ID: MRFR/ICT/2348-CRR | July, 2017 | Region: Global | 89 pages | Cooked Research Reports
Edge Computing Market, By Technology (Mobile Edge Computing, Fog Computing), By Deployment (On Premise, On Cloud), By Component (Hardware, Software), By Application (IOT, Data Caching, Video Analytics, Environment Monitoring), By End Users (Surveillance, Automotive, Gaming, Healthcare, Education) - Global Forecast 2023
Market Synopsis of Global Edge Computing Market:
The Edge Computing is a method of utilizing cloud computing by analyzing and processing the data at the edge of the network. Edge computing offers data analytics, and data insights closely occurred to the deployed machines and supports data computing at the edges of a network. The real-time analytics runs at various levels which include at the edge sensor, controller, gateway, infrastructure machine, and within on-premise appliances or in the cloud.
One of the major driving factor of Edge Computing Market is proliferation of IOT. Internet of things (IoT) is a technology evolution which has changed every aspect of a human life. The IoT devices such as smartphone, smart watch, digital wearable, virtual technology such as augmented reality/virtual reality among others has changed person’s routine life and increased his routine task frequency. Further, technology evolution in IT has transformed the enterprise work performance and has bring more flexibility and speed in completing daily task by introducing cloud computing. Ubiquitous network, connected devices, process optimization, sensor driven decision analytics and marketing automation are some of the benefits of IoT for enterprises. With these benefits, IoT has been adopted by various industries such as healthcare, home, entertainment, and transportation. With massive adoption of public cloud by industries, the load on cloud has significantly increased which thereby reducing the cloud functionality and response speed. In this post-cloud era, with increasing IoT applications, it is being estimated that more than 50 billion things would be connected to internet by 2020.
The global Edge Computing market is expected to grow at USD 19.4 billion by the end of year 2023 with 17.9% CAGR during forecast period 2017-2023.
The prominent players in the market of Edge Computing market are – 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.) among others.
Global Edge Computing Market Structure
Global Edge computing market, by region is being dominated by North America which accounted for more than 45% of market share in the year 2016. Technological advancement in data center and network architecture is expected to drive the edge computing market in North America. Europe has successfully counted on second position in edge computing market globally by occupying more than 25% of market share in 2016. Asia-Pacific among all region is considered to be the fastest growing region in edge computing market due to evolution of cloud computing and big data analytics architecture which thereby fuelling the market growth of edge computing.