Edge Computing Market Growth, Demand and Challenges of the Key Industry Players 2023-28

Author: Elena Anderson

Marketing Manager

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Global Edge Computing Market Research Report 2023-2028:

According to the latest report by IMARC Group, titled " Edge Computing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 20 23-2028

," the global edge computing market size reached US$ 11.7 Billion in 2022.

Edge computing refers to a network of micro data centers that assist in reducing the number of processes running on the cloud by storing critical data closer to the source or end user. It is widely used to optimize cloud computing systems by minimizing network traffic and communications bandwidth between cloud and user devices.

It aids in data acquisition, mobile signature analysis and data caching while decreasing latency and improving the overall process efficiency. It is widely being deployed across organizations for enhancing their production, performance as well as profits.

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Global Edge Computing Market Trends:

The market is primarily driven by the rapid growth of the Internet of Things (IoT) on the global level. Edge computing solutions are widely integrated with IoT-enabled devices, which aids in efficiently handing, processing and handling large volumes of data. These solutions also assist in improving internet connectivity for receiving and delivering data via the cloud. This, along with the escalating adoption of connected devices and the rising applications requiring real-time computing, is providing a thrust to the market growth.

Moreover, the growing adoption of real-time and big data analytics is strengthening the demand for edge computing. The market is further driven by the significant improvements in network technologies, including 4G and 5G connections. The development of faster and uninterrupted networks assists in supporting real-time applications, thereby creating a positive outlook for the market. There has been a steady increase in the implementation of multi-access edge computing (MEC) by telecom companies that is used for mitigating network congestion and improving application performance. This, in confluence with the rising adoption rates of edge computing by various organizations to reduce the costs associated with an extensive cloud computing architecture, is providing an impetus to the market growth.

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In addition to this, the widespread adoption of the remote working model by various enterprises on account of the rapid outbreak of the coronavirus disease (COVID-19) is acting as another major growthinducing factor. These computing solutions are extensively being utilized for enhancing the network performance of streaming services amid the rising trend of work-from-home culture across the globe.

View Report TOC, Figures and Tables: https://www.imarcgroup.com/edge-computing-market

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Key Market Segmentation

The research report includes the following segments:

Breakup by Component:

• Hardware

• Software

• Services

Breakup by Organization Size:

• Small and Medium-sized Enterprises (SMEs)

• Large Enterprises

Breakup by Vertical:

• Manufacturing

• Energy and Utilities

• Government and Defense

• BFSI

• Telecommunications

• Media and Entertainment

• Retail and Consumer Goods

• Transportation and Logistics

• Healthcare and Life Sciences

• Others

Breakup by Region:

• North America

• Asia Pacific

• Europe

• Latin America

• Middle East and Africa

Competitive Landscape with Key Players:

• ABB Ltd

• Amazon Web Services (AWS), Inc

• Cisco Systems Inc

• Digi International Inc

• General Electric Company

• Hewlett Packard Enterprise Development LP

• Huawei Technologies Co. Ltd

• IBM Corporation

• Intel Corporation

• Microsoft Corporation

• SAP SE

• Siemens AG

1. What will be the global edge computing market outlook during the forecast period (2023-2028)?

2. What is the impact of COVID-19 on the global edge computing market?

3. What are the global edge computing market drivers?

4. What are the key industry trends in the global edge computing market?

5. What is the global edge computing market breakup by component?

6. What is the global edge computing market breakup by organization size?

7. What are the major regions in the global edge computing market?

8. Who are the key companies/players in the global edge computing market?

Click here to visit the complete table of content with list of figures and tables: https://www.imarcgroup.com/edge-computing-market/toc

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