Edge computing is a revolutionary process to
optimize cloud computing systems. It primarily states to the technologies
enabling computation to be implemented at the edge of the network. The services
are performed on upstream data on behalf of IoT services and downstream data on
behalf of cloud services. Edge computing is responsible for supporting data
acquisition & control functions, applications closer to the end user and
storage of high bandwidth content. Edge sites are positioned as close as possible
to the end-users for instance a logical endpoint of a network as part of a more
widespread cloud computing architecture. However, the position of an edge for
IoT may change according to the service required by the end-users.
Edge computing solves latency challenges and
allow enterprises to take better advantage of opportunities leveraging a cloud
computing architecture. The computing provides shorter period of open
communication channels owing to improved latency allowing extended battery life
for battery-powered IoT devices. The computing also facilitates proficient data
management as data processing & data filtering can be performed at the edge
of the network, offering cleaner data sets for cloud-based data analytics.
According to study, “Europe
Edge Computing Market (2018-2023)” the key companies operating in the
Europe edge computing market are Cisco Systems, Inc., Google Inc., Microsoft
Corporation, IBM Corp., Amazon. The prominent companies keep innovating and
investing in research & development (R&D) to present a cost-effective
product portfolio. There has been recent mergers & acquisitions (M&A)
among the key players, an approach the business entities leverage to increase
their reach to the customers.
Based on component type, edge computing market
is segmented into solution and services (software and hardware). Based on
technology, market is segmented into fog computing and mobile edge computing.
Mobile edge computing is emerging as a favorable computing architecture for
telecom operators, system integrators and IT platform providers. The computing
adds computing capabilities and virtualization to a RAN. Based on type of
deployment, market is segmented into cloud deployment and on-premise
deployment. Based on organization size, market is segmented into large
enterprises and small & medium enterprises. Based on application, market is
segmented into connected cars, critical infrastructure monitoring, smart grids,
traffic management, augmented reality, assets tracking, environmental
monitoring, security & surveillance, and others. In addition, based on
end-use industries, market is segmented into energy & utilities,
healthcare, manufacturing, government & public sector, media &
entertainment, telecom & IT, transportation, retail, and others.
The edge computing market is driven by rise in
number of intelligent applications, followed by increase in load on the cloud
infrastructure, rise in digital industrialization and assistance for real-time
applications. However, higher maintenance costs, lack of technical skills and
more local hardware may impact the market. Moreover, numerous frameworks &
languages for IoT solution and advent of the 5G network are key opportunities
for market.
Based on regions, Europe edge computing market
is segmented into EU5 and the rest of EU5. The EU5 would secure the maximum
market share as countries like the France and UK are progressing swiftly with
smart & connected devices. It is anticipated that future of the market will
be bright due to tremendous increase in the number of intelligent applications
over the forecast period. It is projected that the market will be reached at US
$1.94 billion by 2023, expanding at a CAGR of 29.3%.
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