Edge Computing Market, By Components: (Hardware, Software, Services), By Application: (Smart Cities, Industrial Internet of Things (IIoT), Remote Monitoring, Content Delivery, Augmented Reality (AR) and Virtual Reality (VR), Others) By Organization Size: (Large Enterprises, SMEs), By Verticals: (Manufacturing, Energy and Utilities, Government and Defense, Telecommunications, Media, and Entertainment, Retail and Consumer Goods, Transportation and Logistics, Healthcare and Life Sciences, Others (BFSI and Education), By Region – Global Analysis Forecast Till 2030

The Worldwide Edge Computing Market is expected to grow at a CAGR of 40.10% from 2022 to 2030, reaching USD 157.10 Billion by 2030.

Edge computing helps improve cloud computing systems by processing data at the network’s edge closer to the data source. Widespread use and acceptance of IoT drives cloud-based overload, a crucial factor driving the edge computing market. Transferring large amounts of data puts a significant strain on the network. Edge computing inspects all data at the edge at the source, analyzes it, and communicates only the information that matters, rather than broadcasting data frequently over the network.

Edge computing architecture builds on existing open-source technologies and security. Many telecom service providers are adopting edge computing to modernize their networks. Therefore, the global edge computing market is expected to grow at a moderate pace during the forecast period.

Edge computing is a transformative paradigm that brings processing power and data storage closer to the source of data generation, enabling real-time analysis and low-latency response. This distributed computing approach utilizes edge networks, including edge clouds, to efficiently process and manage data at the edge of the network. Fog computing, mobile edge computing, and multi-access edge computing (MEC) are integral components of this ecosystem, extending edge processing capabilities. With IoT edge computing, devices at the edge of the network seamlessly integrate with cloud services, enabling efficient data processing and analysis. Overall, edge cloud computing and its associated technologies offer immense potential for enhancing modern computing systems' scalability, efficiency, and responsiveness.

Market Dynamics:

Drivers:

The main reason for the increase in usage of Edge Computing Market is the recent high influence of IoT. The growing use of cloud computing and storage solutions further fuels edge computing. Operations and processing with Edge Computing can speed up decision-making close to the data source. Even Purdue University is using IoT sensors to speed up plant growth and improve food production processes.

Restraints:

The primary reason restraining the growth of the edge computing market growth is the cost of edge infrastructure. As in recent years, the growth of edge computing has been slow, and people are interested and want to try edge computing. However, the only stumbling block in the minds of customers is cost. Advances in technology have increased their cost, making them unavailable at low cost.

Key players:

• Cisco(US),

• HPE(US),

• Huawei(China),

• IBM(US),

• Dell Technologies(US),

• Nokia(Finland),

• Litmus Automation(US),

• AWS(US),

• Foghorn(US),

• Microsoft(US),

• VMWare(US),

• SixSq(Switzerland),

• EdgeIQ(US),

• Saguna(Isreal)

• and Vapour IO(US)

Market Segmentation:

Edge Computing Market, By Components:

• Hardware

• Software

• Services

Edge Computing Market, By Application:

• Smart Cities

• Industrial Internet of Things (IIoT)

• Remote Monitoring

• Content Delivery

• Augmented Reality (AR) and Virtual Reality (VR)

• Others (autonomous vehicles, drones, and gaming)

Edge Computing Market, By Organization Size:

• Large Enterprises

• SMEs

Edge Computing Market, By Verticals:

• Manufacturing

• Energy and Utilities

• Government and Defense

• Telecommunications

• Media and Entertainment

• Retail and Consumer Goods

• Transportation and Logistics

• Healthcare and Life Sciences

• Others (BFSI and Education)

Edge Computing Market, By Regions:

• North America

  • US

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Rest of Europe

• APAC

  • China

  • Japan

  • Australia

  • Rest of APAC

• Middle East

  • UAE

  • Saudi Arabia

  • South Africa

  • Rest of MEA

• Latin America

  • Brazil

  • Mexico

  • Rest of Latin America

Regional Analysis:

In terms of revenue, North America is projected to hold a prominent share of the global market by the end of 2022. The convergence of IIoT and edge computing is creating ideal conditions for US companies to transition to link manufacturing. Several companies are beginning to provide platforms for building edge-ready solutions. Telus Communications and MobiledgeX, Inc. have teamed up to create the MobiledgeX Early Access Program. This initiative enables developers to create, test, and evaluate the usability of edge-ready apps in low-latency environments.

The growing use of connected devices such as smartphones, tablets and iPads is driving the demand for edge computing solutions in North America. Key players in the region are focusing on launching edge computing solutions to gain a competitive edge in the market. In May 2020, IBM Corporation and Red Hat, Inc. launched new edge computing solutions, such as IBM Edge Application Manager and IBM Telco Network Cloud Manager, for various organizations in the 5G era. These solutions help businesses accelerate their transition to edge computing.

The Asia Pacific region is likely to see robust market growth, driven by prominent industry players such as ADLINK Technology Inc., Huawei Technologies Co., Ltd., and Samsung. These key players focus on new product development to expand their product range.

Scope of the Report:

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