The Asia Pacific Edge Analytics Market would witness market growth of 25.7% CAGR during the forecast period (2022-2028).
Edge analytics can be used extensively in the manufacturing business, for example, in a smart production line. Edge analytics can be used to detect manufacturing flaws or anomalies, as well as poorly printed stickers, packaging, and other items in real-time. Edge devices can also filter out noisy data and capture only the information that is deemed useful by incorporating computer capacity in the form of complex event processing (CPE).
Another industry where the number of linked devices has increased dramatically is healthcare. A hospital room will have 15 to 20 medical gadgets on average in the future, with the bulk of them being networked. A major hospital with 85,000 linked medical and IoT devices can place tremendous pressure on the cloud network. Edge analytics and computing can greatly lessen this burden.
Data from sensors such as parking lot sensors, shopping cart tags, and store cameras can be used by retailers. They can estimate checkout wait times and preemptively warn shop service managers when extra registers are required to be opened, or even open registers before consumers arrive, using smart analytics. It also assists merchants in reforming their business models and strategies in order to get a competitive advantage. The concept is to use behavioral targeting to provide individualized solutions for everyone, rather than just a select group of people.
Digital trade encompasses not only the online purchase and sale of products and services but also the cross-border exchange of information and data. It is based on the use of digital technologies to enhance trade and increase production, such as by simplifying customs procedures. While the information and data transfers are not necessarily profitable, they are critical enablers of digital trade. Since edge analytics can be utilized effectively in improving transportation and logistics processes, the increase in production and trade would lead to a growth in demand for edge analytics in the region.
The China market dominated the Asia Pacific Edge Analytics Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2,326.9 Million by 2028. The Japan market is anticipated to grow at a CAGR of 24.9% during (2022 - 2028). Additionally, The India market would display a CAGR of 26.5% 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 China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Edge Analytics Market is Projected to reach USD 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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