By Godson Umejiego, Correspondent USA
According to the new Worldwide Edge Spending Guide from International Data Corporation (IDC), the Canadian edge computing market will reach C$7.5 billion(US$5.6billion) in 2024 with a compound annual growth rate (CAGR) of 12.3 per centover the 2019–2024 forecast period.
“Canadian organizations are beginning to understand that some of our most valuable insights are gained in real-time at the edge, where interactions take place,” according to Infrastructure Solutions Research Director at IDC Canada, Dave Pearson. “Vendors across the ecosystem are addressing that need with hardware, software, and services designed to optimize that data creation, analysis, and utilization.”
From an industry perspective, 6 of the 19 standard industry segments will deliver 5 per cent or more of total Canadian spending in 2020. “The top three industries for edge spending throughout the forecast are professional services, banking, and state/local government,” according to Associate Analyst at IDC Canada, Clinton Ali. “With a five-year CAGR of 14.7 per cent, retail will see the fastest growth in spending at the end of the forecast.”
From a technology group perspective, services will account for 46.2 per cent of all edge spending in 2024. The main driver of services spending is provisioned services. It is then followed by hardware with spending mainly by light edge. Also finally followed by software with spending being driven by security software. Within the technology categories, the fastest-growing technologies with spend above C$100 million in 2020, are gateways (18.4% CAGR), PaaS (17% CAGR), SaaS (16.1%), and connectivity (14.2% CAGR).
The IDC Worldwide Edge Spending Guide quantifies the edge computing market by forecasting end-user spending across 19 technology markets, six technology domains, 19 industries, and nine geographies. This version (V1 2020) of the Spending Guide incorporates updated estimates for the impact of COVID-19 across all technology and industry markets as of the end of May 2020.