Proliferation of Internet of Things (IoT) Technology is Responsible for the Growth of Edge Computing Market

One of the major factors that is responsible for the global edge computing market growth is the proliferation of Internet of Things (IoT) technology. Increasing adoption of smartphones, smart watches, and intelligent wearable devices, among others are the major factors driving the demand for IoT technology. For instance, according to Coherent Market Insights analysis, in 2016, over 68% of the global population were mobile phone users, of which around 2.5 billion were smartphone users.

Advancements in technology and growing adoption of 2G, 3G, and 4G long-term evolution (LTE) wireless networks are in turn,  propelling demand for IoT technologies. This is subsequently boosting growth of the global edge computing market. These cellular networks enable connectivity and communications to cyber-crime sensitive activities such as exchange of real-time information, data, and online transactions. The demand for IoT security solutions has increasing, to ensure enhanced security and flexibility of such online communication. According to Internet World Stats, as of June 2017, among the global population of7.5 billion, the total number of Internet users accounted for 3.9 billion.

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Furthermore, increasing accessibility to internet and execution of government regulatory policies to increase the penetration of IoT in several verticals like automotive, healthcare, retail, BFSI and so on are expected to favor growth of the market. For instance, in 2017, Brazilian government launched, Internet of Things: an action plan for Brazil, between 2018 and 2022, to enhance their economy and development in four different areas namely, healthcare, agribusiness, smart cities, and manufacturing. This in turn, is expected to boost growth of edge computing market over the forecast period.

However, the challenge of configuration is the major factor expected to restraint growth of the edge computing market. Not changing default password on each edge computing devices and consistently neglecting to update firmware may unintentionally create security holes, which in turn, makes these devices highly susceptible to cyber terrorism.

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