BANGALORE, India, March 3, 2020 /PRNewswire/ -- EDGE COMPUTING MARKET OVERVIEW:
The Global Edge Computing Market will grow from USD 2,485.36 million in 2018 to USD 8,854.78 million by the end of 2025 at a compound annual growth rate (CAGR) of 19.90%.
Edge Computing processes the data at the network edge. Edge computing supports applications to analyze and process collected data in real-time, which is one of the key factors driving market demand. In addition, the introduction of the 5G network, various IoT software platforms and languages are expected to provide significant opportunities for market growth in the coming years. However, local hardware and higher maintenance costs are likely to inhibit the growth of the edge computing industry.
The edge computing market report strategically segments the report into components, applications, and end-users. Based on the component, the market is segmented by Hardware, Services, and Software. Based on application, the market is segmented by Analytics, Augmented Reality, Location Services, and Smart Cities. The end-user is segmented by Automotive, Education, Healthcare, and Surveillance.
TRENDS INFLUENCING THE GLOBAL EDGE COMPUTING MARKET
Increasing demand for low latency processing and real-time, automated decision-making solutions; and an exponentially increasing need to address data volumes and network traffic is driving the market growth.
The proliferation of IoT has resulted in a substantial increase in data, as companies increasingly rely on centralized cloud computing and storage solutions. For the entire IT network, transitioning to the cloud raises issues of latency and economic viability. Hence, organizations using IoT sensors, actuators, and other IoT devices are increasingly looking for edge computing solutions, such as edge nodes, devices, and hyper-localized data centers. Edge computing supplements the existing cloud paradigm by facilitating data processing closer to the data source, thereby enabling organizations to speed up decision-making. This functionality of edge computing is driving the market.
Edge computing drives automation and enhances the predictive accuracy of events such as network outages, machine downtime, and weather changes. Therefore, edge computing often eliminates cloud computing risks such as DDoS attacks and server outages.
The rise in the number of smart applications is a key driver of the growth of the edge computing industry. Additionally, edge computing lets real-time applications analyze and process collected data, which is also one of the critical factors driving market demand. More local hardware and higher maintenance costs, however, are likely to hinder the growth of the edge computing industry. In addition, the introduction of the 5G Network, and various IoT software platforms and languages are expected to provide significant opportunities for market growth in the coming years.
North America represented the largest market share in 2018 and is expected to maintain dominance over the forecast years. Higher cloud adoption in the area is contributing to the technology's ongoing transformation. Developing revolutionary technologies within the region, such as autonomous cars, is also expected to drive regional market growth in the years to come.
The Asia Pacific market is expected to experience the highest CAGR in 2019 through 2025.
The adoption of edge computing technologies by large companies is high due to the increased data generation, attributed to the broad geographic reach and customer base. In addition, growing employee demand for access to computing tools and applications while ensuring proper data storage drives the market for edge computing solutions among large enterprises.
ON THE BASIS OF COMPONENT, THE GLOBAL EDGE COMPUTING MARKET IS SEGMENTED BY:
ON THE BASIS OF APPLICATION, THE EDGE COMPUTING MARKET IS SEGMENTED BY:
ON THE BASIS OF END USER, THE EDGE COMPUTING MARKET IS SEGMENTED BY:
THE REPORT PROVIDES INSIGHTS ON THE FOLLOWING POINTERS:
1. Market Penetration: Provides comprehensive information on offered by the key players in the Global Edge Computing Market
2. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and new product developments in the Global Edge Computing Market
3. Market Development: Provides in-depth information about lucrative emerging markets and analyzes the markets for the Global Edge Computing Market
4. Market Diversification: Provides detailed information about new products launches, untapped geographies, recent developments, and investments in the Global Edge Computing Market
5. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the Global Edge Computing Market.
THE REPORT ANSWERS QUESTIONS SUCH AS:
1. What is the market size of the Edge Computing market in the Global?
2. What are the factors that affect the growth in the Global Edge Computing Market over the forecast period?
3. What is the competitive position in the Global Edge Computing Market?
4. Which are the best product areas to be invested in over the forecast period in the Global Edge Computing Market?
5. What are the opportunities in the Global Edge Computing Market ?
The report strategically segments into type and application to give an in-depth analysis. Based on type, the market is segmented by Hardware, Software and Services. Based on application, the market is segmented into Media & Entertainment, Retail, IT & Telecom, Healthcare, BFSI and others.
This report also studies the global competitive landscape, market drivers and patterns, opportunities and challenges, risks, and barriers to entry, distribution channels, distributors, and Porter's Five Forces Analysis.
The research report studies the demand for Edge Computing in the retail market, the report is segmented by type :- Technology, Service, Hardware and further segmented by application:- Electronic Products, Cosmetics, Clothes and other.
The research report studies the market of Edge Computing Services and the report is segmented by Type:- Hardware, Platform, Technology and further by Application :- Manufacturing, Energy & Utilities, IT & Telecom, Health & Life Sciences and Consumer Appliances.
The research report uses different methodologies and analysis to study the Edge Computing in the Manufacturing industry to provide reliable and in-depth market information. The report is segmented by type:- Technology, Service, and Hardware. Further based on the application, the market is segmented into Automotive, Electronic products, Home appliance and other.
The report studies the market size of Multi-access Edge Computing (MEC) by players, countries, product types and end industries. Based on type, the market is further segmented into hardware, software, and service. Based on application, the market is segmented by Education, Healthcare, Automotive, Surveillance, and Others.
Furthermore, this report also studies the global competitive landscape, market drivers and patterns, opportunities and challenges, risks and entry barriers, sales channels, distributors, and Porter's Five Forces Analysis.
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