Edge Computing Market Overview:
The global edge computing market is predicted to grow at a 27.3% CAGR over the forecast period (2018-2023), reveals the new Market Research Future (MRFR) report. Edge computing simply put, is an open, distributed IT architecture which features decentralized processing power, allowing internet of things technologies and mobile computing. Data in edge computing is processed through a local server or computer or the device itself, instead of getting transmitted to the data centre. Edge computing functions in an individual device, plant level, or fleet.
The function of edge computing until recently has been mostly used to ingest, filter, store, and send data to the cloud system. But today, these systems have higher compute, analytic power, and storage for consuming and acting on the data in the machine network. In recent years, it has developed as a promising technology with the proliferation of various smart IoT applications, especially in autonomous vehicles along with other industrial use cases (computation-sensitive), which need low-latency data processing.
Near real-time or real-time data analysis, lower operating costs, reduced network traffic, and improved application performance are some of the key benefits that are likely to make edge computing a mainstream technology in the upcoming years.
Various factors are driving the growth of the Edge Computing Market. These factors, in accordance with the Market Research Future (MRFR) report, include growing emphasis on process automation and cost reduction, the rise of cloud computing, IoT, and other technologies, development of robust internet infrastructure, and increasing concerns over data security. Additional factors boosting market growth include rapid adoption of fog computing and analytic tools and the upcoming rise of the 5G network.
On the contrary, scarcity of skilled labor coupled with susceptibility of edge computing to cyber malignancy are factors that may hinder the edge computing market growth over the forecast period.
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Major Key Players:
Leading players profiled in the edge computing market report include Integrated Device Technology (US), Huawei Technologies (China), IBM Corporation (US), Aricent (US), Alphabet Inc. (US), SAP SE (Germany), Intel Corporation (US), Microsoft Incorporation (US), General Electric (US), and Amazon (US).
June 2019: Leading Chinese manufacturer as well as supplier of smart edge devices, Dusun Electron Ltd., has introduced its programmable, open source edge computing loT hubs/gateways. APIs and SDKs are offered that can be utilized to allow customers to make their programs for controlling the transfer procedure and data processing.
The Market Research Future report offers a wide segmental analysis of the edge computing market based on applications, end user, component, deployment, and technology.
- Based on technology, the edge computing market is segmented into fog computing and mobile edge computing. Of these, fog computing will have the largest share in the market over the forecast period.
- Based on deployment, the edge computing market is segmented into on-cloud and on-premises. Of these, the on-cloud segment will lead the market over the forecast period.
- Based on component, the edge computing market is segmented into software and hardware. Of these, the hardware segment will dominate the market over the forecast period.
- Based on end user, the edge computing market is segmented into healthcare and education, media, gaming, automotive, and surveillance. Of these, the surveillance segment will have the maximum share in the market over the forecast period.
- Based on application, the edge computing market is segmented into environment monitoring, analytics, data caching, and IoT. Of these, the IoT segment will have the largest share in the market over the forecast period.
Based on the region, the edge computing market report covers growth opportunities and the latest trends across the Asia Pacific, Europe, North America, and Rest of the World. Of these, North America will spearhead the market over the forecast period. This is owing to the higher adoption of various technologies in this region.
The edge computing market in the APAC region is predicted to grow at the fastest pace over the forecast period. This is owing to the robust development in media, telecommunication, gaming, and automotive industries.
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