Edge Computing Market Growth: Global Industry Size, Share, Trend, Demand, Top Players

According to our new research study on "Edge Computing Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Component, Organization Size, Application, and Industry," the edge computing market is projected to reach US$ 132.11 billion by 2028 from US$ 40.84 billion in 2022; the market size is estimated to grow at a CAGR of 21.6% from 2022 to 2028. Autonomous vehicles can connect to the edge to improve safety, enhance efficiency, reduce accidents, and decrease traffic congestion. These cars are equipped with various sensors, and thus, large volumes of data are created, which need to be processed instantly. Machine learning (ML) algorithms used in self-driving cars extract insights from raw data to determine road conditions and make decisions based on them. The growing integration of vehicle-to-everything (V2X) technology in autonomous vehicles would offer potential opportunities for the edge computing market growth in the coming years.

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The report segments the global Market as follows:

By Component (Hardware, Software, and Services)
By Organization Size (SMEs and Large Enterprises)
By Application (Smart cities, Industrial Internet of Things (IIoT), Content delivery, Augmented Reality and Virtual Reality, and Others)
By Industry (Manufacturing, Energy & Utility, Government, IT and Telecom, Healthcare, Retail and Consumer Goods, and Others)

The edge computing market has been analyzed on the basis of the following segments: component, application, enterprise size, industry, and geography. Based on component, the market is further segmented into hardware, software, and services. The software segment is expected to held the largest share in the edge computing market during the forecast period. The edge computing market, by application, is subsegmented into smart cities, Industrial Internet of Things (IIoT), content delivery, augmented reality and virtual reality, and others. The smart cities segment is expected to held the largest share in the market during the forecast period. The market, by enterprise size, is subsegmented into small and medium enterprises, and large enterprises. The SMEs segment is expected to grow at the height CAGR in the market during the forecast period.

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The COVID-19 outbreak dramatically impacted the global economy during its peak in 2020, and the crisis also hampered business activities in the IT sector. The outbreak favored the edge computing market as the work-from-home model accelerated the transition to bring data processing and delivery capabilities closer to the data's source for enhancing convenience for employees working from remote locations, without altering computing intelligence and security. The pandemic compelled enterprises to rapidly move their critical workload to the cloud to ensure the seamless functioning of their businesses. With the cloud gaining momentum, enterprises began paving the way to optimize their networks, storage capacities, and agility, wherein edge computing turns out to be the perfect solution to meet the required capabilities.

The Key Players in The Global Market Are: 

ADLINK Technology
Amazon Web Services, Inc.
Dell Technologies
EdgeConnex Inc.
FogHorn Systems
International Business Machine Corporation
Litmus Corporation
Microsoft Corporation
The Hewlett Packard Enterprise Company
Vapor IO, Inc

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Answers that the report acknowledges:

Market size and growth rate during forecast period.
Key factors driving the Market.
Key market trends cracking up the growth of the Market
Challenges to market growth.
Key vendors of Edge Computing Market
Detailed SWOT analysis.
Opportunities and threats face by the existing vendors in Global Market
Trending factors influencing the market in the geographical regions.
Strategic initiatives focusing the leading vendors.
PEST analysis of the market in the five major region

Contact Us:
If you have any queries pertaining to the report or would like further information, feel free to reach out to us at-
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

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The Insight Partners is a one stop industry research provider of actionable solutions. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are specialist in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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This release was published on openPR.