According to a new Netscribes report published on Research on Global Markets, the global edge computing market is expected to have a significant compound annual growth rate (CAGR) of 32.6% and reach a market size of USD 9 Bn by 2023.
According to the report, multiple organizations across different sectors are deploying edge computing technology for real-time analysis of huge volumes of data in order to draw actionable insights. Edge computing is expected to be a key enabler of smart city applications like traffic, environment monitoring, safety, power, and telecommunications. Therefore, smart city initiatives will use edge computing to a great extent and occupy a market share of 26% in 2023.
The report also shows that edge computing has impacted several sectors including information technology (IT) and telecom, manufacturing, healthcare, logistics, and automotive. The rising demand for faster, responsive networks, which make edge computing a necessity in the telecom sector, and higher prevalence of distributed IT architecture in several firms are driving the adoption of edge computing technology across the world.
Key highlights of this report:
- Trends in the global edge computing market
- Comprehensive global market overview, including historical (2015–2017) and forecasted (2018–2023) market size, and market attractiveness analysis
- Qualitative analysis of the drivers and challenges affecting the market and its segments
- Analysis of the competitive landscape and profiles of the major players operating in the market
- Detailed analysis of the key developments and major innovations in the market
- Market segmentation based on application (smart city, smart factory, connected healthcare, connected vehicle, smart grid, and others [gaming, retail, etc.])
- Market segmentation based on end use industry (manufacturing, energy and utility, IT and telecom, healthcare and life science, consumer appliance, and transportation and logistics)
Check out the Netscribes report featured in this article:
This report has been formulated and designed with the purpose of giving businesses a concise understanding of the demand for edge computing solutions worldwide to determine the viability of the market, develop strategies based on the drivers, and help brands identify competition and respond accordingly.
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