Dublin, Oct. 31, 2022 (GLOBE NEWSWIRE) -- The "Edge Computing Market by Component (Hardware, Software, and Services), Application (Smart Cities, Remote Monitoring, IIoT, AR and VR, Content Delivery), Organization Size (Large Enterprises and SMEs), Vertical and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The edge computing market size is expected to grow from USD 44.7 billion in 2022 to USD 101.3 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 17.8% during the forecast period. The requirement of companies for optimizing business performance through proactive asset management has compelled the enterprise to harness the power of edge computing.
The software enables benefit the organizations by enhancing the edge computing solution's execution and streamlining their operations
The edge computing platform enables to debug and test data flows on remote data and the edge computing software helps is improving performance by achieving the next level of security, such as edge-based threat detection, data minimization, and decentralized infrastructure.
The proliferation of IIoT devices makes the introduction of edge computing functionalities easier to be deployed at end-user locations.
Industrial IoT combines real-time processing, hardware optimization capabilities for IoT systems to increase the efficiency of machines and the throughput of the entire process. Smart robotics, remote diagnosis, asset optimization, connected product integration, and smart construction applications will drive edge computing adoption in various industries.
The intensely competitive market scenario has encouraged SMEs to invest in edge computing solutions to achieve high business efficiency
Being constrained by limited budgets, small IT infrastructure, and staff, SMEs look for flexible, scalable, and cost-effective solutions. Edge computing brings a lot of capabilities for SMEs. These capabilities are hard to own if bought separately. Due to pay-as-you-use models, SMEs can access the capabilities, such as AI analytics and development platform.
Edge computing in the manufacturing industry has specific importance in the overall business operations and is expected to deliver a higher RoI
Edge computing has played an important role in allowing manufacturers to reach the goal of digitization of their facilities through edge devices. The demand for edge infrastructure is projected to increase as service complexity rises and the infrastructure edge becomes more accessible
North America holds the largest market size of the edge computing market in 2022
The two major countries contributing towards region's growth: the United States and Canada are expected to boost the adoption of edge computing solution in the region. The vendors in this region are continuously focusing on developing and integrating edge computing solutions for organizations that are willing to streamline their customer care processes. Several startups have emerged and grown to deliver platforms for developing edge-enabled solutions which are anticipated to boost the regional market's growth. For instance, Telus Communications and MobiledgeX, Inc. collaborate to build the MobiledgeX Early Access Programme, which has allowed developers to build, test, and analyze the efficacy of edge-enabled applications in a low-latency environment.
Market Dynamics
Drivers
- Growing Adoption of IoT Across Industries
- Exponentially Increasing Data Volume and Network Traffic
- Rising Demand for Low-Latency Processing and Real-Time, Automated Decision-Making Solutions
Restraints
- Initial Capex for Infrastructure
Opportunities
- Emergence of Autonomous Vehicles and Connected Car Infrastructure
- Advent of 5G Network to Deliver Instant Communication Experiences
- Challenges
- Complexity in Integrating with Existing Cloud Architecture
- Cyberattacks and Limited Authentication Capabilities at the Edge
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview and Industry Trends
6 Edge Computing Market, by Component
7 Edge Computing Market, by Application
8 Edge Computing Market, by Organization Size
9 Edge Computing Market, by Vertical
10 Edge Computing Market, by Region
11 Competitive Landscape
12 Company Profiles
13 Adjacent and Related Markets
14 Appendix
Companies Mentioned
- Adlink
- Amazon Web Services
- Axellio
- Belden
- Capgemini
- Cisco
- Clearblade
- Dell Technologies
- Digi International
- Edge Intelligence
- Edgeconnex
- Edgeiq
- Edgeworx
- Fastly
- GE Digital
- Hewlett Packard Enterprise
- Hivecell
- Huawei Technologies
- Ibm
- Intel
- Juniper Networks
- Litmus Automation
- Microsoft
- Moxa
- Mutable
- Nokia
- Saguna Networks
- Section
- Sierra Wireless
- Sixsq
- Stackpath
- Sunlight.Io
- Vapor Io
- Vmware
For more information about this report visit https://www.researchandmarkets.com/r/z4hhk3
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