Global Edge Computing Market is set to capture a compound annual growth rate of 27.3% between 2017 and 2023 to reach a valuation of more than USD 9,200 Mn
— Market Insights:
Market Research Future has uncovered various details about the global edge computing market in its latest report on the subject during the assessment period from 2018 to 2023. The global edge computing market is expected to grow at an impressive CAGR of 27.3% during the assessment period.
The digital revolution has driven the high adoption of cutting-edge technology which is expected to drastically improve efficiency and improve productivity across various industries. Valued at USD 2,167.8 Mn, the global edge computing market will likely grow to reach an estimated value of USD 9,219 Mn by the end of 2023.
The rise of IoT, cloud computing and other technologies have had a transformative effect across the board. IoT integration across various devices such as smartphones, smartwatches, and wearables have changed the way humans work and interact with technology. Increased efficiency in task performance is a key driver for the adoption of such technology. The evolution of technology in the IT industry in tandem with the growing adoption of cloud computing has resulted in the streamlining of work processes as well as increased flexibility as well as the speed with which tasks are performed. IoT for enterprises provides various benefits including connected devices, process automation, sensor-driven decision analytics and various others. This has resulted in high adoption rates for such advanced technologies, thus directly impacting the Edge Computing Market positively. Computing also helps mitigate security concerns in public spaces. Moreover, it can help in improving surveillance capabilities in public places. Applications for edge computing are vast, thus driving the market.
Although edge computing is fairly safe, security requires constant monitoring and updating as the sophistication of cyber attacks are growing to accommodate security measures taken by companies. Moreover, there is a dearth of appropriately skilled labor in what is an infrastructurally complex technology. However, with the upcoming rise of the 5G network, edge computing is likely to ascend to the next level as it witnesses the growth of new opportunities over the assessment period.
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Major Key Players:
SAP SE (Germany), Huawei Technologies (China), Alphabet Inc. (U.S.), Amazon (U.S.), Aricent (U.S.), General Electric (U.S.), Intel Corporation (U.S.), Microsoft Incorporation (U.S.), Integrated Device Technology (U.S.), and IBM Corporation (U.S.) are the key market participants that have been included in MRFR's analysis of the competitive landscape of the global edge computing market.
The global edge computing market has been segmented on the basis of technology, deployment, component, application, end-user, and region. Technology has been segmented to include mobile edge computing and fog computing. The latter, fog computing, represent the larger share of the two segmented due to the technology's advantage in processing data from multiple end-points. The mobile edge computing market, however, is expected to grow at an exponential pace as it is highly flexible, scalable and has a high economic scope.
Deployment has been segmented into on-premise and on-cloud. Although on-premise deployment leads to market growth, on0cloud deployment is gaining rapid popularity and is likely to grow at an impressive CAGR of 32% during the review period.
Component has been segmented to include hardware and software. The hardware segment has gained a leadership role due to the prevalence of on-premise, but with the growth of cloud computing, the software segment is expected to grow at a truly rapid pace.
Application of edge computing has been segmented into environment monitoring, analytics, data caching and IoT.
End-users of edge computing have been segmented into automotive, surveillance, gaming & media, healthcare, and education. The surveillance segment accounts for the largest share of the global market however, the automotive segment is expected to grow at the fastest pace.
Among the regions specified in the report, the North American market for edge computing is slated to be the largest during the forecast period and is followed closely by the European market.
These regions have similar growth patterns in that there are several leading market players in these regions and the demand for advanced technology as well as its adoption is high in developed economies of North America and Europe.
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Table of Contents
1. Executive Summary
2.2 Scope of The Study
2.3 List of Assumptions
2.4 Market Structure
3. Market Insight
4.1 Research Process
4.2 Primary Research
4.3 Secondary Research
4.4 Market Size Estimation
4.5 Data Collection Tools
4.6 Market Size Estimation – Top-Down & Bottom-Up Approach
4.7 Forecast Model
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List of Table
Table 1 Market Synopsis
Table 2 List of Assumptions
Table 3 Global Edge Computing Market, By Technology, 2018–2023 (Usd Million)
List of Figure
Figure 1 Global Edge Computing Market: Market Structure
Figure 2 North America Market Size & Market Share by Country (2017 Vs 2023)
Figure 3 Europe Market Size & Market Share by Country (2017 Vs 2023)
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