Market Size of Edge Computing In Automotive Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 44.47 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Edge Computing In Automotive Market Analysis
The Edge Computing in Automotive Market is valued at 1.43 billion in the current year and is expected to register a CAGR of 44.47% during the forecast period to become 9.01 billion by the next five years. The evolution of autonomous vehicles and connected car infrastructure and the requirement for lightweight frameworks and systems to heighten the efficiency of edge computing solutions are anticipated to generate abundant opportunities for edge computing vendors.
- Enterprises across automotive are beginning to drive new levels of performance and productivity by deploying different technological innovations, like sensors and other data-producing and collecting devices, along with analysis tools. Traditionally, data management and analysis are performed in the cloud or data centers. However, the scenario seems to be changing with the increasing penetration of network-related technologies and initiatives, such as smart manufacturing and smart cities.
- For connected cars to give the value they are expected to, there is a device that can concoct this data in real time. Edge computing is the method of processing data from IoT (Internet of Things) devices where it is generated. With the edge, the data being gathered gets examined right at the source.
- Moreover, processing increasing amounts of data at a faster pace, generated by industrial robots and connected cars equipped with various sensors, is problematic, and 5G applications are solving such issues with their low latency and high reliability, making it easier to offload part of this processing need to edge or cloud-based servers, thus, minimizing the complexity.
- Additionally, the absence of a "global" border and an ecosystem with a single owner that is governed by numerous individuals who must cooperate through networks makes it even more vulnerable. A piece of the infrastructure may be under the control of highly localized attacks with localized impact.
- The COVID-19 pandemic positively affected the 5G and multi-access edge computing (MEC) deployments as businesses strategized service speed and low latency as key differentiators. Tight integration of network and compute to support next-generation apps is the way forward.
