$9.8 billion rise from 2019 to 2024 fuelled by increasing demand to acquire real-time analysis of critical data at the Edge, for industries such as manufacturing, asset tracking and transportation
A new study from Juniper Research has found that total annual spend on Mobile Edge Computing (the collection and analysis of data at the source of generation, at the Edge of the network, instead of a centralised location such as the cloud), will reach $11.2 billion by 2024. This is up from an estimated $1.3 billion in 2019, with an average annual growth of 52.9%.
The Leaders in Edge Processing
Juniper Research ranked leading players in the Edge processing sector by a range of factors, such as the depth of their experience in IoT, their geographical footprint, along with the number, and type, of industries served. The top five players are:
Mobile Operators to support Edge Processing of 5G Applications
Juniper Research believes that mobile operators will play an important role in connecting Edge processing devices via 5G, particularly for smart city initiatives, due to the large numbers of device users they serve, as well as their ownership of mobile spectrum and local real estate assets.
Far East & China Accounts for Lion’s Share of $9.8 billion Increase
The new research, Edge Processing in IoT: Market Strategies, Challenges & Future Outlook, 2019-2024, forecasts that the annual spend on Edge processing in the Far East & China region will reach an estimated $4.6 billion in 2024; 41% of the global total spend. China’s three leading mobile operators have been conducting Edge processing pilots since 2017, while Huawei, Intel and Alibaba have collaborated to further Edge processing capabilities.
Research author, Elson Sutanto explains: “Edge Computing and 5G, supported by continued advancements in machine learning and AI-derived algorithms, will continue to be the key drivers of Big Data analytics and complex real-time analysis at the Edge of networks.”