Portland, OR, Feb. 27, 2020 (GLOBE NEWSWIRE) -- According to the report, the global edge analytics market was estimated at $1.72 billion in 2016, and is expected to reach $10.02 billion by 2023, growing at a CAGR of 29.2% from 2017–2023. The report offers a detailed analysis of the drivers & opportunities, top investment pockets, top winning strategies, market size & estimations, competitive scenario, and changing market trends.
Surge in adoption of connected devices, increase in demand for prescriptive analytics, and rise in inclination toward cloud deployment model fuel the growth of the global edge analytics market. Moreover, upsurge in the implementation of edge analytics among enterprises is expected to create multiple opportunities for the key players in the industry.
The software segment to dominate through 2017–2023
Based on solution, the software segment contributed to more than three-fifths of the total market share in 2017 and is expected to retain its dominance during the estimated period. The service segment, on the other hand, would showcase the fastest CAGR of 29.8% till 2023.
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The historical analytics segment to lead the trail
Based on type, the historical analytics segment accounted for more than two-fifths of the total market revenue in 2017 and is anticipated to rule the roost throughout the study period. At the same time, the prescriptive analytics segment is expected to grow at the fastest CAGR of 30.7% during 2017–2023.
North America to rule the roost in terms of revenue
Based on geography, North America generated a major share in 2017, holding nearly half of the total market. Simultaneously, the Asia-Pacific region is projected to register the fastest CAGR of 33.2% throughout the forecast period.
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Frontrunners in the industry
The key players analyzed in the report include Dell Inc., Equinix, Inc., Greenwave Systems, HP Inc., Cisco Systems, Inc., Oracle Corporation, IBM Corporation, iguazio, Intel Corporation, and Microsoft Corporation. These players have incorporated different strategies including expansions, mergers & acquisitions, partnerships, joint ventures, collaborations, and others to heighten their stand in the market.