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According to a comprehensive research report by Market Research Future (MRFR), “Edge Computing Market” information by Technology, by Components, by Deployment, by Application and Region – Forecast to 2030” market size to reach USD 168.6 Billion, growing at a compound annual growth rate of 24.51% by 2030.
The global edge computing market has prominent players such as:
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COVID-19 Impact
The global COVID-19 pandemic has had a severe impact on the majority of the market sectors across the globe. But the global health crisis had quite the opposite impact on the growth of the edge computing market. Several countries across the globe implemented partial or complete lockdowns in order to curb the spread of the disease. Considering the travel restrictions across several regions worldwide, all the process was done digitally. The situation has generated massive demand for the edge computing market and raised the size of the edge computing market.
As there has been a rise in the use of the internet in recent times, several players have generated much software that enhanced the growth of the edge computing market. Some of the applications were even built to assist in the health care centers. The process enables everyone to speak out about their health problems, and the physicians will reach the patients by accessing the data from the software. Even during the peak of the pandemic across the globe, the process helped the health care workers recognize the coronavirus patients’ data and treat them thoroughly. Because of the lockdowns and implementation of social distancing norms, the use of edge computing has been elevated at a noteworthy rate. Even by using AI edge computing, several nations across the globe, such as China, have deployed robots and drones across the health care sectors.
Segmentation of Market Covered in the Research:
The global market for edge computing has been fragmented into various segments based on enterprise size, components, end-users, and region.
The global market for edge computing is split into service, software, and hardware based on components. The software segment is further divided into on-premises and cloud. The service segment is again classified into managed services and professional services.
The global market for edge computing is divided into large enterprises and SMEs based on the enterprise size.
Based on end-users, the global edge computing market is bifurcated into hospitality, utilities, retail, government, manufacturing, transportation, education, energy, IT & telecommunication, semiconductor, BFSI, healthcare, and others.
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Competitive Analysis
The edge computing market appears highly competitive and fragmented, owing to the presence of many matured players accounting for a substantial market share. These players try to gain a bigger market share through acquisitions, strategic partnerships, expansions, product/technology launches, and collaborations.
Heavy R&D investments are made in developing completely different technologies than their competition. Technology enablers develop Streaming Data Platforms (SDPs) and reference architecture designed to improve edge computing in manufacturing environments to help organizations store and process data generated by edge devices with the addition of real-time analytics.
For instance, on Sep. 14, 2022, IBM and Bharti Airtel (India) announced their partnership to deploy Airtel’s edge computing platform enabling large enterprises in the manufacturing and automotive industries to accelerate innovative solutions. The Airtel-IBM platform is expected to boost quality control and ensure their data remains protected at the edge. Maruti Suzuki, a leading passenger car maker in India, intends to use the edge platform to increase accuracy and efficiency for quality inspections on the factory floor.
Players leading the edge computing market include Advanced Micro Devices Inc, Yokogawa Electric Corporation, ABB Ltd., Rittal GmbH & Co. KG., ZenLayer Inc., The Hewlett Packard Enterprise Company, Fujitsu Ltd., Siemens AG, Integrated Device Technology Inc., EdgeConnex Inc., eInfochips, Huawei Technologies Co. Ltd., ADLINK Technology Inc., IBM Corporation, Alphabet Inc., Schneider Electric SE, SAP SE, Microsoft Corporation, Intel Corporation, and Amazon Inc.
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Regional Analysis
The global edge computing market is studied across five major regions: North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa.
As per the MRFR analysis reports, the Asia-Pacific region will hold the top position in the global edge computing market over the assessment timeframe. The regional market’s growth is primarily attributed to the increase in the population across the region. The regional market has experienced the rapid implementation of new technologies, which is likely to fuel the regional market’s growth over the coming years. Furthermore, the gradual increase in IT spending by organizations across the region is another major aspect projected to propel the market’s growth. The region is home to several major market players such as NTT Docomo, Vodafone, Optus, Telstra, China Telecom, Huawei, and others, which in turn is anticipated to influence the market’s performance positively over the forecasted era. On the other hand, due to the lack of awareness among various small and medium-sized companies, the region has a low adoption rate of edge computing compared to Europe and North America.
The edge computing market for the North American region is likely to secure the second position across the globe over the forecasted era.
The European regional market for edge computing is projected to register a substantial growth rate over the forecasted timeframe.
APAC is a base for various global telecommunications and edge network companies, including Vodafone, which acts as a growth factor for the edge computing market.
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About Market Research Future (MRFR):
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and also about what action to take based on these aspects.
