Edge computing exists very close to the sources of data which it overlooks and manages information from. As it is capable of gathering information in close proximity of data sources, it also effectively deploys analytics. Edge computing is effectively positioned for the wave of IIoT that has been growing worldwide. Due to this factor, there is a high rate of adoption and application of the sector. Increase in the availability of devices like smartphones, smart watches and digital wearable technology have further propelled the growth of this market. Industries like healthcare, entertainment etc. have been some of the demand generating sectors for this industry.
The success of cloud services such as SaaS, PaaS, and IaaS and the proliferation of IoT have pushed the new computing paradigm towards edge computing. Edge computing refers to the computing infrastructure which exist closer to the data sources. Edge computing can address the concern of response time requirement, battery life issues, and cost saving bandwidth occurred with cloud computing. Moreover, it also reduces the energy consumption by 30-40%. Therefore, with proliferation of IoT devices, the data generation has increased which thereby need to store on public cloud making it anytime accessible. However, this huge data storage has reduced the response time of cloud which thereby requires technology like Edge computing which will take care of the local data storage and would increase the network response time.
With increasing data traffic on cloud, the industrial applications are in search of an alternative to cloud data storage to increase data security, and to reduce any kind of bottleneck in any kind of transaction. Edge computing provides physical location for computing closer to the data source. Edge computing can be deployed by two methods namely on-premise and on-cloud. On-premise deployment method is dominating the market with more than 40% of market share by deployment Whereas, on-cloud deployment method is expected to grow with fastest CAGR during forecast period 2017-2023
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.
Major Key Players:
• 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.)
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Latest Industry News:
Jan 2018 Max2, a Smart platform company with a focus on Smart applications, has unveiled a groundbreaking IoT Edge Server marking the technology company's entry into a category predicted to grow rapidly by the end of this decade. This tech called VeeaHub, provides edge computing and communications as a direct extension of retailers' data center or cloud services. It also offers a unique software architecture that enables retailers to run their applications dynamically and most efficiently at the edge in retail locations, in the private data center or the Cloud, or both.
Jan 2018 Deutsche Telekom has set up a new edge computing business and appointed former Ericsson cloud technology executive Jason Hoffmann as its CEO. The business is called MobiledgeX and is intended to further explore the opportunities of edge computing.
Jan 2018 Commsignia announced that its new V2X Connectivity and Edge Computing Platform is supporting key Live Autonomous Vehicle and Road Safety deployments. The ITS-RS4 Smart City distributed intelligence roadside unit and its onboard vehicle counterpart, the ITS-OB4 DSRC/Cellular V2X connectivity platform enable sensor data sharing among autonomous vehicles and smart city infrastructure with first deployments. Applications and services in the ITS-RS4 utilize the dynamic model to enhance road-safety generating real-time alerts to drivers, connected autonomous vehicles and pedestrians, whilst escalating events and aggregated data for analytics to traffic management centers.
Dec 2017 Stratus Technologies, a global leader in continuous availability solutions for mission-critical applications, unveiled its edge computing product strategy and direction recently. This strategy includes the latest version of Stratus’ flagship product, ftServer, along with a preview of a converged edge system, which offers enhanced remote management services in a rugged and easy-to-deploy form factor. The ideal users for this offering originate in industrial automation (IA) or in distributed enterprises deploying Industrial Internet of Things (IIoT) applications.
Amazon is significantly focusing on Edge Computing and the IoT as a part of Amazon’s existing Snowball data transfer service and features the serverless computing power of new Greengrass technology. While, in a bid to solidify its position at the center of the industrial IoT (IIoT), GE Digital is looking to edge computing. By adding features to its Predix platform as a service (PaaS) to let industrial enterprises run predictive analytics at the network edge, as close as possible to data sources.
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.
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Market Research Future Analysis:
Edge computing is an emerging solution for data storage and data retrieving from cloud. Its concept is designed to the address the challenge of data centric workload on cloud, faced by enterprises. Edge computing enables IT to retain sensitive data of enterprise on-premise while taking advantage of the cloud technology. Edge computing enables each device on the network to perform its operation on its own and process the information. This is achieved by connecting sensors to such as programmable automation controllers to handle processing and communication.
By components, the market has been segmented as hardware and software where hardware segment has emerged as largest market accounting more than 55% of total market in the year 2016, whereas software segment is expected to grow with fastest CAGR during the forecast period.
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