Edge Computing Market By Component (Hardware, Platform, and Service), By Application (Smart cities, Industrial Internet of Things [IoT], Remote monitoring, Content delivery, Augmented reality [AR] and Virtual reality [VR], and others), By Organization size (SME’s, and Large enterprise), By Verticals (Manufacturing, Energy & Utility, Government & Defense, Telecommunications, Media & Entertainment, Retail & Consumer goods, Transportation & Logistics, Healthcare & Life Science, and others), and Geography

 

Edge Computing Market size was valued at USD 3.7 billion in 2021 and is expected to reach USD 16.4 billion by 2028, at a CAGR of 34.1% during the forecast period 2022-2028. Factors such as growing industry-wide acceptance of the Internet of Things (IoT), growing demand for low-latency processing and real-time, automated decision-making solutions; and the need to address growing data volumes and network traffic exponentially. In addition, it is anticipated that the advent of autonomous vehicles and connected car networks and the need for lightweight frameworks and systems to increase the efficacy of edge computing solutions would create ample opportunities for vendors of edge computing. While in many applications, edge computing is used, the high initial costs and maintenance costs act as the impeding factor for the edge computing market. In addition, edge computing forces organizations to deal with the same network security models and physical security criteria for more remote servers where safety footprints and traffic patterns are open to all, thus hindering and challenging the security of the database. This study analyses the global edge computing market dynamics in a detailed manner to identify current trends and drivers, growth opportunities and potential challenges to the key stakeholders in the operating market. In addition, PBI has analyzed the global market to better equip customers with possible investment opportunities across region and consumer unmet needs.   Key Developments:  In March 2020, Google Cloud and AT&T announced a collaboration to help enterprises take advantage of Google Cloud’s technologies and capabilities using AT&T network connectivity at the edge, including 5G. In March 2020, Microsoft announced the acquisition of Affirmed Networks, which is a startup that offers fully virtualized cloud-native mobile network solutions.