LONDON--(BUSINESS WIRE)--The global edge computing market size is poised to grow by USD 5.74 billion during 2019-2023, according to a new report by Technavio, progressing at a CAGR of close to 41% during the forecast period.
Read the 142-page research report with TOC on "Edge Computing Market Analysis Report by end-user (industrial manufacturing, telecom, mobility, government, retail, healthcare, finance, and other end-users) and geography (the Americas, APAC, and EMEA).
The market is driven by the growing limitations of front-end devices. Also, the rising demand for decentralized computing to reduce latency in decision making will further boost the growth of the market during the forecast period.
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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 factors that will fuel the demand for edge computing solutions at the user end during the coming years. This will drive the growth of the market during the forecast period.
Furthermore, the increasing need for low-latency in computing or decision-making tasks is a key factor driving the demand for decentralized edge computing solutions. Edge computing nodes are located much closer to the device that requires discrete compute capabilities, which reduces the round-trip time from the device to the edge node and back to the device. In addition, many vendors have started providing edge computing solutions that can operate independently, without the need for full-time internet access. Such developments are expected to further boost the growth of the edge computing market. To find out more about Edge Computing Market Research 2019-2023, https://www.technavio.com/talk-to-us?report=IRTNTR30373
The report includes detailed profiles of the leading companies & prominent vendors of the market:
- Cisco Systems
- Hewlett Packard Enterprise
Market Segmentation by End-User:
The Edge Computing Market can be broadly categorized into the following:
- Industrial manufacturing
- Other end-users
Key Regions for the Edge Computing Market:
Featuring a breakdown of region-wise market shares until 2019.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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