Edge Computing Market to Reach Valuation of USD 49.6 Billion By 2028 – Rising Start-ups Have Also Developed to Provide Platforms for Developing Edge-Enabled Solutions Drives the Market

In terms of revenue, the Global Edge Computing Market is expected to reach USD 49.6 Billion by 2028, growing at a CAGR (Compound Annual Growth Rate) of 37.90% from 2022 to 2028.

Edge Computing helps industries improve their productivity by applying current cost-cutting strategies. The Edge Computing Market is expected to increase due to decreasing computation mediums and hardware components costs. Furthermore, Edge Computing plays a crucial role in organizations worldwide, with a significant rise in the number of work-from-home jobs due to the outbreak of coronavirus disease (COVID-19).

One of the main pillars of economic progress has been advancements in communication technologies. The primary foundation of the many operations being digitalized daily across sectors is modern communications networks. The Edge Computing Market's expansion is also driven by a shift in consumer preference for high-performance smartphone apps.

Key Highlights from Report

· The telecom edge will execute computing proximity to the telco's mini-data centers, which will be located on telco-owned land. Various telecom operators, including Telefonica and Telstra, are testing open-access networks with Edge Computing in pilot programs and prototypes. Moreover, Edge Computing benefits the telecom sector exclusively, yet telecom businesses risk being reduced to irrelevant edge providers.

· Hardware is the most popular application mode. This is due to the growing popularity of cloud-based services, in which the server plays a crucial role as an invisible computational backbone for services that consumers rely on. As this technology becomes more widely adopted, demand for various types of servers is expected to drive the market forward. Furthermore, there is an increasing demand for hardware products in the market.

· The Asia PacificEdge Computing Market grew rapidly. Startups and significant market players declare developed countries like the United States home. Consumer disposable income is rising, and Edge Computing-based products such as electric automobiles, fitness trackers, and smart home gadgets are becoming more popular. Similarly, in the coming years, the growth of the Edge Computing Market is foretold to show a significant increase in the use of dietary products, such as in North America and Europe.

Market Dynamics

Edge Computing use cases have outpaced initial infrastructure deployments, and new Edge Computing use cases and infrastructure investments are expected to grow over the upcoming years. The growth of industrial IoT and increased pressure on cloud infrastructure are driving the expansion of the Edge Computing Market during the forecast period. Besides, high procurement and operational cost are expected to challenge the market growth during the forecast period. In addition, the Edge Computing Market is expected to increase due to decreasing computation mediums and hardware components costs.

Furthermore, the introduction of the 5G network and multiple frameworks and languages for IoT applications are expected to provide significant growth opportunities in the upcoming years. Edge Computing supports real-time applications in monitoring and processing acquired data, another important factor driving market demand. However, the expansion of the Edge Computing Market is likely to be hampered by more local hardware and higher maintenance costs.

North America accounted for the largest revenue in the market in 2021. Several startups have also developed to provide platforms for developing edge-enabled solutions, which are anticipated to fuel the regional market. Several startups have also developed to provide platforms for developing edge-enabled solutions, which are anticipated to fuel the regional market. Similarly, the growth of the Edge Computing Market is expected to exhibit a considerable increase in healthcare services in the next years.

The Global Edge Computing Market is Segmented as follows

• Components
  • Hardware
  • Software
  • Services
• Applications
  • Smart Cities
  • Industrial Internet of Things (IIoT)
  • Remote Monitoring
  • Content Delivery
  • Augmented Reality (AR) & Virtual Reality (VR)
  • Others (Autonomous Vehicles, Drones, & Gaming)
• Organization Size
  • Large Enterprises
  • SMEs
• Verticals
  • Manufacturing
  • Energy & Utilities
  • Government & Defense
  • Telecommunications
  • Media & Entertainment
  • Retail & Consumer Goods
  • Transportation & Logistics
  • Healthcare & Life Sciences
  • Other Verticals (BFSI & Education)
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

List of the Key Players of the Global Edge Computing Market is

Cisco(US), HPE(US), Huawei(China), IBM(US), Dell Technologies(US), Nokia(Finland), Litmus Automation(US), AWS(US),Foghorn(US), Microsoft(US), VMWare(US), SixSq(Switzerland), EdgeIQ(US), Saguna(Isreal) Vapour IO(US)

The Global Edge Computing Market Scope can be Tabulated as below