Frost Radar in the Edge Analytics Software Market
NEW YORK, Jan. 6, 2020 /PRNewswire/ -- This radar focuses on the global edge analytics software market. Edge analytics solutions utilize devices such as routers, sensors, integrated access devices (IADs), and multiplexers to sift through and rank large amounts of data collected on these devices.
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Since edge analytics software allows for analysis to occur at the device itself, it reduces latency and eliminates the need for large amounts of data transfer, thus maintaining data privacy, providing real-time actionable insights locally, reducing cost, and increasing scale.As a result, several Big Data analytics (BDA) vendors are expanding their product portfolio to include edge analytics solutions to provide insights in real time rather than moving data back to a central hub.
Edge ecosystem vendors are collaborating with each other to push the technology forward but also competing to gain first-mover advantage across industry verticals and locations. There is a consensus that no one vendor can deliver on all future use cases; collaboration is becoming the key to market expansion.
Key revenue contributors in the market include SAS, C3.ai, SAP, Rockwell Automation, and FogHorn Systems. Other market vendors include Swim.ai and Guavus. Leading edge ecosystem vendors such as Siemens, Intel, SiSense and NVIDIA are still piloting use case-driven edge software solutions and are not included in the analysis this year. Additionally, IBM, Microsoft and Amazon Web Services (AWS) are either providing open source solutions or software development kits to support the developer community in creating edge analytics solutions. Market growth is driven by the need for real-time insights. For instance, in manufacturing, factories are dependent on uptime; to predict machine maintenance needs, they choose to process data on the edge versus the cloud to avoid bandwidth and latency issues and draw real-time insights to take timely action. The market also is affected by the need for organizations to stay competitive, dissatisfaction with BDA solutions, and generation of new revenue through data monetization. Still, the market has been unable to reach its full potential due to poor data hygiene, difficulty proving return on investment, data security challenges, lack of data standardization, and dearth of skilled labor. The radar reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the radar methodology. The document presents competitive profiles on each of the companies in the radar based on their strengths, opportunities, and a small discussion on their positioning. The analyst examines hundreds of companies in the edge ecosystem and benchmarks them across 10 criteria on the radar, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients.
Author: Deviki Gupta
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