DUBLIN, Sept. 13, 2018 /PRNewswire/ --
The "Global Edge Computing Market - Forecasts from 2018 to 2023" report has been added to ResearchAndMarkets.com's offering.
The global edge computing market was valued at US$975.735 million in 2017 and is expected to grow at a CAGR of 29.66% over the forecast period to reach a market size of US$4,636.604 million in 2023.
The market growth of this technology is majorly attributed to increasing penetration of Internet of Things (IoT) in many regions across the globe. Increasing investments by major industry players into Internet of Things in such regions is fuelling innovation and is accelerating the process of development and commercialisation of a wider range of connected products and solutions. Smart TVs, for instance, are witnessing an impressive year-on-year increase in adoption on account of rising disposable incomes and changing lifestyles across the regions.
Gaming consoles are also witnessing rapid adoption as game developers continue to integrate technologies like Virtual Reality, Augmented Reality and others into their offerings to enhance customer experience. Increasing focus of customers towards offering advanced connected solutions with minimum latency is steering them towards newer technologies like edge computing which is driving their market growth.
Rising concerns regarding data security are further steering many industry players towards edge computing which allows them to keep data near to source, thus minimising the risks of data theft while data travels from host to remote servers and back to host. This is driving the growth of edge computing market.
Increasing investments by major industry players into Artificial Intelligence (AI) has been another major contributing factor for the growth of this market. In order to strengthen the growth of technologies like Natural Language Processing, Context-Aware computing and many others under this umbrella is drifting them towards edge computing which offers numerous benefits that support the growth of these technologies. This is boosting the growth of this market. The growth of this market will continue to remain strong as many industry players are coming together in order to tap the complete potential of this technology.
For instance, OpenFog is a consortium whose members include companies like arm, Cisco, Dell, Intel, Microsoft, Toshiba, Princeton University, Foxconn, General Electric, Hitachi, Ltd., Verizon Communications and SAKURA internet, along with some universities like ShanghaiTech University, Purdue University, and National Chiao Tung University among others. As these stakeholders continue to join forces and fuel innovation through the power of synergies, the market is anticipated to witness a solid growth over the projected period.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Global Edge Computing Market Forecast By Product Offerings (US$ Billion)
6. Global Edge Computing Market Forecast By End-User Industry (US$ Billion)
7. Global Edge Computing Market Forecast By Geography (US$ Billion)
8. Competitive Intelligence
9. Company Profiles
- Google Inc.
- Cisco Systems
- Schneider Electric
- ADLINK Technology
- Intel Corporation
- General Electric
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SOURCE Research and Markets