Edge Computing Market: Asia-Pacific Region to Grow at Highest CAGR 32.8% By 2025
The IT & Telecom sector dominated the overall market in 2017 and is expected to generate the highest revenue during the edge computing market forecast period.
PORTLAND, PORTLAND, OR, UNITED STATE, March 31, 2023 /EINPresswire.com/ — According to the report by Allied Market Research, the global edge computing market garnered $1.73 billion in 2017 and is estimated to reach $16.55 billion by 2025, growing at a CAGR of 32.8% from 2018 to 2025. The research offers an extensive analysis of changing market dynamics, key segments, top investment pockets, leading market players, and competitive intelligence.
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The increase in the number of smart applications, the rise in load on cloud infrastructure, and the requirement for assistance for real-time applications facilitate the growth of the global edge computing market.
In addition, the emergence of the 5G network and the advent of various frameworks and languages for IoT solutions would offer opportunities for market players in the next few years. However, the market growth is hindered by locally available hardware and high costs for maintenance.
Based on components, the solutions segment held the major share, with almost 90% of the total market share in 2017, and will maintain its dominant position by 2025. The software in edge computing solutions enables users to offer messaging, local computing, and data caching and ensures security for connected devices. However, the services segment is estimated to register at the highest CAGR of 35.6% from 2018 to 2025, owing to an increase in the need for the management of analytical data during its lifespan.
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Based on application, the segment of the connected car would grow at the highest CAGR of 35.9% from 2018 to 2025, owing to the rise in the need to deliver real-time infotainment and other services for cars. However, the security and surveillance segment would continue to contribute the highest share in the industry and generate nearly one-fifth of the total revenue by 2025, on account of offering real-time threat detection and lowered network latency.
Regionally, Asia-Pacific would grow at the highest CAGR of 35.1% during the forecast period, owing to the rise in penetration of cellular technologies and mobile devices in emerging countries including China and India. However, North America held the largest market share in 2017, enabling almost two-fifths of the total share and is estimated to maintain a dominant share of the market through 2025.
The leading players discussed in the report include Amazon Web Services (AWS), Cisco Systems Inc., AT&T Inc., Fujitsu Limited, Dell Inc., IBM Corporation, Huawei Technologies Co. Ltd., Microsoft Corporation, Hewlett Packard Enterprise (HPE), Nokia Corporation, and others.
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Impact of COVID-19 on Edge Computing Market:
• The edge computing market is expected to grow during the Covid-19 pandemic outbreak. This is due to growing trend of using edge computing in artificial intelligence, called as “Edge AI”, used to provide accurate and real-time insights with isolation, effective identification, and treatment of Covid-19 patients.
• The demand for edge computing is expected to surge during the Covid-19 pandemic as it increases network speeds, eases the bandwidth, and combat security concerns which is essential for the current work situation.
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