According to a research report published by Azoth Analytics in December 2022, the Global Edge Computing Market was valued at USD 22.85 Billion in the year 2021. The edge computing market is highly dynamic, fueled by a growing range of use cases with key service requirements, such as low latency performance, reduced bandwidth demands, and data security and sovereignty. Edge computing brings processing capabilities closer to the end user. Demand for new applications means the time is ripe for edge – consumers want low latency for real-time experiences and enterprises require local processing for secure and resilient operations.
The market expansion can be attributed to the development of technology, the rise in enterprise clients, large-scale investments, the expansion of BYOD usage in recent workplaces, and rising latency connectivity need. Companies around the world use key strategies such as Component launches, business expansions, mergers and acquisitions, patents and approvals, agreements and collaborations.
In terms of applications, the IIOT (Industrial Internet of Things) segment dominated the edge computing industry. Industrial Businesses have adopted edge computing at a quicker rate in order to improve IOT device interoperability, lower unexpected downtime challenges and enhance production efficiency.
The quick processing power of edge devices will drive everything, including remote work and commutes to the workplace. Edge computing and 5G are opening a world of new revenue opportunities across manufacturing, transport, gaming and more.
Scope of the Report
- The report presents the analysis of the Edge Computing market for the historical period of 2018-2021, the estimated year 2022 and the forecast period of 2023-2028.
- The report analyses the Edge Computing Market by Value (USD Billion).
- The report analyses the Edge Computing Market by Component (Hardware, Software, Service)
- The report analyses the Edge Computing Market by Application (IIOT, Remote Monitoring, AR and VR, Content Delivery, Others (Video Analytics, Autonomous - in Vehicles, Drones, Gaming)
- The report analyses the Edge Computing Market by End-User (BFSI, Retail & Consumer, Healthcare and Life Sciences, Industrial, Energy and Materials, Telecommunications, Others (Agriculture, Transportation & Logistics, Datacenters, Smart Cities, Smart Homes, Smart Buildings))
- The Global Edge Computing Market has been analysed by countries (United States, Canada, Mexico, Brazil, Germany, United Kingdom, France, China, Japan, South Korea)
- The attractiveness of the market has been presented by region, by Component, Application and End-User.
- Also, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.
- The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include – Microsoft Corporation, SAP SE, Cisco Systems, Inc., Amazon.com, Inc., ABB, Huawei Technologies Co., Ltd., Rockwell Automation, Inc., Honeywell International Inc., General Electric Company, Hewlett Packard Enterprise.
Key Target Audience
- Software Industry
- Consulting and Advisory Firms
- Government and Policy Makers
- Regulatory Authorities