Press release
Edge Analytics Market - Development of New Technologies Demands Growth
Edge analytics is defined as the analysis of data gathered from a non-central point in a system, such as a sensor, network switch, or peripheral node. Analysis in big data analytics is performed in centralized ways through big data centers, central depository, or Hadoop clusters.The principle behind edge analytics is that the analysts gather data directly from active devices eliminating the need to send the entire data to a central warehouse, thereby saving time and resources. Analytic algorithms designed at the edge of a corporate network decide which information is worth sending to the cloud or central data storage depository for later use.
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The edge analytics solutions are primarily responsible for collecting, cleansing, integrating, and filtering data from sensors and devices. System scalability, cost optimization, and increase in penetration of smart connected devices are some key drivers of the edge analytics market. Development of new technologies, such as machine learning, visualization and Internet of Everything (IoE), which connect devices from retail cameras to the Internet and industrial sensors to wearable create opportunity in the edge analytics market.
Users can make important decisions quickly with the help of IoE by predicting the future outcomes after analyzing present data based on previously available data. Providing analytics to the edge of the network requires new network management capabilities, processing requirements, and data flows. The main restraint for the market is lack of efficient real-time algorithms, which can process real-time data and serve real-time applications.
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The global edge analytics market can be segmented based on component, type, deployment model, end-use industry, and region. Based on component, the edge analytics market can be bifurcated into solutions and services.
In terms of type, the edge analytics market can be segregated into diagnostic analytics, descriptive analytics, predictive analytics, and prescriptive analytics.
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