Zion Market Research forecasts the global market for edge computing will reach USD 15.81 billion by 2025 from USD 3.02 billion in 2019, with a CAGR of almost 26.80%. Factors such as increasing acceptance of IoT (Internet of Things) all over sectors; a requirement for overcoming exponentially rising network traffic and data volumes; and increasing requirement for automated, real-time decision-making solutions and low-latency processing are adding to the development of the market growth.
Altran, Cisco, Huawei, HPE, Dell Technologies, IBM, Litmus Automation, Nokia, SixSq, FogHorn Systems, Saguna Networks, MachineShop, ADLINK, Vapor IO, and Axellio are some of the major players in the global market. In addition to this, the surfacing of connected car infrastructure and autonomous vehicles, and the requirement for lightweight systems and frameworks to improve the competence of edge computing solutions are predicted to generate ample growth avenues for edge computing makers.
Hardware Category To Have The Biggest Share During The Forecast Period In The Global Edge Computing Market
The market for edge computing by component includes platform, hardware, and services. The hardware category is predicted to have the biggest market size in the years to come, due to the huge-scale deployment of hardware elements for computing operations and decentralizing storage, reducing network traffic and allowing comprehensive deployment of edge infrastructure. Agencies provide enhanced edge computing parts that either acts as a starting point of data source or a catalyst of the complete network; or acts as a local processing or storage unit in the general edge computing process.
North America To Add Up For The Biggest Share During The Forecast Period In The Global Edge Computing Market
The global market for edge computing by region includes 5 major regions such as Asia Pacific, North America, Middle East and Africa, Europe, and Latin America. North America is predicted to add up for the biggest size of the market in the years to come, due to the attendance of huge number of edge computing merchants and rising tech acceptance amongst enterprises in North America for using new techs, such as 5G and IoT.
This review is based on a report by Zion Market Research, titled “Edge Computing Market by Application (IIoT, Smart Cities, Remote Monitoring, Content Delivery, AR and VR), Component (Platform, Hardware, and Services), Organization Size (Large Enterprises, SMEs), Vertical, and Region – Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 – 2025”