Global Edge Computing Market Insights Forecasts to 2030
- The Global Edge Computing Market Size was valued at USD 7.44 billion in 2021.
- The Market is growing at a CAGR of 37.9% from 2022 to 2030
- The Global Edge Computing Market Share is expected to reach USD 157.91 billion by 2030
- The Asia Pacific is expected to grow the fastest during the forecast period
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The global edge computing market size is expected to reach USD 157.91 billion by 2030, at a CAGR of 37.9% during the forecast period 2022 to 2030. By allowing a wide range of stakeholders to maintain networking, software development, traffic distribution, and service administration, edge computing adds another layer of complexity to the organisation.
Edge blends networking architecture, software, and hardware solutions to address a range of use cases across numerous industries. The development of edge computing is still in its early stages. Although its operational and deployment models have not yet developed, edge computing is anticipated to present considerable growth opportunities for new entrants in the coming years. Many people have developed a lot of software recently due to increased internet usage, which has fuelled the expansion of the edge computing market. Even the health care facilities themselves used some of the applications. People can mention their health concerns as part of the procedure, and the doctors will subsequently contact the patients by using the software's data to locate them. The size of the edge computing market has increased due to the growth in consumer demand and technological advancement. The market share of edge computing has expanded as a result of the emergence of autonomous vehicles that can gather information about the weather, light, road conditions, receive directions, control, and even drive themselves. People began to appreciate the autonomous vehicle's feature after considering its advantages. Therefore, the manufacturing firms have decided to invest in this cutting-edge technology, which may also open up opportunities to increase the market share of edge computing.
Global Edge Computing Market Report Coverage
|Market Size in 2021:||USD 7.44 Billion|
|Forecast Period 2022-2030 CAGR:||37.9 %|
|2030 Value Projection:||USD 157.91 Billion|
|Historical Data for:||2019-2020|
|No. of Pages:||215|
|Tables, Charts & Figures:||105|
|Segments covered:||By Component, By Application, By Industry Verticals|
|Companies Covered:||Amazon, Inc., General Electric Company, Intel Corporation, SAP SE, Microsoft Corporation, IBM Corporation, EdgeConnex Inc.|
|Growth Drivers:||The significant impact of the IoT in recent years is the primary cause of the rise in the utilisation of edge computing.|
|Pitfalls & Challenges:||The price of the edge infrastructure is the primary factor limiting the growth of the edge computing market.|
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This research report categorizes the market for Edge Computing based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Edge Computing market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the Edge Computing market.
The significant impact of the IoT in recent years is the primary cause of the rise in the utilisation of edge computing. The rise in the use of cloud computing and storage solutions is helping to advance edge computing as well. It is feasible to accelerate decision-making close to the data source by operating and processing via edge computing. Edge computing and data centres have witnessed a sudden surge in demand due to the onset of COVID 19 pandemic. In contrast, it is anticipated that investment in these technologies would decline significantly in the coming months as more people use them. Businesses in a wide range of industry sectors are lowering their spending or cutting their investments in upgrading servers and software in order to achieve significant cost savings. There are a few anomalies, such expenditure on IoT and increasing edge in the telecom and healthcare sectors. Businesses use opportunities to offer new services in response to the current environment.
The price of the edge infrastructure is the primary factor limiting the growth of the edge computing market. People are becoming curious and wanting to test edge computing since, like in former years, its expansion was slow. But in the customers' minds, the price is the only item that poses a barrier. Due to the price increase brought on by technological advancement, this is not accessible for a reasonable price.
- In 2021, hardware segment holds the largest market share of over 40%.
On the basis of component, the edge computing market is segmented into Hardware, Software, Services, Edge-managed Platforms. Among these, the hardware segment holds the largest market share of more than 40% since it is becoming more and more popular in the managed services sector. The amount of data produced by IoT and IoT devices is rapidly growing along with their quantity. Enterprises are therefore implementing edge computing equipment to reduce the stress on the cloud and data centres in order to deal with the volume of data generated. The hardware segment is further segmented into Sensors/ Routers Edge Nodes/Gateways (Servers), and Others, wherein the Edge Nodes/Gateways (Servers) segment accounted for significant market share. Additionally, the expansion of data centres in a variety of industries increases the demand for edge routers that connect local and wide-area networks (WAN). Edge data centers should be connected with edge routers which will help in handling large number of incoming traffic by maintain low latency. During the projection period, the requirement for secure and effective data processing at the network's edge is projected to fuel industry growth.
- In 2021, Industrial Internet of Things (IIoT) dominates the market with the largest market share of 28%.
Based on application, the edge computing market is segmented into IIoT, Remote Monitoring, Content Delivery, Video Analytics, AR/VR, Others. Among these, IIoT holds the largest market share over the 28%. In order for manufacturers to achieve the aim of digitising their facilities, edge computing has been crucial. Device edge, a significant installed base for edge computing, is present in the manufacturing industry. It is projected that demand for edge infrastructure will increase as services get more intricate and the infrastructure edge is made more reachable. The Industry 4.0 initiative also establishes a framework for plant modernization in light of industry disruptions, paving the door for edge deployment. By utilising technologies that harmonise the cyber and physical systems, Industry 4.0 promotes operational agility. An edge platform can be used by smart factories to provide only processed data to their cloud solutions.
- In 2021, energy and utility segment hold the largest market share of over 15%.
On the basis of industry vertical, the global edge computing market is segmented into Industrial, Energy & Utility, Healthcare, Agriculture, Transportation & Logistics, Retail, Datacenters, Wearables, Smart Cities, Smart Homes, Smart Buildings. Among these, energy and utility segment is dominating the market with more than 15% of the overall market share. Smart grids, which rely on device edge infrastructure, are probably going to help the energy and utility sector's income grow. Global attempts to increase the efficiency of electrical utility services, including the development of alternative renewable power sources like solar and wind, are being fuelled by environmental sustainability programmes. In order to empower capabilities and improve operating efficiencies, smart grids are being implemented all over the world. These networks can support microgrids to support generation from dispersed renewable sources, real-time consumption control, and integration with smart appliances.
Regional Segment Analysis of the Edge Computing Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
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North America emerged as the largest market for the global Edge Computing market in 2021.
- In 2021, North America had the highest revenue share of more than 40%. IIoT and edge computing convergence is creating ideal conditions for American manufacturers to transition to connected manufacturing. A number of businesses have also developed to provide platforms for creating edge-enabled products, which are projected to accelerate the growth of the local market.
- In the coming years, APAC is anticipated to grow at the fastest rate. APAC has shown significant innovation adoption and is anticipated to experience the highest CAGR during the projected period. Additionally, the area's IT investment is gradually increasing, which is anticipated to help enhance the use of edge computing.
List of Key Market Players:
- Amazon, Inc.
- General Electric Company
- Intel Corporation
- SAP SE
- Microsoft Corporation
- IBM Corporation
- EdgeConnex Inc.
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
- In October 2022, with integrated platforms set to become available in 2023, Dell Technologies has made an announcement to launch he Project Frontier initiative. This initiative aims to simplify the process of deploying software at the edge.
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the global Edge Computing market based on the below-mentioned segments:
Edge Computing Market, by Component
- Hardware by type
- Hardware by End Point Devices
- Edge managed platforms
Edge Computing Market, by Application
- Remote Monitoring
- Video Analytics
- Content Delivery
Edge Computing Market, by Industry Vertical
- Energy and Utility
- Smart Cities, Smart Homes, Smart Buildings
Edge Computing Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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