Edge Computing Market Size, Share & Trends Analysis Report By Component, By Application, By Industry Vertical, By Region And Segment Forecasts From 2022 To 2030

Report ID: MN17616994  |  Published: October 2022  |  No of Pages: 254
Format: Electronic (PDF)  |  Industry: Computing & Technology

The global edge computing market size was accounted for USD 7.43 billion in 2021 and register a CAGR of 38.9% from 2022 to 2030. The demand for advanced connectivity technology, including 5G and 6G is set to drive investment in edge computing. The adaption of 5G technology is anticipated to take shape in the electronics sector in the near future, thus, solving issues such as system lags and poor network connectivity.

The demand for AI-based devices is one of the prominent factors driving the edge computing market. A variety of endpoint devices, such as cameras, smartphones, sensors, smartwatches, and other IoT devices are employing AI. Furthermore, the market for the Internet of Things (IoT) has grown significantly over the past few years and is expected to continue expanding in the forthcoming years.

As the number of internet-connected devices keeps growing, they will unceasingly produce an enormous amount of data. This creates a need to handle and analyze this data more quickly and efficiently. Although cloud computing is essential to the growth of the Internet of Things, it does not always meet the need for faster data processing. Moreover, maintaining and retrieving large amounts of data via the cloud is expensive. This is driving the demand for the edge computing market.

In today’s business scenario, minimizing service access latency has become the top priority. Low latency refers to faster data transmission. Several applications such as remote monitoring of gas and oil fields and content delivery demand efficient computing in real-time. Edge computing facilitates improved application performance and outcome and reduces operational costs, thus, eliminating unnecessary transmission and centralized storage costs.

In terms of component type, the hardware segment captured the maximum revenue share in 2021. The segment is booming in popularity and is attributed to the increasing number of IoT and IIoT devices. The hardware segment is further categorized into sensors/routers, edge nodes/gateways (servers), and others, wherein the edge nodes/gateways (servers) sub-segment held the largest market share.

Asia Pacific is anticipated to experience considerable growth from 2022 to 2030 as a result of the COVID-19 pandemic. The crisis mandated a greater emphasis on improving communications technology in the region. Robust computer architecture is required due to the region's rapid growth of the connected device ecosystem, which generates a large amount of data. The Global Mobile Edge Cloud (GMEC) concept, which is primarily targeted at the US market, was unveiled by Google Inc. The introduction of Azure Edge Zones by Microsoft Corporation is anticipated to spur growth in the area during the following years.

Edge Computing Market Report Key Takeaways 

  • Based on application, the AR/VR segment is set to showcase a lucrative growth rate. This can be ascribed to the application of edge computing in the development of enhanced radio infrastructure 
  • The data center industrial vertical segment is projected to register the highest CAGR during the forecast period as edge data centers have the ability to rectify unstable connections and store data effectively 
  • Geographically, North America dominated the market in 2021 due to the availability of necessary infrastructure and favorable conditions for the convergence of IIoT and edge computing 
  • Asia-Pacific region is projected to expand at the fastest growth rate from 2022 to 2030 owing to the advent of 5G technology and the rising number of IoT-incorporated devices. Furthermore, the development of telco-edge infrastructure to implement 5G-based applications is anticipated to fuel the overall market growth 
  • The key players have ramped up service development to gain a competitive edge and create a strong foothold in the global market. For instance, Asana, a provider of work management platforms had initiated the incorporation of a wide range of solutions to run their business in February 2022 



Edge Computing Market Segments

  • Edge Computing Component Outlook (Revenue, USD Billion, 2018 - 2030)
    • Hardware
      • Hardware by Type
        • Edge Nodes/Gateways (Servers)
        • Sensors/Routers
        • Others
      • Hardware by End Point Devices
        • Cameras
        • Drones
        • HMD
        • Robots
        • Others
    • Software
    • Services
    • Edge-managed Platforms
  • Edge Computing Application Outlook (Revenue, USD Billion, 2018 - 2030)
    • IIoT
    • Remote Monitoring
    • Content Delivery
    • Video Analytics
    • AR/VR
    • Others
  • Edge Computing Industry Vertical Outlook (Revenue, USD Billion, 2018 - 2030)
    • Industrial
    • Energy & Utility
    • Healthcare
    • Agriculture
    • Transportation & Logistics
    • Retail
    • Datacenters
    • Wearables
    • Smart Cities, Smart Homes, Smart Buildings
  • Edge Computing Regional Outlook (Revenue, USD Billion, 2018 - 2030)
    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • U.K.
    • Asia Pacific
      • China
      • India
      • Japan
    • Latin America
      • Brazil
      • Mexico
    • Middle East & Africa
  • List of Key Players in Edge Computing Market
    • ABB
    • Amazon Web Services (AWS), Inc.
    • Aricent, Inc.
    • Atos
    • Cisco Systems, Inc.
    • General Electric Company
    • Hewlett Packard Enterprise Development
    • Honeywell International Inc.
    • Huawei Technologies Co., Ltd.
    • IBM Corporation
    • Intel Corporation
    • Microsoft Corporation
    • Rockwell Automation, Inc
    • SAP SE
    • Siemens AG
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