Edge Computing Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2022-2028

 

Edge Computing Market

The increase in revenue for the edge computing business is also being attributed to a shift in consumer preference for high-performance smartphone apps. During the forecast period, the worldwide Edge Computing Market would grow 13.7 times from its current value. Leaders in the edge computing sector will benefit from telecom corporations adopting Multi-access Edge Computing (MEC). Edge computing products will see a sharp increase in demand as telecom providers seek to improve the performance speed of mobile applications. The main factors influencing expansion are the advantages of multi-access edge computing, such as decreased network congestion.

Edge computing use cases include the consumer desire for high-performance smartphone applications like high-definition multiplayer online battle arena (MOBA) games. Edge computing and the Internet of Things (IoT) offer attractive potential for edge computing architecture in developing nations like China, India, and Indonesia. In addition, edge computing and IoT for architects are quickly becoming important topics. Edge Computing Market is a technological advancement that is not exclusive to any one business. More industries find edge relevant as it develops, which merely creates new requirements or places existing ones in new situations, drawing in new parties to address these problems. IoT and edge computing for architects represent a highly promising future now more than ever.

IoT-enabled devices necessitate the usage of cutting-edge network infrastructure and swift processing, two of edge computing's key advantages. Therefore, between 2022 and 2028, IoT devices and high-performance smartphone applications will support the expansion of the Edge Computing Market. Large businesses are also increasingly utilising edge computing in sectors like manufacturing and telecommunications. According to Huawei, with more than 50 billion connected devices, over 50% of data may be evaluated, processed, and stored at the network edge by 2020.

The North American region would maintain its share-wide dominance with over 27% CAGR during the projection period when combined with the high disposable income of consumers. Out of six key regions, East Asia and South Asia & Oceania in the Asia Pacific offer the most lucrative chances.

Between 2022 and 2028, East Asia will grow at a CAGR of 30%, while South Asia and Oceania will grow at a CAGR of 32%. The driving force behind the region's explosive growth is the booming digital economy of countries like Indonesia, India, Singapore, China, Japan, and South Korea.

Top Companies involved are- Microsoft Corporation, IBM Corporation, Cisco Systems Inc., Google Inc., Hewlett Packard Enterprise Company, Intel Corporation, Schneider Electric SE, Nokia Corporation, Huawei Technologies Co. Ltd., and Aricent Inc.

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