Growth will be driven by the market becoming more diverse and competitive.
The sale of edge computing products, services and solutions will grow to reach $US17.8bn in 2025, up from an estimated $US8bn in 2019, at a compound annual growth (CAGR) rate of 15.6 per cent, according to GlobalData. The data and analytics company notes that growth will be driven by the market becoming more diverse and competitive.
In North America, sales of edge computing products, services and solutions will amount to $US6.85bn by 2025, which is equivalent to 38 per cent of the total global market. Sales in Asia Pacific and Western Europe will amount to US$4.65bn and $US3.39bn, respectively, equivalent to 26.4 per cent and 19.3 per cent of the total global market.
Chris Drake, Principal Analyst at GlobalData, comments: “The proliferation of products, services and solutions for edge computing is being driven by an interest in edge computing’s potential to enable a plethora of new applications. These include applications that leverage large amounts of data, and those that depend on real-time data processing capabilities, such as autonomous, driverless vehicles and virtual, augmented and mixed reality (VR, AR, XR) applications.”
The market for edge computing products, services and solutions already includes a diverse range of hardware, software, and converged infrastructure offerings. These have been specifically designed to process data collected by different types of edge device. They also include solutions that enable the development, management, and delivery of new kinds of digital applications. In addition, IT vendors and service providers offer a wide variety of migration, management, and support services to help enterprise customers deploy, maintain, and capitalise on edge opportunities.
Drake continues: “Edge computing opportunities are being targeted by IT infrastructure vendors, as well as telecoms network operators, cloud service providers, content delivery networks (CDNs), systems integrators and others.
“Some vendors and service providers offer solutions that are designed to support the edge computing requirements of specific verticals, for example manufacturing, energy or healthcare. Others offer generic solutions that are intended for a range of different use cases. Most IT vendors and service providers offer a choice of solutions, targeting different market opportunities.”