Market Overview:
The Edge Computing Market shows prospects of growing at a rate of 24.51 percent in the forecast period.
Edge computing is a sub-sector of cloud computing that works closely with the Internet of Things devices. The sector has evolved and emerged as a mainstream IT sector and is set to grow further. As IOT devices and cloud platforms grow in demand for speed and distribution of services, the Edge Computing Market also looks at great growth prospects in the coming years. The edge computing sector is already a billion-dollar industry, thanks to recent trends of growth. The whopping CAGR for the decade will further increase the technology sector's market size and revenue flow.
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Multiple factors are contributing to the growth of the Edge computing sector. The growth of the IT industry and the development of global IT infrastructure have brought in the prospects of simultaneous growth for the edge computing sector. Today, edge computing is applied in different segments. Even in different sectors of daily life, edge computing is finding usage. From hardware and software solutions, edge computing is applied in different sectors.
Segmental Analysis:
The segmental assessment of the edge computing market is conducted based on technology, deployment, component, application, vertical, and region. Based on deployment, the edge computing market has been segmented into on-premises and cloud. Based on the technology, the edge computing market has been segmented into fog computing and mobile edge computing. Based on components, the edge computing market has been segmented into solutions, hardware, and software. The application-based, segmentation of the edge computing market consists of data caching, analytics, IoT, environment monitoring, location services, augmented reality, and others. Based on the vertical, the edge computing market has been segmented into hospitality, energy & utilities, healthcare, manufacturing, retail, education, semiconductor, government, transportation, IT & telecommunication, and others. Based on the regions, the edge computing market has been segmented into North America, Europe, Asia Pacific, and the rest of the global regions.
Regional Analysis:
Edge Computing Market Analysis by region gives a detailed view of the regional distribution of revenue in the market. Different regional markets contribute a major share of the revenue and profits of the edge computing sector. The major regional markets are North America, Europe, Asia Pacific, and the Rest of the World. The North America and Europe regions are leading in revenue and competitor presence for the sector.
Major regional markets show many opportunities for growth for the Edge Computing global sector and influence the CAGR of the market in the forecast period.
Industry News:
In December 2020, major competitors Samsung and IBM entered a collaboration to develop edge computing, create advanced networks for 5G deployment and cloud solutions for industries. The present edge computing industry develops through recent undertakings by stakeholders.
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