The edge computing market size is poised to grow at a CAGR of close to 41% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global edge computing market 2019-2023. (Graphic: Business Wire)
Centralized computing systems such as cloud computing have an inherent disadvantage of high latency due to their geographically distributed infrastructure. This reduces their viability in many time-sensitive applications such as autonomous vehicles and wearables, which require fast response times (below 25 milliseconds) to operate appropriately. Low-latency in computing or decision-making tasks stimulates the demand for decentralized edge computing solutions. Market vendors have started providing edge computing solutions that can operate independently, without full-time internet access, thus allowing users to reduce decision-making time in critical applications. Therefore, demand for decentralized computing to minimize latency in decision making will likely drive the growth of the edge computing market during the forecast period.
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As per Technavio, ongoing efforts to develop edge computing standards will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.
Edge Computing Market: Ongoing Efforts to Develop Edge Computing Standards
The current edge computing landscape is quite fragmented, and end-users of edge computing hardware and software have been facing interoperability issues, which are of significant concern to the stakeholders and industry groups. The number of independent organizations providing edge computing solutions has increased substantially over the past few years, intensifying the fragmentation and risk of incompatibility between technology solutions from different vendors. Therefore, many organizations and industry associations have started working together to define clear edge computing standards to promote better compatibility between hardware, software, and infrastructure vendors. Thus, the efforts to develop edge computing standards will be one of the critical edge computing market trends during the forecast period.
“Deployment of Industry 4.0 infrastructure and development of 5G telecommunication networks will have a significant impact on the growth of the edge computing market value during the forecast period,” says a senior analyst at Technavio.
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Edge Computing Market: Segmentation Analysis
This market research report segments the edge computing market by end-user (industrial manufacturing, telecom, mobility, and government) and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2018, followed by EMEA and APAC, respectively. The growth of the edge computing market share in the Americas can be attributed to several factors, such as the growing emphasis on improving efficiency in IT infrastructure within commercial and industrial environments and the increasing adoption of big data analytics and IoT by end-users.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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