Edge Computing Market Size To Reach $55930 Million By 2028 At CAGR 31.1%





BANGALORE, India, January 19, 2022 /PRNewswire/ — The Edge Computing Market is segmented by type (Hardware, Software & Service), Application (Transport and Logistics, Manufacturing, Energy and Utilities, Healthcare and Life Sciences, IT and Telecom, Other). The report covers global opportunity analysis and industry forecasts from 2022 to 2028.

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The global Edge Computing market size is expected to reach: USD 55930 million by 2028, from USD 8237 million in 2021, with a compound annual growth rate (CAGR) of 31.1% over 2022-2028

The key factors driving the growth of the Edge Computing market are:

The increasing use of IoT across industries, the exponentially growing data volumes and network traffic, and the increasing need for low-latency processing, real-time, automated decision-making solutions are just some of the factors driving the growth of the edge computing market.

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Trends Influencing the Growth of the Edge Computing Market

The need to reduce latency and increase speed is expected to drive the growth of the edge computing market. In the case of the self-driving car, for example, most of the data it collects and needs is outdated after a few seconds. On a busy highway, milliseconds are crucial. In the digital factory, where intelligence-based technologies continuously monitor all parts of the production process to maintain data consistency, milliseconds are also important. In many circumstances, there isn’t enough time to send travel data back and forth between clouds. Edge computing reduces latency by processing data closer to the source and reducing the physical distance it has to travel.

The need for reliable connectivity with less downtime is expected to drive the growth of the edge computing market. A network problem in a remote location is less likely to harm local customers with IoT edge computing devices and edge data centers closer to end users. IoT edge computing devices will continue to function independently even if a neighboring data center goes down. This is because they handle essential processing functions natively.

When all your data eventually has to flow through a single channel to a cloud analyzer, critical business and operational activities that depend on actionable data become extremely vulnerable. As a result, a single DDoS attack can bring the entire business of a global company to a standstill. When you deploy data analysis tools across organizations, you also distribute risk. While it can be argued that edge computing increases the attack surface for would-be hackers, it also reduces the impact on the business as a whole. This feature is expected to further accelerate the growth of the edge computing market.

Edge computing offers a much more cost-effective path to scalability, enabling businesses to increase throughput by combining IoT devices and edge data centers. Edge computing devices with processing capabilities help reduce growth costs because each newly added device does not place significant bandwidth demands on the core of the network. This, in turn, is expected to drive the growth of the edge computing market.

Edge computing is part of the larger IoT ecosystem, which also includes the cloud. As 5G coverage grows and networks gain speed and capacity, analysts and researchers expect organizations to take advantage of both the low latency of edge computing and the speed of 5G to develop next-generation workloads and new use cases that rely on or take advantage of the two technologies working together.

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Edge Computing Market Share Analysis:

On a regional basis, the North American market had the largest market share at around 37 %, followed by Europe, which accounted for about 32% of the edge computing market share.

On the other hand, the Asia-Pacific region is expected to witness the highest growth during the forecast period due to increased IoT applications and 5G proliferation

Based on the application, the software services segment is expected to have a market share of approximately 57%.

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Major Companies in the Edge Computing Market:

Some of the top companies in the edge computing market are IBM, Microsoft, Amazon Web Services, Dell, Cisco, HPE, Huawei, Lenovo, etc. Together, these organizations are expected to account for more than 60% edge computing market share by 2020 .

  • IBM

  • Microsoft

  • Amazon Web Services

  • Dell

  • Cisco

  • HPE

  • huawei

  • Lenovo

  • Nokia

  • Fujitsu

  • Gigabyte technology

  • TO GIVE

  • ADLINK

  • Advantech

  • acts

  • litmus automation

  • others

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SIMILAR REPORTS

  • the global Edge Computing in the Manufacturing Market size is projected to achieve: USD 12460 million by 2028, from USD 1531.4 million in 2021, with a CAGR of 34.5% in 2022-2028.

  • the global Mobile edge computing market size is projected to achieve: USD 1530.6 million by 2028, from USD 250.9 million in 2021, with a compound annual growth rate (CAGR) of 28.9% in 2022-2028

  • Multi-access Edge Computing (MEC) Market includes segmentation by type (hardware, software, services), by application (education, healthcare, automotive, surveillance, other), and regional

  • The Japan edge AI market size was rated on USD 7.79 billion in 2020 and is expected to reach USD 40.81 billion by 2030, recording a compound annual growth rate (CAGR) of 20.0% from 2021 to 2030

  • Edge AI Market includes segmentation by type (hardware, software), by application (automotive, consumer and enterprise robotics, drones, head-mounted displays, smart speakers, mobile phones, PCs/tablets, security cameras), and regional

  • the global Edge AI Software Market: size is projected to achieve: USD 2773.2 million by 2027, from USD 576 million in 2020, with a CAGR of 24.8% in 2021-2027

  • the global 5G IoT Market size is projected to achieve: USD 2028.9 million by 2027, from USD 290.8 million in 2020, with a compound annual growth rate (CAGR) of 31.4% over the forecast period 2021-2027

  • the global 5G infrastructure market size was rated on USD 371.4 million in 2017 and is expected to reach USD 58,174.6 million by 2025, growing at a CAGR of 95.8% from 2018 to 2025

  • the global 5g technology market size is expected to USD 5.53 billion in 2020 and is expected to reach USD 667.90 billion by 2026, registering a CAGR of 122.3% from 2021 to 2026

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