According to a new report, published by KBV research, The Global Edge Computing Market size is expected to reach $111.4 billion by 2028, rising at a market growth of 16.8% CAGR during the forecast period.
The Large Enterprises market is leading the Global Edge Computing Market by Organization Size in 2021; thereby, achieving a market value of $73.5 billion by 2028. The adoption of edge computing solutions in large enterprises is higher than in SMEs because they have sufficient budgets. The reason for this is that large organizations adopt emerging technologies, like ML and AI with edge computing software, in order to increase overall productivity and capture a larger market share.
The Industrial Internet of Things (IIoT) market is expected to witness a CAGR of 17.1% during (2022 - 2028). In order for manufacturers to achieve the aim of digitizing their facilities, edge computing has been crucial. In the manufacturing sector, edge computing has a sizable installed base in the form of device edge. A framework for factory modernization in light of industry disruptions is also created by the Industry 4.0 effort, clearing the way for edge deployment.
The Hardware market shows high market share in the Global Edge Computing Market by Component in 2021; thereby, achieving a market value of $51.3 billion by 2028. As the number of IoT and IIoT devices grows quickly, so does the amount of data created. To handle this, edge computing gear is used to lessen the load on the cloud and data centres. The hardware for edge computing needs to be reliable, small, and equipped with enough power, connectivity, and storage.
The Manufacturing market is generating high revenue in the Global Edge Computing Market by Vertical in 2021; thereby, achieving a market value of $29.3 billion by 2028. Predictive analytics is made possible by edge computing's targeted processing, which reduces latency difficulties and enables smart & intelligent manufacturing. In order to improve IoT device interoperability, decrease unplanned downtime difficulties, and boost production effectiveness, manufacturing businesses have started using edge computing more frequently.
The North America market dominated the Global Edge Computing Market by Region in 2021; thereby, achieving a market value of $38.9 billion by 2028. The Asia Pacific market is poised to grow at a CAGR of 17.6% during (2022 - 2028). Additionally, The Europe market would witness a CAGR of 15.8% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/edge-computing-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Johnson Controls International PLC, Lumen Technologies, Inc., Comcast Corporation, Charter Communications, Inc., Telus International (Telus Communications Inc.), Vivint Smart Home, Inc., ADT, Inc. (Apollo Global Management, Inc.), Trane Technologies PLC, Rexel Group, and Calix, Inc.
By Organization Size
By Application
By Component
By Vertical
By Geography
Companies Profiled
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