research Report: https://bisresearch.com/industry-report/global-edge-analytics-market-2025.html
The 'internet of things (IoT)' wave has significantly impacted various industries, such as manufacturing, automotive, transportation & logistics, and several others. However, manufacturing sector remains one of the largest beneficiaries of the internet of things as the sector has implemented the IoT concept around a decade ago for improving the productivity and operational efficiency. In the year 2016 alone, the manufacturing sector spent close to $175 billion over the 'Internet of Things.' Also, the advent of industry 4.0 is further propelling the manufacturing sector to adopt new automation and data exchange technologies including IoT, cloud computing, and cognitive computing, among others. The IoT technology has the potential to improve industrial productivity by nearly 25% generating an economic output of nearly $1.5 trillion by the end of 2025.
Furthermore, the advent of 5G technology will also escalate the demand for the edge analytics solutions considering the high speed and processing power the technology offers than its predecessor 4G. Edge computing, hence in conjunction with 5G, is well positioned to deal with the challenge of processing the massive amount of data generated from connected devices in real time thus, reducing latency issues and improving customer experiences.
By the end of 2020, there will be nearly 25 billion connected devices generating close to 15 zettabytes of data, every year. Under such circumstances, devices will need to perform computation and respond to the user in fractions of a second facilitating the need to push computation to the source where data is being generated (sensors, actuators, and others). Currently, only 10% of the IoT generated data is being pushed to the edge, and the number is expected to reach to nearly 40% of the data being pushed to the edge for computation by the end of 2020.
Despite the rising adoption of edge computing technology, there are specific challenges associated with it including potential security, licensing and configuration challenges. Edge computing solutions are significantly vulnerable to malware infections and security exploits. There are also hidden costs associated with edge computing solutions for additional functionalities which alleviates the price of the product.
According to Abdul Wahid, Lead Analyst at BIS Research, "North America is the leading contributor to the global edge computing solutions market. The contribution of North America to the global edge analytics solutions market was valued to be approximately $892.5 million in 2017 and is growing at a double-digit CAGR of 21.2% in the forecast period. This high growth rate can be attributed to the increasing investments from telecom operators and enterprises on both edge computing capabilities and 5G technology."
• By the end of 2020, almost 50% of IoT created data will be stored, processed, analyzed and acted upon at the edge of a corporate network and the number will further reach to nearly 75% of data by 2025.
• With the growing number of diverse forms of connected things, data must be processed in real time to reduce the latency and transmission cost. Sometimes, installation of data center close to the 'thing' also becomes a challenge, and this is where edge computing comes into action. For example, a Boeing 787 typically generates 40TB per hour of operational data out of which only half a TB is further utilized and sent to a centralized cloud server for storage and analysis.
• The U.S. is a nation with the highest number of networked devices with an existing 829.5 million networked devices, and the number is expected to reach an estimated 4.85 billion by the end of 2025. However, Asian countries such as China, Japan, and Australia are expected to witness a steep rise in the number of IoT connected devices in the coming years.
• Manufacturing and construction, transportation, and logistics and entertainment are among the leading industries in terms of adoption of edge computing. Manufacturing sector alone occupies 25.7% of all end-user segments and is expected to reach a value of nearly $3.03 billion by the end of 2025. The transportation, entertainment, and automotive industries are having a close competition in terms of adoption of the edge computing capabilities with the current value being $430.1 million $354.6 million and $304.2 million respectively. However, the healthcare segment is also picking up with the highest compounded growth rate of 24.7% in this category during the forecast period.
Source: BIS Research Analysis
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This market intelligence report provides a multidimensional view of the global edge analytics solutions market in terms of market size and growth potential. This research report aims at answering various aspects of the global edge analytics solutions market with the help of the key factors driving the market, threats that can inhibit the overall market growth, and the current growth opportunities that are going to shape the future trajectory of the market expansion.
Furthermore, the competitive landscape chapter in the report explicates the competitive nature of the global market and enables the reader to get acquainted with the recent market activities, such as product launches, partnerships, collaborations, business expansions as well as, mergers and acquisitions, among others. The research report provides a comprehensive analysis of the product sales, and manufacturers, and trend analysis by segments, and demand analysis by geographical regions.
This report is a meticulous compilation of research on more than 80 players in the market ecosystem and draws upon the insights from in-depth interviews with the key opinion leaders of more than 10 leading companies, market participants, and vendors. The report also profiles 18 companies including several key players, such as Amazon Web Services, IBM Corporation, Microsoft Corporation, Cisco Systems, Inc., HP Inc., NVIDIA Corporation, MachineShop Inc., FogHorn Systems, AGT International, Inc and Intel Corporation, among others.
Key questions answered in the report:
• What are the major market drivers, challenges, and opportunities in the global edge analytics solutions market?
• What was the market value of the leading segments and sub-segments of the global edge analytics solutions market in 2017?
• How will each segment of the global edge analytics solutions market grow during the forecast period, and what will be the revenue generated by each of the segments by the end of 2025?
• What are the influencing factors that may affect the market share of the key players?
• How will the industry evolve during the forecast period 2018- 2025?
• What are the key developments and strategies that are being implemented by the key players to sustain in this market?
• What are the key application areas of the edge analytics solutions in the global market?
• Which are the most significant end users of the edge analytics solutions and how each end user segment will grow during the forecast period impacting the global market?
• How will the advent of 5G technology catalyze the adoption of the edge computing initiatives?
• What is the volume (installed base of connected units) and value (in $billion) of the internet of things in different end-user categories?
About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm which focuses on those emerging trends in technology which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on Healthcare, Automotive, Aerospace and Agriculture and other key industries that are seeing rapid technological disruption.
Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data and other important market parameters useful in the strategic decision making for senior management.
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