Edge Computing Market Overview:
Market Research Future (MRFR), in its latest the global edge computing market value can touch USD 22,453.9 Mn by 2024. MRFR predicted that the edge computing market can register at 28.4% CAGR across the assessment period 2018 to 2024. The rapid proliferation of Internet of Things (IoT) can impel the expansion of the market. The increased security concerns at public areas can drive the market growth. The rise in IoT trend and the high demand can impel the expansion of the market in years to come.
The rise in initiatives for digital transformation can prompt the expansion of the market in the years to come. The high adoption of IoT solutions by organizations can prompt the expansion of the Edge Computing Market. The increase high the use of computing connected mobile devices and IoT enabled organizations to collect volumes of data and store at the repository can favor the edge computing market. In addition, the rise in the need to store, process, and analyze data to achieve specific tasks can fuel the rise of the edge computing market.
The edge computing favor processing of power and data storage with the application of artificial intelligence. The rise in the need for faster response across time and real-time data can impel the expansion of the market. The rise in need for resilient data communication can aid in the edge computing due to data communication paths over centralized network that can provide business continuity. Thus, can favor the expansion of the market in the years to come.
The outbreak of the Coronavirus (COVID-19) has caused a lot of hardship across the world. The majority of the global population is struggling with the effects of the COVID-19 outbreak on public health, the economy, and society at large. During the COVID-19 pandemic, edge computing and edge data centers are playing a vital role in delivering cached content and cloud computing resources across the globe. Edge computing is proving to be a life-saving technology for the healthcare industry due to the various IoT medical applications that it provides. These telemedicine programs, diagnostic devices, and software applications allow medical professionals to quickly reach the patients by using the patients’ data. The benefits of edge computing have become more apparent during the COVID-19 pandemic. The worldwide lockdown has compelled businesses to move towards digitalization for the provision of work from home facilities to their employees. This has boosted the use of edge servers that are being deployed by the key players in the market, including Amazon Web Services and Microsoft. The impact of the COVID-19 pandemic is significantly driving the demand for edge computing as the leading technology companies are integrating automation and intelligence into their businesses using the edge computing technology.
Major Key Players:
MRFR recognized some reputed marketers of the world edge computing market. They are; General Electric Company, Amazon, Inc., Intel Corporation, Microsoft Corporation, SAP SE, Schneider Electric SE, Alphabet Inc., IBM Corporation, ADLINK Technology Inc., Huawei Technologies Co. Ltd., eInfochips, EdgeConnex Inc., Integrated Device Technology, Inc., Fujitsu Ltd, Siemens AG, The Hewlett Packard Enterprise Company, ZenLayer Inc., Rittal GmbH & Co. KG, ABB Ltd, Yokogawa Electric Corporation, and Advanced Micro Devices, Inc. The report details factors that can impact the market.
- The edge computing market segment study is based on technology, deployment, application, and vertical.
- The technology based segments of the market are fog computing and mobile edge computing. The deployment based segments of the edge computing market are on-premise and cloud. The component based segment of the edge computing market are solutions, hardware, and software.
- The application based segments of the market are analytics, IoT, data caching, augmented reality, environment monitoring, location services, and others.
- The vertical based segments of the edge computing market are healthcare, manufacturing, transportation, energy & utilities, IT & telecommunication, semiconductor, government, hospitality, retail, education, and others.
In current times, North America edge computing market can secure the prime position in the global market. The rise in the growing adoption of edge computing due to its benefits, such as reduced latency and high scalability, along with the implementation of data processing solution at the edge network can boost the regional market in the years to come.
In North America, the US is expected to head the regional market with the largest share due to the rise in the adoption of edge computing solutions across automotive, surveillance, education, and healthcare sectors. In Europe, the increased adoption of edge computing solutions across France, the UK, Germany, Sweden, Spain, Italy, and the rest of EU can prompt the regional market. In Asia Pacific, the edge computing market is likely to rise due to the need for effective computing solutions.
Table of Contents
- Executive Summary
2.2 Scope of The Study
2.3 List of Assumptions
2.4 Market Structure
- Market Insight
4.1 Research Process
4.2 Primary Research
4.3 Secondary Research
4.4 Market Size Estimation
4.5 Data Collection Tools
4.6 Market Size Estimation – Top-Down & Bottom-Up Approach
4.7 Forecast Model
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List of Table
Table 1 Market Synopsis
Table 2 List of Assumptions
Table 3 Global Edge Computing Market, By Technology, 2018–2023 (Usd Million)
Table 4 Global Edge Computing Market, By Deployment, 2018–2023 (Usd Million)
Table 5 Global Edge Computing Market, By Component, 2018–2023 (Usd Million)
List of Figure
Figure 1 Global Edge Computing Market: Market Structure
Figure 2 North America Market Size & Market Share by Country (2017 Vs 2023)
Figure 3 Europe Market Size & Market Share by Country (2017 Vs 2023)
Figure 4 Asia Pacific & Market Share by Country (2017 Vs 2023)
Figure 5 Rest of The World Market Size & Market Share by Country (2017 Vs 2023)
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