Press release
Market For Edge Computing Is Likely To Surpass US$ 69 Billion By End Of 2032
Products for edge computing provide faster data transfer and processing between linked devices. Demand for edge computing components like services, software, and edge-managed platforms is driven by a shift in customer preference for smart gadgets over conventional cars and residences. Artificial intelligence (AI) and machine learning (ML)-based industrial automation trends that boost output and reduce costs also contribute to growth.The edge computing industry is projected to achieve a market size of US$ 5 Bn in 2022 and is expected to grow at a positive CAGR of 30% between 2022 and 2032, when it is expected to reach US$ 69 Bn.
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Key Takeaways from the Market Study
Global market for edge computing to reach US$ 5 Bn by 2022-end
North America leads global sales with 46% share of the total market value.
South Asia & Oceania offers the most lucrative opportunities with the highest double-digit growth rate of 32% during the forecast period.
Energy & utilities account for the largest share of the market value. The 18% share can be accredited to cost efficiency and enhanced control over energy grids offered by edge computing products.
Datacenters are the most financially rewarding application segment with a meteoric 32.5% CAGR through 2032.
Hardware is the most selling component segment with more than 46% share of the total market revenue.
Edge computing services offer the most remunerative opportunities with a stupendous 31.5% CAGR during the projection period.
Rapid technological advancements across multiple industries is necessitating the need for rapid data transmission and assimilation to arrive at timely conclusions. Furthermore, there is a need to streamline workflows, all of which are expected to contribute majorly to the growth of edge computing, remarks a Fact.MR analyst.
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Key Market Segments in Edge Computing Industry Research
By Component
Edge Computing Hardware
Edge Nodes/Gateways (Servers)
Sensors/Routers
Others
Edge Computing Software
Edge Computing Services
Edge-Managed Platform
By Application
Edge Computing for Energy & Utilities
Edge Computing for Industrial Applications
Edge Computing for Transportation & Logistics
Edge Computing for Smart Cities, Smart Homes, Smart Buildings
Edge Computing for Healthcare
Edge Computing for Agriculture
Edge Computing for Retail
Edge Computing for Datacenters
Edge Computing for Other Applications
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Competitive Landscape
The competitive landscape of the edge computing market is shaped by product innovation and strategic mergers & acquisitions. Cisco Systems, Inc., Microsoft Corporation, Amazon Web Services (AWS), Inc., Moxa Inc., NVIDIA Corporation, and Belden Inc. are some prominent manufacturers of edge computing.
In January 2022, Amazon Web Services (AWS) announced the general availability of its new Amazon Elastic Compute Cloud (Amazon EC2) Hpc6a instances. These "purpose-built" EC2 instances leverage 3rd Gen AMD EPYC CPUs to process high-performance computing (HPC) workloads at what Amazon claims.
In November 2021, Kyndryl announced a landmark global strategic partnership that will combine its market-leading capabilities in the service of enterprise customers. The deal with Microsoft is Kyndryl's first since recently becoming an independent public company and provides incremental multi-billion dollar revenue opportunities for the two companies.
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The global market report for Edge Computing Market discusses a lot of critical topics, including the following:
What are the Investment Opportunities in the Edge Computing Market?
What factors will be essential to the development of the region with the most alluring growth rate throughout the projection period?
What modifications are most likely to affect the key players in the Edge Computing Market's existing positions in the not-too-distant future?
Which sectors of goods, services, or technologies have the greatest potential to significantly alter the competitive environment in the market for Edge Computing Market?
What strategies are the leading companies in the dimeric fatty acid sector employing to maintain their market dominance?
What commercial tactics might new entrants employ to carve out a significant position in the Edge Computing Market?
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