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Global Edge Computing Market to Exhibit 30% CAGR During 2020-2030

Companies in the Edge Computing Market are facing issues in keeping their production facilities fully functional due to shortage of staff and resources amidst the COVID-19 (Coronavirus) outbreak. Get a hands-on over key drivers and threats to the Edge Computing Market to make your company future-ready post the pandemic. Avails out reports for exciting prices to learn new opportunities that companies can capitalize on during and after the Coronavirus crisis.

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Edge computing products facilitate enhanced processing power and data transmission between connected devices. The shift in consumer preference for smart devices over conventional vehicles, and homes drives the demand for edge computing components such as services, software, and edge-managed platforms. Industrial automation trends that employ artificial intelligence (AI), and machine learning (ML) to curb costs and increase production capacities also contribute to growth.

global edge computing market 01

The global edge computing market exhibits a skyrocketing growth trajectory with a 30% CAGR during the forecast period (2020 – 2030). Edge computing sensors and routers act as input mechanisms for industrial automation. When combined with edge-managed platforms, organizations can remotely monitor, and control production processes. Market players are investing in expanding their global footprint in high-growth regions such as East Asia.

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Global Edge Computing Market: In-Depth Assessment on Key Segments

The global edge computing market is segmented on the basis of component, application and region.

Component Application Region
Hardware Energy & Utilities North America
Edge Nodes/Gateways (Servers) Industrial Latin America
Sensors/Routers Transportation & Logistics Europe
Others Smart Cities, Smart Homes, Smart Buildings East Asia
Software Healthcare South Asia & Oceania
Services Agriculture Middle East & Africa
Edge-Managed Platform Retail  
  Datacenters  
  Others  

 

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Digital Transformation Due to COVID-19 Lockdowns- Key Growth Factor

Workforces across industries and companies are adopting digital methods of collaboration due to the COVID-19 pandemic. This has led to a surge in demand for edge computing capabilities by IT companies that offer collaboration products. Google LLC, Zoom Video Communications, and Datacenter providers are some examples of edge computing. As the user counts increase, so will the need for enhanced edge computing. For instance, Zoom Video Communications has been buying servers across the world to increase its user capacity. The company has witnessed a huge uptake in user counts since nationwide lockdowns were imposed to contain the spread of COVID-19.

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Similarly, Google LLC is increasing its processing power to facilitate the use of its products such as Hangouts, Google Classrooms, and Google Business. The trend of digital transformation among organizations and consumers alike presents exponential growth opportunities for market players. Further, it is expected that once on-board, users of edge computing will realize the benefits of the varied range of products and continue to generate demand during the forecast period.

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