Market Overview
The Edge Computing market industry is projected to grow from USD 36.35 Billion in 2022 to USD 168.6 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 24.51% during the forecast period (2022 - 2030).
Edge computing is a sub-sector of cloud computing that works closely with the Internet of Things devices. The sector has evolved and emerged as a mainstream IT sector and is set to grow further. As IOT devices and cloud platforms grow in demand for speed and distribution of services, the Edge Computing Market also looks at great growth prospects in the coming years. The edge computing sector is already a billion-dollar industry, thanks to recent trends of growth. The whopping CAGR for the decade will further increase the technology sector's market size and revenue flow.
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Key Players:
Key Companies in the Edge Computing market includes,
- General Electric Company
- Amazon Inc.
- Intel Corporation
- Microsoft Corporation
- SAP SE
- Schneider Electric SE
- Alphabet Inc.
Multiple factors are contributing to the growth of the Edge computing sector. The growth of the IT industry and the development of global IT infrastructure have brought in the prospects of simultaneous growth for the edge computing sector. Today, edge computing is applied in different segments. Even in different sectors of daily life, edge computing is finding usage. From hardware and software solutions, edge computing is applied in different sectors.
Since edge computing is still in its early phases of evolution, the forecast period is a great growth phase for the sector. This report discusses the edge computing market, market segmentation, and regional analysis to give a better view of market trends and developments. Industry news is also discussed to bring an in-depth analysis of the market.
Market Segmentation:
Edge Computing Industry segmentation is discussed to understand the revenue distribution among different subsectors of the market. The Edge Computing Market Size divides majorly into different segments based on different criteria.
The Edge Computing Market divides by Technology into mobile edge computing and fog computing. The Edge Computing Market divides by deployment into cloud deployment and on-premise deployment too.
Moreover, the Edge Computing Market is also divided into software and hardware-based components. Another segment in the Edge computing market is solutions based on components.
The edge computing market is divided into location-based, environment monitoring, and augmented reality sectors based on the applications segment.
The Edge Computing Market is divided into different end-user segments like education, hospitality, government, retail, and IT-based on industrial verticals. All the verticals are going to grow in the forecast period with a healthy CAGR.
Regional Analysis:
Edge Computing Market Analysis by region gives a detailed view of the regional distribution of revenue in the market. Different regional markets contribute a major share of the revenue and profits of the edge computing sector. The major regional markets are North America, Europe, Asia Pacific, and the Rest of the World. The North America and Europe regions are leading in revenue and competitor presence for the sector.
Major regional markets show many opportunities for growth for the Edge Computing global sector and influence the CAGR of the market in the forecast period.
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Edge Computing Industry Developments:
The rise of 5G. 5G is a key enabler of edge computing, as it provides the high-speed, low-latency connectivity that is essential for edge applications. As 5G networks continue to roll out, we can expect to see even more edge computing deployments.
The growth of the Internet of Things (IoT). The IoT is another major driver of edge computing, as it generates a massive amount of data that needs to be processed and analyzed in real time. Edge computing can help to offload this processing from the cloud, improving performance and reducing latency.
The development of edge-native applications. As edge computing becomes more popular, we can expect to see the development of more edge-native applications. These applications are designed to run on edge devices, and they take advantage of the low latency and high bandwidth that edge computing can provide.
The increasing adoption of edge-to-cloud interoperability. Edge-to-cloud interoperability is becoming increasingly important as edge computing deployments become more widespread. This is because it allows organizations to share data between edge devices and cloud-based applications.
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