Market Research Future Insights
The Edge Computing market industry is projected to grow from USD 36.35 Billion in 2022 to USD 168.6 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 24.51% during the forecast period (2022 - 2030).
Edge computing is a technique for improving cloud computing systems by processing data at the edge of the network, near the source of the data. The key beneficial aliment of edge computing is that it diminishes the time for the operation to milliseconds and lowers the load on the network. Transmission of large amounts of loads generates tremendous load on the network. Therefore, edge computing processes all data at the edge of its source and analyze the data, and send only valuable information on it, rather than frequently broadcasting data over the network. For example, a smart thermostat transmits data only when the temperature increases or falls from acceptable limits.
The edge server is projected to be the booming hardware segment. The development of autonomous vehicles to get information like the weather, light, and road condition, get navigation, control, and even automatically drive has boosted the Edge Computing Market Share. The augmented demand for edge servers throughout various industrial verticals accounts for the segment's promising growth prospects.
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Key Players:
Key Companies in the Edge Computing market includes,
- General Electric Company
- Amazon Inc.
- Intel Corporation
- Microsoft Corporation
- SAP SE
- Schneider Electric SE
- Alphabet Inc.
- IBM Corporation
- ADLINK Technology Inc.
- Huawei Technologies Co. Ltd.
- eInfochips
- EdgeConnex Inc.
The Global Edge Computing Market report provides an integrated evaluation of the market. The report provides a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a significant role in the market.
Regional Analysis:
The Global Edge Computing Market is divided into five regions; North America, Asia Pacific, Europe, Latin America, and the Middle East Africa.
Asia Pacific counted for a significant revenue share due to an augmenting focus on strengthening networking technology in the region. The progression of Telco edge infrastructure to support 5G-enabled applications is estimated to be accelerated by the launch of 5G networks. IT investment in the zone is steadily increasing, which is projected to contribute to an upsurge in the usage of edge computing.
North America esteemed the largest revenue share of the Edge Computing Market. Multiple companies have also emerged to supply infrastructure for building edge-enabled solutions, which are anticipated to drive market growth in the region.
Market Segmentation:
The Global Edge Computing Market is segmented into the following types;
By Component:
- Hardware
- Edge Nodes/Gateways (Servers)
- Sensors/Routers
- Others
- Cameras
- Drones
- HMD
- Robots
- Others
- Hardware by Type
- Hardware by End Point Devices
- Software
- Services
- Edge-managed Platforms
By Organization Size:
- Large Enterprises
- SMEs
By Deployment:
- On Premise
- Cloud
By Industry Vertical:
- Industrial
- Energy Utilities
- Healthcare
- Agriculture
- Transportation Logistics
- Retail
- Datacenters
- Wearables
- Smart Cities
- Smart Homes
- Smart Buildings
By Application:
- IIoT
- Remote Monitoring
- Content Delivery
- Video Analytics
- AR/VR
- Others
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Edge Computing Industry Developments:
January (2023): The Edge Computing Consortium (ECC) is formed to promote the adoption of edge computing.
February (2023): The OpenFog Consortium releases the OpenFog Reference Architecture, which provides a blueprint for building edge computing systems.
March (2023): Intel announces the launch of its Edge AI Platform, which is designed to help businesses deploy AI at the edge.
April (2023): AWS announces the launch of AWS Greengrass, which is a software platform that helps developers run and manage edge computing applications.
May (2023): Microsoft announces the launch of Azure Edge Zones, which are edge computing deployments that are connected to Azure's cloud platform.
June (2023): Google announces the launch of Google Cloud Edge, which is a suite of services that help businesses build and deploy edge computing applications.
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