The global edge computing market size is expected to reach USD 155.90 billion by 2030, and is expected to expand at 36.9% CAGR from 2024 to 2030, according to a new report by Grand View Research, Inc. Artificial Intelligence (AI) integration into the edge environment is projected to drive market growth. An edge AI system is estimated to help businesses make decisions in real time in milliseconds. The need to minimize privacy concerns associated while transmitting large amounts of data, as well as latency and bandwidth issues that limit an organization's data transmission capabilities, are factors projected to fuel market growth in the coming years.
Edge Computing Market Report Highlights
- Over the projected period, the edge server segment is expected to be the booming hardware segment. The increased demand for edge servers throughout several industrial verticals accounts for the segment's promising growth prospects
- In terms of application, the AR/VR segment is projected to progress at a substantial CAGR because of the developing cellular network, which offers potential development for edge computing. For instance, to provide a high-quality VR experience to users, Ericsson has improved its radio infrastructure and 5G core
- In terms of industry vertical, the data center segment is projected to experience the highest CAGR over the estimated period. This can be ascribed to the fact that edge data centers overcome inconsistent connections and compute and store data close to the end-user
- The Asia Pacific region is anticipated to expand at the highest CAGR over the estimated period due to the advent of 5G in the region and the increasing number of IoT-incorporated devices. The evolution of telco edge infrastructure to support 5G-enabled applications is expected to be accelerated by the launch of 5G networks
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Machinery control and precision monitoring are a few use cases that are well-suited for AI on the edge. The latency requirement for a fast-running production line must be maintained to a bare minimum, which can be accomplished by using edge computing. Bringing data processing closer to the manufacturing facility can prove to be extremely important, which can be accomplished using AI. Artificial intelligence-based edge devices can be utilized in a wide range of end-point devices, including sensors, cameras, smartphones, and other IoT devices.
Moreover, the telecom edge is estimated to grow exponentially over the projected period. The telecom edge executes computing adjacent to the telco's mini-data centers, which are operated on the telco-owned property. Several telecom operators, including Telstra and Telefonica, are developing prototypes and pilot projects of open-access networks integrated with edge computing. Edge will be at the forefront of the telecom industry once 5G technology is fully deployed. The telecom industry is in a great position to enhance edge computing, but telecom businesses risk being abridged by irrelevant edge suppliers if they do not move up the value chain.
Presently, Edge computing use cases have outpaced initial infrastructure deployments, and are projected to provide momentum to edge computing infrastructure and use case investments. Edge computing is predicted to become more ubiquitous and evolve toward platform-centric solutions over the projection period. With this development, edge platforms can reduce the infrastructure intricacy using orchestration software and sophisticated management, and provide user-friendly environments for programmers to implement innovative edge services and applications.
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We have segmented the global edge computing market based on component, application, industry vertical, and region.
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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5G the Internet of Things (IoT) and Edge Computing are crucial infrastructure enablers for a range of new technology developments, frequently called Industry 4.0, that envelop areas such as autonomous vehicles, smart city grids, automated factories and data analytics.This spots an important step on the journey to digital transformation.
5G networks will change many industry domains in the next coming years.
From factory floors to healthcare, financial services industries will go to a completely new phase of connectivity because of 5G.5G, Edge along with IoT platforms and frameworks, are crucial infrastructure enablers for Industry 4.0.
Advanced abilities likewise predictive maintenance, condition-based monitoring, remote-guided vehicles and AR/VR are now beginning to be placed on industrial sites.Additionally notably higher speeds and throughput, 5G Networks can take benefit of network virtualization to slice out “network slices” for IIoT’s unique requirements.While this will be an evolution for many industries, manufacturing can crucially take advantage of higher bandwidth, lower latency and more reliable wireless networks!5G: Modifying the Factory Floor5G enables users to generate private networks that provide dedicated services to a group of devices in a described area likewise plants and factories.
This functionality will have a great effect on Industrial IoT as it allows manufacturers to segregate and fine-tune their networks for particular application requirements likewise high availability, quality-of-service, privacy and safety.Recently, most factories are connected with wired connections with traditional Fieldbus or Industrial Ethernet, assisting as a backbone for attaching field-level equipment to handle systems and PLCs.
Recently new standards such as OPC-UA enable connecting the factory to the organization by offering a structured and safer way for data access and control.The second phase of the 5G specification, 3GPP is a combination of standardization industries from around the world, operating to generate globally acceptable specifications for mobile networks.Know more about IoT CourseSome of the essential application areas contain vehicle-to-everything (V2X), usually for utilization in automotive; 5G Industrial IoT and private networks for industrial as well as manufacturing applications; developments to 5G URLLC and services; augmented reality (AR) and virtual reality (VR) applications; security; as well as network slicing.5G Networks could offer factory floors crucial abilities in terms of low latency, high reliability as well as assisting a notably higher number of devices.Influence of 5G “Network Edge” on Industrial IoTEdge computing will be an important technology for the success of Industry 4.0 by allowing real-time responses, cost reductions and assuring the security of data and systems.
The report provides a comprehensive analysis of the impact of the pandemic on the entire industry and provides an overview of a post-COVID-19 market scenario.Additionally, the developing worldwide economy gives the capital for associations to conjecture in unused digital forms in addition to the security required to boost versatility.
The high growth rates are supported by the analysis of 46 cyber security technologies and disciplines, 39 of which are still at an early stage in their product lifecycle, characterised by high growth, large supplier ecosystems and low customer saturation.
This has led to high levels of private investment in start-ups and delisting of large public cyber security suppliers as private equity targets returns from emerging, high growth technology segments.Get Sample PDF (including COVID19 Impact Analysis) of Market Report @ https://www.databridgemarketresearch.com/covid-19-insights/covid-19-impact-on-cyber-security-in-the-ict-industryCyber Security is the body of technologies, processes and practices designed to protect networks, computers, programs and data from major cyber threats, such as cyber terrorism, cyber warfare, and cyber espionage.
In a computing context, security includes both Cyber Security and physical security.Key Highlights– Cybersecurity was ranked as the second most important theme in the current travel space, coming second only to social media (GlobalDatas emerging technology travel trends survey (2019)).
As the global tourism industry is riding a digital wave, implementing new technologies such as cloud, AI, big data and IoT, travelers are more connected online than ever therefore this increases exposure.– Governments worldwide continue to update their cybersecurity strategy (see macroeconomic trends) as the threat increases yet they still operate under a cloak of secrecy.
Whilst this could be kept secretive, there does seem to be a current lack of investment and even identification in the travel and tourism space.– Travelers are both valuable and vulnerable.
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