The global edge computing market is expected to grow to $3.24bn by 2025, according to a report by Million Insights. The adoption of intelligent devices such as smart glasses, watches and TVs is responsible for the market's rapid growth, alongside the increase in the number of web users and widespread digitization. It is predicted to grow at a CAGR of 41% during the forecast period.
According to Million Insights, "Higher consummation of data services is likely to spur edge computing industry expansion with increase in the adoption of edge computing as a service".
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The adoption of the edge allows users to process data generated by Internet of Things (IoT) devices, rather than transmitting data across long-distant data centers or cloud servers to be processed. Adopting it at close proximity of the network infrastructure allows organizations to analyze crucial data set in real time. This means they are able to improve the efficiency of the decision-making algorithm, maximizing their profit margin.
The North American and Asia-Pacific regions are both predicted to hold the major market share in the edge computing industry, as massive growth is expected in the forecast period, reflecting the recent boom in the adoption of IoT devices in both areas.