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 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.
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
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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.)
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.
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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• System Security
• Edge Computing devices
• Edge Computing certification providers
• Edge Computing lifecycle service providers
• Product manufacturers
• Research organizations
• Edge computing manufacturers
• Technology investors
• Technology standards organizations
• Consultancy firms
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