The industrial edge computing market size is estimated at USD 43.84 billion in the current year and is expected to reach USD 82.50 billion in the next five years, registering a CAGR of 13.48% during the forecast period.
Its fragmentation and competitive nature characterize the industrial edge computing market. Currently, key players dominating the market include Siemens, ZEDEDA, General Electric Company, and Rockwell Automation, among others. Companies like General Electric (GE), renowned for their expertise in delivering edge computing solutions across various industries, including aerospace and manufacturing, hold substantial market positions. These vendors employ key competitive strategies, such as acquisitions, partnerships with industry players, and the introduction of new products and services. Notable recent developments in the market include:
In November 2022, Rockwell Automation announced the development of an orchestration and intelligent edge management platform coupled with an edge application ecosystem. This initiative is based on open industry standards and zero trust security principles, aimed at accelerating the digital transformation journey for industrial customers. As industrial manufacturers increasingly embrace digital change, the company seeks to amplify digital transformation efforts through innovations in analytics, artificial intelligence (AI), Manufacturing Execution Systems (MES), and other technologies. This approach allows them to access real-time intelligence closer to the source of industrial data.
In August 2023, ABB made a strategic investment by partnering with Pratexo, a company specializing in edge-to-cloud acceleration platforms. This collaboration empowers ABB's customers to deploy edge-based networks and solution architectures that provide real-time insights. Importantly, it offers enhanced data privacy and security, reduces the volume of data transferred to the cloud, and enables operations even when disconnected from the internet. This strategic partnership represents a significant step in advancing edge computing solutions within the industrial sector.
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