DUBLIN, Nov 22, 2016 /PRNewswire/ -- Research and Markets has announced the addition of the "Edge Analytics Market - Global Forecast to 2021" report to their offering.
The edge analytics market size is estimated to grow from USD 1.94 billion in 2016 to USD 7.96 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 32.6%. Advent of IoT and proliferation of massive amount of data through connected devices and the increased adoption of edge analytics due to its scalability and cost optimizations has fueled the growth of edge analytics. However, issues pertaining to safety and security and lack of universally accepted standards are acting as the restraining factors for the edge analytics market. An edge analytics solution are deployed on the edge of the network devices to get real-time analysis of the data generated and provides predictive, prescriptive, as well as diagnostic analysis to the data. The solutions are intended to meet interoperability challenges that arises due to multiple heterogeneous devices connected together and are integrated within the device enabling real time analysis and advance decision making capabilities. The software becomes the vital part of problem solving mechanism and often uses tools such as dashboard, data visualization, reporting, and self-service to highlight the data information and data significance. APAC is estimated to grow at the highest CAGR during the forecast period. In APAC region, there is a tremendous demand for deployment of edge analytics technologies with advanced analytics solutions that provides comprehensive support and specialty in real-time access of data, facilitating enterprises to comprehend business scenario, and take quicker and faster decisions.