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(Wireless-NewsWire.Com, June 17, 2022 ) According to research report Edge Computing Market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 19.0% during the forecast period, to reach USD 87.3 billion by 2026 from USD 36.5 billion in 2021. Growing adoption of IoT across industries, exponentially increasing data volumes and network traffic and rising demand for low-latency processing and real-time, automated decision-making solutions are the drivers of the market growth.
The major players have implemented various growth strategies to expand their global presence and increase their market shares. Key players such as Cisco, HPE, Huawei, IBM, Dell and Nokia have majorly adopted many growth strategies, such as new product launches, acquisitions, and partnerships, to expand their product portfolios and grow further in the edge computing market.
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Cisco has a strong product portfolio in the edge services category. The company has a strong partner network with offices across 450 locations across the globe. It holds a strong position in the edge computing market. The company is investing in R&D for growth and innovation. The company has a strong geographic presence and offering edge computing deployments in emerging markets such as India, China, and Brazil. The company’s strategy is to excel in the global market through strategic acquisitions and partnerships. For instance, Cisco and Schneider Electric partnered to deliver an edge computing solution. Schneider Electric integrated Ciscos new edge computing solution, HyperFlex Edge, within its 6U Wall Mount EcoStruxure Micro Data Center. Schneider Electrics 6U Wall Mount is designed for edge computing environments where space is at a premium and reliability is a must.
HPE has a strong global presence, brand name, and recognition in the edge computing market. It has a diversified product portfolio with customized solutions. HPE has a strong distribution network and partner ecosystem, which is expanding its business in emerging markets. It has a strong track record of innovating products and automation of activities to deliver high quality products. The company is highly focusing on acquisitions and partnerships to accelerate innovation through hybrid cloud solutions. For instance, the company announced the acquisition of Determined AI to utilize Determined AI innovative open-source AI training platform with its high-performance computing solutions to enable ML engineers to speed up the AI production time.
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Edge Computing Market with COVID-19 Impact Analysis, by Component (Hardware, Software, and Services), Application (Smart Cities, IIOT, Remote Monitoring), Organization Size (SMEs and Large Enterprises), Vertical, and Region - Global Forecast to 2026
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