Edge Computing Market was estimated at USD 2,456 Million in 2019 and is expected to grow at a CAGR of 32.4% during forecast period. As per the analysis of the edge computing market by GMI Research, several factors are responsible for the market growth during the forecast period. The significant factors are the high penetration of innovative technologies applications and the growing number of autonomous vehicles across different countries.
Introduction of Edge Computing Market
Edge computing is a part of distributed networking philosophy that emphasizes bringing the computing closer to the data source to reduce latency and save bandwidth. It runs a small number of processes in the cloud and moves them to the local places, like an IoT device, user’s computer, and an edge server. Edge computing makes the computation and data storage adjacent to the devices, where it is collected rather than dependant on a central location thousands of miles away.
Key players of the Market
- Hewlett Packard Enterprise Development LP
- Cisco Systems, Inc.
- Dell Inc.
- Huawei Technologies Co., Ltd.
- FogHorn Systems
- Amazon Web Services, Inc.
- MachineShop Inc
- Saguna Networks Ltd.
Edge Computing Market Dynamics
The prominent factors steering the growth of the global edge computing market include the high penetration in the adoption of such technology by telecommunication organizations and the increasing digital transformation, which results in the implementation of IoT across different companies. In addition, the continuous rise in connected devices across the globe and the population inclined towards the use of high-performance smartphone apps; are some other factors mushrooming the Market during the forecast period. Edge computing provides various remarkable advantages like real-time or faster data processing & analysis, decreased network traffic, curtailed costs, and enhanced application efficiency.
All these benefits are surging edge computing market share. Moreover, the rising penetration of autonomous vehicles across several countries and the ability of edge computing to expedite effective data management are the vital drivers burgeoning the Market’s growth. As per the edge computing market analysis, the factors responsible for hampering the edge computing market size include the growing concerns related to the privacy and safety of the data and the availability of complex infrastructure of the edge computing network.
Edge Computing Market Segmentation
Component Market Drivers
Based on the component, the hardware segment is projected to increase at a higher CAGR during the forecast period attributed to the expansion in the application of hardware components like gateways, routers, and sensors by technologies including EDC and AMR. In addition, the edge computing market forecast shows that the high penetration for innovative technologies like artificial intelligence and machine learning across several verticals resulted in the rising inclination towards the use of high-performance, boosting the segment growth.
Organization Size Market Drivers
The large enterprise segment is expected to grow at a higher CAGR over the forecast period. It is attributed to the high demand for edge computing solutions due to a rise in the requirement for comparing the large volume of data generated by these enterprises.
Based on the region, the Asia-Pacific region is expected to rise at a faster CAGR throughout the forecast period due to the rising penetration of edge computing solutions amongst several countries like India, China, and Japan. Furthermore, the growing adoption of multiple innovative technologies, including the increasing use of connected infrastructure and IoT across the Asia Pacific and the rising small & medium-sized enterprises, are a few other factors encouraging the Market’s growth in the region.
Edge Computing Market Segmentation
Market Segmentation by Component
Market Segmentation by Application
- Industrial Internet of Things
- Smart Cities
- Content Delivery
- Remote Monitoring
- Augmented Reality & Virtual Reality
Market Segmentation Organization Size
- Small & Medium-Sized Enterprises
- Large Enterprises
Market Segmentation by Vertical
- Energy & Utilities
- Government & Defense
- Retail & Consumer Goods
- Media & Entertainment
- Healthcare & Lifesciences
- Transportation & Logistics
Market Segmentation by Region
- Rest of Europe
- Rest of APAC
- South Africa
- Saudi Arabia
- Rest of world
Introduction of GMI Research
GMI Research is a market research and consulting firm that provides market insights and intelligence across 12 major sectors, helping our clients make effective investment and business decisions.
Company Name: GMI RESEARCH Contact Person: Sarah Nash Email: [email protected] Phone: Europe – +353 1 442 8820; US – +1 860 881 2270 Address: Dublin, Ireland Website: www.gmiresearch.com
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: [email protected]
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland