Posted by London, UK: Globally, the Edge computing market is seeing steady growth according to GlobalData’s research. The new set of technology products and services are among the key driving force for the growth of the Edge computing market globally.
The Edge computing market, which comprises sales of edge computing products, services and solutions, is expected to reach $17.8 billion in 2025, as per GlobalData. The market is up from an estimated $8 billion in 2019 at a CAGR of 15.6%, as per GlobalData.
In North America, sales of edge computing products, services and solutions will amount to $6.85 billion by 2025, which is equivalent to 38% of the total global market. Sales in Asia Pacific and Western Europe regions will amount to $4.65 billion and $3.39 billion, respectively, equivalent to 26.4% and 19.3% of the total global market.
“The proliferation of products, services and solutions for edge computing is being driven by an interest in edge computing’s potential to enable a plethora of new applications,” said GlobalData’s Principal Analyst Chris Drake.
These include applications that leverage large amounts of data, and those that depend on real-time data processing capabilities, such as autonomous, driverless vehicles and virtual, augmented and mixed reality (VR, AR, XR) applications.
The market for edge computing products, services and solutions already includes a diverse range of hardware, software and converged infrastructure offerings. These have been specifically designed to process data collected with different types of Edge devices.
They also include solutions that enable the development, management and delivery of new kinds of digital applications. In addition, IT vendors and service providers offer a wide variety of migration, management, and support services to help enterprise customers deploy, maintain, and capitalise on edge opportunities.
“Edge computing opportunities are being targeted by IT infrastructure vendors, as well as telecoms network operators, cloud service providers, content delivery networks (CDNs), systems integrators and others,” point out Drake.
“Some vendors and service providers offer solutions that are designed to support the edge computing requirements of specific verticals, for example manufacturing, energy or healthcare,” he added.
“Others offer generic solutions that are intended for a range of different use cases. Most IT vendors and service providers offer a choice of solutions, targeting different market opportunities,” concluded Drake.