Azoth Analytics has released research named “Global Edge Computing Market: Market Size, Insights, Competition, Covid-19 Impact and Forecast (2023-2028) (2022 Edition)” which provides a complete analysis of the Global Edge Computing industry in terms of market segmentation by Component, Application End Users, and Countries.

The research also looks at the market's growth indicators, restraints, supply and demand risk, and other important statistics, as well as a full assessment of current and future market trends that are relevant to the market's evolution.

During 2023-2028, Global Edge Computing Market is expected to grow at a steady pace in the forecast period and clock a market value of USD 198.09 Billion in 2028 at a CAGR of 36.86% during this period. Everything will be driven by the rapid processing power of edge devices, including remote work and commutes to the workplace. Edge computing and 5G are making a world of new income opportunities available in a variety of industries, including gaming, transportation, and manufacturing, among others.

The Global Edge Computing Market accounted for a market value of USD 22.85 billion in 2021. The expansion of the market is ascribed to the development of technology, the increase in business customers, large-scale expenditures, the expansion of BYOD (bring your own device) usage in contemporary workplaces, and the growing need for low-latency connection. Through the usage of edge computing, processing power is brought closer to the user. Edge computing is currently in great demand because companies want instantaneous processing for safe and robust operations, while customers desire decreased latency for real-time experiences.  In today's economy, businesses frequently strive to reduce the size of their internal data centers. In addition, they are considering implementing colocation facilities in order to have access to hardware and software vendors for on-demand capabilities, virtualized services, and security services.

The research is global in nature and covers a detailed analysis of the market in America (U.S., Canada, Mexico, Brazil, and the Rest of the Americas), Europe (Germany, France, United Kingdom, and the Rest of Europe), Asia-Pacific (China, Japan, South Korea, Rest of Asia-Pacific), and the Middle East and Africa. Additionally, the research report displays data including market size, yearly growth potential analysis, the competitive study of market players, investment opportunities, demand for future forecast, and so on.

Widespread Adoption of the Cloud and Growth of Latency-specific Applications

The capacity to merge many independent virtual computing components — CPU, network, storage, and memory — onto a single physical platform is a defining characteristic of cloud computing services and infrastructure. With the assistance of virtualization, technology provides a robust framework for cloud computing settings, such as scalability and multi-tenancy, in which several users can simultaneously be serviced by the same software application.

Government organizations from the United States, Europe, and Australia are promoting the use of cloud computing services by businesses in order to boost productivity, innovation, and business agility throughout the digital economy. This in turn is further propelling growth in Global Edge Computing Market

The market has been assessed for the historical period of 2018-2021, the base year 2022, and the forecast period of 2023-2028. The companies profiled in the report include – Microsoft Corporation, SAP SE, Cisco Systems, Inc., Amazon.com, Inc., ABB, Huawei Technologies Co., Ltd., Rockwell Automation, Inc., Honeywell International Inc., General Electric Company, and Hewlett Packard Enterprise. The competitive landscape analyses include critical information such as a business overview, products and services, key financials, and recent events and developments. Overall, the report provides a detailed overview of the Global Edge Computing Market, which will assist industry consultants, equipment manufacturers, existing players looking for expansion opportunities, new players looking for opportunities, and other stakeholders in aligning their market-centric strategies with current and expected future trends.