Growing adoption of internet of things (IoT) across several industries, increasing number of smart applications, and rising need for data-driven decision marking are some of the key factors driving the growth of the edge computing market across the globe. Growing adoption of IoT across several industries is primarily fueling the growth of the edge computing market. The traditional method of data processing and data storing in the cloud is becoming too slow to meet the requirements of end users.
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This market research report provides a comprehensive overview of the edge computing market
- Historical and the present size of the edge computing market
- Future potential of the market through its forecast for the period 2020– 2030
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
Worldwide IoT market generated revenue of around $650 billion in 2018 and it is further expected to surpass $1 trillion mark by 2022. Development of advanced wireless networking technology and growing demand for advanced data analytics are the key factors shaping the IoT market, globally. Increasing adoption of IoT devices is producing a large amount of data every day, pushing network bandwidth requirements to the limit.
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Edge computing solution allows for the data to be filtered and processed before it is sent to the cloud for storage, which reduces the network cost of data transmission. In addition, distributed architecture of edge computing reduces the latency and network load, leading to real-time automated decision-making. Hence, edge computing is becoming very essential for IoT to work effectively and realize its long-term potential.