Edge Computing Market Register to grow at a CAGR of 21.6% from 2022 to 2028.

Edge computing is a distributed computing framework that brings enterprise applications closer to data sources, such as IoT devices or local edge servers. It is a distributed information technology (IT) architecture in which client data is processed at the network’s periphery, i.e., as close to the originating source as possible. Edge computing eliminates the need to move data from endpoints to the cloud and back again. It has improved speed, security, and privacy protections while reducing operational costs and latency, thereby bringing reliability and resiliency to high-speed operations. Edge computing exhibits ultrahigh network performance, deployment flexibility, integrated virtual probe and real-time analytics, and other benefits across various applications. Industrial edge computing supports the connection of all assets used in the manufacturing, oil and gas, energy, and transportation sectors, along with allowing local data processing. With the projected surge in data volumes in the coming years and the likeliness of sending higher volumes of data to the cloud, latency would increase which will further increase its costs. Thus, along with the need to manage data volumes, the rising demand for low-latency processing and real-time automated decision-making solutions, the growing adoption of IoT across industries, the emergence of autonomous vehicles and connected car infrastructure, and the advent of the 5G network to deliver instant communication experiences are a few of the key factors that are likely to fuel the growth of edge computing market during the forecast period.

IBM CORPORATION; MICROSOFT CORPORATION; AMAZON WEB SERVICES, INC.; DELL TECHNOLOGIES; AND CISCO ARE AMONG THE KEY MARKET PLAYERS OPERATING IN THE EDGE COMPUTING MARKET.

The top five key players operating in the global edge computing market include IBM Corporation; Microsoft Corporation; Amazon Web Services, Inc.; Dell Technologies; and Cisco in 2021. Various other notable market players profiled in the global edge computing market are ADLINK Technology; EdgeConnex Inc.; FogHorn Systems; Litmus Corporation; The Hewlett Packard Enterprise Company; and Vapor IO, Inc. In addition to all the players profiled in the report, there are several other global, regional, and local players operating in the market which were also analyzed and studied during this study, to get a holistic view of the entire market.

The growth of the edge computing market in Asia Pacific is primarily attributed to the ongoing industrial automation on larger scales, wherein huge volumes of data are generated. Industries across Asia Pacific are inclined toward improving their operational efficiencies, and providing more interactive and digitized customer experiences by adopting advanced technologies such as IoT, AI, and ML. The need to manage vast data volumes, in turn, drives the use of edge computing use solutions in the region. Per the recent survey conducted by Tech Research Asia (TRA), 51% of IT professionals in the Asia Pacific have already begun embracing a hybrid IT approach, combining edge computing, public cloud, and on-premises infrastructure. According to a study by Schneider Electric, 28% of IT professionals in Asia Pacific have already deployed multiple edge sites, and an additional 38% of professionals are planning to implement edge projects in the coming years, in response to the growing bandwidth demands, reduced latency, and need for better cost control approach.

Most of the market initiatives were observed in North America, which has a high potential for edge computing providers. Few of the important market initiatives and product developments from the industry are mentioned below: