The Middle East Edge Computing Market is expected to grow at a CAGR of around 29.65% during the forecast period, i.e., 2022-27, says MarkNtel Advisors in their research report. The market is driven primarily by the increasing reliance of organizations on centralized cloud computing & storage systems due to the rapidly increasing use of IoT devices that has led to a significant surge in the data volumes.
Edge Computing enables efficient & quick data processing that helps minimize internet bandwidth usage. Hence, the burgeoning demand for low latency & real-time data processing is another crucial factor driving the market through 2027, further states the research report, "Middle East Edge Computing Market Analysis, 2022."
Demand for Edge Computing to Gain Significant Boost across the BFSI Sector
The rapidly emerging trend of digital banking and the burgeoning usage of Blockchain technology across banks are the prime aspects likely to lead the BFSI sector to attain a significant boost across the Middle East in the coming years. Nowadays, banks are deploying high-security payment services & apps to enhance the digital banking experience of customers, which is increasing the demand for edge computing across the financial & banking industry due to the large volume of data generated from these apps, coupled with the mounting requirements to provide real-time data & quick responses to customers
“Middle East Edge Computing Market Analysis, 2022” highlights insights on the market potential & opportunities, along with business strategies to enhance the overall market growth. The report offers an overview of leading market players and their recent developments. Moreover, the report provides incredible market opportunities & emerging trends to help stakeholders make appropriate decisions before investing.
Hardware to Dominate the Middle East Edge Computing Market
With the rising trend of IoT (Internet of Things) and Industrial IoT devices, the amount of data generated through these devices is booming astronomically. As a result, the demand for highly durable Edge Computing Hardware with ample storage & power range is also increasing to handle the growing burden of data on the cloud & data centers. Further, the snowballing adoption of advanced technologies like machine learning, artificial intelligence, and IoT by organizations is fueling the need for high-performance hardware to enhance overall performance. The utilization of edge computing hardware is for real-time data processing and quick response generation. Hence, these advantages associated with edge computing hardware are likely to contribute to their surging demand in the coming years.
According to MarkNtel Advisors, the leading players in the Middle East Edge Computing Market are Cisco system, Microsoft Corporation, IBM, Google, SAP, Amazon, Hewlett Packard Enterprise Development LP.
Key Questions Answered in the Study