24.51% CAGR to Highlight Growth Phase In the Edge Computing Market

Edge Computing Market – Overview

Though not an entirely novel concept, edge computing has reinvigorated the Industrial Internet of Things movement especially. Market Research Future, a firm which specializes in market reports related to the information and communication technology sector among others, recently published a report on this market. The report has estimated that the global edge computing market will amount to USD 168.6 Billion by the end of year 2030 with 24.51% CAGR during forecast period.

Edge computing exists very close to the sources of data which it overlooks and manages information from. As it is capable of gathering information in close proximity of data sources, it also effectively deploys analytics. Edge computing is effectively positioned for the wave of IIoT that has been growing worldwide. Due to this factor, there is a high rate of adoption and application of the sector. Increase in the availability of devices like smartphones, smart watches and digital wearable technology have further propelled the growth of this market. Industries like healthcare, entertainment etc. have been some of the demand generating sectors for this industry.

Latest Industry News:

Jan 2018 Max2, a Smart platform company with a focus on Smart applications, has unveiled a groundbreaking IoT Edge Server marking the technology company's entry into a category predicted to grow rapidly by the end of this decade. This tech called VeeaHub, provides edge computing and communications as a direct extension of retailers' data center or cloud services. It also offers a unique software architecture that enables retailers to run their applications dynamically and most efficiently at the edge in retail locations, in the private data center or the Cloud, or both.

Jan 2018 Deutsche Telekom has set up a new edge computing business and appointed former Ericsson cloud technology executive Jason Hoffmann as its CEO. The business is called MobiledgeX and is intended to further explore the opportunities of edge computing.

Jan 2018 Commsignia announced that its new V2X Connectivity and Edge Computing Platform is supporting key Live Autonomous Vehicle and Road Safety deployments. The ITS-RS4 Smart City distributed intelligence roadside unit and its onboard vehicle counterpart, the ITS-OB4 DSRC/Cellular V2X connectivity platform enable sensor data sharing among autonomous vehicles and smart city infrastructure with first deployments. Applications and services in the ITS-RS4 utilize the dynamic model to enhance road-safety generating real-time alerts to drivers, connected autonomous vehicles and pedestrians, whilst escalating events and aggregated data for analytics to traffic management centers.

Dec 2017 Stratus Technologies, a global leader in continuous availability solutions for mission-critical applications, unveiled its edge computing product strategy and direction recently. This strategy includes the latest version of Stratus’ flagship product, ftServer, along with a preview of a converged edge system, which offers enhanced remote management services in a rugged and easy-to-deploy form factor. The ideal users for this offering originate in industrial automation (IA) or in distributed enterprises deploying Industrial Internet of Things (IIoT) applications.

Global Competitive Analysis

With the emerging industry players displaying a trend of solid growth in the market, and the addition of new and advanced products, the sector will diversify rapidly in the forecast period. Companies are aiming to gain & solidify their shares of the market segment, by competing and experimenting with various advantage points. The prominent players in the market of Edge Computing market are – Amazon (U.S.), General Electric (U.S.), Microsoft Incorporation (U.S.), Intel Corporation (U.S.), SAP SE (Germany), Alphabet Inc. (U.S.), Aricent (U.S.), IBM Corporation (U.S.).

Amazon is significantly focusing on Edge Computing and the IoT as a part of Amazon’s existing Snowball data transfer service and features the serverless computing power of new Greengrass technology. While, in a bid to solidify its position at the center of the industrial IoT (IIoT), GE Digital is looking to edge computing. By adding features to its Predix platform as a service (PaaS) to let industrial enterprises run predictive analytics at the network edge, as close as possible to data sources.

Industry Segments

The edge computing market has been divided on the basis of technology, deployment, component, application, end users and region.

By Technology: Mobile edge computing, fog computingBy Deployment: On-premise, on-cloudBy Component: Hardware, softwareBy Application: IOT, Data caching, video analytics, environment monitoringBy End-Users: Surveillance, automotive, gaming, healthcare, education and othersBy Region: North America, Europe, Asia Pacific, and RoW

Detailed

Regional Analysis

The Global Edge computing market, by region is dominated by North America which accounted for more than 45% of market share in the year 2022. Technological advancement in data center and network architecture is expected to drive the edge computing market in North America. Europe has successfully counted on second position in edge computing market globally by occupying more than 25% of market share in 2022. Asia-Pacific among all region is considered to be the fastest growing region in edge computing market due to evolution of cloud computing and big data analytics architecture which thereby fuelling the market growth of edge computing.