A key factor driving the growth of the market is the growing limitations of front-end devices. Front-end internet of things (loT) devices such as smartphones, sensors, appliances with embedded electronics, actuators, and connected wearables have relatively limited hardware resources, computational power, and battery life, compared with dedicated servers or data centers. However, the need to improve loT device performance and battery life has been putting pressure on electronics manufacturers to reduce energy consumption in these devices. One of the ways to achieve improved energy efficiency in loT devices is to shift the demanding processing tasks to discrete edge servers or data centers. Therefore, the exponential growth in demand for loT/connected devices in various applications and the miniaturization of electronics and loT components are expected to further fuel the demand for edge computing solutions at the user end during the coming years.
This market research report on the global edge computing market 2019-2023 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the development of 5G telecommunication networks as one of the key emerging trends in the global edge computing market:
Global edge computing market: Development of 5G telecommunication networks
The advent of 5G telecommunication technology is expected to play a significant role in accelerating the adoption of edge computing technology. 5G is touted to enable low-latency, high-bandwidth communication between the device and the network, which is expected to address the mobile connectivity issues for loT devices. The fifth generation of wireless telecom standards is expected to be made commercial by 2020, and several governments, telecom operators, communication hardware vendors, and smartphone and loT device manufacturers are already investing in developing and upgrading the existing telecommunication infrastructure. Moreover, the addition of 5G networks is expected to be followed by the influx of data from several hundred to thousands of loT devices and sensors, which will drive the need for edge computing solutions for processing the massive volumes of data.
“Apart from development of 5G telecommunication networks, the deployment of industry 4.0 infrastructure, the ongoing efforts to develop edge computing standards, the rising demand for decentralized computing to reduce latency in decision making and optimizing network traffic for sustainable energy usage are some other important factors that are expected to boost the growth of the market during the forecast period,” says a senior analyst at Technavio for research on IT professional services.
Global edge computing market: Segmentation analysis
This market research report segments the global 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 with a market share close to 47%, followed by EMEA, and APAC respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth, close to 2%.
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Five Forces Analysis
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