Global Edge Computing Technology Market: Trends And Forecast To 2027

(MENAFN- GlobeNewsWire - Nasdaq)

New York, May 25, 2023 (GLOBE NEWSWIRE) -- announces the release of the report "Global Edge Computing Technology Market: Trends and Forecast to 2027" -
A realistic five-year forecast has been made for the future global markets for different types of components in edge computing.
The end uses for edge computing are discussed to establish global as well as regional usage. A future forecast has been made for all end-user industries.
In this report, the edge computing market has been segmented based on component, industry, and geography.The report provides an overview of the global edge computing market and analyzes market trends.
Using 2021 as the base year, the report provides estimated market data for the forecast period 2022 through 2027.Revenue forecasts for this period are segmented based on component, industry, and geography.
In addition, the report also offers a major regional analysis of North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. The estimated and forecast market revenue considered in this report is the summation of prices for software, hardware, and subscription services.
COVID-19 has had a massive impact on society since the start of 2020.This report considers the impact of COVID-19 and the economic slowdown it created.
With people relying more on technology, the demand for edge computing will increase and boost market growth. The report also focuses on the major trends and challenges that affect the market and the vendor landscape.
This report has been prepared in a simple easy-to-understand format, with several tables and charts/figures.The scope of the report includes a detailed study of global and regional markets for edge computing, with reasons given for variations in the growth of the industry in certain regions.
The report examines each component of edge computing technology, determines its current market size, and estimates its future market.The report also analyzes the market from the manufacturers' viewpoint as well as that of the final consumer.
Several technical issues arising out of the utilization of edge computing technologies are discussed, and solutions are indicated.
Report Includes:
- 40 data tables and 34 additional tables
- An updated overview and in-depth analysis of the global markets for edge computing technologies
- Analyses of the global market trends, with historical market revenue data (sales figures) for 2021, estimates for 2022, forecasts for 2023, and projections of compound annual growth rates (CAGRs) through 2027
- Discussion of industry growth driving factors and major technology issues and challenges affecting the market for edge computing technologies as a basis for projecting demand in the next few years (2022-2027)
- Estimation of the actual market size and revenue forecast for global edge computing market, and corresponding market share analysis by business segment, provider type, end-use industry, and region
- Updated information on recent market dynamics, industry shifts and regulations, and the impact of Covid-19 and other macroeconomic variables that will influence this market over the analysis period
- Analysis of market opportunities with a holistic review of Porter's five forces analysis and value chain analysis considering both micro- and macro environmental factors prevailing in the market
- Review of key granted patents and patents published on edge computing technologies by Mar 2023
- A look at the major growth strategies adopted by leading players operating in the edge computing industry, along with their recent developments, strategic alliances, and competitive benchmarking
- Identification of the major stakeholders and analysis of the competitive landscape based on recent developments and segmental revenues
- Descriptive company profiles of the leading global players, including Amazon Web Services (AWS), Microsoft Corp., Google (Alphabet Inc.), Cisco Systems Inc., Dell Technologies Inc., and VMware Inc.
Before the concept of a centralized data processing architecture dependent on a cloud data center, much of the processing occurred locally.This method was more expensive and less flexible than cloud computing, but local processing provided faster response time and more computing power close to the application, enabling solid performance.
With the move to cloud computing, most of the processing occurs at the data center, requiring the data to traverse multiple network interconnection points. These hops between internet nodes and gateways can lead to significant bottlenecks that increase latency, delaying application performance.
As the current generation of applications, including big data analytics, cognitive computing, and the Internet of Things, requires high bandwidth and low latency, the cloud model is causing performance degradation.Edge computing uses a new architecture to stage processing for part of the application workload closer to the user.
Enabled by cloud technologies, edge computing provides local scaled-down network nodes and mini-data centers that can be deployed within a distributed infrastructure. The goal is to improve application performance without incurring the cost and inflexibility of local processing.
The market drivers of edge computing are creating new installations of software, hardware, and network technologies at the edge of the network, resulting in a market of nearly $41.4 billion in 2021, growing to $124.7 billion in 2027 at a CAGR of 21.9% during the period 2022-2027.
In terms of industry, the healthcare and life sciences segment is expected to see significant growth in the edge computing market, driven by the need for real-time data processing and analysis in areas such as remote patient monitoring and telemedicine. The manufacturing industry is also expected to be a major contributor to the growth of the edge computing market, as companies look for ways to improve their supply chain management and manufacturing processes.
In terms of geographical regions, North America is currently the largest market for edge computing, with the U.S. accounting for most of the market share. North America leads the edge computing market with a nearly $18.6 billion segment value in 2021 and a CAGR of 22.4%. However, the Asia-Pacific region is expected to see the highest growth over the next few years, driven by the increasing adoption of IoT devices and the rollout of 5G networks in countries such as China and South Korea. The Asia-Pacific has invested in edge computing and is quickly picking up the pace with a CAGR of 24.8% to achieve $27.8 billion by 2027. Coinciding with the adoption of software-defined technologies, edge computing in Asia is advancing ahead of Europe.
Overall, the edge computing market is experiencing strong growth and is expected to continue to expand rapidly in the coming years as more businesses adopt edge computing technologies to improve their data processing and analysis capabilities.
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