Edge computing is a framework with distributed computing designed to bring enterprise applications closer to data sources. Industries such as telecommunications and automotives are projected to witness increased operational responsiveness from edge computing of around 94% and 96%, respectively, in the coming five years. Furthermore, enormous data generation due to digitization, connected devices, etc., generate several opportunities for the edge computing market.
The global edge computing market was valued at USD 4.7 billion in 2020 and will grow at a CAGR of 36.7% by 2027.
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The way data is handled, processed, and delivered has changed, and edge computing is driving the change. Edge computing has the potential to accommodate all the digital needs of an organization. However, according to industry experts, investors and end-users are focusing on short-term goals rather than long-term investments due to the unprecedented future of edge computing.
One of the key drivers for edge computing has been the large-scale deployment of 5G, which will assist edge computing. Further, mobile edge computing (MEC) is one of the pivotal factors supporting the 5G networks. In order to integrate computing, storage, and networking with the base stations, the mobile operators are working on mobile edge computing. 5G is an inevitable next-generation technology that will be adopted by all the operators, providing them an opportunity to collaborate with other sectors such as retail, finance, transport, etc., to deliver services beyond connectivity.
At present, North America is the largest regional market for edge computing, driven by colossal cloud adoption and connected devices. In addition, the development of breakthrough technologies such as driverless cars and connected vehicles supports the growth of edge computing across North America. Connected vehicles are evolving exponentially and generating a large volume of data. Thus, in order to manage this data, the automobile manufacturers are focusing on leveraging edge computing. The global players across the automobile value chain have formed the Automotive Edge Computing Consortium (AECC), intending to drive the evolution of edge computing to support the high volumes of data.
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Globally, subscriptions for online streaming are growing, with almost 74% of U.S. households subscribing to at least one streaming service. An average user subscribes to 3.4 of them. Latency is one of the primary challenges for streaming services that can be resolved using edge computing to improve network performance by caching content closer to the subscribers using edge data centers. Companies across the edge computing market space are developing solutions and adopting business strategies to accommodate the rising business needs of end-users.
Equinix, Inc. will open a first-of-its-kind, fully functional 5G and Edge Technology Development Center at the Equinix DA11 International Business ExchangeTM (IBX®) data centre in Dallas in September 2021.The development centre includes a fully operational, non-standalone 5G network from Nokia to test and validate 5G services and use cases.
The report provides granular information on various market segments;
Straits Research’s latest edition of the global edge computing market report is a comprehensive study analysing key industry trends, use case analysis, market estimates and forecasts, investment scenarios, and competitor matrix.
To help industry stakeholders understand the prevailing market trends and issues, identify opportunities, highlight key growth strategies and what’s next in the coming seven years, we have curated our table of contents with precise details.
How has COVID-19 influenced the technology sector across various industries? What impact has shifted to technology deployment? Was there a direct link between COVID’s impact on the edge computing industry?
Our report will seek to answer these questions and more, which are vital to staying updated and ready for strategic decision-making.
A dedicated section on understanding the growth opportunities, i.e., the development and deployment of 5G, innovations concerning micro-operating systems, and the emergence of autonomous and connected vehicles, is covered in the final report.
The report also covers the personnel verbatim to gauge the industry understanding of the subject matter experts, market innovators, investors, end-users, and other industry stakeholders.
Edge computing market analysis is covered with an exhaustive coverage on revenue analysis by different segments, expected CAGR, historic numbers, and country-level market data.
Our analysts at Straits Research are deployed in different markets based on their experience, skillset, and educational background relevant to the market. The team is proficient in conducting primary research, collecting information from secondary sources, purchased databases, and generating actionable insights to help our clients across the geographies and verticals. The team is studded with analysts from chemical and electrical engineering, business administration, biotechnology, and ICT background.