Global Edge Computing Market Size, Share, Growth Analysis, By Type(Hardware and Software), By End-User(Manufacturing and Healthcare) - Industry Forecast 2024-2031

Global 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).

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.