Edge computing is in the realm of real-time analytics for the Internet of Things (IoT). Processing data locally on edge devices rather than relying solely on centralized cloud servers, edge computing significantly reduces latency. This is particularly vital in scenarios where immediate decision-making is imperative, such as autonomous vehicles or smart city infrastructure. Edge computing enables rapid analysis of data generated by IoT devices at the source, ensuring timely responses and enhancing overall system efficiency, reliability, and security.
According to Data Bridge Market Research analyses, the Global Edge Computing Market was valued at USD 1,980.11 million in 2022 and is expected to reach USD 3,257.77 million by 2030, registering a CAGR of 8.6% during the forecast period of 2023-2030
"Rise in technical advancements boosts the market growth"
Technological advancements are a key driver propelling the global edge computing market forward. Ongoing enhancements in tablet technology, marked by faster processors, improved touchscreens, and advanced software functionalities, contribute to development of sophisticated and feature-rich tablet kiosks. Continual innovations in payment systems, connectivity options, and software applications create fresh avenues for interactive self-service solutions.
What restraints the growth of the global edge computing market?
“High costs and initial investment the market growth”
The high cost and initial investment significantly restrain the global edge computing market. Enterprises may be deterred by the substantial upfront expenses associated with deploying edge computing solutions. This financial barrier can limit the adoption of edge computing technologies, particularly for smaller businesses, hindering the widespread implementation of these advanced and transformative solutions in the market.
Segmentation: Global Edge Computing Market
The global edge computing market is segmented on the basis of component, technology, application, organization size, and vertical.
- On the basis of component, the global edge computing market is segmented into hardware, gateways, micro data center, platform, solution, and services
- On the basis of technology, the global edge computing market is segmented into mobile edge computing and fog computing
- On the basis of application, the global edge computing market is segmented into smart cities, location services, analytics, environmental monitoring, optimized local content, data caching, augmented reality, and others
- On the basis of organization size, the global edge computing market is segmented into small and medium-sized enterprises and large enterprises
- On the basis of vertical, the global edge computing market is segmented into manufacturing, healthcare, transportation, government and public, media and entertainment, energy and utilities, telecom and IT, retail and others
Regional Insights: North America is expected to dominate the Global Edge Computing Market
North America is expected to dominate the global edge computing market, driven by integrating edge computing with the industrial Internet of Things (IoT). U.S. manufacturers, focusing on connected factories, contribute to this dominance. The region benefits from the rise of startups offering platforms for edge-enabled solutions, further propelling market growth.
The Asia-Pacific is expected to experience the fastest growth in the global edge computing market, attributed to advancing AI technologies. Microsoft Corporation's research labs in China and India significantly contribute to this growth. The synergy of IoT device management and edge computing leveraging 5G networks further fuels the market's expansion in this dynamic region.
To know more about the study, visit: https://www.databridgemarketresearch.com/reports/global-edge-computing-market
Recent Developments in the Global Edge Computing Market
- In March 2023, Huawei Technologies Co., Ltd., a leading global technology company, unveiled its cutting-edge edge computing solution, "Huawei Edge Fabric." This innovative solution specifically empowers industries by providing advanced connectivity and intelligence. Huawei Edge Fabric serves as a versatile and efficient platform for enterprises, facilitating the seamless deployment and management of edge applications
- In June 2023, IBM Corporation announced the launch of its latest offering in the field of edge computing, introducing "IBM Edge Solutions." This comprehensive solution is strategically crafted to empower enterprises, unlocking the potential of edge computing and facilitating digital transformation. IBM Edge Solutions comprises a robust suite of cutting-edge technologies and services aimed at accelerating the widespread adoption of edge computing across various industries
The Prominent Key Players Operating in the Global Edge Computing Market Include:
- Nokia (Finland)
- Huawei Technologies Co. Ltd. (China)
- Juniper Networks Inc. (U.S.)
- Dell (U.S.)
- Cisco (U.S.)
- Hewlett Packard Enterprise Development LP (U.S.)
- SixSq Sàrl (Switzerland)
- FogHorn Systems (U.S.)
- Vasona Networks Inc. (U.S.)
- MachineShop Inc. (U.S.)
- Saguna Networks Ltd. (Israel)
- Vapor IO (U.S.)
- Violin Systems LLC (U.S.)
- Aricent Inc. (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global edge computing market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Edge Computing Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
