The global edge computing market is gaining from the challenges arising from the overuse of traditional centralized cloud computing architecture. Edge computing is a means of utilizing cloud computing by scrutinizing and processing the data at the periphery of the network, in close proximity to the source where it is created. Mobile computing, decreasing cost of computer components, and the large number of networked devices involved in Internet of Things (IoT) architecture are some of the key factors that are pushing the adoption of edge computing architecture.
Edge computing deployments are ideally suited in a number of situations. One is when IoT devices have insufficient connectivity and it is not feasible for IoT devices to be seamlessly connected to a central cloud. High latency, low spectral efficiency, and non-adaptive machine type of communication are some of the serious challenges of cloud computing framework that is leading to a shift to computing to the edge devices of the network.
Edge computing offers economic benefits for organizations. This is because carrying out computing closer to the edge of the network helps organizations analyze crucial data in real-time. Edge computing is useful for organizations across many industries such as manufacturing, telecommunications, healthcare, and finance among others.
A report by Transparency Market Research (TMR) estimates the global edge computing market will be evaluated at US$8,024.5 mn in 2017 and further reach US$13,313.7 mn by the end of 2022 clocking a 10.7% CAGR therein.
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Among the key segments based on component, hardware is the leading segment that is anticipated to represent 54.3% of the market in 2017. Progressing at a CAGR of 10% over the forecast period, the global edge computing market is likely to represent 52.8% of the global edge computing market.
From a geographical standpoint, North America is estimated to dominate the global edge computing market vis-à-vis revenue in 2017, and the trend is anticipated to continue over the forecast period.
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Japan is a key market for edge computing. Expanding at an outstanding 16.4% CAGR between 2017 and 2022, the market’s valuation is likely to touch US$1,763.5 mn by 2022 end.
The global market for edge computing is fairly consolidated with key shares held by a few well-entrenched players. Some of the leading players in the global edge computing market are Microsoft Corporation, IBM Corporation, Cisco Systems Inc., Google Inc., Hewlett Packard Enterprise Company, Intel Corp, Schneider Electric SE, Nokia Corporation, Huawei Technologies Co. Ltd., and Aricent Inc.