The acceptance of the edge computing solutions among the great corporate is extraordinary due to the augmented generation of the data, which is accredited to the pervasive geographical existence and consumer base. Additionally, the growing requirement of the employees to admission computing resources and applications universally while safeguarding the proper data storage, fuels the requirement of edge computing solutions among the potential corporate. Aspects namely the effective growth in the adoption of Internet of Things (IoT) around the industries; growing requirement for the low-latency treating and real-time, automated decision-making solutions and a requirement for the surmounting exponentially growing data volumes and network traffic.
Furthermore, the appearance of the autonomous vehicles and connected car infrastructure, and the requirement for the lightweight frameworks and systems to improve the effectiveness of the edge computing solutions are predicted to generate the plentiful opportunities for edge computing merchants.
According to the report analysis, ‘Latin America Edge Computing Market (2018-2023)’ states that in the Latin America edge computing market, there are numerous key players which recently functioning more positively for leading the handsome value of market share and leading the fastest market growth during the short span of time while developing the specifications of the technologies, decreasing the issues of the users, delivering the better consumer satisfaction and increasing the applications of the edge computing includes Cisco system, Microsoft Corporation, IBM, Google, SAP and several others.
Nonetheless, The Latin America edge computing market is predicted to reach USD 0.44 Bn by 2023. It is anticipated to increase at a CAGR of 31.1%. Edge computing carries the data processing quicker to IoT sensors to deduct the latency and develop the efficiency. The internet of things is fueled by the huge volumes of data produced from activities in our day-to-day lives.
The Latin America edge computing market is further divided into applications and end users. Based on application, it is further sub-divided into smart cities, smart factories, connected healthcare, connected vehicles, smart grids, and several other. Other applications effectively involve the edge computing in gaming and e-commerce. Smart cities controls the foremost market share. Great urbanization heaviness around this economy would require the smart city strategies to schedule and resolve the problems confronted by the citizens, through digitization. This is why corporates will implement the edge computing networks to develop the customer productivities.
On the basis of end users, the industries edge computing networks are effectively utilized in the manufacturing segment, energy and utility segment, IT and telecommunication, healthcare and life sciences, and customer appliances. The IT and telecommunication sector is predicted to clutch the principal market share followed by the manufacturing segment. The country will also observe a significant growth in LTE coverage and development in fibre-optics-based connecting the cell sites.
Not only has this, the Latin America is wearisome to advancement in IOT (internet of things). Around 60% of the inventors in this economy are scheduling to improve IOT technology.
Brazil's manufacturing segment has comprised Industry 4.0. 48% of organization schedule to invest in automation technologies, and data exchange manufacturing, in 2018. Organizations are predicted to assume the edge computing network to sustenance the digital advancements. Therefore, the market of Latin America edge computing will increase in the coming years over the review period more significantly.
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Ankur Gupta, Head Marketing & Communications