According to a market report, published by Sheer Analytics and Insights, The global edge computing market was valued at $8.1 billion in 2021 and it is expected to reach $90.1 billion at a CAGR of 22.4% between 2022 and 2032. More organizations are attempting to optimize their operations during the impending global economic crisis by reducing bandwidth usage, addressing latency difficulties, and resolving privacy concerns related to big data. Because of this, the adoption of edge computing is sweeping the IT sector like a wave. Additionally, a few use cases that are ideal for applying AI at the edge include machinery control and precise monitoring. A fast-moving production line needs the smallest amount of delay possible, which can be achieved by employing the edge. Artificial intelligence can be used to bring data processing closer to the production site, which can prove to be very useful. Therefore, a variety of endpoint devices, including cameras, sensors, smartphones, smartwatches, and other IoT devices, can be used more effectively thanks in large part to artificial intelligence.
Moreover, there are a few anomalies, such as rising IoT and edge spending in the healthcare and telecom industries. The need for video conferencing software like Zoom and Microsoft Teams is rising quickly in the telecom sector, and innovative solutions are being launched to fulfill the demand. Businesses are utilizing opportunities to provide innovative services as a response to the current situation. Furthermore, the swift adoption and implementation of 5G technology across numerous industries are assisting this increase in telecom edge. The ever increasing demand for large data production and processing will be handled by 5G, which promises to give greater speed and dependability. Hence, these primary factors are expected to drive the growth of the market during the forecast period from 2022 to 2032.
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Since building full-sized data centers or more advanced compared facilities will be more expensive than building edge facilities per unit, telecom companies are likely to seize this opportunity. In the upcoming years, the movement of telecom companies to the creation of massive data centers will be accelerated by this financial benefit. Edge computing has developed into a problem-oriented technology with distinctive hardware made for certain use cases. In addition, with stakeholders from several ecosystems, including network service providers, cloud and data center providers, traditional enterprise IT and industrial applications and systems, etc., coming together, the edge computing ecosystem is still in its infancy. With a well-established presence in the cloud already, hyperscalers have moved closer to the edge with the help of innovative technologies like Azure Stack, AWS Outposts, and their IoT services. Thus, all these rising factors would create more growth opportunities for the edge computing market across the globe.
The size of the edge computing market has increased due to the growth in consumer demand and technological advancement. The market share of edge computing has expanded as a result of the emergence of autonomous vehicles that can gather information about the weather, light, and road conditions, receive directions, and control, among others. On the other side, the price of the edge infrastructure is the primary factor limiting the growth of the edge computing market. People are becoming curious and wanting to test edge computing since, like in former years, its expansion was slow. But in the customers' minds, the price is the only item that poses a barrier. This would hinder the market at a certain period in the future.
According to the study, key players dominating the global edge computing market are Amazon (U.S), ABB (Switzerland), ADLINK (Taiwan), Atos (France), Alphabet Inc (U.S), Capgemini (France), Cisco (U.S), Dell (U.S), General Electronics (U.S), HPE (U.S), Honeywell International (U.S), Huawei (China), IBM (U.S), Itmus Automation (U.S), Intel (U.S), Microsoft (U.S), Nokia (Finland), Rockwell Automation (U.S), Siemens (Germany), SAP SE (Germany), among others.
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The Global Edge Computing Market – by Component Type:
The Global Edge Computing Market – by Application Type:
The Global Edge Computing Market – by Verticals:
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