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Edge Computing Market 2019: Real-Time Data Processing in IoT devices To Goad the Industry


iCrowdNewswire   Nov 20, 2019  1:58 PM ET

The global edge computing market is expected to reach US$ 9.3 billion by 2026, growing with a significant CAGR during the forecast period. The growing demand for edge computing from large enterprises segment to drive the growth of the market. 

The global edge computing market is expected to grow at a significant rate during the forecast period. The growing need for real-time applications in data analysis from various connected sensors and devices at the edge of network is driving the market demand for edge computing. With the rising adoption of cloud across the globe, huge amounts of data are generated that require time for processing. Cloud computing uses a single datacentre, whereas edge computing does data processing at the edge device, which reduces time latency. Owing to the various features provided by edge computing such as reduction in latency, reduction in bandwidth and the associated costs, real-time data processing, and others, it is widely being adopted across the globe. 

 

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Growth of e-commerce is generating demand for manufacturing and logistics services. Edge computing is useful in applications for logistics and manufacturing industry, owing to the adoption of IoT in these industries. The amount of data generated by multiple sensors used in the systems in these industries require data analysis with high accuracy. Moreover, security is a major concern, as edge computing is a decentralized architecture and is more vulnerable to cybersecurity risks.  

Various strategies such as joint ventures, partnerships, and new product developments are being undertaken by key players in the edge computing market, to gain competitive edge in the market. For instance, in August 2017, China Telecom Americas, a subsidiary of China Telecom Corporation, collaborated with Zhenhai Refining and Chemical Co. The collaboration has been done to build a smart petroleum refinery using multi-access edge computing (MEC) to reduce latency and provide a better user experience.  

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