Global Edge Computing Market Status and Prospect, Forecast 2018 to 2026
Edge computing is a network mesh of micro data centres that processes and stores critical data closer to source of data or nearer to end user. This reduces communications bandwidth between central datacentres/cloud and end-user devices owing to which there is reduced network traffic. Edge computing can be used for data acquisition, mobile signature analysis, data caching etc.
Increasing penetration of Internet of Things (IoT) and rising adoption of cloud services and solutions are key factors driving growth of the global edge computing market. In addition, growing smart city projects and rising adoption of connected devices are other factors expected to propel growth of the global edge computing market over the forecast period. Increasing adoption of real time analytics and big data analytics are further boosting demand for edge computing. This is another factor expected to drive growth of the global edge computing market over the forecast period.
High deployment cost, and concerns related to data security are key factors hampering growth of the global edge computing market. Additionally, lack of skilled workforce is another factor expected to hamper growth of the global edge computing market over the forecast period.
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The global edge computing market is segmented on the basis of component, application, end user, and region. On the basis of region, the global edge computing market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America is a dominant player in the global edge computing market, and accounts for largest market share in terms of revenue. This dominance can be attributed to increasing adoption of edge computing solutions & services in the region. The market in Europe accounts for second highest share and is expected to register a CAGR of XX.X% during the forecast period. The market in Asia Pacific is projected to register highest growth rate in terms of revenue, owing to rising digitization, and increasing adoption of big data analytics among countries in this region.
Prominent players in the global edge computing market are Nokia Corporation, Huawei Technologies Co., Ltd., Juniper Networks, Inc., Dell Inc., Cisco Systems, Inc., Hewlett Packard Enterprise Company, Foghorn Systems Inc., Vasona Networks, Inc., MachineShop, Inc., and Saguna Networks Ltd.
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