Edge Computing Market Outlook
According to a new report by Expert Market Research titled, “Edge Computing Market Size, Share, Analysis, Report and Forecast 2024-2032″, the global edge computing market is projected to grow at a CAGR of 28.40% between 2024 and 2032. Aided by the growing demand for real-time data processing and the expanding Internet of Things (IoT) landscape, the market is expected to grow significantly by 2032.
Edge computing refers to the practice of processing data near the edge of the network, where the data is being generated, instead of in a centralised data-processing warehouse. This technology has gained tremendous traction across various sectors due to its ability to reduce latency, increase processing speed, and enhance data security.
One of the primary factors driving the edge computing market growth is the burgeoning IoT ecosystem. With an increasing number of devices connected to the internet, the need for efficient data processing and analysis has become paramount. Edge computing allows for quicker data analysis, enabling real-time decision-making, which is critical in industries like manufacturing, healthcare, and automotive.
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Furthermore, the growing emphasis on enhancing user experience and the demand for low-latency processing in applications such as online gaming, video streaming, and augmented reality (AR) have further catalysed the edge computing market demand.
The deployment of 5G technology is another significant driver for the market expansion. 5G networks promise higher speeds and lower latency, making them the perfect backbone for edge computing applications. The synergy between 5G and edge computing is set to unlock new possibilities in smart city projects, autonomous vehicles, and remote healthcare services.
North America holds a significant portion of the edge computing market share, primarily due to the region’s technological advancements and substantial investments in IoT and 5G infrastructure.
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The edge computing market outlook appears highly promising, with several emerging trends poised to shape its trajectory. The increasing integration of Artificial Intelligence (AI) and Machine Learning (ML) in edge computing is expected to bring more sophisticated analytics and automation capabilities. Additionally, the growing focus on sustainable and energy-efficient computing solutions may lead to the development of green edge computing technologies.
Edge Computing Market Segmentation
The market can be divided based on component, end use, and region.
Market Breakup by Component
- Hardware
- Services
- Platforms
Market Breakup by End Use
- Manufacturing
- Government and Defence
- Healthcare
- Transportation and Logistics
- Retail and Consumer Goods
- Telecom and IT
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global edge computing market. Some of the major players explored in the report by Expert Market Research are as follows:
- Amazon Web Services, Inc.
- Cisco Systems, Inc. (NASDAQ: CSCO)
- Hewlett Packard Enterprise Development LP
- Huawei Technologies Co., Ltd.
- International Business Machines Corporation (NYSE: IBM)
- Capgemini Service SAS
- Microsoft Corporation (NASDAQ: MSFT)
- Others
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