The edge computing market was valued at USD 29.2 billion in 2022 and it is anticipated to grow further till USD 261.0 billion by 2032, at a CAGR of 24.5% during the forecast period.
Edge computing is a type of distributed computing that brings computation and data storage closer to the location where it is needed, to improve response times and save bandwidth. In traditional computing, data is typically stored in a central location, such as a data center, and processed in batch mode. This can lead to delays if the data center is located far from where it is needed. Edge computing moves some of the computation and data storage closer to the edge of the network, where it is needed. This can improve response times and save bandwidth.
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Edge computing is a key technology for the future of the Internet of Things (IoT), as it can help to reduce the amount of data that needs to be sent to the cloud for processing, and improve response times.
Market Drivers and Trends
Advanced Micro DHere are five key trends in the edge computing market:
- Increased demand for real-time data: One of the biggest drivers of edge computing is the increasing demand for real-time data. With the rise of the Internet of Things (IoT), more and more devices are being connected to the internet and are generating data. This data needs to be processed quickly and efficiently, and edge computing is the perfect solution.
- More focus on data security: Another trend in the edge computing market is an increased focus on data security. With data being processed at the edge, it is less likely to be compromised by hackers. Additionally, data can be encrypted at the edge, making it even more secure.
- Greater scalability: Edge computing is also becoming more popular because it is more scalable than traditional computing. With traditional computing, data has to be sent back to a central location to be processed. This can cause bottlenecks and slow down the process. With edge computing, data can be processed locally, which makes it much more scalable.
- Improved performance: Another benefit of edge computing is improved performance. With data being processed closer to where it is being generated, there is less latency. This means that applications can run more smoothly and quickly.
- Reduced costs: Finally, edge computing can also help to reduce costs. By processing data at the edge, organizations can avoid the need to build and maintain centralized data centers. This can save a lot of money in the long run.
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COVID-19 Impact
Edge computing and data centres have seen increased use as a result of the COVID-19 outbreak. However, it is anticipated that investment in these technologies would decline significantly in the coming months as more of them are deployed. Companies in a wide range of industry sectors are lowering their spending or cutting their investments in upgrading servers and software in order to achieve significant cost savings. Although there are some anomalies, increased edge and IoT spending in the telecom and healthcare sectors stand out.
Major Players in the Global Edge Computing Market
The key players studied in the report are Advanced Micro Device, Yokogawa Electric Corporation, ABB Limited, Rittal Gmbh And Co, Zenlayer Inc, The Hewlett Packard Enterprise Company, Fujitsu Limited, Siemens AG, Integrated Device Technology, and Edge Connex Inc. among others.
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