Pune, India, March 31, 2023 (GLOBE NEWSWIRE) — Global Market size of edge computing The market is projected to grow from $15.96 billion in 2023 to $139.58 billion by 2030, at a CAGR of 36.3% during the forecast period. There is increasing deployment of edge infrastructure for 5G networks that will boost the growth of the market. Fortune Business Insights™ presents this information in a report titled, “Global Edge Computing Market Forecast, 2023-2030.”
Development of major industries:
From October 2022 Scale Computing and Intel Corporation have teamed up to incorporate the former’s HyperCore tools into Intel’s NUC Enterprise Edge Compute (EEC) platform. With this launch, the company will enable enterprise users to troubleshoot and monitor edge infrastructure in real time.
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The global market is expected to expand significantly due to the spread of edge devices. These devices range from Internet of Things (IoT) machines such as mobile POS kiosks, smart cameras, industrial PCs and medical sensors, to gateways and computing infrastructure. These devices provide faster, real-time insight into your data sources. According to Gartner, by 2025, 75% of data will be created outside central data centers. Emerging technologies such as Industry 4.0, artificial intelligence, and IoT are likely to boost the growth of the global market during the forecast period.
Report scope and segmentation
| report coverage | detail |
| Forecast period | 2023-2030 |
| Forecast period 2023-2030 CAGR | 36.3% |
| 2030 value projections | US$139.58 billion |
| base year | 2022 |
| Edge computing market size in 2022 | US$11.99 billion |
| historical data of | 2019-2021 |
| number of pages | 196 |
| Target segment | Component, Enterprise Type, Application, Industry, Region |
| Edge Computing Market Growth Drivers | Increased Deployment of Edge Infrastructure for 5G Networks to Drive Market Growth |
important point
- The global market is expected to grow exponentially due to the increasing use of edge devices.
- AIoT Adoption and Huge Investment to Boost Market Growth
- Edge computing with 5G/6G infrastructure can reduce complexity, lower costs, and strengthen cybersecurity defenses.
- Application Analysis: Smart Cities Adopting Maximum Edge Solutions To Work Effectively
- North America Edge Computing Market Size to be US$4.13 Billion in 2022
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Drivers and restraints:
Increased Deployment of Edge Infrastructure for 5G Networks to Drive Market Growth
Edge-powered SaaS is gaining popularity in 5G networks. Many companies are integrating their services with cloud systems. However, as our reliance on IoT and AI devices has increased significantly, overall data processing traffic has increased at a significant rate. 5G networks are being deployed on a large scale, increasing investment by global enterprises. More than 380 operators are increasing their investment in 5G to increase speed and agility. 5G/6G infrastructure is being deployed in edge computing to reduce complexity, reduce costs, and strengthen cybersecurity defenses. Such developments will boost the growth of the edge computing market.
Installing edge nodes, devices and data centers can be quite expensive, making it difficult to build a complete and robust solution. These aspects may limit market growth.
Geographically, the report covers North America, South America, Europe, Middle East and Africa, and Asia Pacific.
segment:
Deployment of hardware solutions across multiple industries to support market growth
Based on component, the market is segmented into hardware, applications/software, edge cloud infrastructure, services, and networks. The hardware segment increased market revenue margins in 2022.
Hardware edge vendors are increasing their investment in edge computing around the world. For example, HPE has invested nearly US$4 billion in his four years to innovate the already launched Edgeline converged edge system.
Demand for such edge services is expected to grow significantly over the next few years. Intel Corporation, Dell Technologies Inc., and many others are making strategic investments to develop and enhance edge intelligence tools for commercial and industrial IoT. These investments are expected to drive adoption of these tools and related services.
Enterprises Will Massively Adopt Edge Solutions As IoT Connected Device Deployments Increase
Based on company, the market is segmented into SMEs and large companies. The large enterprise segment is projected to hold a large market share in the coming years. The production of IoT connected devices is increasing. Businesses need edge solutions to compute generated data, enable rapid delivery of information, and improve the customer experience.
Smart Cities Adopt Maximum Edge Solutions To Work Effectively
Based on application, the market is segmented into smart cities, IoT applications, robotics and automation, predictive maintenance, remote monitoring, and others. The smart city segment will register a robust CAGR during the forecast period. These cities are functioning effectively by using edge computing-enabled technologies such as IoT and 5G systems. This is driving demand for edge solutions in smart cities.
Increasing business complexity puts IT and telecom in the lead
In terms of industries, the market covers manufacturing, oil & gas, healthcare, BFSI, IT & telecommunications, retail, automotive, and others. The IT and telecom segment will capture a significant market share in 2022. The pandemic has changed the day-to-day operations of many companies, forcing them to move most of their processes to the cloud. IT and telecommunications departments are rapidly adopting cloud systems to store data. More companies are opting for cloud solutions, which increases the amount of data they generate. This has created a need for immediate processing and curbed the adoption of cloud computing processes.
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Regional Insights:
North America will create the largest edge computing market share in 2022. The market is home to a number of leading-edge computing service providers, primarily based in the United States. These companies include IBM, Intel, and Microsoft. These organizations have expanded their presence and customer base across the region through mergers and acquisitions with smaller companies.
Competitive environment:
Mergers and acquisitions that companies use to gain a competitive edge
Companies involved in global markets sign merger and acquisition agreements to enhance their competitiveness in the market. They use this strategy to combine their unique capabilities with the expertise of the companies they acquire or merge. Products developed from this strategy can meet the changing requirements of users.
List of key companies profiled in the report
- IBM Corporation (USA)
- Intel Corporation (USA)
- Amazon.com, Inc. (United States)
- Google LLC (United States)
- Microsoft Corporation (USA)
- ADLINK Technology Inc. (Taiwan)
- Hewlett Packard Enterprise Development LP (USA)
- Cisco Systems, Inc. (USA)
- Huawei Technologies Co., Ltd. (United States)
- EdgeConneX Inc. (USA)
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Main table of contents:
- Global Edge Computing Market Size Estimates and Forecasts, by Segment, 2019-2030
- Main findings
- By Component (USD)
- hardware
- Application software
- Edge cloud infrastructure
- service
- Communication network
- By company type (USD)
- Small and medium-sized enterprises
- Large companies
- By Application (USD)
- IoT application
- Robotics & Automation
- predictive maintenance
- remote monitoring
- smart city
- others
- Industry (USD)
- manufacturing industry
- oil gas
- BFSIMore
- health care
- retail
- IT & Telecom
- car
- others
- By Region (USD)
- North America
- south america
- Europe
- Middle East and Africa
- Asia Pacific
- North America Edge Computing Market Size Estimates and Forecasts, By Segment, 2019-2030
- Main findings
- By Component (USD)
- hardware
- Application software
- Edge cloud infrastructure
- service
- Communication network
- By company type (USD)
- Small and medium-sized enterprises
- Large companies
- By Application (USD)
- IoT application
- Robotics & Automation
- predictive maintenance
- remote monitoring
- smart city
- others
- Industry (USD)
- manufacturing industry
- oil gas
- BFSIMore
- health care
- retail
- IT & Telecom
- car
- others
- By Country (USD)
- America
- Canada
- Mexico
Continued TOC…
FAQ
What is the size of the edge computing market in the US?
The market size of edge computing is valued at USD 4.13 billion in 2022.
What is the growth of the edge computing market?
The global edge computing market is expected to grow at a CAGR of 36.3% over the forecast period 2023-2030.
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