#edgecomputingmarket

The global edge computing market is expected to grow at a CAGR of 32.48% during the forecast period. Based on end-user, the global edge computing market has been segmented into Industrial manufacturing, Telecom, Mobility, Government, Retail, Healthcare, Finance, and Other end-users.

The industrial applications of edge computing are mainly focused on the automation of industrial manufacturing and process environments, which make substantial use of industrial IoT devices, automation hardware, and connected sensors and actuators. These applications are expected to gain significant advantage from the efficiency gained due to the use of edge computing at the local node. Large-scale industrial facilities generate a large amount of data, which needs to be analyzed and stored on-the-fly to detect changes in manufacturing conditions, machine or equipment failure, system performance, input supply, quality control, and predictive maintenance.

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The global edge computing market size is expected to reach USD 28.84 billion by 2025 registering a CAGR of 54.0%, according to a new report by Grand View Research, Inc. Growing need to process large volumes of data being generated from the rise in Internet-of-Things (IoT) developments closer to the end user is expected to increase the demand for these solutions over the forecast period. Increasing emphasis on cost reduction and process automation coupled with intensified business competition is also expected to drive the market in the coming years. Organizations are endorsing this technology to enhance operations and gain real-time insights. Thus, the continued transition toward the adoption of edge computing is expected to influence the IT strategies of key companies over the forecast period.

Continued adoption of this technology for the data center application is also expected to propel the market growth. Its adoption is also expected to culminate in having micro data centers located closer to the existing infrastructure, which would help address the latency issues. Data Center Management-as-a-Service (DMaaS) is emerging as a low-cost way for data center management as it ensures effective use of the IT layer by monitoring data center’s infrastructure from the edge. DMaaS can also be utilized as a cost-efficient and flexible solution for companies willing to gain real-time insights. Stringent requirements of 5G standards, such as high reliability, ultra-low latency, and consistency in user experience, is expected to trigger the need for localized services based on Radio Access Networks (RAN).

As such, Mobile Edge Computing (MEC) is emerging as a promising computing architecture for telecom operators, IT platform providers, and system integrators. MEC adds virtualization and computing capabilities to a RAN. Prominent companies in the market include Microsoft Corp.; International Business Machines (IBM) Corp.; Cisco Systems, Inc.; Intel Corp.; and Amazon Web Services, Inc. These companies are actively developing innovative and unique solutions. For instance, Microsoft’s Azure IoT edge delivers cloud intelligence through the implementation of Azure services and Artificial Intelligence (AI) directly on cross-platform IoT devices. Similarly, IBM Corp. offers Watson IoT Platform Edge, which enables the end users to extend Watson IoT platform capabilities to edge devices.

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Further key findings from the study suggest:

High-performance     applications in the edge network are expected to propel the growth of the     software component segment over the forecast period

Data centers     end-use segment is expected to witness the fastest CAGR over the forecast     period owing to the rising need for reducing data center downtime

APAC is     projected witness the highest CAGR of more than 60% from 2019 to 2025.     Growing need for digital transformation to streamline and automate the     operations is expected to drive the regional market

Intel Corp.;     Aricent, Inc.; Amazon Web Service (AWS), Inc.; and Cisco Systems, Inc. are     some of the prominent companies in the global edge computing market

These     companies are collaborating with technology providers to deploy edge     solutions on a broader scale for high-performance applications

Original     Equipment Manufacturers (OEMs) are using this technology in their     automation and predictive maintenance solutions and transforming their     service model to enhance customer experience

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About Grand View Research:

Edge computing is a technique of enhancing cloud computing systems by processing data at the edge of the network, near the source of the data. The key beneficial factor of edge computing is that it reduces the time for operation to milliseconds and reduces load on the network. Transmission of large amounts of loads creates tremendous load on the network. Hence, edge computing processes all data at the edge of its source and analysis the data and sending only valuable information on it, instead of frequently broadcasting data over the network. For example, smart thermostat transmits data only when the temperature rises or falls from the acceptable limits.

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One of the major factors that is responsible for the global edge computing market growth is the proliferation of Internet of Things (IoT) technology. Increasing adoption of smartphones, smart watches, and intelligent wearable devices, among others are the major factors driving the demand for IoT technology. For instance, according to Coherent Market Insights analysis, in 2016, over 68% of the global population were mobile phone users, of which around 2.5 billion were smartphone users.

Advancements in technology and growing adoption of 2G, 3G, and 4G long-term evolution (LTE) wireless networks are in turn,  propelling demand for IoT technologies. This is subsequently boosting growth of the global edge computing market. These cellular networks enable connectivity and communications to cyber-crime sensitive activities such as exchange of real-time information, data, and online transactions. The demand for IoT security solutions has increasing, to ensure enhanced security and flexibility of such online communication. According to Internet World Stats, as of June 2017, among the global population of7.5 billion, the total number of Internet users accounted for 3.9 billion.

Furthermore, increasing accessibility to internet and execution of government regulatory policies to increase the penetration of IoT in several verticals like automotive, healthcare, retail, BFSI and so on are expected to favor growth of the market. For instance, in 2017, Brazilian government launched, Internet of Things: an action plan for Brazil, between 2018 and 2022, to enhance their economy and development in four different areas namely, healthcare, agribusiness, smart cities, and manufacturing. This in turn, is expected to boost growth of edge computing market over the forecast period.

However, the challenge of configuration is the major factor expected to restraint growth of the edge computing market. Not changing default password on each edge computing devices and consistently neglecting to update firmware may unintentionally create security holes, which in turn, makes these devices highly susceptible to cyber terrorism.

Edge Computing Market: Regional Insights

The global edge computing market has been segmented on the basis of regions into North America, Europe, Asia-Pacific, Latin America, and Middle East, and Africa. The market for edge computing in North America is expected to witness significant growth during the forecast period. This growth is attributed to developing IT infrastructure, which is compatible with 4G LTE and 5G networks. This in turn, propels the adoption of broadband connectivity and increases the number of smartphones subscribers in this region. According to Coherent Market Insights’ analysis, in 2016, over 88% of the U.S. population had access to the Internet, which accounts for around 280 million of the U.S. population. Furthermore, in November 2016, around 78% of the U.S. population were recorded using smartphones. This indicates increasing demand for IoT technology, which in turn, is expected to boost growth of the regional edge computing market.

Edge Computing Market: Competitive Background

Major players operating in the global edge computing market include Microsoft Corporation, IBM Corporation, Cisco Systems Inc., Google Inc., Hewlett Packard Enterprise Company, Intel Corporation, Schneider Electric SE, Nokia Corporation, Huawei Technologies Co. Ltd., and Aricent Inc.