January 29, 2021
As per the business intelligence report titled ‘Global Edge Computing Market Analysis, 2020’, available with Market Study Report LLC, worldwide edge computing market is anticipated to expand at 30% CAGR over 2020-2025.
Emergence of connected vehicles, widespread adoption of smart devices, and government investment towards development of smart cities as well as 5G wireless infrastructure are bolstering the growth of global edge computing market.
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Notably, edge computing involves usage of internet of things technology with artificial intelligence to capture, store, process, and analyze data close to the source. Incorporation of remote monitoring module, affordability of computation mediums and hardware components, alongside vendors emphasis on developing and introducing home security cameras with advanced features are augmenting global edge computing industry outlook.
Based on component terrain, the market is divided into solution, and services. The report cites that solution segment, which comprises of hardware, software, and platform, led the worldwide edge computing market forecast in 2019. Adoption of cloud-based applications across energy & utility sector, and declining cost of hardware components like router gateways, and sensors, in consort with huge spending on integration of IT/OT solutions among enterprises, and launch of edge computing platform are impelling the segmental share.
Moving on to application scope, global edge computing market is segmented into content delivery, smart cities, augmented & virtual reality, industrial internet of things, remote monitoring, smart devices, connected vehicles, and others. While various end-users are government & defense, IT & telecom, retail & consumer goods, manufacturing, transportation & logistics, healthcare & lifesciences, energy & utilities, and others.
Companies influencing worldwide edge computing market trends are ADLINK Technology Inc., General Electric Co., Digi International Inc., Atos SE, Rockwell Automation Inc., AT&T Inc., Hewlett Packard Enterprise Development LP, SAP SE, Microsoft Corp., Intel Corp., ABB Group, Huawei Technologies Co. Ltd., Cisco Systems Inc., Amazon Web Services, and IBM Corp.