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Edge Computing Market Trends

Report ID: GMI5275
Published Date: Jun 2024
Report Format: PDF

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Edge Computing Market Trends

The edge computing industry has made significant technological strides in recent years. Advanced edge computing platforms now support faster and more efficient data processing at or near the data source, enabling real-time decision-making across diverse sectors. These developments have improved latency, reduced operational costs, and enhanced capabilities in industries such as manufacturing, healthcare, and logistics.

Innovations in edge computing hardware, including compact yet powerful edge servers and IoT devices, facilitate seamless integration into existing infrastructures, enabling businesses to deploy edge computing solutions for improved efficiency and scalability. Moreover, these advancements are reshaping how industries utilize data, driving the widespread adoption of edge computing solutions to achieve competitive advantages in today's digital landscape.

For instance, in March 2023, FedEx implemented edge computing solutions to optimize its supply chain operations. By deploying edge servers directly at its distribution centers, FedEx significantly reduced latency in data processing for real-time inventory management software and route optimization. This enabled the company to enhance delivery efficiency, reduce operational costs, and improve customer satisfaction by ensuring timely deliveries even during peak periods. The use of edge computing technology allowed FedEx to achieve these benefits without relying solely on centralized cloud services, demonstrating the practical advantages of edge computing in enhancing operational agility and performance in logistics operations.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of edge computing reached USD 13.4 billion in 2023 and will witness 28% CAGR between 2024 and 2032, due to the increasing need for real-time data processing and analysis in various industries such as manufacturing, healthcare, and retail.

The hardware segment will record USD 50 billion by 2032, driven by the growing demand for robust and efficient edge devices, such as gateways, sensors, and edge servers.

North America market registered 34% share in 2023, attributed to the region's robust IT and telecommunications sector, advanced technological infrastructure and early adoption of IoT and AI technologies.

Prominent players operating in the industry are Amazon, Cisco Systems, Inc., Dell Technologies Inc., Microsoft Corporation, Oracle Corporation, Google Inc., HPE, Huawei Technologies Co., Ltd., IBM Corporation, and Intel Corporation, among others.