Demand from the Rising IoT Devices Will Help the Edge Computing Market to Grow During the Forecast Period
Growing adoption of IoT (Internet of Things) market, coupled
with increasing demand for lower latency and higher bandwidth across numerous
industries is driving the global edge computing market.
According to TechSci
Research report, “Edge Computing Market – Global Industry Size,
Share, Trends, Opportunity, and Forecast, 2018-2028F”
The global edge computing market is growing
owing to the increasing digital transformation in industries, rising
penetration of internet and mobile devices in emerging countries across the
world. Moreover, the rising adoption of Internet of Things (IoT), cloud
computing, 5G, use of real-time analytics enabled by Artificial Intelligence
(AI) and Machine Learning (ML) is expected to positively influence the global
edge computing market during the forecast period. The extensive use of edge
computing in various sectors including private organizations, government,
retail, healthcare, education, among others is anticipated to act as a catalyst
in the growth of the market globally.
Edge computing centers work on
processing and technology actions performed outside centralized data centers
and closer to the network edges. For the government, the term primarily refers
to systems that serve as intermediaries between connected endpoints and the
core IT environment. Modern government edge systems are distributed,
software-defined, and flexible. The government is uniquely positioned to offer
edge-based services across a set geographic area. Both government employees and
citizens can interact.
The severe acceleration in the request
for edge computing is expected to persist for the next three to four years,
following the COVID-19 pandemic, as the strain on expanding the core network is
not able to diminish soon. Working from home, the new normal, and the
healthcare system reaching saturation point with online consultations are
predicted to give birth to a network architecture requiring minimal
connectivity and robust security. Telecom firms are likely to seize on this
possibility since setting up advanced facilities as
well as establishing full-sized data centers will outweigh the cost of edge
facilities per unit. This financial advantage can hasten the transition of
telecom firms to large-scale data center development during the forecast period.
Browse over XX market data Figures
spread through XX Pages and an in-depth TOC on the "Global Edge Computing Market."
Based on deployment, the market is bifurcated
into on-premises and cloud. Based on component, the market is divided into
hardware, software, services and edge-managed platforms. In terms of hardware
by type the market is segmented into edge nodes/gateways (servers),
sensors/routers and others, while in terms of hardware by end point devices the
market is divided into cameras, drones, HMD, robots and others. Based on
organization size the market is segmented into large enterprises and small
& medium enterprises. Based on application, the market is split into IoT,
remote monitoring, content delivery, video analytics, AR/VR and others. Based on
industry vertical, the market is segmented into industrial, energy &
utility, healthcare, agriculture, transportation & logistics, retail,
datacenters, wearables and smart cities, homes & buildings. On the basis of
region, the market is divided into North America, Europe, Asia-Pacific, South
America, and Middle East & Africa.
Service providers are spending a lot of
money on evaluation and analysis of the computing technology to improve the
service offerings and services for the edge computing services across the globe.
Operational effectiveness, technological advancements, and performance
optimization are all products of R&D activities. One of the main factors
driving the expansion of the market for Edge Computing is the rise in demand of
the IoT devices across the globe.
Key market players in the Edge Computing
market include:
Cisco Systems Inc.
- Microsoft Corporation
- International Business Machines Corporation
- Instant Data Centers
- Fujitsu Limited
- Amazon Web Services
- Nokia Corporation
- AT&T Inc.
- Huawei Technologies Co. Ltd.
- FogHorn Systems Inc.
The sensormatic video-based AI solution
based on edge computing technology offered by Intel helped various retailers in
opening stores during the COVID-19 pandemic by tracking and monitoring, while
maintaining social distancing.
The ViewSonic digital whiteboard
experience offered by Intel uses vision and edge technology to create the
classroom experience for students and teachers who can engage in distance
learning. Philips enhanced AI inference for medical imaging by 188% on current
CT scan equipment using edge computing technology.
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“Ongoing advancements in edge computing
with multi-functional edge computing approaches which is expected to break the technological barriers between the service providers
are boosting the global edge computing market during the forecast period.
The extensive need for security and storage of data for
gaming services from the computing along with the entertainment services such
as music and movies are a boosting factor for the market globally. Moreover,
supportive government policies for edge computing services all over the globe
with emerging technologies has also been positively influencing the market with
a continuous urge for launching new service plans in the upcoming years,” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
“Edge
Computing Market By Deployment (On-Premises, Cloud), By Component
(Hardware(Hardware By Type (Edge Nodes/Gateways (Servers), Sensors/Routers,
Others) Hardware By End Point Devices (Cameras, Drones, HMD, Robots, Others),
Software, Services, Edge-managed Platforms), By Organization Size (Large
Enterprises, Small & Medium Enterprises), By Application (IoT, Remote
Monitoring, Content Delivery, Video Analytics, AR/VR, Others), By Industry
Vertical (Industrial, Energy & Utility, Healthcare, Agriculture,
Transportation & Logistics, Retail, Datacenters, Wearables, Smart Cities,
Homes & Buildings), By Region, Competition”, has
evaluated the future growth potential of edge computing and provides statistics and information on market structure, size, share,
and future growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the Global Edge Computing Market.
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