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Global Edge Computing Market By Component (Hardware, Software, Services, Edge-managed Platforms), By Industry Vertical (Healthcare, Agriculture and energy and utilities); and Region -Analysis of Market Size, Share & Trends for 2016 - 2019 and Forecasts to 2030
[ 170 + Pages Research Report ] Edge Computing Market surpass USD 62.4 billion by 2030, which is valued at USD 5.3 billion 2021 at a compound annual growth rate of 31.60
Global Edge Computing Market is a groundbreaking approach to cloud computing systems optimization. This refers primarily to the systems that enable computational to be carried out at the edge of the network. Edge computing is responsible for aligning data collection and control mechanisms, high bandwidth storage, and end-user-related applications. Battery life for the battery-operated IoT devices is boosted by the shorter times of open communications channels caused by an improved latency. Edge computing also enables efficient data storage, with cleaner data sets for cloud-based analysis as data collection and data processing are done at the edge of the network.
This growth is anticipated due to the growing escalation of the Internet of Things and increasing concerns for security in public places. The IoT phenomenon is expected to expand with the organization's digital transformation initiatives in the coming years. The exponential growth and growing use of IoT in companies would lead fuel the edge computing industry. As IoT has increased in several high-computing linked mobile devices, companies have gained access to and stored large volumes of data in the repository.
The hardware segment dominated the global edge computing market.
Global Edge Computing Market is segmented by component into Hardware, Software, Services, and Edge-managed Platforms. Increasing cloud-based applications, in which the server plays a crucial role and functions as the non-visible computer base for the services on which users are dependent, provide the highest percentage.
Energy and utilities accounted for 31.60% of the global volume
Global Edge Computing Market is segmented by industry vertical: Healthcare, agriculture, and energy and utilities The growing need to close the gap between theoretical performance and the actual production of grid systems promotes the adoption of edge computing practices by grid producers. Therefore, a large number of data generated from power stations distributed need to be processed and analyzed at a faster pace to enable successful decision-making based on data. Many of the driving forces that help the industry expand include the use of intelligent functionalities such as automatic metering (AMR), distributed generators remote control, grid automation, and real-time power analysis.
The growing espousal of IoT
The emergence of IoT led to a substantial increase in data, as businesses rely more and more on centralized cloud computing and storage solutions. The movement of the entire IT industry to the cloud poses economic feasibility issues. Therefore, these companies are continuously searching for edge computing resources including edge nodes, instruments, and hyper-located data centers, using IoT sensors, actuators, and other IoT tools.
The advent of autonomous vehicles
Edge computing in autonomous motor cars can make it possible to use the collected data better and more accurately, enabling edge computers to offload non-critical data in the edge data centers and to preserve essential data within the vehicle. In addition, edge computing can help achieve situational awareness within a space of time combined with Artificial intelligence (AI ) and machine learning (ML) by providing local processing power to facilitate the processing of large quantities of data produced by autonomous automobiles.
Initial investment
In using digital technologies to effectively simplify and accelerate business processes companies are moving rapidly towards digitization. The initial investment in edge computing is still a major load on the capital expenditure of the company. For businesses that are pursuing comprehensive edge computing solutions, investments in cutting-edge nodes, other edge tools, and edge data centers are significant. They would also have to invest more in ensuring the protection of devices and the whole network. As a result, multiple service suppliers are reluctant to switch to the edge only because of low latency processing.
North America was the largest market accounting for 42% of the total market volume share in 2019
The global Edge Computing market is further segmented by region into:
Company Overview, Business Strategy, Key Product Offerings, Financial Performance Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Edge Computing Market Segments:
The Edge Computing Market size was estimated at USD 5.3 billion in 2021 and is expected to reach USD 62.4 Billion by 2031.
Cisco (US), Huawei (China), Dell Technologies (US), Litmus Automation (US), SixSq (Switzerland), Saguna Networks (Israel), ADLINK (Taiwan), Axellio (US), HPE (US), IBM (US), Other prominent players
The hardware segment and Energy and utilities are anticipated to hold the largest Edge Computing Market
Drivers: The growing espousal of IoT and The advent of autonomous vehicles
Edge Computing Market is a groundbreaking approach to cloud computing systems optimization. This refers primarily to the systems that enable computational to be carried out at the edge of the network. Edge computing is responsible for aligning data collection and control mechanisms, high bandwidth storage, and end-user-related applications.
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