The advanced computing market is worth $ 87.3 billion by 2026
According to a new market research report “
Market with COVID-19 Impact Analysis, by Component (Hardware, Software, and Services), Application (Smart Cities, IIOT, Remote Monitoring), Organization Size (SMBs and Large Enterprises), Vertical and Region – Global Forecast until 2026 “,
published by MarketsandMarkets ™, the size of the Edge Computing market is expected to increase from $ 36.5 billion in 2021 to $ 87.3 billion by 2026, at a compound annual growth rate (CAGR) of 19.0% over the forecast period.
CHICAGO, 21 October 2021 The growing adoption of IoT across industries, the exponential increase in data volumes and network traffic, and the growing demand for low latency processing and real-time automated decision-making solutions are some of the factors driving the growth of edge computing.
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Adopting Edge Computing software can dramatically improve performance by reaching the next level of security, such as edge threat detection, data minimization, and decentralized infrastructure
Edge Computing software includes edge computing platforms and operating systems that enhance the computational capabilities of edge devices and data centers within the network infrastructure. These platforms control hardware functions, support data collection from assets, help monitor the status of remote assets, and help establish a network connection between edge devices and computing resources. The state-of-the-art computing platform also enables debugging and testing of data streams on remote data. Edge Computing software can dramatically improve performance by reaching the next level of security, such as edge threat detection, data minimization, and decentralized infrastructure.
Industrial IoT combines real-time processing, hardware optimization capabilities, and ubiquitous connectivity for IoT systems to maximize machine efficiency and throughput of the entire process.
Edge Computing is one of the essential components of the industrial Internet of Things. It plays an important role in accelerating the journey towards adoption of Industry 4.0. For a device deployed in an IIoT environment, an edge computing platform must be integrated with different resources from the data center to the cloud. IIoT represents a wide variety of IoT applications in the industrial sector, including intelligent robotics, remote diagnostics, asset optimization, connected manufacturing and product integration, and intelligent construction. Industrial IoT combines real-time processing, hardware optimization capabilities, and ubiquitous connectivity for IoT systems to maximize machine efficiency and throughput of the entire process. Smart robotics, remote diagnostics, asset optimization, connected product integration, and smart construction applications will drive adoption of advanced computing in various industries as it combines real-time processing, Hardware optimization capabilities and ubiquitous connectivity for IoT systems to maximize machine efficiency and throughput of the entire process. By integrating advanced computing into IIoT processes, companies could improve network communication and cooperative coordination with the cloud connected to the system. Thus, the proliferation of IIoT devices makes it easier to deploy advanced computing functionality to end-user locations, as these devices are equipped with processing units that can support cutting-edge technology.
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Small and Medium-Sized Businesses Choose Cutting-Edge Computing Because of Its Ease of Use and Improved Scalability
The extremely competitive market scenario has encouraged SMEs to invest in cutting edge IT solutions to reach their desired target audience. Strategizing content marketing initiatives is difficult for startups that don’t have an established customer base. Small businesses in the UK are lagging behind when it comes to adopting new technology. According to a VOLTA data center survey, 38% of small businesses use advanced computer technology compared to large businesses where it is 60%. Various leading companies, such as AWS and TIBCO, have introduced advanced lightweight IT solutions to help automate data analysis with the benefits of rapid implementation at a lower infrastructure cost. With the growing awareness of the benefits of advanced computing, the growth of the advanced computing market may be high among SMEs in the future.
With the growing number of IoT sensors in factories, manufacturers have started to realize industrial automation and manufacturing efficiency.
IoT-enabled manufacturing requires the construction and maintenance of large-capacity data centers for the storage, processing and analysis of the big data generated by the sensors. To overcome these problems, organizations are rapidly implementing advanced computing with smart manufacturing. Along with localized processing, edge computing also offers cost-effective ways to perform remote monitoring and strengthen disaster recovery strategies.
Additionally, advanced computing enables data collection and analysis closer to detection and action points, which helps businesses reduce unplanned downtime issues and improve operational efficiency. the production. In case of intermittent or weak connectivity, edge computing also ensures low latency and immediacy of the analysis.
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North America dominate the Edge Computing market in 2021
North America is one of the most technologically advanced regions in the world. It includes the United States and Canada and accounts for the largest share of the global edge computing market due to early adoption of US markets. The increased pace of digitization in SMEs across all verticals is driving the adoption of advanced IT. The region has a presence of large advanced IT vendors and customers, which is also driving the market growth in the region.
The increasing number of alliances and partnerships between advanced computing and other technology providers for technological innovations and continuous advancements in advanced computing have further contributed to the growth of the global computing market of point in North America. For example, SAS, an edge analytics solutions provider, and HPE, an edge IT infrastructure provider, have collaborated to launch comprehensive IoT analytics solutions. Likewise, Dell Technologies, an edge computing infrastructure provider, and AT&T, a telecommunications company, have also collaborated to develop an open source and 5G edge computing software infrastructure. IoT is all the rage North America; With more IoT devices connected, the regional market has seen wider adoption of advanced IT solutions across all verticals. The presence of connectivity networks will act as a determining factor in facilitating the adoption of advanced computing. The average number of digital devices available to citizens is increasing exponentially. People are better connected through improved access to brand and content. Gaming and e-commerce markets are booming in this region. This would expand the possibilities of advanced computing.
The Edge computing market is dominated by companies such as Cisco (US), HPE (US), Huawei (China), IBM (United States), Dell Technologies (United States), Nokia (Finland), Litmus Automation (United States), AWS (United States), Foghorn (US), Microsoft (US), VMWare (US), SixSq (Switzerland), EdgeIQ (United States), Saguna (Israel), and Vapor IO (United States). These suppliers have a large customer base and a strong geographic footprint as well as organized distribution channels, which helps them to increase their revenues.
Browse adjacent markets: Cloud Computing Market Research Reports & Consulting
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