Rapid technological advancements across multiple industries is necessitating the need for rapid data transmission and assimilation to arrive at timely conclusions. Furthermore, there is a need to streamline workflows, all of which are expected to contribute majorly to the growth of edge computing, remarks a Fact.MR analyst.
Dublin, Ireland, Aug. 17, 2022 (GLOBE NEWSWIRE) — A recently published report by Fact.MR reveals that the demand for edge computing is projected to expand at a CAGR of 30% in terms of value during the period of assessment. Moreover, the report estimates that the market for edge computing is likely to surpass US$ 69 Bn by end of 2032.
Edge computing products facilitate enhanced processing power and data transmission between connected devices. The shift in consumer preference for smart devices over conventional vehicles, and homes drives the demand for edge computing components such as services, software, and edge-managed platforms. Industrial automation trends that employ artificial intelligence (AI), and machine learning (ML) to curb costs and increase production capacities also contribute to growth.
The COVID-19 pandemic has boosted field service solution adoption across industry verticals as the users move to leverage field service solutions advantages, such as expansions and less cost. Despite the global economic slowdown, around 50% of subscription companies are expanding at a similar pace without any negative influence due to the COVID-19 pandemic.
For More Insights on this Market, Get A Sample Report!
Key Takeaways from the Market Study
- Global market for edge computing to reach US$ 5 Bn by 2022-end
- North America leads global sales with 46% share of the total market value.
- South Asia & Oceania offers the most lucrative opportunities with the highest double-digit growth rate of 32% during the forecast period.
- Energy & utilities account for the largest share of the market value. The 18% share can be accredited to cost efficiency and enhanced control over energy grids offered by edge computing products.
- Data centers are the most financially rewarding application segment with a meteoric 32.5% CAGR through 2032.
- Hardware is the most selling component segment with more than 46% share of the total market revenue.
The competitive landscape of the edge computing market is shaped by product innovation and strategic mergers & acquisitions. Cisco Systems, Inc., Microsoft Corporation, Amazon Web Services (AWS), Inc., Moxa Inc., NVIDIA Corporation, and Belden Inc. are some prominent manufacturers of edge computing.
- In January 2022, Amazon Web Services (AWS) announced the general availability of its new Amazon Elastic Compute Cloud (Amazon EC2) Hpc6a instances. These “purpose-built” EC2 instances leverage 3rd Gen AMD EPYC CPUs to process high-performance computing (HPC) workloads at what Amazon claims.
- In November 2021, Kyndryl announced a landmark global strategic partnership that will combine its market-leading capabilities in the service of enterprise customers. The deal with Microsoft is Kyndryl’s first since recently becoming an independent public company and provides incremental multi-billion dollar revenue opportunities for the two companies.
To Gain In-Depth Insights on Edge Computing Market, Request Methodology at https://www.factmr.com/connectus/sample?flag=RM&rep_id=4761
Key Market Segments in Edge Computing Industry Research
- By Component
- Edge Computing Hardware
- Edge Nodes/Gateways (Servers)
- Edge Computing Software
- Edge Computing Services
- Edge-Managed Platform
- Edge Computing Hardware
- By Application
- Edge Computing for Energy & Utilities
- Edge Computing for Industrial Applications
- Edge Computing for Transportation & Logistics
- Edge Computing for Smart Cities, Smart Homes, Smart Buildings
- Edge Computing for Healthcare
- Edge Computing for Agriculture
- Edge Computing for Retail
- Edge Computing for Datacenters
- Edge Computing for Other Applications
- In June 2021, Cisco announced its new portfolio of catalyst industrial routers to extend the capability of enterprise network to the edge with flexibility, scalability, and security with embedded 5G technology.
- In April 2021, Verizon and AWS launched its private mobile 5G edge computing to enterprises in the US through Verizon private 5G network and AWS outposts.
- In March 2021, The company announced the launch of next-generation data center and power supply solutions at the Digitally Transforming Energy Infrastructure online event. Data center solutions are for small and edge computing scenarios including FusionModule2000, FusionModule800, and FusionModule500 for different industry purpose.
- In March 2021, Nokia launched of edge automation solution to remove the complexity of managing multiple cloud data center by automating it through a unified platform.
Interested to Procure The Data? Inquire here https://www.factmr.com/connectus/sample?flag=EB&rep_id=4761
More Valuable Insights
In its latest report, Fact.MR offers an unbiased analysis of the market providing historical data for the period of 2017-2021 and forecast statistics for the period of 2022-2032.
The study divulges essential insights on the market on the basis of component (hardware (sensors/routers, edge nodes/gateways, and others), software, services, and edge-managed platform), applications (energy & utilities, industrial, transportation & logistics, smart cities/smart homes/smart buildings, healthcare, agriculture, retail, data centers and others), and across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East & Africa).
Explore Fact.MR’s Coverage on the Technology Domain-
Low Code Development Market – The global sales of low code development are expected to reach US$ 14 Bn in 2022. As per the study, the industry is slated to reach a valuation of US$ 187 Bn by 2032, reflecting a positive CAGR of 29.5% throughout the assessment period.
5G Services Market – According to Fact.MR- a market research and competitive intelligence providers, demand for 5G services experienced a substantial incline from 2015 to 2021, registering a CAGR of 28%. Extensive deployment of advanced communication and technology infrastructure has greatly elevated growth prospects of the market.
Digital Remittance Market – The digital remittance market has garnered a market value of US$ 18.16 Bn in 2022, anticipated to register a positive CAGR of 13.5% in the forecast period 2022-2032 and reach a value of US$ 64.43 Bn.
Digital Transaction Management Market – The global digital transaction management market revenue was estimated to be US$ 8.01 Bn in 2021 and is expected to increase at a CAGR of 25% from 2022-2032. It is estimated that the market will reach US$ 93.25 Bn by the end of 2032.
Customer Relationship Management Market – Increasing demand for automated engagement with customers and providing a seamless customer experience and services are projected to play a salient role in strengthening the market development in the coming time. Departments such as; sales and marketing and customer services are increasingly integrating CRM systems to enhance customer experience.
Digital Therapeutics Market – Digital Therapeutics was valued at US$ 4.25 Bn in 2021, and is expected to increase by 24% Y-o-Y to US$ 5.27 Bn by the end of 2022. The industry is expected to grow at a CAGR of 26.5% from 2022 to 2032, reaching US$ 56.41 Bn.
Cloud Computing Market – The global cloud computing market size is estimated to secure a market value of US$ 482 Bn in 2022. The market is expected to procure US$ 1,949 Bn by 2032 while expanding at a CAGR of 15% during the forecast period from 2022 to 2032.
Digital Marketing Software Market – The global digital marketing software market is expected to value US$ 65 Bn in 2022 which is likely to reach US$ 370 Bn by 2032. The projected growth rate is 19% from 2022 to 2032. The expansion of the market can be attributed to the increasing preference for mobile phones to gain information on the go.
Smart Pole Market – The global smart pole market was valued at US$ 8 Bn in 2021, and is expected to increase at a whopping CAGR of 21% during the 2022-2032 forecast period. This industry is projected to reach a market size worth US$ 65.12 Bn by 2032.
Mobile Payment Market – Demand for mobile payments is likely to garner a market value of US$ 42 Bn in 2022 and is expected to register a staggering double digit CAGR of 30% by accumulating a market value of US$ 590 Bn through the assessment period 2022-2032
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
US Sales Office:
11140 Rockville Pike
Rockville, MD 20852
Tel: +1 (628) 251-158
- Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Centessa Pharmaceuticals plc (CNTA) - September 30, 2022
- ROSEN, A LEADING LAW FIRM, Encourages Warner Bros. Discovery, Inc. and Discovery, Inc. Investors with Losses to Secure Counsel Before Important Deadline in Securities Class Action – WBD, DISCA, DISCB, DISCK - September 30, 2022
- Treasury Guarantees $355 Million in Bond Funding for Projects in Low-Income Communities - September 30, 2022