Market Definition
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.
Market Outlook
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 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
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.
- These are just a few of the key trends in the edge computing market. As this new form of computing continues to evolve, we can expect to see more exciting innovations and developments.evice, 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.
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Research Objectives
- Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
- Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
- Identify factors influencing market growth and challenges, opportunities, drivers and restraints
- Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
- Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
- Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
- To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
- Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives.
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Global Edge Computing Market Segmental Overview
The global edge computing market is segmented into component, enterprise size, end user, and region.
Global Edge Computing Market by Component
Based on component, it is segmented into hardware, software, and service. The hardware segment is anticipated to dominate the market during the forecast period. Similarly, the software segment is anticipated to witness the fastest growth during the forecast period.
Global Edge Computing Market by Enterprise Size
Based on enterprise size, it is segmented into SMEs, and large enterprise. The SMEs segment is anticipated to dominate the market during the forecast period. Similarly, the large enterprise segment is anticipated to witness the fastest growth during the forecast period.
Global Edge Computing Market by End User
Based on end user, it is segmented into BFSI, transportation, healthcare, manufacturing, semiconductor, government, IT & telecommunication, retail, energy, utilities, education, and hospitality. The BFSI segment is anticipated to dominate the market during the forecast period. Similarly, the transportation segment is anticipated to witness the fastest growth during the forecast period.
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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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Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
- Market Size in 2021 – US$ 29.2 Billion
- Market Size in 2031 – US$ 261.0 Billion
- CAGR – 24.5%
- Historic Period – 2016-2022
- Forecast Period – 2024-2033
- Base Year – 2024
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