Edge Computing Market Expansion: Key Factors Driving Growth and Innovation
According to a new market research report titled, 'Edge Computing Market by Component (Hardware, Platforms, Services), Application (Smart Cities, Industrial IoT, AR/VR, Other), End-use Industry (Energy & Utilities, Manufacturing, Retail, Other), and Geography-Global Forecast to 2031,' the edge computing market is projected to reach $169.3 billion by 2031, at a CAGR of 37.4% from 2024 to 2031.Edge computing refers to managing data at the network's edge, where it is generated, rather than processing it in a centralized data-processing warehouse. Edge computing is rapidly transforming the way data is handled, processed, and delivered from countless devices worldwide. The benefits of edge computing include reduced operating costs, minimized internet bandwidth usage, and enhanced performance. These advantages are expected to drive the growth of the edge computing market in the coming years.
The edge computing market is expected to witness significant growth in the upcoming years, driven by the rapid proliferation of intelligent IoT applications across various industries. The increase in data collected from IoT devices, coupled with the widespread availability of high-speed broadband networks and the advent of 5G technology, is fueling the demand for high-speed data processing.
The edge computing market is segmented by component (hardware, platforms, and services {training & support services and consulting services}), application (smart cities, industrial IoT, remote monitoring, content delivery, AR/VR, and other applications), end-use industry (manufacturing, retail, healthcare, media & entertainment, telecommunications, transportation & logistics, government & defense, energy & utilities, and other end-use industries), and geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.
Download Free PDF Sample Copy of the Report (with COVID-19 Impact Analysis): https://www.meticulousresearch.com/download-sample-report/cp_id=5061
Based on component, the edge computing market is segmented into hardware, platforms, and services. In 2024, the hardware segment is expected to account for the largest share of over 52% of the edge computing market. The large market share of this segment is attributed to the increasing IoT deployments and market players' increasing investments in edge computing infrastructure. For instance, in February 2023, bitsensing (South Korea) launched the 24GHz Traffic Insight Monitoring Sensor (TIMOS), powered by the NVIDIA Jetson platform, with AI edge computing to enable smart city environments by delivering accurate and reliable real-time detection on the road including traffic statistics, incidents, violations, and ETA.
Based on application, the edge computing market is segmented into smart cities, industrial IoT, remote monitoring, content delivery, AR/VR, and other applications. In 2024, the smart cities segment is expected to account for the largest share of over 22% of the edge computing market. The large market share of this segment is attributed to the increasing number of smart city projects worldwide and the rising adoption of smart technologies for urban management. Smart cities are increasingly incorporating edge computing strategies to mitigate the costs associated with transmitting extensive data and reduce bandwidth requirements.
Based on end-use industry, the edge computing market is segmented into manufacturing, retail, healthcare, media & entertainment, telecommunications, transportation & logistics, government & defense, energy & utilities, and other end-use industries. In 2024, the energy & utilities segment is expected to account for the largest share of over 19% of the edge computing market. The large market share of this segment is attributed to the increasing initiatives undertaken by market players to implement edge computing for data processing in remote locations and the growing need to enhance production capabilities, streamline processes, improve sustainability, and extend the life of assets in the energy & utilities industry. For instance, in June 2023, Itron Inc. (U.S.) launched Edge Gateway, an edge-computing platform aimed at empowering utilities to achieve decarbonization and sustainability objectives while efficiently managing critical infrastructure.
Based on geography, the edge computing market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, North America is expected to account for the largest share of over 43% of the edge computing market. North America's large share is attributed to the region's well-established technological and educational infrastructure, high adoption of advanced technologies, and concentration of numerous established edge computing companies and start-ups. Furthermore, the adoption of edge computing solutions has been on the rise among North American enterprises seeking to enhance their IT infrastructure and harness the advantages of cutting-edge technologies, notably 5G and IoT.
The key players operating in the edge computing market are Amazon Web Services (U.S.), Microsoft Corporation (U.S.), Dell Technologies, Inc. (U.S.), Hewlett-Packard Enterprise Company (U.S.), General Electric Company (U.S.), Huawei Technologies Co., Ltd. (China), IBM Corporation (U.S.), Juniper Networks, Inc. (U.S.), Cisco Systems, Inc. (U.S.), FogHorn Systems, Inc. (U.S.), Google LLC (U.S.), Intel Corporation (U.S.), SAP SE (Germany), MachineShop, Inc. (U.S.), and Saguna Networks Ltd. (Israel).
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/edge-computing-market-5061
Scope of the Report:
Edge Computing Market Assessment-by Component
• Hardware
• Platforms
• Services
• Training & Support Services
• Consulting Services
Edge Computing Market Assessment-by Application
• Smart Cities
• Industrial IoT
• AR/VR
• Remote Monitoring
• Content Delivery
• Other Applications
Edge Computing Market Assessment-by End-use Industry
• Energy & Utilities
• Transportation & Logistics
• Manufacturing
• Healthcare
• Government & Defense
• Retail
• Telecommunications
• Media & Entertainment
• Other End-use Industries
Edge Computing Market Assessment-by Geography
• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• South Korea
• Australia & New Zealand
• Rest of Asia-Pacific
• Latin America
• Middle East & Africa
You can Buy Report from Here: https://www.meticulousresearch.com/Checkout/27117811
About Us
We are the trusted research partners for leading businesses around the world, providing market intelligence focused towards building revenue transformation strategies. Our research is used by Fortune 500 organizations to attain success by scouting next generation revenue opportunities well ahead of their competition.
Address
Office No-202, 203,204,205,206
2nd Floor, Pushpak Business Hub,
Wakad, Pimpri-Chinchwad,
411057, India.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Edge Computing Market Expansion: Key Factors Driving Growth and Innovation here
News-ID: 3623355 • Views: …
More Releases from Meticulous Research
The Cloud Managed Services Market is projected to reach $247.5 billion by 2030
The Cloud Managed Services Market is projected to reach $247.5 billion by 2030, growing at a robust CAGR of 14.2% from 2023 to 2030. This growth is fueled by advancements in cloud technologies, increasing demand in sectors like BFSI and healthcare, and a rising focus on customized and managed cloud services. However, challenges such as high costs, security risks, compliance issues, and limited flexibility may impact market growth.
Download free…
Language Learning Market Projected to Reach $124.6 Billion by 2031
Meticulous Research® recently published a report titled, "Language Learning Market by Age Group (40 years), Language (English, Mandarin, Spanish, French, German, Italian, Japanese), End User (B2C, B2B), and Geography - Global Forecast to 2031."
Download sample report here: https://www.meticulousresearch.com/download-sample-report/cp_id=5561
According to the report, the language learning market is anticipated to reach $124.6 billion by 2031, growing at a CAGR of 10.7% from 2024 to 2031. Key factors fueling this growth…
Oncology Information Systems Market to be Worth $4.45 Billion by 2030: Analytica …
Introduction:
Meticulous Research® recently released a comprehensive report titled "Oncology Information Systems Market By Offering (Software, Services) Application (Medical, Surgical, Radiology Oncology) End User (Hospital, Diagnostic Imaging Center, Cancer Care Center) - Global Forecast to 2030." The report reveals that the oncology information systems (OIS) market is projected to reach approximately $4.45 billion by 2030, growing at a compound annual growth rate (CAGR) of 7.4% from 2024. This growth is…
IoT Sensors Market to be Worth $56.8 Billion by 2030
Meticulous Research®-a leading global market research company, published a research report titled, 'IoT Sensors Market by Offering (Image Sensors, RFID Sensors, Biosensors, Humidity Sensors, Optical Sensors, Others), Technology (Wired, Wireless), Sector (Manufacturing, Retail, Consumer Electronics, Others), & Geography - Global Forecast to 2030.'
According to this latest publication from Meticulous Research®, in terms of value, the IoT sensors market is projected to reach $56.8 billion by 2030, at a CAGR of…
More Releases for Edge
Immediate Edge Reviews: immediate edge uk scam or legit?
Visit official website >> https://bit.ly/3ogMMSg
Crypto is a virtual currency that typically uses decentralized control. Each cryptocurrency work through technology like blockchain that serves as a public financial transaction database. Bitcoin as the most popular cryptocurrency is an open-source digital currency initiated in 2009, that uses P2P networking for trading. Recently, it has gained massive popularity as it has been increasing rapidly. It was worth $100 in 2013, and in 2021,…
Global Edge Router Market Research Report 2019-2025 | Mobile Edge, Apple, HP, Sa …
Edge Router is million US$ and it will reach million US$ in 2025, growing at a CAGR of from 2019; while in China, the market size is valued at xx million US$ and will increase to xx million US$ in 2025, with a CAGR of xx% during forecast period.
In this report, 2018 has been considered as the base year and 2019 to 2025 as the forecast period to estimate the…
Edge Analytics Market - Revolutionary Trends 2025 | Prism Tech, Analytic Edge, C …
Global Edge Analytics Market: Overview
With a commanding CAGR, the world edge analytics market is projected to gain strength from the aggravating adoption of edge analytics that elevates cost optimization and scalability. The upgradation of network devices with the introduction of real-time and predictive intelligence could lay down a robust platform for the global market to advance further. Furthermore, the implementation of connected devices which brought about the snowballing of…
Edge Analytics Market - Unique aspects anticipated 2025 | Prism Tech, Analytic E …
Global Edge Analytics Market: Snapshot
The global edge analytics market has risen to the fore in recent years as a consequence of the rising importance of big data analytics in corporate operations. Rising use of machine systems utilizing Internet of Things technology is also likely to be vital for the global edge analytics market in the coming years. Rising use of data accrued from disparate systems in industrial operations and corporate…
Edge Analytics Market - Latest and newest developed technology 2025 | Prism Tech …
Global Edge Analytics Market: Snapshot
The global edge analytics market has risen to the fore in recent years as a consequence of the rising importance of big data analytics in corporate operations. Rising use of machine systems utilizing Internet of Things technology is also likely to be vital for the global edge analytics market in the coming years. Rising use of data accrued from disparate systems in industrial operations and corporate…
Edge Analytics Market - Constant new innovations foreseen 2025 | Prism Tech, Ana …
Global Edge Analytics Market: Snapshot
The global edge analytics market has risen to the fore in recent years as a consequence of the rising importance of big data analytics in corporate operations. Rising use of machine systems utilizing Internet of Things technology is also likely to be vital for the global edge analytics market in the coming years. Rising use of data accrued from disparate systems in industrial operations and corporate…