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Edge-OPS Market Overview
The Global Edge-OPS Market size is estimated to reach US$9.8 billion by 2027, growing at a CAGR of 8.4% from 2022 to 2027. This growth is attributed to technological advancements, the introduction of 5G networks and the increased adoption of IoT in various technologies such as smart cities, Industry 4.0, connected cars and others as it provides reduced latency, lower processing times and other benefits. Additionally, the adoption of Artificial Intelligence and Machine Learning has also positively impacted the Edge-OPS Industry. The development of applications involving AI and ML has promoted the demand for localized computing, data storage in relational database management systems, data ingestion and network resources. As enterprises are embracing these new technologies, the need for data ingestion in real time has increased. These factors significantly boost the Edge-OPS Market size. Due to the seamless integration of real-time data through these edge-ops systems, the need for analyzing these imported data has become critical across all industry verticals for better operational efficiency and improved productivity. These factors are positively influencing the Edge-OPS Industry Outlook over the forecast period.
Report Coverage
The report: “Edge-OPS Industry Outlook – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the
Edge-OPS industry.
Key Takeaways
- In the Edge-OPS market report, the Hardware segment is analyzed to grow at a significant rate during the forecast period 2022-2027. This growth is driven by the growing deployment of IoT and IIoT-connected devices for better operational efficiency and increased productivity.
- By End-use Industry in the Edge-OPS Market report, the Industrial Manufacturing segment is expected to grow at the highest rate during the forecast period owing to factors such as technological advancements, increased IIoT connected devices and incorporation of Artificial Intelligence and Machine Learning in Edge-OPS processes.
- North American region had the largest share in the global Edge-OPS Market size, owing to factors such as the rise in usage of electronic and connected devices, the presence of major manufacturers and their continued investments for the betterment of Edge-OPS systems.
Edge-OPS Market Value Share, by Region, 2021 (%)
Edge-OPS
Market Segment Analysis- By Component
By Component, the Hardware segment in the Edge-OPS Market report
is analyzed to grow at the highest CAGR of 8.5% during the forecast period
2022-2027. This
growth is primarily fueled by the growing deployment of IoT and Industrial
Internet of Things (IIoT) devices. This growth allows businesses to analyze
relevant data after data ingestion for better operational efficiency as these
hardware systems are equipped with superior processors for real-time analysis. As
the volume of data generation is continuously increasing, the implementation of
edge-ops hardware equipment is becoming more relevant so that it can reduce the
load on cloud and relational database management systems. For instance, in
April 2021, Intel announced the launch of its 3rd Gen Intel Xeon
Scalable Processor which is integrated with AI for seamless integration of data
and advanced security capabilities. These new developments would continue to
boost the hardware segment in the Edge-OPS Industry.
Edge-OPS Market Segment Analysis - by End-use Industry
Based on End-use Industry, the Industrial Manufacturing segment in the Edge-OPS
Market report is analyzed to grow at the highest CAGR of 9.2% during the
forecast period 2022-2027. It is due to factors such as technological advancements,
increased adoption of IIoT-connected devices and adoption of AI and ML in both
data ingestion and analysis processes. Manufacturers are using Edge-OPS systems
in Industrial Manufacturing for localized processing which reduces latency
issues and enables smart and intelligent manufacturing through predictive
analysis. This can result in massive productivity gains in industrial
manufacturing. In June 2021, Cisco launched a new range of catalytic routers
embedded with 5G technology for industrial manufacturing which is analyzed to
expand the capacity of business networks with advanced security features. These
developments would boost the Industrial Manufacturing sector in the Edge-Ops
Market.
Edge-OPS Market Segment Analysis - by Geography
North America dominated the global market for Edge-OPS with a market share of 44% in 2021 and is also analyzed to have significant growth over the forecasting period. This growth is driven by the rise in usage of connected devices such as smartphones, tablets and iPad and the presence of major manufacturers and their continued investments for edge-enabled solutions. The convergence of IIoT and edge-ops is creating ideal conditions for firms in the U.S. to make the transition to connected factories. In May 2020, IBM Corporation and Red Hat Inc. launched new edge-ops systems such as IBM Edge Application Manager and IBM Telco Network Cloud Manager. The presence of such manufacturers and their continued investments would bolster North America’s presence in the Edge-OPS Market.
Edge-OPS
Market Drivers
Growth in the adoption of the Internet of Things
across all industry verticals:
The growing
adoption of IoT in various industries including automotive, manufacturing,
retail, transportation, energy and so on has been analyzed to drive market growth.
Organizations using IoT sensors are looking for edge-ops solutions as they provide real-time information, improve operational efficiency, optimization
in production and other benefits. Edge-ops systems supplement the existing cloud
paradigm by bringing data processing closer to the data source, allowing
organizations to make faster decisions. According to a report from Accenture,
IoT would add US$14.2 trillion to the global economy by 2030. These factors
would drive the adoption of Edge-ops systems and thereby positively influence
the Edge-OPS industry outlook.
The emergence of autonomous vehicles and connected car infrastructure:
Rising
consumer demand and various technological advancements have led to the
proliferation of autonomous and connected vehicles infrastructure. As edge-ops
systems make processing faster and closer to the source of data, there lie
significant opportunities for Edge-ops systems to support the evolution of
autonomous vehicles. In April 2021, Honda and Verizon announced a research
collaboration to test how new connected safety technology uses 5G and mobile
edge-ops solutions to ensure fast, reliable communication between road
infrastructure and vehicles in order to reduce traffic collisions. These
factors would continue to boost the Edge-Ops Market size over the forecast
period.
Edge-OPS Market Challenges
Data Security Concerns over the use of Edge-Ops Networks:
The growing adoption of IoT-connected devices is generating a large volume of data. This data is then stored in the relational database management systems. High volumes of user data generated by Edge-Ops devices may result in data theft by hackers and malicious individuals. Additionally, poorly configured cryptographic network protocols and DNS protocols make Edge-Ops networks susceptible to cyber-attacks. These factors act as a major hindrance to the Edge-Ops Market growth.
Edge-OPS Industry Outlook
Product launches, collaborations and
R&D activities are key strategies adopted by players in the Edge-OPS Market. The top 10 companies in the
- IBM Corporation
- Cisco Systems
- Amazon Web Services Inc
- Intel Corporation
- SAP SE
- Microsoft Corporation
- Nokia
- Verizon
- Dell Technologies
- EdgeIQ
Recent Developments
- In March 2022, IBM and Foghorn collaborated to develop an edge-ops integrated Artificial Intelligence. By combining edge and cloud capabilities, this AI is intended to assist customers through seamless integration of data processing, storing and analyzing. This is set to boost the company’s market share in the Edge-Ops Market size.
- In April 2021, Amazon Web Services and Verizon launched Verizon 5G Edge. By integrating AWS cloud services into Verizon’s 5G network, the cloud is brought closer to mobile end-users and connected devices, unlocking a wide range of transformative applications.
- In March 2021, Nokia launched Nokia Edge Automation which aimed to remove the complexity of multiple cloud-based relational database management systems by automating them through a unified platform. This is expected to increase the adoption of more edge-ops systems thereby boosting the Edge-OPS Market size.
Relevant Report Titles:
Report
Code: ITR 0124
Report
Code: ITR 0318
Report
Code: ITR 0257
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