According to a research report “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″ published by MarketsandMarkets, The edge computing market size is expected to grow from USD 36.5 billion in 2021 to USD 87.3 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 19.0% during the forecast period. The 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 a few factors driving the growth of the edge computing.
Browse 252 market data Tables and 55 Figures spread through 239 Pages and in-depth TOC on “Edge Computing Market – Global Forecast to 2026”
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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.
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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The edge computing market is dominated by companies such as Cisco (US), HPE (US), Huawei (China), IBM (US), Dell Technologies (US), Nokia (Finland), Litmus Automation (US), AWS (US), Foghorn (US), Microsoft (US), VMWare (US), SixSq (Switzerland), EdgeIQ (US), Saguna (Isreal), and Vapour IO (US). These vendors have a large customer base and strong geographic footprint along with organized distribution channels, which helps them to increase revenues.
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