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The worldwide edge computing market is projected to reach *** billion U.S. dollars by 2029. Edge computing is the delivering of storage, computing, and network capabilities to the local points of a network, through which less latency, reduced cost, better performance and higher security at the edge are obtained. 

Exponential growth of data and connected devices

The world is witnessing an exponential growth in the amount of data that is being created, captured, copied, and consumed. In 2022, the volume of data worldwide amounted to *** zettabytes (ZB) and by 2025 this figure will reach *** ZB. The growing number of Internet of Things (IoT) connected devices is contributing to this data explosion: the number of IoT or connected devices is forecast to reach ** billion in 2033, a more than threefold increase from 2022. 

Edge computing and its ecosystem

The ever-growing amount of data and connected devices push the need for greater storage, computing, and network capacities closer to the endpoints, giving rise to edge computing. The edge market is a whole ecosystem that includes cloud giants such as Amazon Web Services (AWS) and Microsoft, infrastructure providers such as Advanced Micro Devices (AMD) and Ericsson, as well as communication service providers like AT&T and Verizon.