Transparency Market Research (TMR) observes, the global edge computing market is highly competitive due to presence of number of companies operating in the market. Some of the key players operating in the global edge computing market are Microsoft Corporation, Cisco Systems Inc., IBM Corporation, Google Inc., and Hewlett Packard Enterprise Company. These players are increasingly taking initiatives for technological advancements. The launch of advanced technology is expected to fuel growth of the market and help players to gain higher revenue.
A report estimates, the global edge computing market was evaluated at US$8,024.5 mn in 2017 and is expected to attain value of US$13,313.7 mn by the end of 2022 with the CAGR of 10.7%. Based on component, hardware segment is anticipated to account for the leading share of 54.3% of the market in 2017 and remain dominant over the forecast period by progressing with a CAGR of 10%. Based on geography, North America is projected to dominate the global edge computing market in 2017, and is expected to remain dominant over the forecast period.
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High Adoption of Fast Transmission of Load to Propel Growth
IoT data is increasing substantially due to introduction of products such as smart devices, smart glasses, and smart watches. Edge computing technique aids for processing, collection, and collection of IoT-generated data. Moreover, rise in number of internet users and growing adoption of digital services is leading to increase in the collection of volume of sensitive data of numerous organizations. These factors are boosting growth of the edge computing market owing to increase in data is expected to propel growth of the edge computing market.
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