GMI Research report conjectures that the Edge Computing Market will complement at a notable rate over the forecast period. This is primarily because of the accelerating number of smart applications, growing perforation of sophisticated technologies, emergence of 5G network, and several schemes for internet of things solution. Edge computing helps real-time software in interpreting and processing the cumulated information and data which further stimulates the edge computing market growth.
Introduction of the Edge Computing Market
Edge computing refers to a network ideology that focuses on leading the way of computing near to the data source as possible to reduce intermission and bandwidth usage. It means operating small number of procedures in the cloud and transferring them to the local places, such as user’s computer, an edge server, and 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 augmenting espousal of edge computing technology by the telecommunication companies and the accelerating seepage of digital modification have raised the execution of IoT across various organizations are the two forces stimulating the growth of the global edge computing market. In addition, the surge in the number of connected devices across the nation and the drift of population towards the application of better quality smartphones will supplement the market growth. Edge computing proffers several advantages such as actual time or quick data interpretation & processing, less costs, raises effectiveness of application, and decreased network traffic will supplement the market growth. Thus, all these benefits will complement the market growth.
Edge computing helps real-time software to analyze and process the collected data. Besides this, the surge in the number of mechanized automotive and the capability of edge computing to allow efficient management of data has significantly fueled the market share. Moreover, the widespread evolution of the coronavirus left a huge impact on the market. The increase in the need to offer précised and real time insights with effective recognition and isolation has stimulated the deployment of edge computing in artificial intelligence.
Simultaneously, the ability of edge computing to raise network speed, alleviate the transmission capacity, and reduce the agitation towards data safety has bolstered the market growth. This huge growth in edge computing is likely to continue after coronavirus. This is because work from has become new normal for the nation and the medical industry prefers to reach major population with online consultancy. Thus, all this will raise the need for highly secure network with low latency. However, according to the edge computing market global forecast, the increasing agitation towards data safety and confidentiality and the prevalence of complicated infrastructure of the edge computing will restrain the market growth.
Component Segment Analysis
As per the component, the hardware segment is projected to expand at a higher rate over the coming years. This is because of the aggravated usage of hardware components such as gateways, sensors, and routers by technologies like EDC and AMR. In addition, the increasing inclination towards the usage of better performing hardware components because of the aggravating usage of sophisticated technologies such as machine learning and artificial intelligence across different verticals will bolster the market growth.
Vertical Segment Drivers
According to the vertical segment, the IT & Telecom sector is likely to lead the global edge computing market by seizing the largest share. The edge computing market is also expected to earn the highest amount of revenue during the forecast period. The increasing espousal of edge computing in the Information technology and telecommunication sector is primarily because of the growing demand for high-speed service by customers.
Organization Size Segment Drivers
Based on organization size, the large enterprises segment is expected to perceive a substantial growth over the coming years. This is due to the rising demand for these solutions as a result of the surge in the need of comparing the massive volume of data produced in these enterprises.
Based on the regional coverage, the Asia-Pacific region is anticipated to increase at a faster rate over the coming years. This is because of the accelerating seepage of the edge computing solutions across several nations like China, Japan, and India. Moreover, the surging endorsement of several sophisticated technologies such as the accelerating number of Internet of Things and connected infrastructure as well as the mounting number of small & medium-sized enterprises will drive the market share.
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