26.5% Growth Rate for Edge Computing Market by 2024 | Top Technologies, Overview, Key Insights and Company Profiles – SocioHerald

A fresh report titled “Edge Computing Market” delivering key insights and providing a competitive advantage to clients through a detailed report. The report also details the information about the global market status, growth rate, future trends, market drivers, challenges, opportunities and porter’s forces analysis with respect to these elements. An exclusive data offered in this report is collected by research and industry experts team.

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The Global Edge Computing Market to grow from US$ 2.8 Billion in 2019 to US$ 9.0 Billion by 2024, at a Compound Annual Growth Rate (CAGR) of 26.5% during the forecast period.

The market report of Edge Computing market identifies key market players as Cisco (US), HPE (US), Huawei (China), IBM (US), Dell Technologies (US), Nokia (Finland), Litmus Automation (US), FogHorn Systems (US), SixSq (Switzerland), Machine Shop (US), Saguna Networks (Israel), Vapor IO (US), ADLINK (Taiwan), Altran (France), and Axellio (US).

“Industrial Internet of Things application segment to grow at the highest CAGR during the forecast period”

The implementation of IoT across industries has increased rapidly, which drives companies to implement solutions that could enhance IoT deployments through data processing closer to the source.By infusing edge computing in Industrial Internet of Things (IIoT) processes, companies could achieve an improved network communication and cooperative coordination with the cloud connected to the system. Further, it helps organizations to reduce workloads by facilitating lost-cost, low-power, and high bandwidth networks.

“Manufacturing vertical to hold the largest market size during the forecast period”

Edge computing facilitates localized processing which helps reduce latency issues and enables smart and intelligent manufacturing through predictive analytics. With the rise in IoT deployment, manufacturing companies have been rapidly adopting edge computing to improve interoperability among IoT devices, reduce unforeseen downtime issues, and improve production efficiency.

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“Edge computing market in Asia Pacific to grow at the highest CAGR during the forecast period”

The high growth of the market in Asia Pacific (APAC) is attributed to the pervasive use of mobile devices, growing data volumes, and increasing assimilation of workload-centric Information Technology (IT) infrastructure in the region with the rising need of businesses to remain globally competitive. Furthermore, the inclination of countries across the region toward emerging technologies, such as cloud computing, IoT, 5G, and Artificial Intelligence (AI), is also expected to fuel the growth of the edge computing market.

Study Objectives:

  • To analyze opportunities in the market for stakeholders by identifying high-growth segments of the edge computing market
  • To define, describe, and forecast the edge computing market by component, application, organization size, vertical, and region
  • To provide detailed information about major factors (drivers, opportunities, restraints, and challenges) influencing the growth of the market
  • To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
  • To forecast the market size of the market segments with respect to 5 main regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America
  • To profile key players of the market and comprehensively analyze their market size and core competencies in the market
  • To track and analyze the competitive developments, such as new product launches, product enhancements, acquisitions, partnerships, and collaborations in the global edge computing market

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This UrIoTNews article is syndicated fromGoogle News