Edge Computing Market by Component (Services, Solution, Platform, Software, Hardware), Industry Vertical (Smart Cities, Wearables, Datacenters, Retail, Transportation, Logistics, Agriculture, Healthcare, Energy, Utilities, Industrial), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027
Newark, NJ, June 23, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global edge computing market is expected to grow from USD 2.8 billion in 2019 and to reach 18.36 billion by 2027, growing at a CAGR of 26.5% during the forecast period 2020-2027.
Edge computing is distributed computational process of sensor data away from central nodes and near to the logical edge of the network, relating to individual data sources. It can be referred to as the distributed IT network architecture that able to do mobile computing of locally produced data. Instead of transfer data to cloud data centres, superior computing decentralizes processing power to ensure real-time processing without latency while dropping bandwidth and network storage requirements.
It is a relatively new model that aims to bring the computational power closer to connected technologies, IoT sensors and smartphones. In the 1990s, the famous Akamai had cleared up the problem of traffic obstruction on the web by presenting the Content Delivery Network (CDN) solutions. Technology included network nodes that store cached media information in locations closer to end-users. Advanced computing brings this concept even further and provides computing capabilities in the contract at the edge of the network to process information and deliver services.
Global edge computing market IS witnessing the tremendous demand, due to rising in the use of IOT throughout the industry. An increase in demand for quick and real-time decision-making solutions across the globe is fuelling the growth of edge computing market. The acceptance of advanced and new technology in the telecom industry is expected to create new opportunities in the edge computing market. The growing demand for automated vehicles is going to create more opportunity in the future for the edge computing market. The high infrastructure cost of edge computing is hampering the market growth of global edge computing market. Furthermore, the edge notes vulnerability issues is going to restrict the growth of edge computing market, in the near future.
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Key players operating in the global edge computing market include Cisco, Amazon Web Services (AWS), Huawei, General Electric Company, Nokia, IBM, Intel, Machineshop, Microsoft Corporation and Litmus Automation among others. To increase their market position in the global airport catering trucks market, the key players are now focusing on adopting strategies such as recent developments, product innovation, joint ventures, mergers & acquisitions, collaborations, and partnerships. Significant firms are increasingly investing in research and the development activities and development of newer products.
- For instance, in April 2018, Nokia has launched the Edge Cloud data centre solution, the first of its kind in the 5G era to support consumer applications and industrial automation. AirFrame's open cloud infrastructure has been developed for the 5G era as next-generation wireless technology will provide operators with more opportunities for consumers and industries to support advanced applications such as virtual and custom video and industrial automation in real-time. Technologies such as Cloud RAN will be vital to delivering on 5G's promise to reduce response time and significant data productivity while supporting highly efficient cloud infrastructure solutions as well.
- In May 2019, Atos, one of the major market players in digital transformation, has launched a top-performing and advanced computing server BullSequana edge on data management. The BullSequana Edge is designed to be used safely for IoT, in environments where rapid response times are vital and composite, such as manufacturing, healthcare, autonomous vehicles, and retail/airport security, where data should be adequately analyzed and processed sideways in real-time. Embedded BullSequana Edge server safely manages IoT data, close to the source where it is generated, so that it is processed immediately.
Hardware component section is likely to grow at the highest CAGR of 42.7% over the forecast period
Based on component, the global edge computing market is segmented into services, solution, platform, software and hardware. The hardware section is likely to grow at the highest CAGR of 42.7% over the forecast period, due to the computerized operation and decentralized storage processes of the wide distribution of hardware components. It allows lessening the network traffic and configuring the superior infrastructure. Businesses are making cutting-edge computing devices available that act as gateways and servers, as well as a crucial data source. It also serves as local data centres and storage in the superior computing process.
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The transportation segment accounted for the largest market share of around 32.57% in the year 2019
The industry vertical segment is classified into smart cities, wearables, data centres, retail, transportation, logistics, agriculture, healthcare, energy, utilities and industrial. Transportation section held the largest market share of 32.57 in 2019, owing to increased investment by key players in rapidly changes technologies to drive growth in the edge computing market.
Regional Segment Analysis of the Edge Computing Market
- North America (Canada , U.S., Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (India , Japan, China, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (South Africa, UAE, Rest of MEA)
The geography segments of global edge computing market classified into Asia Pacific, North America, South America, Europe and Middle East and Africa. North America region is likely expected to hold the largest market share in the global Edge Computing Market. The North America region is held the largest market share of 42.32%, due to increasing technology acceptance and adequate presence of vendors in North America. In addition, the sector is growing continuously due to the increasing demand for fully automated and connected vehicles.
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About the report:
The global edge computing market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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