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The GMI Research projects that the Edge Computing Market will exponentially proliferate over the forecast period. This is primarily because of the evolving need for predictive analytics for businesses and the surging usage of location-based applications. Further, they possess the ability to acknowledge data via a location-specified view and effectively influence decision making process which further enlarges the market size.
Introduction of the Edge Computing Market
Edge computing refers to a networking ideology majorly focussing on guiding computing close to the data source to reduce the usage of bandwidth and intermission. In other words, it means operating various small procedures in the cloud computing such as user’s computer, edge server, and an IoT device.
Key Players of the Market:
- Cisco Systems, Inc.
- Hewlett Packard Enterprise Development LP
- Dell Inc.
- Huawei Technologies Co., Ltd.
- Saguna Networks Ltd.
- FogHorn Systems
- Amazon Web Services, Inc.
- MachineShop Inc
Edge Computing Market Dynamics
The surging adoption of edge computing by the telecommunication companies and the accelerating penetration of digital modification leading to a surge in the execution of Internet of Things across several organizations will proliferate the growth of the global edge computing market. Also, the acceleration in the number of connected devices across the nation and the drift of population towards the usage of high quality smartphone apps will strengthen the growth of the market.
Edge computing proffers several benefits such as quick data processing and interpretation, less network traffic, better application effectiveness, and decreased costs which have largely influenced the market growth. The accelerating number of autonomous automotive across several nations and the potential to expedite faster data management will propel the market growth. However, the growing agitation towards safety and data prevention as well as the prevalence of complicated infrastructure will restrain the market growth.
Component Segment Analysis
On the basis of component, the hardware segment is projected to witness a higher growth over the coming years. This is because of the growing usage of hardware such as gateways, routers, and sensors by technologies such as EDC and AMR. Also, the increasing inclination towards the usage of better performing hardware instruments because of the rising usage of sophisticated technologies such as machine learning and artificial intelligence across several industry verticals will further bolster the market growth.
Organization Size Segment drivers
Based on the organization size, the large enterprises segment is expected to witness a faster rate over the coming years. This is because of the surging demand for edge computing solutions led by the growing need to compare huge amount of data created in these enterprises.
Vertical Segment Drivers
The IT & Telecom sector is foreseen to lead the overall edge computing market over the coming ears. The segment is also likely to earn a principal amount of income over the forecast period. The surging adoption of edge computing in the sector is primarily guided by the aggravating demand for expeditious service by customers.
On the basis of regional analysis, the Asia-Pacific region is expected to witness a prominent growth over the coming years. The surging perforation of the edge computing solutions across different nations like China, Japan, and India will proliferate the market growth. Furthermore, the increasing espousal of several sophisticated technologies such as the accelerating number of internet of things and connected infrastructure and the mounting number of small & medium-sized enterprises will bolster the market growth.
Edge Computing Market Segmentation:
Segmentation by Component
Segmentation by Application
- Industrial Internet of Things
- Smart Cities
- Content Delivery
- Remote Monitoring
- Augmented Reality & Virtual Reality
Segmentation by Organization Size
- Small & Medium-Sized Enterprises
- Large Enterprises
Segmentation by Vertical
- Energy & Utilities
- Telecommunications and IT
- Government & Defense
- Retail & Consumer Goods
- Media & Entertainment
- Healthcare & Lifesciences
- Transportation & Logistics
Segmentation by Region:
- Asia Pacific
- Rest of APAC
- North America
- United States of America
- United Kingdom
- Rest of Europe
- South Africa
- Saudi Arabia