The new report by Expert Market Research titled, Global Edge Computing Market Size, Price, Trends, Growth, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global edge computing market, assessing the market based on its segments like component, end use, and major regions like North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Value (2020): 3.1 billion
- Forecast CAGR (2023-2028): 24.48%
- Forecast Market Value (2026): 11.6 billion
The introduction of self-driving cars and connected automobile networks, as well as the requirement for lightweight frameworks and applications to improve the efficiency of edge computing solutions, are likely to open up new prospects for edge computing vendors.
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Industry Definition and Major Segments
Edge computing is a distributed computing approach that brings data storage and computation closer to the point of use in order to enhance response times and conserve bandwidth. The edge computing market is separated into segments such as components and end-user.
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Based on component, the market is bifurcated into:
- Edge-Managed Platforms
Based on end uses, the market is divided into:
- Government and Defence
- Transportation and Logistics
- Retail and Consumer Goods
- Telecom and IT
The regional markets for global edge computing market:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Edge computing market growth is being driven by factors such as increased Internet of Things (IoT) adoption across industries, increased demand for low latency processing and real-time, automated decision-making solutions, and the need to overcome exponentially growing data volumes and network traffic. Edge computing assists real-time applications in analysing and processing collected data, which is also one of the primary drivers of expanding industrial demand.
The introduction of the 5 G Network, as well as a plethora of IoT solution frameworks and languages, are likely to bring considerable industry growth prospects in the future years. However, the increased local hardware and greater maintenance costs are projected to limit the growth of the edge computing market.
Key Market Players
The major players in the market are Amazon.com Inc. (NASDAQ: AMZN), Altran Technologies SA Inc, Cisco Systems Inc, Hewlett Packard Enterprise Co, Huawei Technologies Co. Ltd, International Business Machines Corporation, Microsoft Corporation, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, mergers and acquisitions, among other latest developments of these market players.
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