Space-based edge computing market for defense expected to see huge demand, study revealsNews
June 02, 2023
FREMONT, Calif. The global space-based edge computing market is expected to see huge revenue increases from the defense segment, followed by the commercial segment, according to a new study from BIS Research, "Space-Based Edge Computing Market -- A Global and Regional Analysis: Focus on Application, Product, and Country -- Analysis and Forecast, 2023-2033."
The study authors predict that the global space-based edge computing market will reach $1.80 billion in 2033, up from $200.9 million in 2022, at a combined annual growth rate (CAGR) of 22.64% during the study period.
According to the researchers, the space-based edge computing market will continue to grow as companies demand latency reduction in space and call for shifting data centers in space. Other factors in the huge market growth include increased development of low Earth orbit (LEO) satellite constellations for communication purposes, and mounting numbers of companies pursuing research and development activities to develop cost-efficient edge computing components.