The Edge Computing Market report clarifies
definition, an investigation of significant progress in the market. It discusses
the primary growth drivers and challenges that the vendors and the industry as
a whole face and provides an overview of the key trends emerging in the market.
It also talks about the market size of various segments and their growth
aspects along with leading countries in Americas, Asia-Pacific, Europe, the
Middle East, and Africa regions.
The global edge computing market size is expected to value at USD
3.24 billion by 2025 during the forecast period. The market is subject to
witness a substantial growth in upcoming years due to the advent of intelligent
devices, for example, smart glasses and smart watches. Edge computing performs various business processes such as
accumulating, evaluating, and stacking real time data generated by the IoT
devices. Moreover, growing web users and rising implementation of digital
services are propelling the growth of the market in recent years. Higher
consummation of data services is likely to spur edge computing industry
expansion with increase in the adoption of edge computing as a service.
Globally, the edge computing market is predicted to grow at CAGR of 41.0% in
forecast period, providing numerous opportunity for market players to invest
for research and development in this market.
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Key Questions Answered
·
What are the sales or revenue produced
by Edge Computing products beyond all sectors during the forecast
period?
·
What are the key trends in the Edge
Computing market?
·
What are the leading drivers, limitations,
and probabilities in the industry?
·
Which segment will gain the
highest revenue worldwide and which product segment will expand at the fastest
CAGR during the forecast period?
·
In which region the Edge
Computing market to project lucrative CAGR during the forecast period?
Growing
focus on the reduction of cost and timely delivery, surging IoT data, need for
automating business processes, and escalating business competitiveness are
majorly attributing towards growth of the edge computing industry. The adoption
of the edge commuting in business process allows organizations in obtaining
real-time insights to improve the efficiency of the decision-making algorithm
to maximize profit margin. Though, data privacy and security issues are major
deal breaker as they are hampering the market growth.
Edge
computing helps users to process data generated by internet of things (IoT)
devices rather than transmitting data across long distant data centers or cloud
servers for processing. Adoption of such type of computing technique at close
proximity of the network infrastructure allows organizations to analyze crucial
data set in real time. Application of the edge commuting varies across
different industry segments such as production, healthcare, telecommunications
and finance.
Edge
computing is termed as a mesh network consisting of micro data centers that are
capable of processing vital data sets locally while transmitting rest of it to
a centralized data center or cloud storage stations, which is located at a
close proximity. The use of IoT technology in edge devices helps collection of
vast set of data and transmission to the centralized to a data center for
processing. Edge computing processes critical set of data eventually reducing
the backhaul traffic from the centraldata center.
IoT
devices transfers data to the micro data centers located nearby that are
capable of performing set of operations such as computation, storage and
provide network accessibility. Processed data is transmitted from micro data
center to the central processing facility or storage repository in an
Infrastructure as a service(IaaS) cloud. Edge computing are considered as
standard choice of technology under a variety of circumstances. Common reasons
for the use of edge computing technology is poor connectivity of IoT devices
with a central clod unit and substantial the backhaul traffic from the central
data center. Adoption of edge computing also solves issues related to the
latency-sensitive processing of data.
Numerous
benefits of edge computing include decline in the volumes of data, decrease in
the resulting traffic, and the reducing need for transmission of excess of
data. Alongside, other advantages such as reduction in transmission cost, lower
bandwidth, high level of performance and improved standard of service or QoS.
Edge computing completely diminishes the core computing atmosphere by removing
a chief bottleneck or a possible single point of failure in the network.
The
edge computing industry is divided into regional market segment such as North
America, Europe, Asia-Pacific, Latin America and Africa. North America has
shown major growth in the edge computing market over recent years owing to the
rise implementation of latest technologies and existence well-established
technology infrastructure. Asia-Pacific region is predicted to hold major
market share in the edge computing industry with massive growth in forecast
period. Countries such as India, China and Singapore are leading the
Asia-Pacific market with number of government initiatives to encourage
digitization need for advanced infrastructure and increase in investment by
market players due to potential opportunities in the region.
The key players in edge computing market are Amazon Web Services
(AWS) Inc., Cisco Systems Inc., General Electric SE, HP Enterprise, Huawei
Technologies Corporations, and International Business Machines (IBM) Co.
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