Edge Computing Market Overview:
Global Market for Edge Computing is estimated to reach USD 22,453.9 million by 2024, registering a 28.4% CAGR during the forecast periodof 2018 to 2024
Edge computing is slated to witness significant growth in the coming years owing to the remarkable rise in the number of smart applications. Edge computing, coupled with the 5G boom in various industries, as the need for faster data processing is growing. Industrial Verticals like consumer electronics and healthcare are in demand for high-speed data processing at the edge or source of the data generation. It is projected that microdata centers will be organized near to or onto the 5G network tower to empower edge computing.
The growing spread of the Internet of Things (IoT) and growing security concerns at public places are driving market growth. The IoT trend is poised to gain higher demand in the coming years, considering the organization’s initiatives for digital transformation. The rapid growth and increasing adoption of IoT within organizations are estimated to aid the Edge Computing Market.
An increase in several high computing connected mobile devices, owing to IoT, has allowed organizations to collect and store large volumes of complex data in the repository. This has further augmented the need to process, store, and examine the data to achieve specific tasks, therefore driving the demand for edge computing applications.
Though, acquiring talent and expertise, that better understand edge computing technology, the multifaceted infrastructure of edge computing network, and addressing the rising number of cyber-attacks intimidating the privacy and security of the data are some of the trials for the market players offering edge computing solutions that may limit the market growth in the coming years.
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Major Key Players:
MRFR recognizes the key players in the global edge computing market as Amazon, Inc., General Electric Company, Microsoft Corporation, Intel Corporation, SAP SE, Alphabet Inc., Schneider Electric SE, IBM Corporation, Huawei Technologies Co. Ltd., Integrated Device Technology, Inc., ADLINK Technology Inc., eInfochips, EdgeConnex Inc., The Hewlett Packard Enterprise Company, Fujitsu Ltd, Siemens AG, ZenLayer Inc., Yokogawa Electric Corporation, Rittal GmbH & Co. KG, ABB Ltd, and Advanced Micro Devices, Inc.
Edge Computing Market Segmental Analysis:
- By technology, the market has been segmented into mobile edge computing and fog computing.
- By deployment, the market has been segmented into on-premise and cloud.
- By component, the market has been segmented into hardware, software, and solutions.
- By application, the market has been segmented into IoT, data caching, analytics, environment monitoring, augmented reality, location services, and others
- By vertical, the market has been segmented into transportation, energy & utilities, healthcare, manufacturing, semiconductor, government, IT & telecommunication, retail, education, hospitality, and others.
Edge Computing Market Regional Analysis:
North America dominates the global market for edge computing and is closely followed by Europe. These regions are technologically advanced and have the presence of several leading market players who have contributed significantly to the technical advancements made. The deployment rate of cloud technology and IoT is high in these regions. In Europe, Germany leads to market growth for the region and holds the largest share.
The Asia-Pacific is set to expand at the fastest rate with the highest CAGR during the review period. Growing real-time applications of edge computing are a significant factor responsible for driving market growth. China holds the largest share of the regional market and is estimated to grow at the highest CAGR during the forecast period.
Table of Contents
1. Executive Summary
2.2 Scope of The Study
2.3 List of Assumptions
2.4 Market Structure
3. Market Insight
4.1 Research Process
4.2 Primary Research
4.3 Secondary Research
4.4 Market Size Estimation
4.5 Data Collection Tools
4.6 Market Size Estimation – Top-Down & Bottom-Up Approach
4.7 Forecast Model
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List of Table
Table 1 Market Synopsis
Table 2 List of Assumptions
Table 3 Global Edge Computing, By Technology, 2018–2023 (Usd Million)
Table 4 Global Edge Computing, By Deployment, 2018–2023 (Usd Million)
Table 5 Global Edge Computing, By Component, 2018–2023 (Usd Million)
List of Figure
Figure 1 Global Edge Computing: Market Structure
Figure 2 North America Market Size & Market Share by Country (2017 Vs 2023)
Figure 3 Europe Market Size & Market Share by Country (2017 Vs 2023)
Figure 4 Asia Pacific & Market Share by Country (2017 Vs 2023)
Figure 5 Rest of The World Market Size & Market Share by Country (2017 Vs 2023)
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