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

Rockville, United States, 2022-Sep-01 — /EPR Network/ —

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 Software. 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 Software Market across various industries and regions.

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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 Software 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 Software

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

The global edge computing market will multiply 13.7X from its current value during the forecast period (2020 – 2030). The adoption of Multi-access Edge Computing Software (MEC) by telecom companies will generate profitable opportunities for edge computing market leaders. As telecom companies look to enhance the performance speed of mobile applications, edge computing products will witness a steep rise in demand. Benefits of multi-access edge computing, such as reduced network congestion are primary drivers of growth.

Edge computing products facilitate enhanced processing power and data transmission between connected devices. Shift in consumer preference for smart devices over conventional vehicles, and homes drives the demand for edge computing components such as services, software, and edge-managed platforms. Industrial automation trends that employ artificial intelligence (AI), and machine learning (ML) to curb costs and increase production capacities also contributes to growth.

The global edge computing market exhibits a skyrocketing growth trajectory with 30% CAGR during the forecast period (2020 – 2030). Edge computing sensors, and routers act as input mechanisms for industrial automation. When combined with edge-managed platforms, organizations can remotely monitor, and control production processes. Market players are investing in expanding their global footprint in high-growth regions such as East Asia.

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Key Takeaways of Edge Computing Software Market Study

  • North America leads global sales with 46% share of the total market value. Presence of prominent edge computing companies in the US are primary drivers of growth for market players.
  • South Asia & Oceania offers the most lucrative opportunities with the highest double-digit growth rate of 32% during the forecast period. Surge in economic digitization of countries such as Indonesia, Singapore, and Malaysia is pushing the adoption of edge computing in this region.
  • Energy & utilities accounts 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 is the most financially rewarding application segment with a meteoric 32.5% CAGR through 2030. Innovation in infrastructure and data transmission models drive the demand from this application segment.
  • Hardware is the most selling component segment with more than 46% share of the total market revenue. Surging adoption of AI, ML, and the Internet of Things (IoT) furthers the demand for hardware components such as edge nodes, sensors, and routers.
  • Edge computing services offer the most remunerative opportunities with a stupendous 31.5% CAGR during the projection period. Disruptive start-ups working on AI, ML, and IoT leverage the cost efficiency of edge computing services over buying hardware. This is a major driver for growth of this component segment.

Digital Transformation Due to COVID-19 Lockdowns- Key Growth Factor

Workforces across industries and companies are adopting digital methods of collaboration due to the COVID-19 pandemic. This has led to a surge in demand for edge computing capabilities by IT companies that offer collaboration products. Google LLC, Zoom Video Communications, and Datacenter providers are some examples of edge computing. As the user counts increase, so will the need for enhanced edge computing. For instance, Zoom Video Communications has been buying servers across the world to increase its user capacity. The company has witnessed a huge uptake in user counts since nationwide lockdowns were imposed to contain the spread of COVID-19.

Similarly, Google LLC is increasing its processing power to facilitate the use of its products such as Hangouts, Google Classrooms, and Google Business. The trend of digital transformation among organizations and consumers alike, presents exponential growth opportunities for market players. Further, it is expected that once on-board, users of edge computing will realize the benefits of the varied range of products and continue to generate demand during the forecast period.

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Edge computing market report by Fact.MR

Global Edge Computing Software Market: In-Depth Assessment on Key Segments

The global edge computing market is segmented on the basis of component, application, and region.

Component

  • Hardware
  • Edge Nodes/Gateways (Servers)
  • Sensors/Routers
  • Others
  • Software
  • Services
  • Edge-Managed Platform

Application

  • Energy & Utilities
  • Industrial
  • Transportation & Logistics
  • Smart Cities, Smart Homes, Smart Buildings
  • Healthcare
  • Agriculture
  • Retail
  • Datacenters
  • Others

Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa

This taxonomy and the detailed TOC prepared are confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than the addressee(s) is unauthorized and prohibited.

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  • Sales and Demand of Edge Computing Software
  • Growth of Edge Computing Software Market
  • Market Analysis of Edge Computing Software
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  • Key Drivers Impacting the Edge Computing Software market
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  • Restraints Shaping Market Growth
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More Valuable Insights on Edge Computing Software Market

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

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