The global edge computing hardware market is expected to grow at a significant CAGR during the forecast period (2024-2031). Edge computing refers to the distributed computing paradigm, which is mostly used to bring computing and data storage closer to the location, to improve the response time. The analysis tools used across industries are beginning to drive new levels of performance and productivity. Therefore, the distributed computing paradigm, called edge computing, is gaining traction.
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Although the adoption is presently not common, over the forecast period, some large enterprises, especially across industries, such as telecom and manufacturing, are expected to use edge computing, especially with IoT. With more than 50 billion connected devices, Huawei predicts that, by 2020, over 50% of data may be analyzed, processed, and stored in the network edge.
The global edge computing hardware market analysis includes some of the key market players such as Microsoft Corporation, Google LLC (Coral.AI), FogHorn Systems, Huawei Technologies Co. Limited, and Cisco Systems Inc. among others. To maintain a strong position in the market, these market players are adopting various strategic moves, such as product launches, partnerships, collaborations, and mergers and acquisitions.
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Recent Developments:
- In March 2020, Google Cloud and AT&T announced a collaboration to help enterprises take advantage of Google Cloud’s technologies and capabilities using AT&T network connectivity at the edge, including 5G. These edge computing solutions will be powered by AT&T’s network and will utilize Google Cloud’s core capabilities in Kubernetes, Artificial Intelligence (AI), and machine learning (ML). By bringing Google Cloud’s compute and capabilities to the edge, businesses can achieve the goal of proximity to the customers.
- In March 2020, Microsoft announced the acquisition of Affirmed Networks, which is a startup that offers fully virtualized cloud-native mobile network solutions. Microsoft wants to integrate Affirmed Networks’ technology into Microsoft Azure to let the telecommunications industry deploy and maintain 5G networks via Azure Edge Zones, which is a newly developed solution based on edge computing.
Market Coverage
- Segment Covered
o By Component
o By Application
o By Organization Size
o By Vertical
- Competitive Landscape: Microsoft Corporation, Google LLC (Coral.AI), FogHorn Systems, Huawei Technologies Co. Limited, and Cisco Systems Inc. among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Edge Computing Hardware Market by Segment
By Component
- Hardware
- Software
- Service
By Application
- Smart Cities
- IIOT
- Remote Monitoring
- Others
By Organization Size
- SMEs
- Large Enterprises
By Vertical
- Financial and Banking Industry
- Retail
- Healthcare and Life Sciences
- Industrial
- Energy and Utilities
- Telecommunications
- Others
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