Dublin, Nov. 08, 2019 (GLOBE NEWSWIRE) -- The "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 2024" report has been added to ResearchAndMarkets.com's offering.
The global edge computing market is projected to grow from USD 2.8 billion in 2019 to USD 9 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 26.5% during the forecast period.
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), FogHorn Systems (US), SixSq (Switzerland), MachineShop (US), Saguna Networks (Israel), Vapor IO (US), ADLINK (Taiwan), Altran (France), and Axellio (US). The study includes an in-depth competitive analysis of these key players in the edge computing market with their company profiles, recent developments, and key market strategies.
Rising focus of enterprises on increasing speed, ensuring resiliency and security and eliminating outage issues in minimal time, to drive the growth of edge computing market
The edge computing market is growing rapidly with the growing adoption of Internet of Things (IoT) across industries; rising demand for low-latency processing and real-time, automated decision-making solutions; and the need for surmounting exponentially increasing data volumes and network traffic. However, a reluctance among Small and Medium-sized Enterprises (SMEs) to adopt edge computing solutions owing to initial Capital Expenditure (CAPEX) for infrastructure is projected to limit the growth of the market.
Industrial Internet of Things application segment to grow at the highest CAGR during the forecast period
The implementation of IoT across industries has increased rapidly, which drives companies to implement solutions that could enhance IoT deployments through data processing closer to the source. By infusing edge computing in Industrial Internet of Things (IIoT) processes, companies could achieve an improved network communication and cooperative coordination with the cloud connected to the system. Further, it helps organizations to reduce workloads by facilitating lost-cost, low-power, and high bandwidth networks.
Manufacturing vertical to hold the largest market size during the forecast period
Edge computing facilitates localized processing which helps reduce latency issues and enables smart and intelligent manufacturing through predictive analytics. With the rise in IoT deployment, manufacturing companies have been rapidly adopting edge computing to improve interoperability among IoT devices, reduce unforeseen downtime issues, and improve production efficiency.
Edge computing market in Asia-Pacific to grow at the highest CAGR during the forecast period
The high growth of the market in Asia-Pacific (APAC) is attributed to the pervasive use of mobile devices, growing data volumes, and increasing assimilation of workload-centric Information Technology (IT) infrastructure in the region with the rising need of businesses to remain globally competitive. Furthermore, the inclination of countries across the region toward emerging technologies, such as cloud computing, IoT, 5G, and Artificial Intelligence (AI), is also expected to fuel the growth of the edge computing market.
However, limited technology sophistication among SMEs, privacy issues, and limited technical expertise in advanced technologies remains the biggest hurdle in the edge computing adoption across APAC. Regional technological advances and increasing awareness of edge computing benefits to minimize infrastructure complexities and installation costs opens new avenues for the growth of edge computing market in the region.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the Edge Computing Market
4.2 Market By Component
4.3 Market By Application (2019 vs 2024)
4.4 Market By Organization Size (2019 vs 2024)
4.5 Market By Vertical (2019 vs 2024)
4.6 Market Investment Scenario
5 Edge Computing Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Adoption of IoT Across Industries
5.2.1.2 Rising Demand for Low-Latency Processing and Real-Time, Automated Decision-Making Solutions
5.2.1.3 Surmounting Exponentially Increasing Data Volumes and Network Traffic
5.2.2 Restraints
5.2.2.1 Initial Capex for Infrastructure
5.2.3 Opportunities
5.2.3.1 Emergence of Autonomous Vehicles and Connected Car Infrastructure
5.2.3.2 Lightweight Frameworks and Systems to Enhance Efficiency of Edge Computing Solutions
5.2.4 Challenges
5.2.4.1 Vulnerability Issues With Edge Nodes
5.3 Use Cases
5.3.1 Use Case 1: Maximum Asset Utilization By Remotely Monitoring Machines Located in Harsh Environmental Conditions
5.3.2 Use Case 2: Improved Predictive Maintenance Through Consistent Asset Performance Evaluation
5.3.3 Use Case 3: Implementing Core-To-Edge Infrastructure for Network Complexity Reduction, Network Outage Elimination, and Patient-Care Improvement
5.3.4 Use Case 4: Deploying Edge Data Centers for Improved Content Delivery and Website Latency
5.3.5 Use Case 5: Improved Operational Margins Through Edge Analytics and Real-Time Visualization
5.3.6 Use Case 6: Enhanced Internet Performance and Gaming Consistency With Edge Nodes
5.3.7 Use Case 7: Reducing Road Traffic Accidents Through Real-Time Localized Processing
5.3.8 Use Case 8: Achieving Edge Colocation to Improve Roi and Meet Rising Consumer Demands
6 Edge Computing Market By Component
6.1 Introduction
6.2 Hardware
6.2.1 Decentralizing Computing Processes and Upgrading Existing It Infrastructure to Fuel the Demand for Edge Computing Hardware
6.3 Platform
6.3.1 Controlling, Monitoring and Connecting Remotely Located Resources to Drive the Adoption of Edge Computing Platform
6.4 Services
6.4.1 Controlling It Costs and Achieving Effortless Integration to Drive the Demand for Services
7 Edge Computing Market By Application
7.1 Introduction
7.2 Smart Cities
7.2.1 Eliminating Network Overloading Risks for Effective Management of Assets and Services to Drive the Adoption of Edge Computing in Smart Cities
7.3 Industrial Internet of Things
7.3.1 Optimizing the Potential of Connected Infrastructure in Industries to Drive the Demand of Edge Computing for IIoT
7.4 Remote Monitoring
7.4.1 Limiting Downtime and Extending Operational Lifespan to Boost the Demand of Edge Computing for Remote Monitoring
7.5 Content Delivery
7.5.1 Growing Focus on Enhancing Customer Interactions and Ensuring Timely Delivery to Propel the Demand of Edge Computing for Content Delivery
7.6 Augmented Reality and Virtual Reality
7.6.1 Delivering Immersive Experiences to Improve Customer Satisfaction and Loyalty to Fuel the Adoption of Edge Computing for Augmented Reality and Virtual Reality
7.7 Others
8 Edge Computing Market By Organization Size
8.1 Introduction
8.2 Small and Medium-Sized Enterprises
8.2.1 Reducing Data Loss and Downtime to Drive the Demand for Edge Computing in Small and Medium-Sized Enterprises
8.3 Large Enterprises
8.3.1 Rising Need to Leverage Voluminous Data Generated Through Various Channels Driving the Adoption of Edge Computing Among Large Enterprises
9 Edge Computing Market By Vertical
9.1 Introduction
9.2 Manufacturing
9.2.1 Improving Disaster Recovery and Enabling Real-Time Autonomous Decisions at Factory Floors to Fuel the Adoption of Edge Computing in the Manufacturing Vertical
9.3 Energy and Utilities
9.3.1 Proactively Managing Assets in Remote and Harsh Environmental Conditions to Propel the Demand for Edge Computing in the Energy and Utilities Vertical
9.4 Government and Defense
9.4.1 Meeting Mission Demands and Eliminating Vulnerabilities in Minimal Time to Boost the Adoption of Edge Computing in the Government and Defense Sector
9.5 Telecommunications
9.5.1 Harnessing Massive Customer Data and Ensuring Data Security to Boost the Demand for Edge Computing Solutions in the Telecommunications Vertical
9.6 Media and Entertainment
9.6.1 Delivering Enriching Experiences Through Instantaneous Connection to Drive the Demand for Edge Computing in the Media and Entertainment Vertical
9.7 Retail and Consumer Goods
9.7.1 Growing Customer Expectations and Need for Achieving High Customer Success Rates to Drive the Adoption of Edge Computing in the Retail and Consumer Goods Vertical
9.8 Transportation and Logistics
9.8.1 Managing Fleet & Freight Transportation and Ensuring Complete Passenger & Driver Safety to Boost the Adoption of Edge Computing in the Transportation and Logistics Vertical
9.9 Healthcare and Life Sciences
9.9.1 Creating Data-Driven Personalized Experiences and Treatment Plans to Bolster the Adoption of Edge Computing in the Healthcare and Life Sciences Vertical
9.10 Others
10 Edge Computing Market By Region
10.1 Introduction
10.2 North America
10.2.1 United States
10.2.1.1 Increasing Adoption of IoT Devices to Drive the Adoption of Edge Computing in the US
10.2.2 Canada
10.2.2.1 Imminent Need for Harnessing Rising Data Volume to Propel the Growth of the Market in Canada
10.3 Europe
10.3.1 United Kingdom
10.3.1.1 Increasing Technology Adoption and Various Government Initiatives to Fuel the Growth of Market in the UK
10.3.2 Germany
10.3.2.1 High-Income Markets and Rising Strategic Partnerships to Fuel the Growth of Market in Germany
10.3.3 France
10.3.3.1 Increasing Investments By Global Edge Computing Providers to Bolster the Growth of Market in France
10.3.4 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.1.1 Rapid Technological Advancements and Growing Number of Strategic Partnerships Among Technology Companies to Drive the Growth of Edge Computing Market in China
10.4.2 Japan
10.4.2.1 High Investment in Labor-Savvy Technologies to Fuel the Growth of Market in Japan
10.4.3 Australia
10.4.3.1 Identifying New Growth Avenues By Incorporating Technologies in Business Strategies to Bolster the Adoption of Edge Computing in Australia
10.4.4 Rest of Asia Pacific
10.5 Middle East and Africa
10.5.1 Saudi Arabia
10.5.1.1 Increased Inclination of Enterprises Toward Advanced Technologies to Fuel the Growth of the Market in Saudi Arabia
10.5.2 United Arab Emirates
10.5.2.1 Rising Expansion of Edge Computing Providers in the Country to Add to the Growth of Market in the UAE
10.5.3 South Africa
10.5.3.1 Growing Cloud Workloads and Increasing Investments By the Edge Computing Vendors to Fuel the Growth of Edge Computing Market in South Africa
10.5.4 Rest of Middle East and Africa
10.6 Latin America
10.6.1 Brazil
10.6.1.1 Growing Adoption of Cloud-Based Services to Propel the Growth of Market in Brazil
10.6.2 Mexico
10.6.2.1 Need for Improving the Declining Quality of Broadband to Fuel the Demand for Edge Computing in Mexico
10.6.3 Rest of Latin America
11 Competitive Landscape
11.1 Competitive Scenario
11.1.1 Partnerships, Agreements, and Collaborations
11.1.2 New Product Launches and Product Enhancements
11.1.3 Business Expansions
12 Company Profiles
12.1 Introduction
12.2 Cisco
12.3 HPE
12.4 Huawei
12.5 Dell Technologies
12.6 Nokia
12.7 IBM
12.8 Foghorn Systems
12.9 MachineShop
12.10 Saguna Networks
12.11 Litmus Automation
12.12 Sixsq
12.13 Azion Technologies
12.14 Vapor IO
12.15 Adlink
12.16 Altran
12.17 Axellio
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