The global edge computing market size is anticipated to reach USD 155.90 billion by 2030, exhibiting a CAGR of above 38.9% during the forecast period. Artificial Intelligence (AI) integration into the edge environment is projected to drive the market growth. An edge AI system is estimated to help businesses in making real-time decisions in milliseconds. The need to minimize privacy concerns associated with transmitting huge amounts of data, as well as latency and bandwidth issues that limit an organization’s data transmission capabilities, is projected to fuel market growth in coming years, according to Research and Markets.
Machinery control and precision monitoring are a few use cases that are well suited to using 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 the edge.
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 endpoint devices, including sensors, cameras, smartphones, and other IoT devices.
Moreover, the telecom edge is estimated to grow exponentially during the projected period. The telecom edge shall execute 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 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 cases investments. Edge computing is predicted to become more ubiquitous and evolve toward platform-centric solutions during 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.
Edge Computing Market Report Highlights
- During the projected period, the edge server 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 increase at a substantial CAGR due to the developing cellular network, which has offered 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 during the estimated period. This can be ascribed to the fact that edge datacenters overcome inconsistent connections and compute and store data close to the end-user..
- The Asia-Pacific region is anticipated to grow at the highest CAGR during 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..
- Some of the important market players are Cisco Systems, Inc., Honeywell International Inc., Amazon Web Services (AWS), Inc., Microsoft Corporation, Huawei Technologies Co., Ltd., and Siemens AG.