Edge Computing Market Size, Share, Growth Analysis, By Component(Hardware (Edge Servers {Edge Compute Nodes, Edge Storage devices}, Edge Gateways {Industrial Edge Gateways, IoT Edge Gateways), By Organization Size(Large Enterprises, and Small and Medium-Sized Enterprises (SMEs)), By Application(Real-time Data Processing & Analytics (Stream Processing, Complex Event Processing (CEP), Data Fusion), Predictive Maintenance & Optimization (Predictive Maintenance), By Vertical(Manufacturing (Quality Control, Process Optimization, Remote Equipment Monitoring, Condition-based Monitoring), By Region - Industry Forecast 2024-2031

North America is the largest region in the edge computing market and holds a share of about 39.6% in the market. The US is expected to grow at a CAGR of 30.6% during the forecasted period. The region is dominated due to the strong presence of vendors such as Amazon Web Service, Inc, General Electric, and others. These help in developing new solutions. The manufacturers in the U.S. are moving towards connected factories as the convergence of IoT to edge computing is shaping favourable conditions for them. For enabling edge computed solutions different startups are also growing up to provide such platforms which is surging the market growth. For instance, Telus communications and MobiledgeX, Inc. collaborated for building a program, MobiledgeX early access programme. 

On the other hand, Asia-Pacific is the fastest growing region in the  market and is expected to grow at a CAGR of 42.7% during the forecasted period. The continuously growing networking technology in this region is also driving the market. Furthermore, the growth in technology which include IoT, launch of 5G network, and Industry 4.0 are leading to the expansion of connected devices ecosystem which is leading towards the demand for strong computerized infrastructure. Due to these various industries are entering into the regions of developing countries like India, Indonesia, and others. Therefore, driving the growth of the market.