Advancements in Tech Poised For Remarkable Growth in 5G Edge Computing By CIOTechOutlook Team

Advancements in Tech Poised For Remarkable Growth in 5G Edge Computing

CIOTechOutlook Team | Tuesday, 23 January 2024, 08:46 IST

The global 5G Edge Computing market is on the horizon for dominant expansion. The market is projected to grow from US$ 11.182 billion in 2022 to US$ 132.566 billion by 2028, exhibiting an impressive Growth Rate (CAGR) of 51%. low-latency applications such as virtual reality (VR), augmented reality (AR), autonomous vehicles and the emerging Internet of Things (IoT) will drive the market and growth.

The consumption of international bandwidth is escalating, pointing towards an overwhelming adoption of 5G edge computing solutions to bolster network performance and reliability, particularly in regions requiring robust connectivity. The integration of these technologies is set to transform the data landscape, enhancing privacy, and cost-effectively driving down the dependence on traditional cloud computing infrastructures, as per research and markets.

The market and landscape is diverse across smart cities, industrial IoT, remote sensing and AR/VR applications. Groundbreaking collaborative projects and technological breakthroughs are constantly emerging, highlighting the potential of 5G edge computing. In the field of smart cities, partnerships such as Verizon and Cisco are creating 5G edge solutions tailored to business needs. At the same time, Cisco's introduction of Cisco+ is revolutionizing industry standards by accelerating technology adoption and problem solving through a service model.

The geopolitical impact on the 5G Edge Computing market sheds light on prominent companies and their initiatives around the world. The booming US market is expected to show a significant CAGR, while countries such as the US, Japan, South Korea, China, the UK and Germany are paving the way with forward-looking measures to upgrade their 5G networks.