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Edge as a Service Market worth $31.93 Billion by 2026 at a growth rate of 38.4% - IndustryARC

Edge as a Service Market

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Edge as a Service Market Drivers Increasing Adoption of Autonomous and Connected Vehicles

HYDERABAD, TELANGANA, INDIA, November 28, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that 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. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

Click here to browse the complete report summary:
https://www.industryarc.com/Report/19444/edge-as-a-service-market.html

Key takeaways:

1. Telecommunication sector is estimated to hold the largest market share of 12.35% with a CAGR 11.67% from 2021 to 2026 due to increasing integration of digitalization with telecom sector and increasing investments towards emerging technologies by communication service providers.

2. North America is estimated to dominate the market during 2021-2026 owing to early adoption of edge computing and high investments towards up-gradation of advanced technology.

3. Increasing penetration of smart cities, smart factories and rising penetration of autonomous cars are set to drive the market between 2021 and 2026.

4. Data security issues is one of the major challenges impede the market growth during 2021-2026.

Interested in knowing more relevant information? Click here:
https://www.industryarc.com/pdfdownload.php?id=19444

Segmental Analysis:

1. 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.

2. 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.

3. 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.

4. 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.

5. 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.

6. 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.

7. 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.

Competitive Landscape:

The top 5 players in the Edge as a Service industry are -

1. Cognizant Technology Solutions

2. Rigado Inc.

3.Cisco Systems Inc.

4. General Electric company

5. Microsoft corporation

Click on the following link to buy the Edge as a Service Market Report:
https://www.industryarc.com/reports/request-quote?id=19444

Why Choose IndustryARC?

IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.

Related Reports:

A. Edge Computing Market
https://www.industryarc.com/Report/17939/edge-computing-market.html

B. Edge Analytics Market
https://www.industryarc.com/Research/Edge-Analytics-Market-Research-500777

Contact Us:
Mr. Venkat Reddy
IndustryARC
Email: venkat@industryarc.com, sales@industryarc.com
USA: (+1) 970-236-3677, (+1) 815-656-4596
IND: (+91) 40-485-49062

Venkat Reddy
IndustryARC
+1 614-588-8538
venkat@industryarc.com
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