Press release
The Edge Computing Market To Register A Positive CAGR Of 30% To Reach A Value Of US$ 69 Bn By 2032
๐๐ผ๐๐ป๐น๐ผ๐ฎ๐ฑ ๐๐ฅ๐๐ ๐ฆ๐ฎ๐บ๐ฝ๐น๐ฒ ๐๐ผ๐ฝ๐ ๐ผ๐ณ ๐ง๐ต๐ถ๐ ๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐: https://www.factmr.com/connectus/sample?flag=S&rep_id=4761
Edge computing products facilitate enhanced processing power and data transmission between connected devices. The shift in consumer preference for smart devices over conventional vehicles, and homes drives the demand for edge computing components such as services, software, and edge-managed platforms. Industrial automation trends that employ artificial intelligence (AI), and machine learning (ML) to curb costs and increase production capacities also contribute to growth.
The COVID-19 pandemic has boosted field service solution adoption across industry verticals as the users move to leverage field service solutions advantages, such as expansions and less cost. Despite the global economic slowdown, around 50% of subscription companies are expanding at a similar pace without any negative influence due to the COVID-19 pandemic.
Key Takeaways from the Market Study
โข Global market for edge computing to reach US$ 5 Bn by 2022-end
โข North America leads global sales with 46% share of the total market value.
โข South Asia & Oceania offers the most lucrative opportunities with the highest double-digit growth rate of 32% during the forecast period.
โข 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.
โข Data centers are the most financially rewarding application segment with a meteoric 32.5% CAGR through 2032.
โข Hardware is the most selling component segment with more than 46% share of the total market revenue.
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.
โข 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.
โข 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.
๐๐ฒ๐ ๐๐๐๐๐ผ๐บ๐ถ๐๐ฎ๐๐ถ๐ผ๐ป ๐ผ๐ป ๐๐ต๐ถ๐ ๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐: https://www.factmr.com/connectus/sample?flag=RC&rep_id=4761
Key Market Segments in Edge Computing Industry Research
By Component
โข Edge Computing Hardware
โข Edge Nodes/Gateways (Servers)
โข Sensors/Routers
โข Others
Edge Computing Software
โข Edge Computing Services
โข Edge-Managed Platform
By Application
โข Edge Computing for Energy & Utilities
โข Edge Computing for Industrial Applications
โข Edge Computing for Transportation & Logistics
โข Edge Computing for Smart Cities, Smart Homes, Smart Buildings
โข Edge Computing for Healthcare
โข Edge Computing for Agriculture
โข Edge Computing for Retail
โข Edge Computing for Datacenters
โข Edge Computing for Other Applications
Recent Developments
โข In June 2021, Cisco announced its new portfolio of catalyst industrial routers to extend the capability of enterprise network to the edge with flexibility, scalability, and security with embedded 5G technology.
โข In April 2021, Verizon and AWS launched its private mobile 5G edge computing to enterprises in the US through Verizon private 5G network and AWS outposts.
โข In March 2021, The company announced the launch of next-generation data center and power supply solutions at the Digitally Transforming Energy Infrastructure online event. Data center solutions are for small and edge computing scenarios including FusionModule2000, FusionModule800, and FusionModule500 for different industry purpose.
โข In March 2021, Nokia launched of edge automation solution to remove the complexity of managing multiple cloud data center by automating it through a unified platform.
๐๐ฒ๐ ๐๐๐น๐น ๐๐ฐ๐ฐ๐ฒ๐๐ ๐ผ๐ณ ๐๐ผ๐บ๐ฝ๐น๐ฒ๐๐ฒ ๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐: https://www.factmr.com/checkout/4761
More Valuable Insights
In its latest report, Fact.MR offers an unbiased analysis of the market providing historical data for the period of 2017-2021 and forecast statistics for the period of 2022-2032.
The study divulges essential insights on the market on the basis of component (hardware (sensors/routers, edge nodes/gateways, and others), software, services, and edge-managed platform), applications (energy & utilities, industrial, transportation & logistics, smart cities/smart homes/smart buildings, healthcare, agriculture, retail, data centers and others), and across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East & Africa).
Check out more related studies published by Fact.MR Research: https://www.prnewswire.com/news-releases/increasing-usage-of-cloud-based-solutions-to-steer-digital-transaction-management-market-past-us-83-25-billion-by-2032--301628185.html
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