Portland, OR, July 24, 2019 (GLOBE NEWSWIRE) -- According to the report by Allied Market Research, the global edge computing market garnered $1.73 billion in 2017 and is estimated to reach $16.55 billion by 2025, growing at a CAGR of 32.8% from 2018 to 2025. The research offers an extensive analysis of changing market dynamics, key segments, top investment pockets, leading market players, and competitive intelligence.
Increase in the number of smart applications, rise in load on cloud infrastructure, and the requirement for assistance for real-time applications facilitate the growth of the global edge computing market. In addition, the emergence of 5G network and advent of various frameworks and languages for IoT solutions would offer opportunities for market players in the next few years. However, the market growth is hindered by locally available hardware and high costs for maintenance.
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Based on component, the solutions segment held the major share, with almost 90% of the total market share in 2017, and will maintain its dominant position by 2025. The software in edge computing solutions enable users to offer messaging, local computing, and data caching and ensures security for connected devices. However, the services segment is estimated to register at the highest CAGR of 35.6% from 2018 to 2025, owing to an increase in need for management of analytical data during its lifespan.
Based on application, the connected cars segment would grow at the highest CAGR of 35.9% from 2018 to 2025, owing to the rise in need to deliver real-time infotainment and other services for cars. However, the security and surveillance segment would continue to contribute the highest share in the industry and generate nearly one-fifth of the total revenue by 2025, on account of offering real-time threat detection and lowered network latency.
North America held the largest market share in 2017
Regionally, Asia-Pacific would grow at the highest CAGR of 35.1% during the forecast period, owing to the rise in penetration of cellular technologies and mobile devices in emerging countries including China and India. However, North America held the largest market share in 2017, enabling almost two-fifths of the total share and is estimated to maintain dominant share of the market through 2025.
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Frontrunners of the industry
The leading players discussed in the report include Amazon Web Services (AWS), Cisco Systems Inc., AT&T Inc., Fujitsu Limited, Dell Inc., IBM Corporation, Huawei Technologies Co. Ltd., Microsoft Corporation, Hewlett Packard Enterprise (HPE), Nokia Corporation, and others.
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