global edge computing market size was valued at $4.7 billion in 2020, and it predicts the market will expand at a compound annual growth rate (CAGR) of 38.4% between 2021 and 2028.

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State Of The IoT Edge Computing Market

In its edge computing market analysis report, Grandview Research estimates that the global edge computing market size was valued at $4.7 billion in 2020, and it predicts the market will expand at a compound annual growth rate (CAGR) of 38.4% between 2021 and 2028. 

Key Growth Drivers

Grandview Research points to the extensive range of stakeholders involved in IT infrastructure, including edge computing, as a key growth driver. To work well, edge computing requires a complex architecture of hardware, software, IoT device and sensor communications, and various service management providers. Each of these stakeholders has a vested stake in the edge computing market and competes with one another to attract edge computing clients.

The IoT edge computing market also benefits from the global nature of modern business. To gain international market share, global companies are investing in edge computing to offer the same level of reliability and speed to international clients that they offer domestically. A domain host, for example, can significantly benefit from investing in edge computing services that eliminate the latency inherent to providing service across thousands of miles. Edge computing can lead directly to new lines of business and an increased operational footprint. 

Primary Industries

Prominent industries using IoT edge computing technology include:

·        Manufacturing

·        Construction

·        Retail

·        Health care

·        Utilities

·        Transportation 

·        Domain and website hosts

https://www.datamation.com/edge-computing/the-internet-of-things-iot-edge-computing-market/