Press release
Edge Computing Market Size to Hit US$ 45.4 Billion by 2028 | CAGR of 25.4%
Edge computing refers to distributed computing paradigm that helps reduce the workload on the cloud by storing crucial data nearer to its source or destination to improve the response time. It improves the efficiency of cloud computing systems by decreasing network traffic and communication bandwidth between cloud servers and user devices. It also facilitates data acquisition, mobile signature analysis, and data caching while minimizing latency and enhancing overall process efficiency. It combines networking architecture, software, and hardware solutions to cover use cases in various organizations. As a result, edge computing is widely adopted in several organizations to boost productivity, performance, and profitability across the globe.
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Market Trends
The market is primarily driven by the rapid growth of the internet of things (IoT), the rising demand for connected devices, and increasing applications of real-time computing. In addition, the widespread integration of edge computing solutions with IoT-enabled devices is contributing to market growth. These solutions allow efficient processing, handling, and management of large volumes of data and improve internet connectivity for data transmission through the cloud. Moreover, the emergence of 4G and 5G connections, support for real-time applications, and integration of industry 4.0 to promote operational agility by using technologies bringing uniformity to the cyber and physical systems represent other major growth-inducing factors. Besides this, the expanding telecom industry and the growing implementation of multi-access edge computing (MEC) for improving application performance and mitigating network congestion are creating a favorable market outlook.
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List of Key Companies Covered in this Market Report:
ABB Ltd.
Amazon Web Services (AWS) Inc.
Cisco Systems Inc.
Digi International Inc.
General Electric Company
Hewlett Packard Enterprise Development LP
Huawei Technologies Co. Ltd.
IBM Corporation
Intel Corporation
Microsoft Corporation
SAP SE
Siemens AG.
The report has segmented the market on the basis of component, organization size, vertical and geography.
Breakup by Component:
Hardware
Software
Services
Breakup by Organization Size:
Small and Medium-sized Enterprises (SMEs)
Large Enterprises
Breakup by Vertical:
Manufacturing
Energy and Utilities
Government and Defense
BFSI
Telecommunications
Media and Entertainment
Retail and Consumer Goods
Transportation and Logistics
Healthcare and Life Sciences
Others
Breakup by Geography:
North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa
Key highlights of the report:
Market Performance (2017-2022)
Market Outlook (2023- 2028)
Porter's Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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