Pune, India, Oct. 25, 2023 (GLOBE NEWSWIRE) -- The global edge computing market size was valued at USD 11.99 billion in 2022 and is projected to reach USD 139.58 billion by 2030, exhibiting a CAGR of 36.3% during the forecast period. Fortune Business Insights™ presents this information in a report titled, Global Edge Computing Market Forecast, 2023-2030.
The global market is predicted to show substantial growth during the forecast timeframe as the demand for edge devices is increasing at a notable rate. These devices typically include Internet of Things (IoT) machines such as mobile point-of-sale kiosks, smart cameras, industrial PCs, medical sensors, gateways, and computing infrastructure. These devices can provide real-time and faster insights into the main data source. As per estimates presented by Gartner, almost 75% of the data will be generated outside central data centers by 2025. Many upcoming technologies, such as Industry 4.0, artificial intelligence, and IoT might boost the global edge computing market growth during the forecast period.
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Key Industry Development:
Vodafone Turkey partnered with Qwilt and Cisco to develop an edge delivery network. The partnership will improve the quality and delivery capacity by using the company’s video-on-demand, live streaming, and media capabilities.
Key Takeaways
- Pandemic Fuels Digital Transformation in Businesses to Boost Product Adoption
- Robust Investments in Edge Hardware to Aid Market Progress
- Rising Introduction of AIoT and Enormous Investments to Bolster Market Growth
- By Enterprise Type Analysis: Large Enterprises to Heavily Adopt Edge Solutions Due to Rising Deployment of IoT-Connected Devices
Discover the Leading Players Featured in the Report:
“Companies leading the Edge Computing Market share are IBM Corporation (U.S.), Intel Corporation (U.S.), Amazon.com, Inc. (U.S.), Google LLC (U.S.), Microsoft Corporation (U.S.), ADLINK Technology Inc. (Taiwan), Hewlett Packard Enterprise Development LP (U.S.), Cisco Systems, Inc. (U.S.), Huawei Technologies Co., Ltd. (U.S.), EdgeConneX Inc. (U.S.)”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 36.3% |
| 2030 Value Projection | USD 139.58 Billion |
| Base Year | 2022 |
| Edge Computing Market Size in 2022 | USD 11.99 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 196 |
| Segments covered | Component, Enterprise Type, Application, Industry and Geography |
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Drivers and Restraints:
Growing Deployment of 5G Network to Drive Usage of Edge Computing Solutions
Edge-powered SaaS solutions are gaining popularity on 5G networks. Many companies are integrating their services with cloud systems. However, with the growing reliance on IoT and AI devices, the overall traffic for data processing has increased considerably. 5G networks are being rolled out across the world and investments by global companies are also rising. More than 380 telecom operators are investing heavily in 5G solutions to help them improve their speed and agility. Edge computing is also using 5G/6G infrastructure to reduce complexity, save costs, and fortify cybersecurity defenses. Such developments will bolster the market growth.
Since the installation cost of edge nodes, devices, and data centers is quite high, firms can find it hard to build a complete and reliable edge solution, further constricting the market growth.
Geographically, the report covers North America, South America, Europe, the Middle East & Africa, and Asia Pacific.
Segmentation:
By Component
- Hardware
- Application/Software
- Edge Cloud Infrastructure
- Services
- Network
By Enterprise Type
- Small & Medium Enterprises
- Large Enterprises
By Application
- IoT Applications
- Robotics & Automation
- Predictive Maintenance
- Remote Monitoring
- Smart Cities
- Others
By Industry
- Manufacturing
- Oil & Gas
- BFSI
- Healthcare
- Retail
- IT & Telecom
- Automotive
- Others
By Region
- North America
- South America
- Europe
- Middle East and Africa
- Asia Pacific
Regional Insights:
North America generated the highest revenue for the market in 2022. This region has a vast presence of reputed service providers who are majorly based in the U.S. These companies include IBM, Intel, and Microsoft. These solution providers are expanding their regional presence and increasing their customer base by merging with and acquiring small-scale enterprises, further strengthening the regional market growth.
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Competitive Landscape:
Companies to Use Inorganic Growth Strategies to Gain Competitive Edge
Companies operating in the global market are signing merger & acquisition agreements and partnering with various organizations to enhance their competitive edge. They are using these strategies to combine their unique capabilities with the expertise of the firms they acquire or merge with. The products developed from this strategy can cater to the changing computing requirements of the users.
FAQ’s
How large is the Edge Computing Market?
Edge Computing Market size was USD 11.99 billion in 2022.
How fast is the Edge Computing Market growing?
The Edge Computing Market will exhibit a CAGR of 36.3% during the forecast period, 2023-2030.
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IIoT (Industrial Internet of Things) Technology Market Size, Share, Trends
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