The global edge computing market is expected to grow by USD 9.14 billion during 2020-2024, 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 2020-2024 (Graphic: Business Wire)
Centralized computing systems have a geographically distributed infrastructure with high latency. It does not help in minimizing the response time in many time-sensitive applications such as autonomous vehicles and wearables. This is propelling the need for and adoption of decentralized edge computing solutions because they speed up the decision-making task by enabling low-latency in computing. Edge computing nodes involve reduced round-trip time as they are located much closer to the user or device. Thus, such benefits of decentralized edge computing solutions will boost the growth of the edge computing market during the forecast period.
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As per Technavio, the growing limitations of front-end devices 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 influence market growth over 2020-2024.
Edge Computing Market: Growing Limitations of Front-End Devices
Front-end devices have relatively limited battery life, computational power, and hardware resources in comparison to dedicated servers or data centers. As a result, they are rather used to forward the collected data to dedicated servers. However, there are times when the cloud servers cannot use the data generated by these front-end devices. This is leading to an increase in the utility of edge computing solutions. Edge node hardware present in these solutions speedily interprets a significant amount of data and immediately sends the response to the end-user or device. Thus, with growing limitations of front-end devices, the market for edge computing is expected to showcase a positive outlook during the forecast period.
“The optimization of network traffic for sustainable energy usage is another major factor that will boost market growth 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, government, retail, healthcare, finance, and other end-users) and geographic segmentation (North America, APAC, Europe, South America, and MEA).
The North America region led the edge computing market in 2019, followed by Europe, APAC, South America, and MEA. During the forecast period, the North America region is expected to register the highest incremental growth due to factors such as the growing emphasis on improving efficiency in IT infrastructure within commercial and industrial environments. Moreover, the increasing adoption of big data analytics and IoT by end-users will also contribute to the growth of the market.
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Some of the key topics covered in the report include:
- Industrial manufacturing
- Other end-users
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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