The global edge computing market size is poised to experience dynamic expansion on account of the promising growth of edge computing startups around the world, observes Fortune Business Insights™ in its report, titled “Edge Computing market size, share & industry analysis, By Component (Hardware, Software, Services), By Enterprise Size (SMEs, Large Enterprise), By Vertical (BFSI, Transportation, Healthcare, Manufacturing, Semiconductor, Government, IT & Telecommunication, Retail, Others) and regional forecast 2021-2027”. Businesses across the globe are expressing their desire for advanced solutions to optimize and automate their processes and augment the performance of cloud systems. To meet this escalating demand, several startups have emerged that are specializing in edge and cloud computing technologies. For example, France-based artificial intelligence (AI) specialist, Cartesiam, has developed NanoEdge AI that enables machine learning on microcontrollers attached to objects connected through the Internet of Things (IoT) at the edge. US-based Cato Networks, to take another example, specializes in providing solutions to connect remote offices, cloud resources, mobile users, and data centers into a secure software-defined WAN (SD-WAN) at the edge. Many more such edge computing startups specializing in niche domains are currently operating in major technology hubs and are broadening the horizons of this market.
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Highlights of the Report:
- Unmatched analysis of the factors shaping the market size, share, growth, and revenue;
- Microscopic examination of all possible market segments;
- Tangible insights into the regional developments of the market; and
- Granular evaluation of the dominant strategies of the leading market players.
Edge Computing to Aid Digital Transformation of Businesses amid COVID-19
The COVID-19 pandemic outbreak may turn out to be a boon for the edge computing market growth as the pandemic has triggered an unprecedented remote working trend around the globe, pushing organizations to adopt virtual communication and data-sharing solutions. Edge technologies can prove to be instrumental in this current crisis as the increased bandwidth and AI close to the data source boosts processing power and speed, providing quick access to data, especially for managers. This holds great significance in the present scenario because it allows businesses to take informed decisions based on real-time collection and analysis of data. A recent survey by IBM revealed that 91% of the respondents expected their companies to adopt edge computing systems in the next five years, while 84% believed that edge applications will accelerate operational efficiency and responsiveness. Thus, the coronavirus pandemic is an historic opportunity for players in this market to deepen the presence of edge computing in the business world.
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List of Key Players Covered in the Edge Computing Market Report:
- Dell Technologies
- IBM Corporation
- Huawei Technologies Co. Ltd.
- General Electric Company
- Telefonaktiebolaget LM Ericsson
- Oracle Corporation
- Microsoft Corporation
- Intel Corporation
- Cisco Systems, Inc.
- Amazon Web Services (AWS), Inc.
Large Companies to Maintain Dominance by Launching Cutting-Edge Products
The competitive milieu of this market is dominated by the operations of large tech companies that are constantly developing and introducing cutting-edge, next-generation edge computing solutions. Powered by their robust portfolios and strong financial foundations, these companies have been engaged in a monopolistic form of competition for some years now. However, the emergence of startups has challenged the position of the leading entities in this market.
North America to Lead the Market Underpinned by the Strong Presence of Tech Giants
North America is expected to occupy a commanding position in the edge computing market share for the foreseeable future owing to the strong presence and operations of technology bigwigs such as Google and Amazon in the US. Additionally, organizations in the region are rapidly adopting digital solutions to enhance their efficiency, productivity, and security, which bode well for this market.
Asia Pacific is anticipated to present excellent growth opportunities for market companies on account of the meteoric rise in smartphone adoption in the region’s developing economies. Besides this, companies such as Huawei are emerging as leaders in 5G technologies, thus generating incredible opportunities for the market.
- June 2021: Amazon Web Services (AWS) announced the launch of the AWS Snowcone, the company’s new portable, rugged, and secure edge computing and data transfer device. Smallest in the AWS Snow Family, the Snowcone is designed to enable deployment of applications at the edge, collect data, and process in locally.
- May 2021: IBM and Red Hat collaborated to develop and introduce novel solutions to facilitate the transition of enterprises and telecommunication companies to edge computing in the 5G era. The partnership brings together Red Hat’s flagship open-source technology and IBM’s specialist services in multi-cloud settings.
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Major Table of Content For Edge Computing Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Edge Computing Market Analysis, Insights and Forecast, 2028
- North America Edge Computing Market Analysis, Insights and Forecast, 2028
- Europe Edge Computing Market Analysis, Insights and Forecast, 2028
- Asia Pacific Edge Computing Market Analysis, Insights and Forecast, 2028
- The Middle East and Africa Edge Computing Market Analysis, Insights and Forecast, 2028
- Latin America Edge Computing Market Analysis, Insights and Forecast, 2028
- Competitive Landscape
- Company Profile
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Click here to get the short-term and long-term impact of COVID-19 on this Market.
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