According to a new market research report published by Credence Research “Edge Computing Market(by Technology – Mobile Edge Computing and Fog Computing; by Deployment – On-premise Deployment and Cloud Deployment; by Component – Hardware, Software and Service; by Application – Internet of Things (IoT), Advanced Analytics, Data Monitoring and Data Catching; by End-use – Industrial, Healthcare, Automotive, Surveillance, Retail, Utilities and Others) Market – Growth, Future Prospects, and Competitive Analysis, 2018 – 2026”, the global edge computing market hit the value of US$ 3.11 Bn in 2017 and expected to witness immense CAGR of 14.82% across the forecast period through 2018 to 2026.
Edge computing is one of the most significant technology disruptions building upon and exceeding the massive transformation of public cloud. Potential of edge computing is fueled by the looming impact of 5G networks, unprecedented growth of data and rising importance of latency reduction & regulation in dealing with data. Edge computing establishes high-performance network, compute and storage resources as close as possible to end users and devices. Similarly, edge computing has potential to improve performance, reliability, scalability and regulatory compliance for several critical application. With this functionality, edge computing lowers the cost of data transport and decrease latency.
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Overall edge computing market is segmented on the basis of technology, deployment, component, application, and end use. Edge computing market is primarily commanded by the fog computing as it offers elastic resources at the edge of network. The modern trend of computing model is to thrust elastic resources such as storage and computation to the edge of networks, which stimulates the promising computing model of fog computing. As a result of occurrence of universally connected smart devices depending on cloud services trend is set to remain constant throughout the forecast period. Fog computing technology places computation and data near to end users at the edge of network and provides new array of applications and services with high bandwidth, low latency and location-awareness.
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Several commercial vendors have taken initial steps by realizing potential of edge computing using software solutions. For instance, solution15 software of Nokia for mobile edge computing (MEC) focuses to enable base station for edge computing. Further, Cisco’s IOx16 offers execution environment for integrated service routers. Critical area in software space tend to develop solutions that are portable across different environments. Organizations are heavily investing for research process to upgrade the resources of edge nodes to support general purpose computing. Such as, Intel’s Smart Cell Platform17 uses virtualization for supporting additional workloads. Thus, concept of Edge computing is predicated to moving part of this computational load towards edge of the network to reach computational abilities that are presently untapped in edge nodes, such as routers, switches and base stations. Growing investment in Edge computing by industry leaders to realize the several untapped opportunities, expected to drive the Edge computing market growth with promising rate across the forecast period.
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Technology Type Segment (2016–2026; US$ Bn)
- Mobile Edge Computing
- Fog Computing
Deployment Model Segment (2016–2026; US$ Bn)
- On-premise Deployment
- Cloud Deployment
Component Type Segment (2016–2026; US$ Bn)
Application Type Segment (2016–2026; US$ Bn)
- Internet of Things (IoT)
- Advanced Analytics
- Data Monitoring
- Data Capturing
End-user Segment (2016–2026; US$ Bn)
- Others (Smart Cities, Wearables, etc.)
- North America
- Asia Pacific
- Middle East & Africa (MEA)
- Latin America
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