Edge Computing Market worth $28.07 billion by 2027 – Exclusive Report by Meticulous Research® – Yahoo Finance

Edge Computing Market by Application (Smart Cities, Industrial IoT, Remote Monitoring, Content Delivery, AR VR), Industry (Manufacturing, Retail, Healthcare, Media, Telecommunications, Logistics, Government, Energy, Utilities) – Global Forecast to 2027”, published by Meticulous Research®, the edge computing market is expected to grow at a CAGR of 34.9% from 2019 to reach $28.07 billion by 2027.” data-reactid=”11″>London, Dec. 10, 2019 (GLOBE NEWSWIRE) — According to a new market research report Edge Computing Market by Application (Smart Cities, Industrial IoT, Remote Monitoring, Content Delivery, AR VR), Industry (Manufacturing, Retail, Healthcare, Media, Telecommunications, Logistics, Government, Energy, Utilities) – Global Forecast to 2027”, published by Meticulous Research®, the edge computing market is expected to grow at a CAGR of 34.9% from 2019 to reach $28.07 billion by 2027.

Edge computing is a simple method of managing data near the edge of network, where the data is being generated, instead of in a centralized data-processing warehouse. Edge computing is changing the way data is being handled, processed, and delivered from millions of devices around the world. The global edge computing market is witnessing consistent growth owing to increasing load on cloud infrastructure. Furthermore, rising adoption of industrial IoT, rising demand for low-latency processing solutions, and need for real-time and automated decision-making solutions are contributing to the overall growth of the edge computing market.

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The global edge computing market is majorly segmented by component, application, end-use industry, and geography. Based on component, the edge computing platforms segment is estimated to account for the largest share of the overall edge computing market in 2019; and this market segment is also slated to grow at the fastest CAGR during the forecast period. With an increase in edge devices and data centres, companies incessantly require software solutions capable of controlling operations of edge devices and data centres, within the network infrastructure. This, coupled with increasing need to improve operational feasibility of such network infrastructure is driving the growth of the edge computing platforms segment.

Based on application, the global edge computing market is majorly segmented into smart cities, industrial IoT, remote monitoring, content delivery, AR-VR, and others. Smart cities are estimated to command the largest share of the overall global edge computing market in 2019; and this market segment is also slated to grow at a fastest CAGR during the forecast period. Increasing push towards smart city initiatives and rising implementation of edge computing by several countries across the world to enhance building security, home automation, parking and traffic management, and city asset management are some of the key factors driving the growth of this market. According to the European Union, there were more than 250 ongoing smart city projects in almost 200 cities worldwide, in 2017.

Based on the end-use industry, the overall edge computing market is segmented into manufacturing, retail, healthcare, media & entertainment, IT & telecommunications, transportation & logistics, government & defense, energy and utilities, and others (agriculture, education, and BFSI). Among these, IT & telecommunication industry is estimated to command the largest share of the overall edge computing market in 2019; and is slated to grow at the fastest CAGR during the forecast period. The large share and the growth in this segment is attributed to the increasing need of IT vendors to deploy products and services faster to their customers.

The scope of edge computing market varies greatly across different continents. This is mainly due to difference in the rate of technological developments in different parts of the world. North America commanded the largest share of the edge computing market and is expected to maintain its dominance throughout the forecast period. Today, a large number of business enterprises in North America are adopting edge computing technologies to enhance their IT infrastructure and leverage the benefits of new technologies, such as 5G and IoT. This coupled with the presence of majority of established edge computing players and start-ups, has boosted the overall edge computing market in the North American region. However, rising government initiatives towards digitization, strong inclination of businesses and governments towards storing and processing data locally, and growing adoption of edge computing by enterprises are driving the growth in the Asia-Pacific edge computing market.

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The report also includes extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past 4 years (2016-2019). The edge computing market has witnessed number of partnerships & agreements in recent years. For instance, in September 2019, Dell (U.S.) announced a partnership with AT&T to develop open-source edge computing solutions and 5G solutions. Similarly, in July 2019, AWS (U.S.) announced a collaboration with Equinix to offer enhanced cloud connectivity for its customers. Similarly, in October 2018, Saguna Networks (Israel) announced a partnership with Vimmi to create a video delivery network solution based on multi-access edge computing.

Some of the key players operating in the global edge computing market includes Amazon Web Services (U.S.), Microsoft Corporation (U.S.), Dell Technologies (U.S.), Hewlett-Packard Enterprise (U.S.), General electric company (U.S.), Huawei Technologies (China), IBM Corporation. (U.S.), Juniper Networks (U.S.), Cisco Systems (U.S.), FogHorn Systems (U.S.), Google LLC (U.S.), Intel Corporation (U.S.), SAP (Germany), MachineShop (U.S.), and Saguna Networks (Israel) among others.

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