Market Research Future Insights:
The Edge Computing market is projected to grow from USD 36.35 Billion in 2022 to USD 168.6 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 24.51% during the forecast period (2022 - 2030).
Edge computing is a technique for improving cloud computing systems by processing data at the edge of the network, near the source of the data. The key beneficial aliment of edge computing is that it diminishes the time for the operation to milliseconds and lowers the load on the network. Transmission of large amounts of loads generates tremendous load on the network. Therefore, edge computing processes all data at the edge of its source and analyze the data, and send only valuable information on it, rather than frequently broadcasting data over the network. For example, a smart thermostat transmits data only when the temperature increases or falls from acceptable limits.
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Key Players:
Key Companies in the Edge Computing market includes,
- General Electric Company
- Amazon Inc.
- Intel Corporation
- Microsoft Corporation
- SAP SE
- Schneider Electric SE
The edge server is projected to be the booming hardware segment. The development of autonomous vehicles to get information like the weather, light, and road condition, get navigation, control, and even automatically drive has boosted the Edge Computing Market Share. The augmented demand for edge servers throughout various industrial verticals accounts for the segment's promising growth prospects.
The Global Edge Computing Market report provides an integrated evaluation of the market. The report provides a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a significant role in the market.
Regional Analysis:
The Global Edge Computing Market is divided into five regions; North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
Asia Pacific counted for a significant revenue share due to an augmenting focus on strengthening networking technology in the region. The progression of Telco edge infrastructure to support 5G-enabled applications is estimated to be accelerated by the launch of 5G networks. IT investment in the zone is steadily increasing, which is projected to contribute to an upsurge in the usage of edge computing.
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North America esteemed the largest revenue share of the Edge Computing Market. Multiple companies have also emerged to supply infrastructure for building edge-enabled solutions, which are anticipated to drive market growth in the region.
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