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Edge Computing Market size surpassed USD 7 billion in 2021 and is estimated to grow at over 25% CAGR from 2022 to 2030.
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The market growth is attributed to a growing demand for monitoring IoT devices in real-time to bring enterprise applications closer to the data sources along with remote infrastructure administration capabilities of edge computing. Companies operating in the market are developing advanced & integrated IoT solutions for their customers.
During the COVID-19 pandemic, many computing solution providers have shifted their spending to fulfill the growing internet traffic. On recovering from the global outbreak, companies have started investing in edge computing hardware & solutions, resulting in a positive impact on the edge computing industry.
Report Coverage | Details |
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Base Year: | 2021 |
Market Size in 2021: | 7 Billion (USD) |
Forecast Period: | 2022 to 2030 |
Forecast Period 2022 to 2030 CAGR: | 25% |
2030 Value Projection: | 60 Billion (USD) |
Historical Data for: | 2018 to 2021 |
No. of Pages: | 367 |
Tables, Charts & Figures: | 444 |
Segments covered: | Component, Application, Enterprise Size, Industry Vertical and Region |
Growth Drivers: |
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Pitfalls & Challenges: |
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In Canada, edge computing hardware captured more than 50% of the revenue share in 2021 due to the increasing usage of IoT and IIoT sensors & components across different end-user applications. To cope with the amount of data generated, edge computing hardware is used to minimize the burden on cloud & data centers. This hardware is compact, has sufficient storage, and allows real-time data processing with better connectivity & power range. This hardware component is gaining more popularity owing to the real-time processing that enhances quick decision-making capabilities.
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The AR/VR application in the UK is anticipated to witness around 25% gains through 2030. Growing digitalization across different sectors including entertainment & media, gaming, and healthcare is fueling the AR/VR share in edge computing market. Edge computing provides high-end VR and AR experiences by utilizing edge computing capabilities. It allows low latency with high-end graphical performance. To avail the benefits of edge computing for the advancement of AR/VR, several industry players are emphasizing on the innovation of different edge-based solutions.
Large enterprises in China held about 80% of the edge computing market share in 2021 driven by the growing penetration of public cloud computing services in large enterprises. The demand for low latency and reliable data access across enterprises is another factor aiding the development of a robust edge infrastructure. Market players collaborate to develop advanced network monitoring solutions for large enterprises.
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The healthcare industry in India is poised to register nearly 35% growth between 2022 and 2030 compelled by an extensive penetration of connected medical devices and the growing demand for effective network management of IoT devices. With the extensive acceptance of medical devices, the need to ensure efficient medical service delivery is enabling the usage of edge computing components. Several healthcare enterprises are focusing on improving security and enhancing operational efficiency by leveraging advanced edge computing solutions.
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North America edge computing market size is projected to account for approximately USD 15 billion by 2030. The presence of software giants, such as AWS, Google, IBM Corporation & Microsoft, and an increasing number of IoT & intelligent applications are accelerating the regional growth. North America, one of the early adopters of edge computing technology, has numerous edge computing vendors, ranging from multinational companies to regional start-ups.
The major factor driving the demand for cloud solutions is the increasing investments in digital infrastructure by technological giants, such as Google & Facebook, along with start-ups. Facebook is actively focusing on Merger & Acquisition (M&A) activities and collaborating with AI-based start-ups to acquire talent & technical expertise.
Industry participants are emphasizing on strategic partnerships for the development of innovative edge computing solutions. For instance, in March 2022, AWS and VMware collaborated to develop new edge computing & 5G solutions. The companies are focused on working & optimizing network traffic, operations & automation, and providing a superior end-user experience.
Some of the key edge computing market players are ADLINK Technologies, Inc., Amazon Web Services, Inc. (Amazon.com, Inc.), Cisco Systems, Inc., ClearBlade, Inc., Cloudera, Inc., Dell Technologies, Inc., Google, LLC, Hitachi Vantara Corporation (Hitachi, Ltd.), Hewlett Packard Enterprise Company, Huawei Technologies Co., Ltd., IBM Corporation, Intel Corporation, Microsoft Corporation, Nutanix, Inc., Oracle Corporation, Redis Labs Inc., Saguna Networks, Ltd., SAP SE, and Siemens AG.
Market, By Component
Market, By Application
Market, By Enterprise Size
Market, By Industry Vertical
The above information has been provided for the following regions and countries: