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  • Edge as a Service Market Size Projected to Reach $31.93 Billion by 2026

    (I-SoftwareNews.Com, January 30, 2022 ) Edge as a Service Market size is projected to reach $31.93 billion by 2026, and it is estimated to grow at CAGR 38.4% during 2021-2026. With the increasing penetration of digital age technologies such as Multi-access Edge Computing, Artificial Intelligence (AI), big data and analysis, Machine Learning (ML), the demand for Edge as a Service is estimated to gain a huge traction during 2021-2026. Increasing investment towards virtualization of network and growing demand for smart cities and connected factories have significantly triggered market growth. Increasing demand for content delivery network, distributed cloud system is augmenting the Edge as a Service Market. The growing adoption of Edge as a Service enabling real-time data analysis close to the point of data generation enhancing reliability for low latency applications rather than relying on cloud infrastructure is set to drive the market between 2021 and 2026. The increasing demand for deployment of 5G connection is analyzed to boost the market during the forecast period 2021-2026. According to a survey, by 2024 enterprises will triple the amount of data storage at edge, which is analyzed to accelerate the market growth during 2021-2026.

    Edge as a Service Market Segment Analysis- By Organization size

    By organization size, Edge as a Service Market has been segmented under large enterprises and SMEs. Large enterprises dominated the market acquiring a share of 67% in 2020 and is estimated to hold the major share with a CAGR of 8.56% during 2021-2026 owing to the increasing transition towards digitalization. The large enterprises generate a larger volume of data from connected devices and the growing demand for data storage and computation closer to the data sources to minimize downtime is analyzed to drive the market. The SMEs are estimated to be the fastest growing market with a CAGR 11.84% during the forecast period 2021-2026. Increasing adoption of cost effective IoT solutions for autonomous data analysis across small enterprises are set to drive the market during 2021-2026.

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    Edge as a Service Market Segment Analysis- By End User

    By end user, Edge as a Service Market has been segmented under industrial and commercial sector. Industrial sector is anticipated to dominate the market during 2021-2026 with a CAGR 9.78% due to massive penetration of edge computing in business organizations. Among industrial sector, Telecommunication sector held the largest market share of 12.35% in 2020 and is estimated to dominate the market with a CAGR 11.67% during 2021-2026 owing to increasing convergence of Telecom sector with digitalization. Increasing investments towards cloud radio access network (C-RAN), fixed satellite services by communication service providers is estimated to propel the growth of Edge as a Service Market during 2021-2026. Smart logistics and Warehouses are analyzed to be the fastest growing market with a CAGR 12.78% during the forecast period 2021-2026. Integration of Augmented and Virtual Reality, Block-chain technology, Natural Language Processing with E-Commerce sector has significantly triggered the market. For instance, In January 2021, SK Telecom launched 5G edge service through a tie-up with Amazon Web Services (AWS) to build low latency applications. Such developments are analyzed to boost the market.

    Edge as a Service Market Segment Analysis- By Geography

    By geography, Edge as a Service Market has been segmented under North America, Europe, North America dominated the Edge as a service market in 2020acquiring a share of 33% and is estimated to hold major share during 2021-2026 owing to well established industrial infrastructure and high investments towards up-gradation of new advanced technologies. APAC is estimated to be the fastest growing market during the forecast period 2021-2026 with a 14.35%, owing to rapid digitalization across industry verticals. South East Asia is analyzed to be the hot-zone for establishing domestic manufacturing hub during the forecast period 2021-2026and thus accelerating the market growth. Indian Government recently launched “Make in India” program to build best in class manufacturing infrastructure in the country. Such Government initiatives are estimated to boost the market in this region during the forecast period.

    Edge as a Service Market Drivers

    Increasing penetration of Smart Factories

    Increasing penetration of Industry 4.0 promotes the convergence of Information Technology (IT) with Operational Technology (OT) to increase flexibility, agility and efficiency in the production process through connected systems and sharing data. Growing demand for computation closer to the data sources such as the devices or the edge gateways for more real-time responses and latency-sensitive applications has significantly triggered the growth of the market. Increasing adoption of multi-access edge computing, fixed satellite services, C-RAN has also contributed to the growth of Edge as a Service market. Adoption of edge as a service is analyzed to be the accelerator of digital transformation across various industry verticals by leveraging sensors, Robotics, Artificial Intelligence. The demand for edge infrastructure is estimated to gain a huge traction during the forecast period owing to low latency, scalability and reliability while minimizing the dependency on cloud infrastructure which demands additional time and enhanced connectivity for real-time decision making. In November 2020, Telefonica announced the launch of Virtual Data Centre Edge Service which allows analysis and storage of data close to devices that generate it. In December 2020, Samsung Electronics announced the partnership with IBM to integrate edge computing in 5G network to digitalize production process across various industry verticals.

    Increasing adoption of autonomous and connected vehicles

    Increasing adoption of connected vehicles is set to drive the market during the forecast period 2021-2026owing to exponential data growth and real-time data handling in autonomous cars. Advancements in the vehicle to vehicle (V2V), vehicle to infrastructure (V2V), Vehicle to pedestrian (V2P) communications has resulted in latency-sensitive, real-time applications such as rash driving monitoring, vehicle health monitoring, driver monitoring, parking space detection. Growing demand for faster data processing and instantaneous reliable decision making for V2X communication is analyzed to significantly trigger the growth of the market during 2021-2026. In January 2020, Ericsson and Microsoft collaborated to provide edge platform for connected vehicles.

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    Edge as a Service Market Challenges

    Data Security issues

    Enterprises that adopt edge as a service face security and privacy issues. Enterprises hold confidential data, which needs to be protected to avoid data breaches and cyber-attacks. Adoption of third-party services leads to security concerns such as data leak, false data injection, or unauthorized access of data which can weaken business position, thereby hampering the adoption. However, significant investments in cyber security are set to offset this challenge and promote healthy growth during the later stages of the forecast period 2021-2026.

    Edge as a Service Market Landscape

    Product innovation, Acquisitions, Collaboration, and R&D activities are key strategies adopted by players in the Edge as a service market. Edge as a service top 10 companies include Cognizant Technology Solutions, Rigado Inc., Cisco Systems Inc., General Electric company, Microsoft corporation, Intel Corporation, IBM Corporation, Huawei Technologies Pvt Ltd., Siemens AG, Fujitsu Ltd., Schneider Electric SE, and others

    Acquisitions/Product innovation

    In December 2020, Vodafone in a partnership with Amazon Web Services launched its first commercial Multi-access Edge Computing (MEC) Centre in London.

    In July 2019, AT&T and Microsoft Corporation announced their strategic alliance to work on the Edge platforms.

    Related Reports:

    A. Edge Computing Market

    B. Edge Analytics Market

    For more Information and Communications Technology Market related reports, please click here

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    Venkat Reddy

    (+1) 970-236-3677

    Source: EmailWire.Com


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