Edge Computing Market worth $110.6 billion by 2029, growing at a CAGR of 13.0%: Report by MarketsandMarkets™

/EIN News/ -- Chicago, April 30, 2024 (GLOBE NEWSWIRE) -- The global Edge Computing Market size is expected to grow from USD 60.0 billion in 2024 to USD 110.6 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 13.0% during the forecast period, according to a new report by MarketsandMarkets™. The surge in adoption and practice of IoT across industries irrespective of enterprise sizes, strict compliance and adherence to government regulatory requirements, and integration of AI/ML that significantly leverage(s) global Edge computing market are some of the key driving factors that foster Edge computing market growth.

Browse in-depth TOC on "Edge Computing Market"

250 - Tables
60 - Figures
210 - Pages

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=133384090

Edge Computing Market Dynamics:

Drivers:

• AI/ML integration with edge computing enables real-time data analytics and decision-making at the network edge.
• Integration drives the edge computing market by facilitating real-time analysis and decision-making.
• It reduces the need for extensive data transmission to centralized servers, cutting latency and improving efficiency.

Restraints:

• Edge computing implementation demands significant infrastructure investment in devices, networking, and management systems.
• Challenges include managing edge devices, networking components, and systems.
• This complexity is a limiting factor for global market adoption.

Opportunities:

• Customizing edge computing solutions for different industries offers substantial growth opportunities.
• In healthcare, it supports remote patient monitoring and real-time data analysis.
• Meeting industry needs unlocks new adoption avenues and drives innovation in the market.

List of Key Players in Edge Computing Market:

• IBM (US)
• Microsoft (US)
• HPE (US)
• Google (US)
• Dell Technologies (US)
• NVIDIA (US)
• AWS (US)
• Cisco (US)

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=133384090

Based on Services, the Professional services segment will record a higher CAGR during the forecast period.

Professional services play a crucial role in the edge computing market, offering specialized expertise and support to organizations implementing edge solutions. These services encompass consulting, implementation, support & maintenance, enabling seamless adoption and operation of edge computing infrastructure. By leveraging professional services, businesses can effectively design tailored edge architectures, optimize performance, and address specific use case requirements. Additionally, expert guidance ensures smooth deployment and integration with existing systems, enhances operational efficiency and reduces downtime. Overall, professional services empower organizations to maximize the benefits of edge computing, accelerate innovation, and stay ahead in today's competitive landscape.

By Organization size, SMEs will hold a higher CAGR Enterprise video market share during the forecast period.

In recent years, Small and Medium Enterprises (SMEs) have increasingly turned to edge computing solutions to enhance their operations. Edge computing allows SMEs to leverage real-time data processing and analytics capabilities without large-scale infrastructure investments. By deploying edge computing solutions, SMEs can achieve improved efficiency, agility, and cost-effectiveness in their operations. Moreover, edge computing enables SMEs to address data security and privacy concerns by processing sensitive information locally, closer to the data source. As edge computing technology evolves, SMEs are expected to increasingly adopt these solutions to stay competitive in their respective markets and drive innovation in their business processes.

Inquire Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=133384090

By Verticals, the Manufacturing industry will record the highest CAGR during the forecast period.

The manufacturing industry has experienced a significant transformation by adopting edge computing technology. Manufacturers can process and analyze large volumes of data generated by IoT sensors and devices in real-time by deploying edge computing solutions. This enables them to optimize production processes, enhance quality control, and improve operational efficiency. Edge computing also facilitates predictive maintenance, allowing manufacturers to identify and address equipment issues before they cause costly downtime. Additionally, edge computing enables manufacturers to leverage advanced analytics and machine learning algorithms to gain valuable insights from their data, leading to better decision-making and innovation. As a result, the manufacturing industry is experiencing accelerated growth and digital transformation, driving increased productivity and competitiveness in the market.

Browse Adjacent Markets: Information Security Market Research Reports & Consulting

Related Reports:

Facial Recognition Market - Global Forecast to 2028

Mobile Application Security Testing Market - Global Forecast to 2028

Penetration Testing Market - Global Forecast to 2029

Exposure Management Market - Global Forecast to 2029

Identity Verification Market - Global Forecast to 2028

About MarketsandMarkets™
                    
                    MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
                    
                    MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
                    
                    Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
                    
                    The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
                    
                    Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
                    
                    To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
                    
                    Contact:
                    Mr. Aashish Mehra
                    MarketsandMarkets™ INC.
                    630 Dundee Road
                    Suite 430
                    Northbrook, IL 60062
                    USA: +1-888-600-6441
                    Email: sales@marketsandmarkets.com