What is the global market size of Edge Computing Market?

Edge Computing Market size was valued at USD 10.60 billion in 2021 and is poised to grow from USD 11.25 billion in 2022 to USD 102.37 billion by 2030, growing at a CAGR of 37.09% in the forecast period (2023-2030).

Who are the key vendors in the Global Edge Computing Market?

The global edge computing market is highly fragmented, with the presence of numerous players offering a diverse range of edge computing solutions and services. The market is characterized by intense competition among players to gain a larger market share. To remain competitive, players are focusing on developing innovative and cost-effective solutions that can cater to the diverse needs of various industries. Additionally, partnerships, collaborations, and acquisitions are becoming common among players to expand their geographical presence and enhance their product offerings, indicating the competitive nature of the market. 'Amazon Web Services (US)', 'Cisco Systems, Inc. (US)', 'Dell Technologies, Inc. (US)', 'Fujitsu Ltd. (Japan)', 'General Electric Company (US)', 'Hewlett Packard Enterprise Company (US)', 'Huawei Technologies Co., Ltd. (China)', 'IBM Corporation (US)', 'Intel Corporation (US)', 'Juniper Networks, Inc. (US)', 'Microsoft Corporation (US)', 'Nokia Corporation (Finland)', 'NXP Semiconductors N.V. (Netherlands)', 'Oracle Corporation (US)', 'SAP SE (Germany)', 'Schneider Electric SE (France)', 'Siemens AG (Germany)', 'Tencent Holdings Limited (China)', 'Verizon Communications Inc. (US)', 'Vodafone Group Plc (UK)'.

What is the key driver of Global Edge Computing Market?

The global edge computing market is being driven by the increasing adoption of IoT devices, the need for real-time data processing and analytics, and the growth of 5G networks. Edge computing enables faster and more efficient data processing by bringing computing closer to the source of data. This technology is gaining popularity in various industries, including healthcare, finance, and manufacturing, due to its ability to reduce latency, improve security, and enhance the overall performance of applications. Major technology players are investing heavily in research and development to create innovative edge computing solutions, indicating significant growth prospects for the market.

What is the key market trend for Global Edge Computing Market?

One major trend in the global edge computing market is the increasing adoption of artificial intelligence (AI) and machine learning (ML) technologies. With the growth of IoT and the need for real-time data processing, edge computing is becoming a critical component in enabling the development and deployment of AI and ML applications. By processing data closer to the source, edge computing can reduce latency and improve the accuracy and speed of AI and ML algorithms. As a result, there is a growing demand for edge computing solutions that can support AI and ML workloads, indicating a significant trend in the market.

Which region accounted for the largest share in Global Edge Computing Market?

North America dominated the global edge computing market, with the United States being the largest contributor to the regional growth. The increasing adoption of IoT devices and the need for real-time data processing and analytics are driving the growth of the edge computing market in this region. Furthermore, the presence of major technology players such as IBM, Microsoft, and Cisco in North America is contributing to the growth of the market. These companies are investing heavily in research and development to create innovative solutions that can meet the growing demand for edge computing services. Additionally, the rise in cloud computing and the need for high-speed connectivity is further fueling the growth of the market.

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

Report ID: SQMIG45I2085 | Region: Global | Published Date: June, 2024
Pages: 197 | Tables: 59 | Figures: 75

Edge Computing Market News

In May 2024, Tata communications launched CloudLyte, a fully automated edge computing platform for the enterprises.

In February 2024, GCore announced the launch of FastEdge, an advanced serverless product used in application deployment and performance. It creates responsive and personalized applications without the complexities of server management.

In February 2024, Akamai technologies launched generalized edge computing services (Gecko) to centrally manage and deploy workload on edge computing platforms.

Edge Computing Market Report Snapshots

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Edge Computing Market size was valued at USD 11.25 billion in 2022 and is poised to grow from USD 15.42 billion in 2023 to USD 192.40 billion by 2031, growing at a CAGR of 37.09% in the forecast period (2024-2031).

The global edge computing market is highly competitive in nature, with the presence of numerous players offering a diverse range of edge computing solutions and services. To remain competitive, players are focusing on developing innovative and cost-effective solutions that can cater to the diverse needs of various industries. 'Amazon Web Services (US)', 'Dell Technologies, Inc. (US)', 'General Electric Company (US)', 'Fujitsu Ltd. (Japan) ', 'Hewlett Packard Enterprise Company (US) ', 'IBM Corporation (US) ', 'Juniper Networks, Inc. (US) ', 'NXP Semiconductors N.V. (Netherlands) ', 'Schneider Electric SE (France) ', 'SAP SE (Germany) ', 'Tencent Holdings Limited (China) ', 'Vodafone Group Plc (UK) ', 'Siemens AG (Germany) ', 'Verizon Communications Inc. (US) ', 'Cisco Systems, Inc. (US) ', 'Huawei Technologies Co., Ltd. (China) ', 'Intel Corporation (US) ', 'Microsoft Corporation (US) ', 'Nokia Corporation (Finland) ', 'Oracle Corporation (US)'

The increasing demand for low-latency data processing devices in industries such as manufacturing, healthcare, and others is driving the demand for edge computing systems. these require continuous and quick access to their data for increasing their operations and correct decision making. Discontinuous increasing demand for rapid data processing and real time analytics is driving the market.

Rising Adoption of Edge Computing in Telecommunication Sector: The telecommunication sector is growing continuously by updating its infrastructure by integrating 5G worldwide which is driving towards the adoption of edge computing resources. The 5G and the IoT technology with the help of edge computing will help in reshaping the telecom sector. This will help the telecom sector in boosting their connectivity and in reducing latency for their customers and will introduce new services like data management at the edge. The 5G, IoT, and edge computing would be transformational for both communication service providers and their customers. The telecom industry is investing in the edge computing technologies which will help in developing new technologies and enhance user experiences.

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.

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What is the global market size of Edge Computing Market?

Who are the key vendors in the Edge Computing Market?

What is the key driver of Edge Computing Market?

What is the key market trend for Edge Computing Market?

Which region accounted for the largest share in Edge Computing Market?

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