Edge Computing Market Analysis

Edge Computing Market Analysis

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Based on enterprise size, the edge computing market is divided into large enterprises and SMEs. The large enterprises segment held a market share of over 81% in 2022. New edge computing launches have increased the popularity of the IC drive type in the market. They often integrate advanced IC propulsion systems, enhancing maneuverability and efficiency. For instance, in August 2023, Hurricane Edge Computing, renowned for its adaptable edge computing concepts, launched the SunDeck 2600, a new hull for the model year 2023. This outboard edge computing presents water enthusiasts with an expansive layout, ensuring a secure & steady surface and complemented by the potency & efficiency needed for an exciting aquatic experience.
 

Based on industry vertical, the edge computing market is categorized into IT & telecommunication, BFSI, government, healthcare, retail, manufacturing, utility, and others. The manufacturing segment held a market share of 27% in 2022. The integration of edge computing within Industry 4.0 is accelerating the manufacturing sector's adoption of edge solutions. Industry 4.0's emphasis on smart factory and interconnected processes aligns with edge computing's ability to process data locally, enabling real-time insights and predictive maintenance on the factory floor. This convergence empowers manufacturers to achieve operational efficiency, enhance quality control, and streamline production processes, propelling the adoption of edge computing within the manufacturing industry.
 

North America dominated the global edge computing market with a major share of over 34% in 2022. Strategic partnerships have emerged as a prominent force in propelling the North America edge computing industry. For instance, in February 2023, Kyndryl, a provider of IT infrastructure services, and Nokia, a well-known name in networking technology, revealed a three-year extension and broadening of their global network & edge collaboration. The partnership emphasizes the advancement & provision of cutting-edge LTE and 5G private wireless services, along with Industry 4.0 solutions, to a global customer base. By offering integrated and customized solutions, strategic partnerships accelerate adoption to address industry-specific needs, further boosting the North America edge computing business.