Edge Computing Market: Energy and Utility Segment is Expected to Generate Revenues at an Astounding 29% CAGR by 2031 End

Posted on 2022-02-17 by Future Market Insights, Inc in Internet & Online // 0 Comments

ICT companies are extensively adopting technologies such as cloud computing and artificial intelligence to ensure seamless operations as teams continue working from home. Focus on fast automation, use of real-time operation within various end-use sectors such as automotive, food & beverage and others will provide stimulus to the growth.

The report offers actionable and valuable market insights of Edge Computing. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Edge Computing Market across various industries and regions.

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The edge computing market is likely to garner a market value of US$ 5 Bn in 2022, anticipated to register a positive CAGR of 30% in the forecast period 2022-2032 and reach a value of US$ 69 Bn.

Edge Computing Market Size (2022)	US$ 5 Bn
Sales Forecast for edge computing (2032)	US$ 69 Bn
Global Market Growth Rate (2022 to 2032)	30.01% CAGR

The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Edge Computing market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Edge Computing

Edge computing market report by Fact.MR

This newly published and insightful report sheds light on Market Insights of Edge Computing, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Edge Computing Market.

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Key Market Segments in Edge Computing Industry Research

By Component
- Edge Computing Hardware
  - Edge Nodes/Gateways (Servers)
  - Sensors/Routers
  - Others
- Edge Computing Software
- Edge Computing Services
- Edge-Managed Platform
By Application
- Edge Computing for Energy & Utilities
- Edge Computing for Industrial Applications
- Edge Computing for Transportation & Logistics
- Edge Computing for Smart Cities, Smart Homes, Smart Buildings
- Edge Computing for Healthcare
- Edge Computing for Agriculture
- Edge Computing for Retail
- Edge Computing for Datacenters
- Edge Computing for Other Applications

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Key Takeaways from the Market Study

Global market for edge computing to reach US$ 5 Bn by 2022-end
North America leads global sales with 46% share of the total market value.
South Asia & Oceania offers the most lucrative opportunities with the highest double-digit growth rate of 32% during the forecast period.
Energy & utilities account for the largest share of the market value. The 18% share can be accredited to cost efficiency and enhanced control over energy grids offered by edge computing products.
Datacenters are the most financially rewarding application segment with a meteoric 32.5% CAGR through 2032.
Hardware is the most selling component segment with more than 46% share of the total market revenue.
Edge computing services offer the most remunerative opportunities with a stupendous 31.5% CAGR during the projection period.

Rapid technological advancements across multiple industries is necessitating the need for rapid data transmission and assimilation to arrive at timely conclusions. Furthermore, there is a need to streamline workflows, all of which are expected to contribute majorly to the growth of edge computing, remarks a Fact.MR analyst.

Competitive Landscape

The competitive landscape of the edge computing market is shaped by product innovation and strategic mergers & acquisitions. Cisco Systems, Inc., Microsoft Corporation, Amazon Web Services (AWS), Inc., Moxa Inc., NVIDIA Corporation, and Belden Inc. are some prominent manufacturers of edge computing.

In January 2022, Amazon Web Services (AWS) announced the general availability of its new Amazon Elastic Compute Cloud (Amazon EC2) Hpc6a instances. These “purpose-built” EC2 instances leverage 3rd Gen AMD EPYC CPUs to process high-performance computing (HPC) workloads at what Amazon claims.
In November 2021, Kyndryl announced a landmark global strategic partnership that will combine its market-leading capabilities in the service of enterprise customers. The deal with Microsoft is Kyndryl’s first since recently becoming an independent public company and provides incremental multi-billion dollar revenue opportunities for the two companies.

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Market Survey of Edge Computing

More Valuable Insights on Edge Computing Market

Fact.MR, in its new report, offers an unbiased Market Analysis of Edge Computing, Sales and Demand of Edge Computing, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.

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Key Market Segments in Edge Computing Industry Research

By Component

By Application

Key Takeaways from the Market Study

Competitive Landscape

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