Global Edge Analytics Market to Near Five-fold Growth By 2025 | Passionate In Analytics
The content summarizes the Frost & Sullivan’s Information & Communication Technology research and analysis which is the latest addition to the Frost & Sullivan Leadership Council’s Growth Opportunities in the Global Edge Analytics Industry, forecast to 2025, which helps companies recognize a constant flow of growth opportunities to thrive in an uncertain future. Frost & Sullivan is famed for helping business leaders, investors, identify mega trends, business models and businesses to take action for six decades, resulting in an ongoing flow of growth opportunities to drive future success.
The adoption of edge technologies across vertical industries creates crucial opportunities for market participants to expand. The demand for AI and MI is increasing the market adoption of edge. Dissatisfaction with Big Data Analytics is also the reason for the demand. Global Edge Analytics Market will near five-fold growth by 2025 and will garner around $1.18 billion from $254.8 million in 2020.
Industry verticals like manufacturing, energy and logistics are to be focused more to profit from its immense growth. A critical use case in the manufacturing sector is predictive analytics, mainly predictive maintenance. A significant revenue contributor in the US and EMEA is discrete production in the automotive and customer packaged goods (CPG) industries. In order to maximize energy efficiency, Edge analytics data can be used to make appropriate changes. In this field, EMEA is the leading contributor of edge analytics tools. There is growth in government investment in edge analytics for renewable energy, wherein Singapore, Indonesia, Thailand and Malaysia are adopting green buildings. Investment in autonomous robots on the factory floor would be influenced by growing investment in autonomous vehicles in the transport sector. Over the forecast period, the use of edge analytics to automate and monitor the movement of raw materials and products on the factory floor is expected to expand.
The North America and Latin America (NALA) region, led by the United States, will be a key adopter of edge analytics solutions by 2025, accounting for 59.3 percent of total market revenue. The region of Europe, Middle East and Africa (EMEA) is the second largest market contributor to revenue, followed by Asia-Pacific. The manufacturing sector leads the way in terms of industry verticals.
(This article was originally published in Passionate in Analytics.)