Microsoft Corporation (U.S.), Amazon.com, Inc. (U.S.), SAP SE (Germany), Alphabet Inc. (U.S.), General Electric Company (U.S.), Aricent (U.S.), IBM Corporation (U.S.), Huawei Technologies Co., Ltd. (China), Integrated Device Technology, Inc. (U.S.), Nokia Corporation (Finland), and Intel Corporation (U.S.) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Edge Computing Market.
Edge Computing Market Overview
The Global Edge Computing Market is growing with the rapid pace majorly due to the rapid growth in the technology and increasing demand of IoT. According to a recent study report published by the Market Research Future, the global market of Edge Computing is booming and expected to gain prominence over the forecast period. The global Edge Computing Market is anticipated to accrete to USD ~$33.75 Billion by 2023, at a staggering double digit CAGR of ~35.0% between 2017 and 2023.
The advantage of the edge computing that includes push applications, data transfer and services to devices at the edge of networks that helps to reduce transmission costs, shrink latency and improve user experience. A recent trend of real time reporting is boosting the Edge Computing market. Edge Computing market as the service can also be deployed on the edgeOS for better management and delivery are major factor to market growth.
The study also signifies that The Edge Computing market is expected to grow at a high rate as the researchers have built the proof-of-concept platform to run face recognition application. By moving computation from cloud to the edge, the response time is reduced from 900 to 169 ms which has huge effect on improvement, operation optimization, unplanned downtime reduction, and high cost savings.
The study indicates that Edge Computing is growing due to the factors that includes temperature, vibration, sound, motion or location and read information embedded in bar codes, strips, and chips. The increasing demand of Internet of things that has increased the response times of a minute or less for many important applications, including power production from solar facilities, driverless cars, smart lighting, security cameras, as well as monitoring ill patients.
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The Edge Computing is a method of utilizing cloud computing by analyzing and processing the data at the edge of the network. This approach requires the resources such as laptops, smartphones, tablets and sensors that may not be continuously connected to the network. The computer industry shifts back and forth from centralized computing, which has lots of power but is far away from the person or device using it, to local computing, close to the action but messy and hard to harness all of its capacity. For instance, mainframes (centralized computing) gave rise to PCs, client/server (decentralized), which gave rise to the cloud (centralized). So decentralized is due next. This is the breathing in and breathing out of computer industry.
Edge Computing Market – Competitive Analysis
Characterized by the presence of several major well-established players, the global Market of Edge Computing appears to be highly fragmented and competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain competitive advantage in this market and to maintain their market position. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. The Key players operating in the market compete based on pricing, technology, reputation and services.
Edge Computing Market – Segments
Edge Computing Market can be segmented in to 6 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Technology: Comprises Mobile Edge Computing, Fog Computing.
Segmentation by Deployment: Comprises On-premises and on Cloud.
Segmentation by Component: Comprises Hardware, Software, Service.
Segmentation by End Users: Comprises Healthcare, Public Safety, Connected Vehicles, Location Based Service, Education, Gaming.
Segmentation by Applications: Comprises Environment Monitoring, Optimized Local Content, Data Caching, Video Computing, Location Service, Internet of Things.
Segmentation by Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
Looking through the end-user segment it has been observed that the edge computing is considered perfect for building a smart home, has shown a tremendous growth Edge Computing and holds the largest market share. The analysis indicates that the other sectors like telecommunication and IT would be considering next for Edge Computing for their regular use and would show a positive growth in this market as IoT can be connected and managed easily at the network and the data can be processed locally to release the burdens for Internet bandwidth.
Edge Computing Market – Regional Analysis
The regional analysis of Edge Computing Market is being studied for region such as Asia pacific, North Americas, Europe and Rest of the World. The study signifies that the market of Edge Computing is trending in North America region. The rapid growth in the technology and increasing demand of IoT is fuelling the Edge Computing market in North America. The study reveals that Europe region is also showing the positive sign towards edge computing at a very rapid pace in the Edge Computing Market as it allows business data to be dynamically distributes across a device network and supports edge Computing. Asia-Pacific countries like China, Japan and India have shown considerably fair share of market in the Edge Computing Market but will be growing fast in coming time.
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