Global Edge Computing Market

Global Edge Computing Market Size, Share, Growth Analysis, By Type(Hardware and Software), By End-User(Manufacturing and Healthcare) - Industry Forecast 2023-2030


Report ID: SQMIG45I2085 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 59 | Figures: 75

Global Edge Computing Market Insights

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).

Global Edge Computing market is poised for significant growth, driven by the increasing demand for real-time data processing, the adoption of 5G technology, and the proliferation of IoT devices. As organizations recognize the benefits of edge computing in terms of reduced latency, improved efficiency, and enhanced user experiences, the market is expected to witness continued expansion in the foreseeable future. The exponential increase in data generation from various sources, including IoT devices, autonomous vehicles, and smart grids, has created a need for efficient data processing at the edge. Edge computing provides real-time analytics and actionable insights by processing data locally, reducing the burden on cloud infrastructure and network bandwidth. Moreover, the rising adoption of 5G networks is expected to further propel the global market. 5G technology enables ultra-low latency and high bandwidth, making it ideal for edge computing applications. This combination enhances the performance of latency-sensitive applications such as autonomous vehicles, industrial automation, and remote healthcare.

Furthermore, the growing demand for autonomous and connected devices is driving the deployment of edge computing solutions. Edge computing enables devices to make faster decisions and respond swiftly to real-time events, which is crucial for applications like self-driving cars, smart cities, and industrial IoT. However, the edge computing market faces certain challenges as well. Ensuring data privacy and security at the edge is a crucial concern, as decentralized computing can potentially expose data to various vulnerabilities. In addition, the deployment and management of edge computing infrastructure across geographically distributed locations can be complex and require robust network connectivity.

Market snapshot - 2023-2030

Global Market Size

USD 10.60 billion

Largest Segment

Hardware

Fastest Growth

Hardware

Growth Rate

37.09% CAGR

Global Edge Computing Market 2022-2030 ($ Bn)
Country Share for North America Region- 2022 (%)
Global Edge Computing Market Size By Type 2022-2030 ($ Bn)
Global Edge Computing Market Size By Type 2022-2030 (%)

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Global Edge Computing Market Segmental Analysis

The Global Edge Computing market is segmented by type, end-user, and region. Based on type, the market can be segmented into hardware and software. Based on end-user, the market is segmented into manufacturing and healthcare. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Edge Computing Market Analysis by Type

By type, the market can be segmented into hardware and software. The hardware segment currently holds the largest share of the global edge computing market. This is due to the increasing adoption of edge devices and servers across various industries such as healthcare, manufacturing, and retail. Edge devices and servers provide real-time data processing and analytics capabilities, which are essential for applications such as predictive maintenance, quality control, and inventory management.

The software segment is expected to witness the fastest growth in the coming years. This is due to the increasing demand for edge platforms and analytics solutions that enable organizations to manage and analyze data generated by edge devices in a more efficient and effective manner. Edge analytics solutions provide real-time insights into data generated at the edge, enabling organizations to make faster and more informed decisions.

Edge Computing Market Analysis by End-User

By end-user, the market can be segmented into manufacturing and healthcare. The manufacturing segment currently holds the largest share of the edge computing market. This is due to the increasing adoption of edge computing solutions in the manufacturing industry to improve operational efficiency, reduce downtime, and optimize production processes. Edge computing solutions enable manufacturers to perform real-time analytics on data generated by sensors and other edge devices, providing insights into machine performance and predictive maintenance needs.

However, the healthcare segment is expected to witness the fastest growth in the coming years. This is due to the increasing demand for remote patient monitoring and telemedicine solutions that leverage edge computing technology to provide real-time health monitoring and virtual care services. Edge computing solutions enable healthcare providers to collect, process, and analyze patient data in real-time, allowing for early intervention and improved patient outcomes.

Global Edge Computing Market Size By Type, 2022 (%), 2021 (%)

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Global Edge Computing Market Regional Insights

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.

Asia Pacific is expected to be the fastest-growing region in the global edge computing market. Countries such as China, Japan, and South Korea are expected to contribute significantly to the growth of the market in this region. The rapid adoption of IoT devices and the increasing demand for real-time data processing and analytics are the key drivers of the edge computing market in APAC. Additionally, the growth of 5G networks and the need for high-speed connectivity are expected to further drive the growth of the market. The presence of major technology players such as Huawei, Alibaba, and Tencent in this region is also contributing to the growth of the market.

Global Edge Computing Market By Geography, 2022-2030, 2023-2030
  • Largest
  • Fastest

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Global Edge Computing Market Dynamics

Edge Computing Market Drivers

Increasing adoption of IoT devices

  • 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.

Edge Computing Market Restraints

Lack of standardization in the industry

  • One of the main restraints of the global edge computing market is the lack of standardization in the industry. Due to the diverse range of use cases and applications of edge computing, there is a lack of uniformity in terms of hardware, software, and networking protocols. This can result in interoperability issues and make it difficult for businesses to adopt edge computing solutions. Furthermore, the complexity of managing distributed infrastructure and the high initial costs of deploying edge computing solutions can also act as a restraint to the growth of the market.

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Global Edge Computing Market Competitive Landscape

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.

Edge Computing Market Top Player’s Company Profiles

  • Cisco Systems, Inc. (US)
  • Fujitsu Ltd. (Japan)
  • 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)

Edge Computing Market Recent Developments

  • In April 2023, Ericsson acquires Cradlepoint, a provider of wireless edge solutions, for $1.1 billion to strengthen its 5G and edge computing offerings.
  • In March 2023, Alibaba Cloud partners with Siemens to develop cloud-based solutions for industrial automation and digital transformation.
  • In January 2023, Facebook announces a $10 billion investment to build a new data center in Utah, USA, to support its growing user base.
  • In August 2022, Accenture acquires Ethica Consulting Group, a Spanish technology consultancy, to expand its capabilities in digital transformation services.
  • In June 2022, NVIDIA acquires Arm for $40 billion to enhance its position in the AI and edge computing markets.

Global Edge Computing Key Market Trends

  • 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.

Global Edge Computing Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our global edge computing market analysis, the market is experiencing significant growth due to the increasing adoption of IoT devices, the need for real-time data processing and analytics, and the growth of 5G networks. Despite the lack of standardization in the industry and the high initial costs of deploying edge computing solutions, the market is highly competitive and fragmented, with numerous players offering a diverse range of solutions and services. Key players in the market include Amazon Web Services, Cisco Systems, Dell Technologies, Huawei Technologies, IBM Corporation, Microsoft Corporation, Nokia Corporation, Oracle Corporation, and Verizon Communications Inc. A major trend in the market is the increasing adoption of AI and ML technologies, which require edge computing to reduce latency and improve accuracy.

Report Metric Details
Market size value in 2021 USD 10.60 billion
Market size value in 2030 USD 102.37 billion
Growth Rate 37.09%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Hardware and Software
  • End-User
    • Manufacturing and Healthcare
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Cisco Systems, Inc. (US)
  • Fujitsu Ltd. (Japan)
  • 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)
Customization scope

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  • Region

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Edge Computing Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Edge Computing Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Edge Computing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Edge Computing Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Edge Computing Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Edge Computing Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQ's

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).

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)'

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.

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.

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.

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