On-premise to Witness Highest Demand in Global Edge Computing Market Growing at CAGR 46% through 2022
Growing IoT (Internet of Things) market
coupled with the increasing demand for lower latency and higher bandwidth is
expected to drive global edge computing market through 2022
According
to a recently released report from TechSci Research & Consulting firm, “Global Edge Computing Market By Deployment, By Application, By Component, By End-User,
By Region, Competition Forecast & Opportunities, 2015-2022”,
the edge computing market is projected to grow at a CAGR of over 46 % during
the forecast period. The growth of global edge computing market is backed by
growing adoption of video surveillance in developing countries along with the
advent of 5G technology that would increase the data throughput substantially,
thereby requiring edge computing for efficient management of data.
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On the basis of deployment global edge computing
market is segmented into on-premise and cloud- based. On-premise segment is anticipated
to exhibit the highest CAGR due to reduced number of data hops offered by it,
which lowers the chances of error. By Application, IoT held the major
share on the back of growing adoption of edge computing solution in smart
manufacturing and other IoT applications such as smart grids, smart lighting,
smart consumer wearable etc. Among end-users, manufacturing
sector dominated the global edge computing market on account of integration of
edge technology into the conventional method of manufacturing as edge computing
enhances the process speed and makes it independent of cloud. A large demand
for edge computing emanates from North America. The region is projected to lead
the regional market share, owing to the numerous start-ups working on edge
computing solutions and increasing IoT market in the region. However,
Asia-Pacific is expected to be the fastest growing region in global edge
computing market during the forecast period.
“With the increasing adoption of augmented
reality (AR) and virtual reality (VR) in retail and gaming domain, global edge
computing market is expected to witness a robust growth in the coming years, as
AR technology requires high computing power and low latency. Moreover, growing
number of connected devices such as smartphones, tablets, etc., is further
anticipated to push the demand for edge computing for efficient management and
storage of data.” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
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“Global Edge Computing Market By Deployment, By Application, By Component, By
End-User, By Region, Competition Forecast & Opportunities, 2015-2022” has evaluated the future growth potential
of the edge computing market and has also provided the statistics and
information on market structure, size, share and future growth of edge
computing market. The report intends to provide cutting-edge market intelligence
and help decision makers to take sound investment decisions. Besides, the
report also identifies and analyses the emerging trends along with essential
drivers, challenges and opportunities existing in the global edge computing market.
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