The North America Edge Analytics Market would witness market growth of 24.0% CAGR during the forecast period (2022-2028).
Edge analytics are valuable in a range of businesses and sectors, despite the fact that they are still a specialist tool. One of the most common applications is in IoT edge analytics, which allows network controllers to see how devices and sensors are performing in real-time. In this example, devices send data to a central location, but the majority of the analysis takes place on-site.
A device that controls the temperature of a supermarket refrigerator, for example, could identify a dangerous change in internal temperature that could damage products in seconds. If the data had to be sent to a central computer, analyzed and parsed, and then transmitted back to the sensor, the refrigerator's contents could expire quickly. The identical problem may be rectified in a matter of seconds with edge analytics, with the sensor quickly transmitting the issue and applying a remedy. Manufacturing plants, meanwhile, may employ edge analytics to keep better track of equipment health, and production output, and be prepared to deal with any problem that emerges in seconds rather than minutes.
The United States remains a key market for edge analytics because of the growing acceptance of edge analytics among small and medium-sized businesses, as well as government laws and compliance. Furthermore, the large concentration of manufacturing and telecommunication businesses that heavily use edge analytics services contributes to the market's strong growth. Cloud traffic is directly tied to the demand for edge analytics. Significant market growth can be seen as a result of the massive increase in cloud traffic.
The US market dominated the North America Edge Analytics Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $7,728.3 Million by 2028. The Canada market is estimated to grow at a CAGR of 26.9% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 25.7% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Edge Analytics Market is Estimated to reach $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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