Edge Computing Market Benefits from Proliferation of Internet of Things
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One of the key factors driving the edge computing market is the proliferation of Inter of Things. Edge computing enables data generated by Internet of Things (IoT) devices to be processed as close to the source where it is created which eliminates the need to send it to data centers or clouds. Today, IoT has revolutionized the operating capability of humans, wherein IoT devices such as smartphones, virtual technology, and digital wearable among others have changed person’s routine life and increased the frequency of routine tasks. IoT offers advantages of ubiquitous network, process optimization, connected devices, sensor driven decision analytics, and marketing automation for enterprises that are driving its adoption across several industries. As a result, the significant increase in load on cloud impacting its functionality and response speed has posed the need to process or store critical data locally.
Edge computing deployments are ideally suited in a number of situations. One is when IoT devices have insufficient connectivity and it is not feasible for IoT devices to be seamlessly connected to a central cloud. High latency, low spectral efficiency, and non-adaptive machine type of communication are some of the serious challenges of cloud computing framework that is leading to a shift to computing to the edge devices of the network.
Edge computing offers economic benefits for organizations. This is because carrying out computing closer to the edge of the network helps organizations analyze crucial data in real-time. Edge computing is useful for organizations across many industries such as manufacturing, telecommunications, healthcare, and finance among others.
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A report by Transparency Market Research (TMR) estimates the global edge computing market will be evaluated at US$8,024.5 mn in 2017 and further reach US$13,313.7 mn by the end of 2022 clocking a 10.7% CAGR therein.
The global market for edge computing is fairly consolidated with key shares held by a few well-entrenched players. Some of the leading players in the global edge computing market are Microsoft Corporation, IBM Corporation, Cisco Systems Inc., Google Inc., Hewlett Packard Enterprise Company, Intel Corp, Schneider Electric SE, Nokia Corporation, Huawei Technologies Co. Ltd., and Aricent Inc.
Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations
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