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Edge Analytics Market Growth, Trends and Forecast to 2024: Growth in Number of Connected Devices in IoT - ResearchAndMarkets.com

November 14, 2019

DUBLIN--(BUSINESS WIRE)--Nov 14, 2019--

The “Edge Analytics Market - Growth, Trends and Forecast (2019 - 2024)” report has been added to ResearchAndMarkets.com’s offering.

Edge analytics, an alternative to big data analytics, provides real-time analysis of data generated on the edge of network devices, which is in an unstructured form. Edge analytics performs the automatic analytical computation of collected data in real-time, instead of sending the data back to the centralized data store or server.

Edge Analytics is increasing at significant force across the world, owing to the constant advancements of workplace performance enhancements and increase adoption of internet of things (IoT), which are driving the edge analytics market growth to the large extent. Moreover, its distinctive features like cost optimization and scalability are significantly boosting the growth of the market.

Edge analytics help companies to get more advanced data faster by employing advanced analytics and machine learning at the point of data collection. Also, it further boosts yields, increases throughput, reduces downtime, and improves efficiency. It is gaining increasing demand owing to the emergence and the booming expansion of the Internet of Things (IoT) and the fast-paced growth in the availability of data through connected devices and via real-time intelligence.

The manufacturing industry can make extensive use of Edge analytics, for instance, in a smart production line. Pointing out manufacturing defects or anomalies, badly printed stickers, packaging, etc., in real-time can be achieved using edge analytics. Further, by embedding computing capability in the form of complex event processing (CPE), edge devices can filter out noisy data and collect only information that is deemed useful.

Healthcare is another domain where a massive surge in the number of connected devices can be witnessed. In the future, a hospital room on an average will have around 15 to 20 medical devices, a majority of which are expected to be networked. A large hospital can have as much as 85,000 connected medical and IoT devices, putting a significant strain on the cloud network. Edge analytics and computing can reduce this burden to a great extent.

Scope of the Report

Edge analytics is a way to data collection and interpretation in which a programmed analytical computation is performed on data at a sensor, network switch or another device instead of waiting for the data to be sent back to a centralized data store.

Key Market Trends

Retail Industry to Drive the Edge Analytics Market

North America Holds the Largest Share in Edge Analytics Market

Competitive Landscape

The edge analytics market is extremely competing and consists of numerous significant players. In terms of market share, few of the significant players currently control the market. These important players with a noticeable share in the market are concentrating on growing their customer base across foreign countries. These businesses are leveraging strategic collaborative initiatives to enhance their market share and improve their profitability.

MARKET DYNAMICS

Market Drivers

Market Challenges

Companies Mentioned

For more information about this report visit https://www.researchandmarkets.com/r/fvp11x

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KEYWORD:

INDUSTRY KEYWORD: TECHNOLOGY NETWORKS INTERNET DATA MANAGEMENT

SOURCE: Research and Markets

Copyright Business Wire 2019.

PUB: 11/14/2019 07:13 AM/DISC: 11/14/2019 07:13 AM

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