In the world, that is moving on advanced technological changes and an environment of internet of things is pushing the pushing boundaries of computing applications. Data and services have outgrown the computing applications from centralized nodes to the logical extent of a network to reach the physical world. It enables analytics and data gathering to occur at the source of the data. This approach needs leveraging resources that may not be constantly connected to a network such as smartphones, laptops, tablets and sensors.
The demand for edge computing is rising significantly to meet the challenges arising from the extreme use of traditional cloud computing architecture. Owing the mounting demand, Transparency Market Research has analyzed the global edge computing market, which is expected to rise at 10.7% of CAGR during the forecast period between 2017 and 2022. This global market was worth US$8.02 in 2017 and is projected to reach U$13.31 bn by the end of 2022.
What Are The Key Factors Associated In The Growth Of The Global Edge Computing Market?
The need for edge computing is seen in situations where there is poor connectivity of internet of things (IoT) devices and where the IoT devices are not connected seamlessly to a central cloud. Moreover, factors such as low spectral efficiency, high latency, and non-adaptive machine type of communication are several challenges faced by cloud computing architecture and making possibility to adopt edge-computing framework.
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Additionally, adopting edge computing also gives economic benefits to various organizations using IoT services and devices extensively. Incorporating edge computing helps in scrutinizing and processing data close to the edge network where it helps organizations crucially analyze data in real time.
For instance, a London based startup, Ori has enabled on-demand mobile edge computing platform. This will help developers to install edge-powered applications over mobile networks, expanding revenue streams and commercial opportunities for mobile operators.