EDGE COMPUTING MARKET TO REACH USD 30.7 BILLION BY 2027 | CAGR 31% – FORENCIS RESEARCH

Global Edge Computing Market: Key Highlights

• According to the new market research report “Edge Computing Market by Technology (Mobile Edge Computing, Fog Computing, Cloudlets, (Micro Data Center, CoT), by Component (Hardware, Software, Solutions), by Application (IoT, Analytics, Environment Monitoring, Augmented Reality, Others), by End-Use Industry (Transportation, Healthcare, Energy & Utilities, IT & Telecommunication, Media & Entertainment, Manufacturing, Government & Defense, Retail, Education, Others), by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) – Global Forecast (2020 to 2027)”, the global Edge Computing market is estimated to reach USD 30.7 Billion by 2027 at a CAGR of around 31% during the review period.
• Computing technology is constantly evolving, and moved forward through several different iterations as businesses look for the most efficient and cost-effective solution to meet their needs.
• Edge computing has the potential to increase the efficiency of built the whole system using IoT devices. Due to power constraints, the IoT devices were designed to have the minimum amount of computing power necessary to collect and transmit data and receive and implement instructions.

Global Edge Computing Market: Key Market Dynamics

• Rising demand for real-time and low-latency processing solutions, growing adoption of Internet of things (IoT), and increasing adoption of smart applications are expected to grow the market during projected years.
• Moreover, increasing connected cars applications are expected to create new opportunities in the edge computing market during the forecast period.
• However, security and privacy concerns will hinder the growth of the market during next seven years.

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Global Edge Computing Market: Regional Overview

• North America

The edge computing market in the North America region is projected to witness high demand due to the early adoption of latest technologies such as IoT and artificial intelligence. Moreover, global players such Microsoft, IBM Corporation, Google, Amazon Web Services (AWS), Cisco, and General Electric Company are expected to hold the largest market share and expected to grow the edge computing market in North America.

Open Networking & Edge Summit of North America is the industry’s premier open networking event now expanded to comprehensively cover Edge Computing, Edge Cloud & IoT. Open Networking & Edge Summit (ONES) enables collaborative development and innovation across enterprises, service providers/telcos and cloud providers to shape the future of networking and edge computing.

• Asia-Pacific

Asia-Pacific region is expected to grow at faster rate during the forecast period. China, India, Japan, and South Korea are expected to hold largest market share in Asia-Pacific edge computing market during the forecast period. High Presence of IT, telecommunication, and software industries in this region will grow the market with highest rate during projected years.

Global Edge Computing Market: Key Players Overview

• Amazon Web Services (AWS):

Amazon Web Services is the broadly adopted cloud platform which offers 175+ fully featured services from data centers. Company provides cloud services to infrastructure technologies such as storage and databases to emerging technologies such as artificial intelligence and machine learning. AWS IoT Greengrass seamlessly extends AWS to edge devices so they can act locally on the data they generate, while still using the cloud for management, analytics, and durable storage. FreeRTOS is an open source, real-time operating system for microcontrollers that makes small, low-power edge devices easy to program, deploy, secure, connect, and manage. In June 2020, company launched AWS Snowcone, a rugged device designed for secure edge computing and data transfer.

• IBM Corporation:

IBM is a leading cloud platform and cognitive solutions company with the global presence in 170 countries. The company work in different segments such as cloud, IT infrastructure, security, services research, and Watson. IBM provides an autonomous management to addresses the scale, variability and rate of change in edge environments. IBM also offers solutions to help telecom companies modernize their networks and deliver new services at the edge. In May 2020 IBM and Red Hat launched Edge Computing Solutions for the 5G.   

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