Global Edge Computing Market to Grow at 17.8% CAGR by 2027
The global edge computing market is expected to grow at a compound annual growth rate (CAGR) of 17.8% between 2021 and 2027. Edge computing is a technology that processes data near the edge of the network, as opposed to a centralized location. The market for edge computing is expanding due to the growth of IoT devices and the need for real-time data processing. According to a recent market research report, the global edge computing market size was valued at USD 4.84 billion in 2020 and is projected to reach USD 14.31 billion by 2027. The report also suggests that the demand for edge computing will continue to grow as organizations adopt cloud computing and seek to minimize latency in data processing. The rise of edge computing can be attributed to the increasing use of IoT devices in industries such as manufacturing, healthcare, and retail. These devices generate vast amounts of data that need to be processed and analyzed in real-time to support operational decision-making. Edge comput...