Edge Computing Market

Edge Computing Market accounted for US$ 4.68 billion in 2020 and is estimated to be US$ 108.55 billion by 2030 and is anticipated to register a CAGR of 37.3%. Edge computing refers to the technique of processing data at the network's edge rather than in a centralized data center. This limits the amount of bandwidth available for communication between central data centers and end-user devices. Data stream acceleration, mobile signature analysis, and data caching are all possible with edge computing. Edge computing eliminates lag time, allowing smart applications and devices to respond to data virtually instantly as it is generated. Edge computing refers to the efficient processing of huge amounts of data close to the source, hence decreasing internet bandwidth utilisation.

The Report " Global Edge Computing Market, By Component (Hardware, Services, Platform, and Solutions), By Application (Location Services, Analytics, Data Caching, Smart Cities, Environmental Monitoring, Optimized Local Content, Augmented Reality, Optimized Local Content, and Others), By End-User (Telecommunication & IT, Healthcare, Government & Public, Retail, Media & Entertainment, Transportation, Energy & Utilities, and Manufacturing), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis, and Forecast till 2029’’

Key Highlights:

• In August 2021, Qualcomm launched a drone platform that aims to replicate the success of the Ingenuity Helicopter on Mars on Earth. Qualcomm's Flight RB5 5G Platform aims to accelerate development for commercial, enterprise and industrial drones as well as edge computing.
• In July 2021, The National Science Foundation today announced the creation of 11 new research institutes devoted to Artificial Intelligence, including one at Duke and one at NC State University. The $220 million total investment comes after a $140 million NSF investment created seven other AI institutes last year. Duke’s center, Athena, the AI Institute for Edge Computing Leveraging Next-generation Networks, will support a multi-disciplinary team of scientists, engineers, statisticians, legal scholars, and psychologists from seven universities. The center aims to transform the design, operation, and service of future mobile systems and networks.

Analyst View:

The worldwide edge computing industry is being propelled forward by increasing internet of things (IoT) penetration and increased usage of cloud services and solutions. Other factors likely to promote the growth of the global edge computing market throughout the projected period include the increasing usage of connected devices and the expansion of smart city projects. The worldwide edge computing market's growth is being stifled by high deployment costs and data security concerns. Another issue that is predicted to stymie the global edge computing market's expansion throughout the projected period is a scarcity of skilled workers.

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Key Market Insights from the report:

The Global Edge Computing Market accounted for US$ 4.68 billion in 2020 and is estimated to be US$ 108.55 billion by 2030 and is anticipated to register a CAGR of 37.3%. The Global Edge Computing market is segmented based on the component, application, end-user and region.

• By Component, the market is segmented into Hardware, Services, Platform, and Solutions.
• By Application, the market is segmented into Location Services, Analytics, Data Caching, Smart Cities, Environmental Monitoring, Optimized Local Content, Augmented Reality, Optimized Local Content, and Others.
• By End-user, the market is segmented into Telecommunication & IT, Healthcare, Government & Public, Retail, Media & Entertainment, Transportation, Energy & Utilities, and Manufacturing.
• By Region, the Global Fibre Optics is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to hold the largest market share in the target market among other regions over the forecast period.

Competitive Landscape:

The key players operating in the global Edge Computing Market includes International Business Machines Corporation, Cisco Systems Inc., Instant Data Centers, Microsoft Corporation, Fujitsu Limited, Amazon Web Services, Nokia Corporation, AT&T Inc., FogHorn Systems Inc., and Huawei Technologies Co. Ltd.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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