Pune, India, Aug. 09, 2018 (GLOBE NEWSWIRE) -- Market Research Future’s in-depth market study on the global market for edge computing set to expand at an impressively high growth rate of 27.3% CAGR throughout the appraisal period, owing to the proliferation of IoT and upcoming market trends like cell towers.
Edge Computing Market
Market Research Future (MRFR) report states that the global market for edge computing is set to achieve the valuation of USD 9,200 million by 2023. The market is also well on its way to register an impressive CAGR of 27.3% during the forecast period (2017-2023). Edge computing is a way to streamline the traffic flow from the internet of things (IoT) devices and also provide real-time local data analysis. To put it differently, edge computing allows data produced by IoT devices to be processed closer to where it is created and not send it across long routes to data centers.
Competitive Analysis
Amazon (U.S.), General Electric (U.S.), Microsoft Incorporation (U.S.), Intel Corporation (U.S.), SAP SE (Germany), Alphabet Inc. (U.S.), Aricent (U.S.), IBM Corporation (U.S.), Huawei Technologies (China), Integrated Device Technology (U.S.) are some of the major players in the edge computing market. Among these, Amazon, General Electric, Microsoft Corporation, and Intel Corporation hold major market shares. They compete on the basis of digital services, pricing, reliability, and services.
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Popularity of IoT to Propel Edge Computing Market
In present times, digital transformation has become a top priority in a number of IT firms, turning the Internet of Things (IoT) into one of the biggest enterprise technology trends. However, IoT deployments require information processing and decision-making closer to the IoT devices. Instead of incurring the cost and latency of the process of sending this data to the cloud or on-premise centralized data center, many firms incorporate edge computing within their infrastructures. This is where edge computing plays a big role, coming in handy in a situation where time is critical.
IoT proliferation has created a huge number of network access points that subsequently generate and amass more data. Thus, increasing number and dependency on IoT devices along with the need for faster data processing will ascertain the market growth during the forecast period.
Cell Towers: New Trend on the Block
A general agreement amongst market giants is that cell towers are a logical location for edge computing. Thus, companies like Crown Castle and Vertical Bridge are exploring this new trend by investing in data center technology. This refers to the companies evolving into a tower operator with one type of wireless infrastructure that will support their next set of services.
Mobile Edge Computing Ahead of the Crowd
The global market for edge computing comprises segments on the basis of technology and end-user.
Technology-wise, the market is segmented into mobile edge computing (MEC) and fog computing. Mobile edge computing segment has witnessed significant growth as MEC provides real-time radio information that is used by applications and services to optimize content delivery and also utilize the network efficiently. Furthermore, it enables mobile network operators (MNOs) to quickly deploy several monetizing services for content delivery, IoT, retail, and enterprise applications.
The various end-users in the global Edge Computing Market are surveillance, gaming, and media, automotive, healthcare, education and others. In the healthcare industry, research collaborations are constantly increasing, with organizations focusing on collaborative studies to tackle healthcare issues swiftly and effectively. Thus, such researches and presence of vast data set prompt establishments to incorporate systems with high computational capabilities like edge computing systems.
North America to Dominate the Global Edge Computing Market
North America, Europe, Asia Pacific, and Rest-of-the-World (RoW) are regions considered owing to the adoption of edge computing. The top countries contributing to the market revenue in North America are the United States (US) and Canada. Out of these countries, a sizeable amount of market revenue is generated by the US alone. The economic condition in the region is bright owing to the thriving IT industry. Number of startups and small and medium enterprises (SMEs), which are growing on the back of government regulations and compliance can act as a tailwind for the market.
The Europe market observes major trends in the market such as growing number of devices and the dependency on IoT devices. The enterprises in the region create immense demand for edge computing based on their need for faster processing of huge amount of data.
The Asia Pacific region is subject to a strong market growth with countries like China, India, Singapore leading the regional market. The market bolsters further on account of a number of government initiatives to encourage digitization coupled with the need for advanced infrastructure. Moreover, APAC offers the market players with various potential opportunities, thereby resulting in heavy investments by said vendors.
The Rest of the World (RoW) comprises the Middle East and Africa are faring well in the global market as foreign investors are taking note of the untapped potential of the region. These players strive to expand their customer base and strengthen their position by competing with other relevant vendors in the regional market. For instance, in 2018, Amazon.com Inc upped its ante by expanding its cloud computing portfolio, directly competing with rival Microsoft Corp. in Cape Town. The company achieved this feat by expanding its infrastructure in the emerging technology hub, Cape Town.
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Industry News
- Google has recently forayed into the market of edge computing by launching cloud IoT edge and Tensor Processing Unit (TPU). TPU is an application designed by Google to accelerate machine learning workloads and will be available at the edge. Google will also be launching cloud IoT Edge that extends Google Cloud’s data processing and machine learning to edge devices. Google is the recent entrant into the global market for edge computing and is bound to get stiff competition from companies like Amazon and Microsoft who are already well-established.
- Array Networks is set to invest USD 20-50 million in India, for the development of its channel partner community in HCI, and also set up a development center in the country. The company will incorporate edge computing solutions in its IT infrastructure to cater to its changing demands.
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