Edge Computing market is expected to grow from USD 2.97 billion in 2019 to USD 16.80 billion by 2026 at a CAGR of 28% from 2020 to 2026.
Edge computing supplements the prevailing cloud paradigm by facilitating processing closer to the info source, thereby enabling organizations to hurry up decision-making. As an example, Purdue University that uses IoT sensors and devices to review and improve plant growth and food production processes, partnered with a foothold computing solution provider. With the partnership, the university now leverages the wireless and edge computing technologies to collect, collocate, process, and transmit the voluminous data generated by the sensors. Features like growing adoption of Internet of Things (IoT) across industries; increasing demand for low-latency processing and real-time, automated decision-making solutions; and a requirement for surmounting exponentially increasing data volumes and network traffic.
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The global Edge Computing market has been segmented as below:
Industrial Internet of Things (IIoT)
Augmented Reality (AR) and Virtual Reality (VR)
By Organization Size
Small and Medium-sized Enterprises (SMEs)
Energy and Utilities
Government and Defense
Media and Entertainment
Retail and Consumer Goods
Transportation and Logistics
Healthcare and Life Sciences
Rest of The World
Cisco, HPE , Huawei, Dell Technologies, Nokia, IBM , Foghorn Systems, Machineshop, Saguna Networks, Litmus Automation, and others are among the major players in the global Edge Computing market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.
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