Edge Computing Market Expected to Reach USD 11.92 Billion by 2028: Verified Market Research

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Mar 08, 2023, 10:15 ET

The market report is a good combination of qualitative and quantitative data that highlights significant market changes, obstacles that business and the competition must overcome, as well as new possibilities and trends in the Edge Computing Market.

JERSEY CITY, N.J., March 8, 2023 /PRNewswire/ -- The global Edge Computing Market is projected to grow at a CAGR of 23.97% from 2021 to 2028, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 2.98 Billion in 2020 and is expected to reach USD 11.92 Billion by the end of the forecast period.

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Browse in-depth TOC on "Edge Computing Market"

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Edge Computing Market Driven by IoT Adoption and Increased Applications Across Industrial Verticals

The Edge Computing Market refers to the computing facility that is present close to the data sources, enabling distributed processing to support Internet of Things (IoT) and mobile computing technologies. This market has been rapidly growing due to increased adoption and applications across numerous industrial verticals, as well as the increased acceptance and use of IoT, which is loading up cloud infrastructure.

Edge computing technology allows data to be processed locally, rather than being routed to a data center, thereby accelerating data streams and supporting real-time data processing. This technology enhances the current cloud architecture and enables organizations to make quicker decisions. Moreover, businesses using IoT actuators, sensors, and other devices are quickly embracing edge computing alternatives such as edge nodes, devices, and hyper-localized data centers.

As work from home becomes the new norm and the healthcare system reaches a tipping point with online consultations, a network design that demands low-latency connectivity and strong security is anticipated to emerge. Edge computing, with special equipment and designs created for certain use cases, has developed into a solution-specific technology.

Key players in the Edge Computing Market include IBM, Cisco, HPE, Huawei, GE Digital, Saguna Networks, Dell Technologies, Cloudflare, Inc, and Microsoft. These companies are continuously adopting key development strategies to improve their market ranking and increase their market share. They are also engaged in product benchmarking and SWOT analysis to ensure they remain competitive and meet the needs of their customers.

In conclusion, the Edge Computing Market is expected to continue growing due to its ability to support IoT and mobile computing technologies, as well as its ability to enhance cloud architecture and enable organizations to make quicker decisions. With the rapid adoption of this technology by telecom companies, there is a significant opportunity for growth in the market.

Based on the research, Verified Market Research® has segmented the global Edge Computing Market into Component, Application, Vertical, And Geography.

Edge Computing Market, by Component

Hardware
Platform
Services

Edge Computing Market, by Application

Industrial Internet Of Things
Smart Cities
Remote Monitoring
Others

Edge Computing Market, by Vertical

Telecommunications
Media And Entertainment
Government And Defense
Others

Edge Computing Market, by Geography

North America

U.S
Canada
Mexico

Europe

Germany
France
U.K
Rest of Europe

Asia Pacific

China
Japan
India
Rest of Asia Pacific

ROW

Middle East & Africa
Latin America

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