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Edge Computing Market Rising Trends and Technology Outlook … – Taiwan News

The recent research report published by Report Ocean gives an insight into the Edge Computing Market. According to this published competitive intelligence analysis, the global market is expected to experience a promising annual revenue increase (USD in Mn) in 2021. A comprehensive overview and precise insights into possible future scenarios for the worldwide market are provided in this study.

Edge Computing Market to Reach USD 123 Billion by 2028

The edge computing market is growing at a high CAGR because of the rising integration of 5G technologies, developing IT infrastructure in various developed and developing countries along with rising adoption of technologies such as IoT, data analytics, sensors, machine learning, etc., among various industry verticals

A recent study conducted by the strategic consulting and market research firm,Report Ocean, revealed that the edge computing market was worth USD 35.8 billion in the year 2021. It is estimated to grow at a CAGR of 19.40%, earning revenue of around USD 123.8 billion by the end of 2028.The market is flourishing at a high rate owing to the rising integration of 5G technologies, developing IT infrastructure in various developed and developing countries along with rising adoption of technologies such as IoT, data analytics, sensors, machine learning, etc., among various industry verticals. However, high risks of data breaches along with the involvement of high storage capacity needs may act as a huge restraining factor for the edge computing market growth.

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Increasing Volume of Data and Need for Improved Response Time is Anticipated to Boost the Market Growth in the Forecast Period

With the increasing data volume, edge computing provides a reduced latency period for the devices. Therefore, it is proving highly efficient for the IoT and other upcoming technologies as it can provide a quicker response due to local processing compared to data centers in remote places. Due to its faster response time, it is especially proving a transforming technology in the healthcare sector, mainly during surgical procedures. Surgeries not only require high precision but also need speed and efficiency. Due to this, the demand for edge computing is projected to rise in the forecast period.

High Demand from Large Enterprises is Driving the Edge Computing Market

Based on organization size, the edge computing market is segmented into small and medium-sized enterprises and large enterprises. The large enterprise segment holds the largest share in the market due to its high financial capacity in exploiting the benefits of advanced technologies including data analytics, big data, edge computing, etc. Furthermore, the need for edge computing is expanding among multinational corporations as these enterprises are establishing their business in new geographical locations, which is anticipated to boost the overall edge computing market.

Edge Computing Market – By Vertical

Based on verticals, the edge computing market is categorized into manufacturing, energy and utilities, government and defense, telecommunications, media and entertainment, retail and consumer goods, transportation and logistics, healthcare and life sciences, and other verticals. The manufacturing sector accounts for the largest market share owing to the rising automation and the adoption of sensors and IoT devices into operations to boost overall efficiency. Therefore, the manufacturers are adopting edge computing for the management and analysis of large volumes of data.

Edge Computing Market – Regional Insights

Geographically, the edge computing market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. North America dominates the edge computing market. However, the Asia-Pacific region is projected to register the highest growth rate during the forecast period. Emerging economies such as China, India, Japan, and countries like Singapore are emerging as potential markets for edge computing and are attracting the global players attention, which is anticipated to drive the market growth in the forecast period. Furthermore, rising government spending towards IT infrastructure development and increasing penetration of 5G technologies is also providing lucrative growth opportunities to the market.

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Impact of COVID-19 on Edge Computing Market

The unprecedented COVID-19 pandemic outbreak provided lucrative growth opportunities to the edge computing market. The global restrictions in the manufacturing and supply chains of various industries posed huge challenges to the operations of industries. To overcome these challenges, the enterprises leveraged advanced technologies including 5G and edge computing for remote monitoring access of their operations. Furthermore, edge computing proved to be useful in the healthcare sector as well owing to the surge in the scope of telemedicine and remote patient monitoring during the peak of the COVID-19 pandemic.

Competitive Landscape

The leading market players of the edge computing market are Cisco Systems, Inc., Microsoft Corporation, IBM Corporation, Huawei Technologies Co., Ltd., Intel Corporation, Hewlett Packard Enterprise, ClearBlade, Inc., Amazon Web Services Inc., Google LLC, General Electric Company, FogHorn Systems, ADLINK Technology Inc., Juniper Networks Inc., EdgeIQ, Juniper Networks Inc., Altran Group, Dell Technologies Inc., Honeywell International Inc., Digi International Inc., Sierra Wireless, Belden Inc., Moxa Inc., Atos SE, and other prominent players.

Market Segment:

By Application(Smart Cities, Industrial Internet Of Things, Remote Monitoring, Content Delivery, Augmented Reality And Virtual Reality, Other Applications),

By Organization Size(Small And Medium-Sized Enterprises, Large Enterprises),

By Vertical(Manufacturing, Energy And Utilities, Government And Defense, Telecommunications, Media And Entertainment, Retail And Consumer Goods, Transportation And Logistics, Healthcare And Life Sciences, Other Verticals)

By Region(North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA)

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The edge computing market is highly consolidated and concentrated due to the presence of multinational conglomerates such as Cisco, Microsoft, Google, IBM, etc. However, several startups are also emerging with small and micro-scale data centers. The companies constantly launch new products and offerings to gain a competitive edge. Furthermore, the adoption of competitive strategies such as partnerships, mergers, acquisitions, collaborations, etc., is also prominent in this market.

Dont miss the business opportunity of the edge computing market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the edge computing market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the edge computing market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

Table of Content:

  • Report Overview
  • Global Growth Trends
  • Competition Landscape by Key Players
  • Data Segments
  • North America Market Analysis
  • Europe Market Analysis
  • Asia-Pacific Market Analysis
  • Latin America Market Analysis
  • Middle East & Africa Market Analysis
  • Key Players Profiles Market Analysis
  • Analysts Viewpoints/Conclusions
  • Appendix

Key Reasons to Buy this Report:

  • Access to date data compiled by means of our researchers. These grant you with historic and forecast data, which is analyzed to inform you why your market is set to change
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  • The concise analysis, clear graph, and desk structure will allow you to pinpoint there cords you require quickly
  • Provision of market cost(USD Billion)records for every phase and sub-segment
  • Indicates the area and section that is predicted to witness the quickestincreaseasnicely as to dominate the market
  • Analysis through geography highlighting the consumption of the product/service in the area asnicelyas indicating the elements that are affecting the market in side every region
  • Competitive panorama which contains the market rating of the predominant players, along side with new service/product launches, partnerships, commercial enterprise expansions, and acquisitions in theprevious5years of organizations profiled
  • Extensive business enterprise profiles comprising of business enterprise overview, employerinsights, product benchmarking, and SWOT evaluation for the primary market players
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About Report Ocean:

We are the best market research reports provider in the industry. Report Ocean believes in providing quality reports to clients to meet the top line and bottom line goals which will boost your market share in today’s competitive environment. Report Ocean is a ‘one-stop solution’ for individuals, organizations, and industries that are looking for innovative market research reports.

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