The “Edge Computing Market by Component, Application (Smart Cities, Industrial IoT, Remote Monitoring, AR-VR), End-Use Industry (Manufacturing, Retail, Healthcare, Media and Entertainment, Telecommunications, Transportation and Logistics) – Global Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.
Edge computing is a simple method of managing data near the edge of the network, where the data is being generated, instead of in a centralized data-processing warehouse. Edge computing is changing the way data is being handled, processed, and delivered from millions of devices around the world. This technology is expected to witness significant growth in the upcoming years due to the tremendous increase in the number of intelligent applications. The growth in the edge computing market is fueled by several factors such as growing load on cloud infrastructure; rising adoption of industrial IoT; and rising demand for low-latency processing and real-time automated decision-making solutions. However, initial capital expenditure associated with the infrastructure is a major restraining factor hindering the growth of this market.
On the basis of application, the smart cities segment commanded the largest share of the overall edge computing market in 2019. Due to the issue of safety related to roadways and other infrastructure, smart cities are implementing edge computing strategies.
Based on the end-use industry, the edge computing market is segmented into manufacturing, retail, healthcare, media & entertainment, IT & telecommunications, transportation & logistics, government & defense, energy & utilities and others (agriculture, education, and BFSI). Among these, the energy and utility segment is projected to grow at a considerable pace throughout the forecast period. The large share of this segment is attributed to the fact that energy and utility resources can easily generate a tremendous amount of data in a day, which is pushed back to a centralized cloud platform service to be processed, analyzed, and ultimately acted upon. Every utility company is desperately seeking to minimize capital expenditure and simplify ongoing technical management.
An in-depth analysis of the geographic scenario of the market provides detailed qualitative and quantitative insights about the five regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2019, North America commanded the largest share of the global edge computing market and is expected to maintain its dominance throughout the forecast period. Today, a large number of business enterprises in North America are adopting edge computing technologies to enhance their IT infrastructure and leverage the benefits of new technologies, such as 5G and IoT. This coupled with the presence of majority of the established edge computing players and start-ups have boosted the growth of the overall edge computing market in the North American region.
If you have an interesting article / experience / case study to share, please get in touch with us at editors@expresscomputeronline.com