Global Edge Computing Market
Global edge computing market report provide a comprehensive outlook on edge computing worldwide with specific focus on key region such as North America, Europe, Asia Pacific, Latin America and MEA. The report on global edge computing market gives historical, current and future market size (US$ Mn) on the basis of component, application, organization size, verticals, and geography. This study analyses the global edge computing market dynamics in a detailed manner to identify current trends and drivers, growth opportunities and potential challenges to the key stakeholders in the operating market. In addition, PBI has analyzed the global market to better equip customers with possible investment opportunities across region and consumer unmet needs.
Global Edge Computing Market:
The size of the edge computing market is projected to increase from US$ 3.7 billion in 2020 to US$ 16.4 billion by 2026, during the forecast period, at a CAGR of 34.1%. Factors such as growing industry-wide acceptance of the Internet of Things (IoT), growing demand for low-latency processing and real-time, automated decision-making solutions; and the need to address growing data volumes and network traffic exponentially. In addition, it is anticipated that the advent of autonomous vehicles and connected car networks and the need for lightweight frameworks and systems to increase the efficacy of edge computing solutions would create ample opportunities for vendors of edge computing. While in many applications, edge computing is used, the high initial costs and maintenance costs act as the impeding factor for the edge computing market. In addition, edge computing forces organizations to deal with the same network security models and physical security criteria for more remote servers where safety footprints and traffic patterns are open to all, thus hindering and challenging the security of the database.
Growing demand for IoT in various industries:
In order to drive the market, the jobs of IoT in various industries such as automobile, manufacturing, retail , transportation, electricity and so on has been evaluated. In these industries, IoT is used as it provides real-time data, enhances operational efficiency, output optimization, and other benefits that impact the industry’s efficiency and further contribute as the driving force for the edge computing market. G.E reported that industrial IoT employment has a 44 percent effect on global energy consumption. The use of IoT in industries is therefore evaluated as a driving factor for the market for edge computing.
North America dominates the share in global edge computing market:
In 2019, North America accounted for the highest sales share of more than 46%. Edge computing integration with the Industrial Internet of Things (IIoT) has enabled U.S. manufacturers to migrate to wired factories. In addition, the emergence of several start-ups that provide platforms for the creation of an edge-enabled solution is driving the region’s industry growth. Telecom companies in Canada, for example, such as Telus Communications, are partnering with MobiledgeX, Inc. to create the MobiledgeX Early Access Program, which is intended to allow developers in a low latency environment to build, experiment, and test the efficacy of edge-enabled apps.
Key players profile in global edge computing market include-
- Dell Technologies
- Litmus Automation
- FogHorn Systems
- Digi International
- Saguna Networks
- Juniper Networks
- In March 2020, Google Cloud and AT&T announced a collaboration to help enterprises take advantage of Google Cloud’s technologies and capabilities using AT&T network connectivity at the edge, including 5G.
- In March 2020, Microsoft announced the acquisition of Affirmed Networks, which is a startup that offers fully virtualized cloud-native mobile network solutions.
Key findings of report:
- Global edge computing market expanding at significant CAGR over 2020 to 2026 owing to growing industry-wide acceptance of the Internet of Things (IoT), growing demand for low-latency processing and real-time, automated decision-making solutions, and the need to address growing data volumes and network traffic exponentially.
- North America accounted for larger share of market revenue based on the region and projected a gain in market revenue over a forecast period.
- Players focusing on innovation of technologies and collaboration strategies to retain market position in global market.
Key features of the report:
- The report provides granular level information about market size, regional market share, historic market (2015-2019) and forecast (2020-2026).
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market.
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market.
- The report provides plethora of information about market entry strategies.
- Smart Cities
- Industrial Internet of Things (IIoT)
- Remote Monitoring
- Content Delivery
- Augmented Reality (AR) and Virtual Reality (VR)
- Small and Medium Sized Enterprises (SME’s)
- Large Enterprises
- Energy and Utilities
- Government and Defense
- Media and Entertainment
- Retail and Consumer Goods
- Transportation and Logistics
- Healthcare and Life Sciences
- Rest of Europe
- Southeast Asia
- Rest of APAC
- Rest of SA
- Saudi Arabia
- South Africa
- Rest of MEA