The Europe Edge Analytics Market would witness market growth of 24.5% CAGR during the forecast period (2022-2028).
The rapid use of the Internet of Things (IoT) and linked devices in industries such as IT, healthcare, retail, manufacturing, and logistics are providing edge analytics solution vendors with various growth opportunities around the world. Streaming operational data from industrial equipment, manufacturing machines, or IoT-connected devices is challenging to manage for most firms. These firms, on the other hand, are proactively using edge analytics to manage the IoT data deluge and solve challenges like latency in important decision-making processes, bandwidth optimization, data security, and cost reduction.
Edge analytics, because of its decentralized nature, outperforms traditional big data analytical methods in terms of speed, efficiency, and accuracy. This architecture analyzes large amounts of data at the edge, allowing operators to send only the most important data to the cloud for further analysis. Edge analytics is fast gaining traction in the manufacturing business, where it is being utilized for real-time monitoring of machine health and production output, anomaly detection to prevent accidents, and delivering real-time statistics and feedback to production workers. As a result, real-time data analysis, cost-efficiency, scalability, and better data privacy and security are all significant advantages of edge analytics.
Higher corporate productivity, investment, and innovation activities are linked to advanced digital technologies. Furthermore, organizations that have incorporated digital technology are better prepared to cope with the COVID-19 pandemic's disruption. Europe plans to quickly embrace the possibilities of digital technology. Also, significant growth in sensor technology can be witnessed in the region. The edge-to-cloud paradigm can be formed by combining sensor technology breakthroughs with lower hardware prices. Sensors with processing units can assist in taking important actions in an unreliable cloud environment and then synchronize with the cloud.
The Germany market dominated the Europe Edge Analytics Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,810.3 Million by 2028. The UK market is poised to grow at a CAGR of 23.5% during (2022 - 2028). Additionally, The France market would showcase a CAGR of 25.5% during (2022 - 2028).
Based on Component, the market is segmented into Solution and Services. Based on Type, the market is segmented into Descriptive, Predictive, and Prescriptive. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Vertical, the market is segmented into IT & Telecom, Energy & Utilities, Retail, E-Commerce & Consumer Electronics, Logistics & Transportation, Healthcare & Life Sciences, Manufacturing, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Edge Analytics Market will Hit $28.3 Billion by 2028, at a CAGR of 24.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Cisco Systems, Inc., Intel Corporation, Oracle Corporation, Microsoft Corporation, Dell Technologies, Inc., Hewlett-Packard Enterprise Company, Equinix, Inc., Greenwave Systems, Inc., and Iguazio Ltd.
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