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Selbyville, Delaware, June 07, 2022 (GLOBE NEWSWIRE) --

Edge Computing Market is anticipated to cross USD 60 billion by 2030, according to the recent research study by Global Market Insights Inc.

Ongoing government initiatives to support the acceptance of cloud computing technology is driving the market growth. The governments of various countries, such as India, China, the U.S., and the UK, are embracing cloud technology to expand their e-governance initiatives.

The support and maintenance service segment accounted for around 60% of edge computing market share in 2021. The growth is driven by the growing need to manage & control the network infrastructure. Maintenance & support services help service providers and enterprise customers to update, consolidate & build dynamic networks to access edge solutions. It also helps businesses to provide quick remote responses for minimizing network interruptions.

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The remote monitoring sector is expected to showcase over 25% growth between 2022 and 2030 credited to the rising instances of cyber-attacks. Moreover, the urge to manage connected devices is creating ample growth opportunities for the edge computing market.

The large enterprises market dominated with about 80% revenue share in 2021. These enterprises are also witnessing network complexities and security concerns. In response, they are deploying advanced edge computing solutions to ensure resilience throughout network operations in order to help identifying the potential threats and mitigating the risks that affect business productivity.

The BFSI industry is projected to attain nearly 25% gains during 2022-2030 attributed to digitalization across the sector. Banking & financial service providers throughout the industry are expanding their networks to gain prospective customers. Companies are also required to deliver personalized services using advanced technologies to cater to all the branch locations. Financial institutions can benefit from advanced edge computing solutions to extend the existing infrastructure between administrative buildings and corporate branches.

Europe edge computing market is estimated to spur exponentially owing to the mounting adoption of advanced technologies and increasing demand for 5G networks. The penetration of 5G services and the growing remote workforce are driving the demand for NAC solutions.

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Companies operating in the market are developing advanced edge computing solutions & services for their customers. For instance, in January 2022, NTT Communication Corp. launched the SDPF edge. It is an edge computing service that is available for a monthly fee on NTTs smart data platform. It is specially designed for the manufacturing industry. It consists of various advanced features such as control & decision making, reduction in communication volume, effective management of co-operating tasks, and optimized data usage.

Some of the major findings of the edge computing market report include:

Partial Table of Contents (ToC) of the reportChapter 3Edge Computing Industry Insights

3.1 Introduction3.2 Impact of COVID-19 outbreak3.3 Impact of Russia-Ukraine war3.4 Edge computing architecture3.5 Edge computing ecosystem analysis3.6 Technology & innovation landscape3.7 Patent analysis3.8 Investment portfolio3.9 Regulatory landscape3.10 Industry impact forces3.10.1 Growth drivers3.10.1.1 Increasing adoption of IoT devices across various end-user verticals3.10.1.2 Rising investments in 5G network3.10.1.3 Rising adoption of autonomous vehicles3.10.1.4 Strong government support for promoting cloud adoption3.10.1.5 Growing popularity of private networks3.10.2 Industry Pitfalls and Challenges3.11 Growth potential analysis3.12 Porters Analysis3.13 PESTEL analysisBrowse Complete Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/edge-computing-market

About Global Market Insights Inc.

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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Edge Computing Market to hit USD 60 billion by 2030: Global Market Insights Inc. - GlobeNewswire