The global edge computing market is expected to reach US$ 9.3 billion by 2026, growing with a significant CAGR during the forecast period. The growing demand for edge computing from large enterprises segment to drive the growth of the market.
The global edge computing market is expected to grow at a significant rate during the forecast period. The growing need for real-time applications in data analysis from various connected sensors and devices at the edge of network is driving the market demand for edge computing. With the rising adoption of cloud across the globe, huge amounts of data are generated that require time for processing. Cloud computing uses a single datacentre, whereas edge computing does data processing at the edge device, which reduces time latency. Owing to the various features provided by edge computing such as reduction in latency, reduction in bandwidth and the associated costs, real-time data processing, and others, it is widely being adopted across the globe.
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Growth of e-commerce is generating demand for manufacturing and logistics services. Edge computing is useful in applications for logistics and manufacturing industry, owing to the adoption of IoT in these industries. The amount of data generated by multiple sensors used in the systems in these industries require data analysis with high accuracy. Moreover, security is a major concern, as edge computing is a decentralized architecture and is more vulnerable to cybersecurity risks.
Various strategies such as joint ventures, partnerships, and new product developments are being undertaken by key players in the edge computing market, to gain competitive edge in the market. For instance, in August 2017, China Telecom Americas, a subsidiary of China Telecom Corporation, collaborated with Zhenhai Refining and Chemical Co. The collaboration has been done to build a smart petroleum refinery using multi-access edge computing (MEC) to reduce latency and provide a better user experience.
Based on the organization size, large enterprises held the largest market share in the year 2018.
Based on the end-use industry, IT & Telecom is expected hold a significant market share in the market during the forecast period, owing to the high adoption of edge computing in this sector.
Based on the region, North America held the largest market share in 2018, owing to the high adoption rate of edge computing in the region by the IT & Telecom sector.
In August 2019, Dell Technologies and AT&T collaborated for the development of open infrastructure technology for the next-generation network edge. The open infrastructure technology is designed to support the new cases at the edge of network. As the increasing number of customers are relying on cloud-based applications that require efficient computing of data the new development will thus improve the customer experience.
In June 2019, AT&T and Hewlett Packard Enterprise teamed up to accelerate the demand for edge computing and edge connections by businesses. AT&T’s Multi-access Edge Compute (MEC) services provides faster processing and enhanced security for the applications in business organizations.
In May 2019, Dell Technologies and Orange collaborated for multi-access edge computing for software-defined mobility with edge architectures and multi-cloud.