Global Edge Computing Market Research Report 2021: Edge AI - Next Frontier of Digital Transformation - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 3, 2021--
The “Edge Computing - Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Global market for Edge Computing estimated at US$4 Billion in the year 2020, is projected to reach a revised size of US$17.8 Billion by 2026, growing at a CAGR of 27% over the analysis period.
Edge computing is rapidly emerging as a technology innovation that can be widely adopted across industries. Edge meets local computing requirements as data is processed in micro-data centers. Applications that are process-intensive, involving advanced technologies like AI, ML and IoT, continue to witness rapid development.
These applications consume huge loads of data for performing large scale algorithms, creating a strong demand growth scenario for localized data storage and computer network resources. IoT, IIoT and increased adoption of technologies like AI and ML are thus supporting strong growth of edge computing. The growing number of smart city initiatives in countries across the world is also promoting growth for edge computing.
These initiatives are leading to increase in edge computing implementation by telecom companies, responsible for the deployment of the necessary networks. 5G cellular technologies, delivering massive bandwidths along with supporting a wide array of devices including smartphones, autonomous vehicles as well as large scale IoT, represents another prominent growth promoting factor for the market.
Growing emphasis on process automation and cost reduction combined with intensifying business competition is also anticipated to drive market growth. Increased adoption of edge computing for data center application would also lead to market growth.
Hardware, one of the segments analyzed in the report, is projected to grow at a 26.2% CAGR to reach US$10.4 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Platform segment is readjusted to a revised 28.3% CAGR for the next 7-year period.
This segment currently accounts for a 19.8% share of the global Edge Computing market. Technologies, such as MEC, EDC, and AMR are increasingly employing routers, sensors, gateways, and edge nodes, which is propelling the requirement for hardware components in edge computing. The hardware segment is also expected to grow at a substantial pace over the next decade, attributed to large-scale deployment of hardware components in edge computing services.
By Application, Smart Cities Segment to Reach $7.1 Billion by 2026
Edge computing is one of the vibrant elements behind the emergence of smart cities owing to its ability to enable plethora of new applications and support next-generation smart city solutions.
The technology is anticipated to be extensively used by city governors and urban planners for leveraging emerging data-driven technology to find real solutions for pressing challenges. In the recent years, an increasing number of smart cities have started investing in edge computing to avoid reliance on the cloud for data processing and analytics. In the global Smart Cities (Application) segment, USA, Canada, Japan, China and Europe will drive the 28.4% CAGR estimated for this segment.
These regional markets, accounting for a combined market size of US$1.2 Billion in the year 2020, will reach a projected size of US$6.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$619.4 Million by the year 2026.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- The Age of Digitalization, Now Catalyzed by the Pandemic, Provides the Foundation for the Rise of Edge Computing
- The Race Between the Virus & Vaccines Intensifies. Amidst this Chaotic Battle, Where is the World Economy Headed in 2021?
- These are Times When Questions Abound & Answers Are Few
- So How Fast Or Slow Are We Moving?
- Split Scenarios Unfold: The Great Vaccine Divide Emerges
- Progress on Vaccinations, Why Should Businesses Care?
- Edge Computing: Overview, Importance, & Benefits
- Here’s What to Expect in the Edge Computing Market
- Recent Market Activity
- World Brands
2. FOCUS ON SELECT PLAYERS (Total 256 Featured)
- ABB Ltd.
- ADLINK Technology Inc.
- Altran Technologies, SA
- Amazon Web Services (AWS), Inc.
- Atos SE
- Azion Technologies Ltd.
- Belden Inc.
- Cisco Systems, Inc.
- ClearBlade, Inc.
- Dell Inc.
- Digi International Inc.
- Edge Intelligence Software, Inc.
- EdgeConneX, Inc.
- Edgeworx, Inc.
- Foghorn Systems
- General Electric Company
- Google LLC
- Hewlett Packard Enterprise Development LP
- Huawei Technologies Co., Ltd.
- International Business Machines Corporation
- Intel Corporation
- Juniper Networks Inc.
- Litmus Automation Inc.
- Microsoft Corporation
- Moxa Inc.
- Nokia Corporation
- Rockwell Automation Inc.
- Saguna Networks Ltd.
- SAP SE
- Siemens AG
- Sierra Wireless, Inc.
- SixSq Sarl
3. MARKET TRENDS & DRIVERS
- COVID-19-Induced Work From Home (WFH) Pushes Businesses Closer to Edge Computing
- Edge Computing Enabled Smart Cities Become the New Reality
- COVID-19 Highlights the Value of Smart Cities During Times of Crisis
- Why Edge Computing is Crucial for Smart Cities?
- Edge Computing & 5G: A Perfect Pair: Here’s Why
- A Growing Market for Smart Agriculture to Boost Adoption of Edge Computing
- Smart Agriculture Becomes a US$12 Billion Global Market
- Edge Computing’s Role in Smart Agriculture Demystified
- Digital Transformation Spending in Transportation & Logistics to Spur Adoption of Edge Computing
- Smart Retail Evolution Heavily Dependent Upon Edge Computing
- The Strengthening Relationship Between Edge Computing and Mobility, Gives Rise to the Massively Popular Mobile Edge Computing
- Mobile Edge-Powered Computing Offers Intriguing Advantages for Location-Based Applications
- Manufacturing & IIoT Emerge As Important End-Users of Edge Computing
- Rise in IoT Ecosystem, the Cornerstone for Future Growth
- Manufacturing Automation Catches Fire
- Why Edge Computing is a Necessity in Age of Manufacturing Automation & Industrial IoT (IIoT)
- The Age of Analytics Pushes Up the Need for Mobile Edge Computing
- As Remote Monitoring & Control Rises in Prominence, Its Time to Take This Capability to the Edge
- Expanding Applications of Edge Computing in AR Wearables to Benefit Market Growth
- Edge Computing in Healthcare, the Only Way to Unlock the Benefits of Value-based Care
- Accelerating Pace of Connected Care Adoption Drives Opportunities for Edge Computing
- Edge AI - Next Frontier of Digital Transformation
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/1yrrqz
View source version on businesswire.com:https://www.businesswire.com/news/home/20211103005966/en/
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SOURCE: Research and Markets
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PUB: 11/03/2021 12:47 PM/DISC: 11/03/2021 12:47 PM