Edge Computing Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The Edge Computing Market was valued at USD 5242.90 million in 2021 and is expected to register a CAGR of 44.90% over the forecast period (2022 - 2027). The increasing adoption of IoT is augmented by 5G operations, primarily driving the growth of the market studied. A significant share of industrial IoT service providers and aggregators are offering 5G capable network offerings that are expected to adopt edge computing over the coming years for handling the sheer amount of data.
Key HighlightsThe edge computing market is fragmented and competitive in nature. Currently, the market is dominated by cloud-based IoT vendors, such as Dell, Microsoft, Amazon, and Google. Companies like GE, which have the expertise of delivering edge computing solutions across different industries, including aerospace or manufacturing, also have significant market positions. Acquisitions, partnerships with industry participants, and new product/service rollouts have been the vendors' key competitive strategies. Some of the recent developments in the market are:
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