In a recent published report, Kenneth Research has updated the Edge Computing Market report for for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Edge Computing Market products.
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According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017
Global Edge Computing Market
The global edge computing market is forecasted to reach USD 8.96Bn by 2023, expanding at CAGR of 32.6%. Edge computing brings data processing nearer to IoT sensors, to decrease latency and improve efficiency. The internet of things are driven by huge volumes of data generated from activities in our day-to-day lives. Collecting, sending, and processing the massive quantities of data requires companies to act intelligently, quickly, and make better business decisions. Edge computing is a network of data centers that store and process data locally before sending them or cloud. It optimizes computing to avoid disruptions in sending and receiving data.
The global edge computing market is further classified into applications and end users. Based on applications, it is further sub-classified into smart cities, smart factories, connected healthcare, connected vehicles, smart grids, and other. Other applications include edge computing in gaming and e-commerce. Smart cities holds the most significant market share. The rising trend of urbanization is expected to initiate smart city projects to resolve various urban problems using ICT as a base. This will result in the increased application of edge computing in this domain.
Based on end users industries, edge computing networks will be used in the manufacturing sector, energy and utility sector, IT and telecommunication, healthcare and life sciences, and consumer appliances. The IT and telecommunication sector is expected to grab the most significant market share and expand at the highest CAGR. Edge computing is expected to play an active role in LTE networks and assets , as well as the 5G revolution.
By regions, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America would secure the highest demand. Edge computing is the crucial factor in the IOT trend in this region. Asia-Pacific is expected to grow at the highest CAGR. The region is expected to grow at a CAGR of 40.5%.
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Key growth factors
The rising number of devices that are connected to artificial intelligence require a lot of real-time analysis. Relying on traditional cloud computing is difficult. That is why it is predicted that edge computing would be the next big trend after cloud.
To avoid network congestions, service providers are deploying a system on the internet that caches the information close to the users by duplicating the content on multiple servers. This is an example of edge computing.
Threats and key players
The crucial challenges faced in deploying edge computing are complications in discovering the edge nodes, and uncompromising quality of services and quality of experiences
The key players in the North America edge computing market are Cisco Systems, Inc, Microsoft Corporation, IBM, Google, Amazon, SAP, Oracle, Huawei Technologies Co.Ltd, and Intel.
What’s covered in the report?
1. Overview of the global edge computing market.
2. The current and forecasted regional (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa) market size data for the North America edge computing market, based on applications: smart cities, smart factories, connected healthcare, connected vehicles, smart grids, and other, based on end users industries manufacturing, energy and utility, IT and telecommunication, healthcare and life sciences, consumer appliances, and transportation and logistics.
3. Market trends in the global edge computing market.
4. Market drivers and challenges for the global edge computing market.
5. Analysis of company profiles of major players operating in the market.
1. Understand the demand of global edge computing market by application and end user industry to determine the viability of the business.
3. Formulate a product marketing strategy – based on the position in the value chain and determine the optimal product/service placement.
4. Identify the gap areas and address them.
5. Develop strategies based on the industry and economic factors for each of the segments.
6. Define the competitive positioning by comparing the products and services with the key players in the market.
With the given market data, Kenneth Research offers customizations according to specific needs. Write to us at [email protected].
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
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