A Quick Overview of Edge Computing Market
The key object of this report on the Edge Computing Market is to offer worthy data and a geographical perspective for predictions of market growth in the future. The recommendations added in this detailed report are insightful, and actionable offering a deep understanding of the industry. Moreover, it includes a comprehensive importance of aspects that have impacted the industry.
MarkNtel Advisors has recently studied an extensive market intelligence evaluation on the Edge Computing Market. Also, the newly released report exhibits an engaging format that comprises compelling graphs, tables, charts, and figures as well. These seamlessly combined visual aids are designed to support the clarity and accuracy of the details presented, offering analysts a deep knowledge of the topic at hand.
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Edge Computing Market Scenario:
The Global Edge Computing Market size was valued at USD 50.5 billion in 2022 and is estimated to grow at a CAGR of around 30% during the forecast period, i.e., 2024-30. The market ascension is attributable to surging government investment in smart city projects, the rising adoption of smart devices and connected vehicles by consumers, and the rollout of super-fast networking technologies, such as 5G wireless technology. Besides these, the increasing influx of funding by the edge computing companies to launch products such as home security cameras that use edge computing, cloud gaming consoles, and autonomous vehicles has further expanded the edge industry in recent years.
Edge Computing Market - Industry Dynamics, Size, And Opportunity Forecast To 2030:
Market Driver - Growth of 5G Networks Augmenting Edge Computing Industry
Compared to earlier generations of mobile networks, 5G networks offer significantly faster data transfer rates, reduced latency, and improved network dependability. This makes data transfer between edge devices and centralized data centers more effective and seamless. The demand for edge computing solutions to handle and analyze the massive amounts of data created by IoT devices, smart sensors, and other connected devices at the edge of the network is rising as 5G becomes more widely used.
By processing data locally and eliminating the need to transport massive amounts of data back and forth to centralized servers, edge computing helps to relieve network congestion. Consequently, the infrastructure required to cloudedge support cutting-edge technologies like augmented reality, driverless cars, and smart cities is made possible by the combination of 5G and edge computing, fueling the revenue growth of the Global Edge Computing Market.
Edge Computing Market Segmentation Analysis:
Edge Computing Industry, analyzes, identifies, and highlights the main trends and drivers which are affecting each segment of the market. The market has been further divided into the following categories:
By Component
- Solution
- Hardware
- Sensors/Routers
- Edge Nodes/Gateways
- Software
- Platforms
- Hardware
- Services
By Application
- Connected Vehicles
- Smart Devices
- Remote Monitoring
- Industrial Internet of Things
- Augmented & Virtual Reality
- Smart Cities
- Content Delivery
- Others
By End Users
- Energy & Utilities
- Healthcare & Lifesciences
- Transportation & Logistics
- Manufacturing
- Retail & Consumer Goods
- IT & Telecom
- Government & Defense
- Others
By Organization Size
- Small
- Medium
- Large
By Region
- North America
- South America
- Europe
- Middle East & Africa
- Asia-Pacific.
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Who are the Key Market Players in the Edge Computing Market?
In the fast-changing Edge Computing Market, understanding what our competitors are doing is crucial. By carefully analyzing things, we figured out some of the dominating players in the industry. So, the top companies of the Edge Computing market ruling the industry are:
List of Key Companies Profiled:
- IBM Corporation
- Amazon Web Services
- Cisco Systems, Inc.
- Huawei Technologies Co. Limited
- ABB Group
- Intel Corporation
- Microsoft Corporation
- SAP SE
- Hewlett Packard Enterprise Development LP
- AT&T Inc.
- Rockwell Automation Inc.
- Atos SE
- Digi International Inc.
- General Electric Company
- ADLINK Technology Inc.
Global Edge Computing Recent Development:
- In February 2023: Cisco Systems Inc. introduced Cisco Edge Intelligence, a technology that enhances data governance and management and extracts smart insights from networked assets to boost an organization's competitiveness.
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