Overview
The edge computing market has been witnessing outstanding growth over the past couple of years. This growth attributes to the omnipotent internet of things (IoT), empowering the business to grow exponentially. Companies increasingly depend on storage solutions and centralized cloud computing using IoT actuators, sensors, and other IoT devices.
However, the multiple benefits of IoT and rising uses of connected technologies and smart devices also generate extensive big data. This, as a result, makes companies look out for edge computing solutions like hyper-localized data centers, devices, and edge nodes. With the growing demand for real-time, automated decision-making solutions, the market is projected to garner substantial traction.
According to Market Research Future (MRFR), the global edge computing market is expected to gain exponential valuation by 2027, growing at a phenomenal CAGR during the assessment period (2020 – 2027). The rising need for low-latency processing and exponentially rising network traffic and data volumes boost the edge computing market share.
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Segmental Analysis
The segmental assessment of the edge computing market is conducted on the basis of technology, deployment, component, application, vertical, and region. On the basis of deployment, the edge computing market has been segmented into on-premise and cloud. Based on the technology, the edge computing market has been segmented into fog computing and mobile edge computing. On the basis of components, the edge computing market has been segmented into solutions, hardware, and software. The application-based, segmentation of the edge computing market consists of data caching, analytics, IoT, environment monitoring, location services, augmented reality, and others. Based on the vertical, the edge computing market has been segmented into hospitality, energy & utilities, healthcare, manufacturing, retail, education, semiconductor, government, transportation, IT & telecommunication, and others. Based on the regions, the edge computing market has been segmented into North America, Europe, Asia Pacific, and the rest of the global regions.
Detailed Regional Analysis
The regional investigation of the edge computing market contains regions such as North America, Europe, Asia Pacific, and the rest of the global regions. At present, the region in the North American region controls the principal market split owing to the increasing approval of edge computing amongst enterprises to accomplish condensed latency, scalability, and put into operation effective data dispensation at the edge network. The regional market in Europe was responsible for the next major market split due to increasing approval of edge computing solutions in co the UK, France, Italy, and Sweden. The Asia-Pacific regional market was responsible for the third most significant market portion and is expected to manage the maximum growth owing to the implementation of edge computing solutions in Japan, India, Australia, Singapore, South Korea, and other Asian nations. The regions of South America and the Middle East & Africa region are anticipated to achieve substantial market growth with central players focused on funding this region to offer edge computing solutions.
Global Edge Computing Market – Competitive Analysis
The edge computing market appears highly competitive and fragmented, owing to the presence of many matured players accounting for a substantial market share. Through the acquisition, strategic partnership, expansion, product/technology launch, and collaboration, these players try to gain a larger competitive advantage. Heavy R&D investments are made in developing completely different technologies compared to their competition.
Major Players
Players leading the edge computing market include Advanced Micro Devices Inc, Yokogawa Electric Corporation, ABB Ltd., Rittal GmbH & Co. KG., ZenLayer Inc., The Hewlett Packard Enterprise Company, Fujitsu Ltd., Siemens AG, Integrated Device Technology Inc., EdgeConnex Inc., eInfochips, Huawei Technologies Co. Ltd., ADLINK Technology Inc., IBM Corporation, Alphabet Inc., Schneider Electric SE, SAP SE, Microsoft Corporation, Intel Corporation, and Amazon Inc.
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Edge Computing Market Research Report: Information by Technology (Hall Effect, Magneto Resistive, Variable Reluctance), By Application (Automotive, Industrial, Aerospace & Defense, Consumer Electronics) and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America)—Forecast till 2030
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