Edge Computing Market Benefits from Proliferation of Internet of Things
Edge computing architecture is ideally suited for a number of situations. This includes poor connectivity of IoT devices, wherein IoT devices lack seamless connectivity to a central cloud. Further, factors such as high latency, low spectral efficiency, and non-adaptive machine type of communication are some serious challenges of cloud computing architecture that are leading to a shift to edge computing framework.
A report by Transparency Market Research (TMR), forecasts the global edge computing market will be worth US$8,024.5 mn in 2017 and further become worth US$13,313.7 mn by the end of 2022 at a CAGR of 10.7% therein.
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Hardware Beats Key Component Segments with Leading Year-on-Year Growth
The report studies the global edge computing market based on a few parameters, viz. component, end-user, application, and region. Depending upon component, for instance, it can be divided into hardware, software, and services. Of them, the hardware segment accounts for the leading market share, and is likely to account for a revenue contribution of US$4,359.6 mn to the overall market in 2017. This will amount the hardware segment to constitute 54.3% of the market in 2017.
Based on end-user, the edge computing market has been segregated into education, healthcare, automotive, surveillance, and others. In terms of application, the report divides the edge computing market into IoT, data monitoring, analytics, and others.
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North America to Continue to Remain Leader
Geographically, the key segments of the global edge computing market are North America, Latin America, Europe, Japan, Asia Pacific except Japan, and the Middle East and Africa. In 2017, North America emerged as the most lucrative regional market; the region is expected to serve a demand to attract a revenue of US$3,496.2 mn in 2017. Expanding at a CAGR of 10.3% over the forecast period, the North America edge computing market is likely to be worth US$5,696.6 mn by the end of 2022.
However, the country of Japan is likely to surpass all in terms of growth rate. The region is likely to register an impressive 16.4% CAGR over 2017-2022 to reach US$1,763.5 mn by 2022.
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Europe is another key market for edge computing that is anticipated to clock 10.4% CAGR over the forecast period of 2017-2022, for the region to be worth US$3,319.4 mn by 2022 end.
Amongst all, the Middle East and Africa is expected to expand at a relatively slow CAGR of 5.3% over the forecast period to be valued at US$367.3 mn by 2022 end.
Leading companies in the global edge computing market profiled in the report include Microsoft Corporation, IBM Corporation, Cisco Systems Inc., Google Inc., Hewlett Packard Enterprise Company, Intel Corp, Schneider Electric SE, Nokia Corporation, Huawei Technologies Co. Ltd., and Aricent Inc.
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.
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