Edge Computing Market will hit $15.7 billion by 2025


Posted October 7, 2020 by PranuBhosle

Edge Computing Market by Component (Hardware, Platform, and Services), Application (Smart Cities, IIoT, Content Delivery, Remote Monitoring, AR and VR), Organization Size (SMEs and Large Enterprises), Vertical, and Region - Global Forecast to 2025

 
The edge computing market size is expected to grow from USD 3.6 billion in 2020 to USD 15.7 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 34.1% during the forecast period. The key factors driving the edge computing market include growing adoption of Internet of Things (IoT) across industries; rising demand for low-latency processing and real-time, automated decision-making solutions; and need for surmounting exponentially increasing data volumes and network traffic.

With the increasing push toward Smart City initiatives, countries across the world are implementing edge computing solutions to enhance building security, home automation, parking and traffic management, and city asset management. Edge computing empowers IoT deployments in smart cities with low-latency and high bandwidth connectivity.

The edge computing market comprises major solution providers, such as Cisco (US), HPE (US), Huawei (China), IBM (US), Dell Technologies (US), Nokia (Finland), Litmus Automation (US), AWS (US), FogHorn Systems (US), SixSq (Switzerland), MachineShop (US), Saguna Networks (Israel), Vapor IO (US), ADLINK (Taiwan), Altran (France), Axellio (US), GE Digital (US), Moxa (Taiwan), Sierra wireless (Canada), Digi International (US), Juniper Networks (US), Clearblade (US), EdgeConneX (US), Edge Intelligence (US), and Edgeworx (US).

North America houses some of the major edge computing vendors, such as Cisco, IBM, HPE, Dell Technologies, FogHorn Systems, MachineShop, and Axellio. These players have their headquarters, direct sales offices, and large number of data centers in the region to cater to the North American client base. Many companies in the region are adopting edge computing to enhance their Information Technology (IT) infrastructure and leverage the benefits of new technologies, such as 5G and IoT, which has further added to the high adoption of edge computing solutions in North America.

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Issued By marketsandmarkets
Country India
Categories Blogging
Tags Edge Computing Market
Last Updated October 7, 2020