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According to the estimates by IMARC Group, the global edge computing market is expected to witness a CAGR of 30% from 2021 to 2026.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations. This has resulted in the rising adoption of remote working models across diverse industries, thereby propelling the demand for edge computing.
Rapid digitization across diverse industries has led to the extensive utilization of AI-integrated systems for analyzing large amounts of data and extracting insights, thereby driving the growth of global edge computing market.
The development of AI-powered industrial and surgical robots, along with increasing investments to improve the AI-based infrastructures, represent some of the key trends in the global edge computing market.
On the basis of the component, the market has been bifurcated into hardware, software, and services. Currently, hardware holds the largest market share.
On the basis of the organization size, the market has been classified into small and medium-sized enterprises (SMEs), and large enterprises. At present, large enterprises exhibit a clear dominance in the market.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where North America dominates the global market.
The key companies in the global edge computing market are Babcock & Wilcox Co., Covanta Energy Corp., SUEZ Environnement SA, Constructions Industrielles de la Méditerranée S.A, Gershman, Brickner & Bratton, Inc., EEW Energy from Waste GmbH, Martin GmbH, Wheelabrator Technologies Holdings Inc., and Novo Energy, LLC.
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