Global Edge Computing Market is growing at a CAGR of ~16% during the forecast period (2022-2028): Ken Research
Global Edge Computing Market By Geography
The Global Edge Computing market is segmented by geography into North America, Europe, Asia- pacific and LAMEA. North America segment held the largest market share in 2022, The convergence of IIoT and edge computing is creating favorable conditions for manufacturers in the USA to transition to connected manufacturing.
Several startups have also emerged to provide platforms for building edge-enabled solutions, which are expected to help the regional market’s growth. For instance, the MobiledgeX Early Access Program was developed in cooperation between Telus Communications and MobiledgeX, Inc. The software has made it possible for programmers to create, test, and evaluate the effectiveness of edge-enabled apps in a low-latency setting.
Competition Scenario In Global Edge Computing Market
The global edge computing market is highly competitive with ~200 players which include globally diversified players, regional players, and country-niche players with their niche in the edge computing market.
County-niche players constitute ~45% of the market, while the regional players are the second largest by type. Some of the major players in the market include General Electric Company, IBM Corporation, Intel Corporation, Microsoft Corporation, SAP SE, Amazon Inc., Huawei Technologies Co. Ltd., Hewlett Packard Enterprise Development, Honeywell International Inc., Google LLC, and others.
What is the Expected Future Outlook for the Overall Global Edge Computing Market Across the globe?
The Global Edge Computing market was valued at USD ~8 billion in 2022 and is anticipated to reach USD ~ 20 billion by the end of 2028F, witnessing a CAGR of ~% during the forecast period 2022-2028F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.
The Global Edge Computing market is driven by the rollout of 5G and the rising demand for decentralized data processing capability. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.
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With the increasing collaboration and emergence of new products, the Global Edge Computing market is changing rapidly. For instance, In June 2022, SixSq announced their continued collaboration to provide Nuvla Marketplace users with intelligent sound-embedded software that can analyze particular sounds in any situation. The unique sound processing technology from Securaxis can now be purchased, deployed, and managed much more easily thanks to this agreement.
In May 2022, Litmus and Google Cloud collaborated to create the Manufacturing Connect platform, which simplifies the hard operation of collecting data from different industrial equipment and exposing it to Google Cloud data and Al applications. A factory edge platform called Manufacturing Connect is designed specifically to accommodate more than 250 machine communication protocols right out of the box. For advanced analytics and Al, data is organized, stored locally, and transmitted to Google Cloud. For closed loop Al, the platform can manage and deploy machine learning and AI models at the edge.
The global edge computing market is forecasted to continue the growth that is witnessed since 2017, edge computing is a method that handles data processing at the network’s edge. For instance, a mobile phone might be an edge device in the telecom industry. As a result, every device that produces data near the network’s edge serves as an edge device. The primary drivers of the growth of the worldwide edge computing market include variables like the rise in the number of intelligent apps and the increased global strain on cloud infrastructure. Though the market is highly competitive with ~200 players, few global players control the dominant market share and regional players also hold a significant market share.
Market Taxonomy
By Component
- Hardware
- Software
- Services
By Application
- IIoT
- Remote Monitoring
- AR/VR
- Content Delivery
- Others
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By End-User
- Manufacturing
- Energy & Utility
- Healthcare
- Telecommunications
- Retail
- Others
By Geography
- North America (USA, Canada, Mexico)
- Europe (Germany, UK, France, Spain, Italy)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Australia)
- LAMEA (Latin America, Middle East, Africa)
Leading Companies
- General Electric Company
- IBM Corporation
- Intel Corporation
- Microsoft Corporation
- SAP SE
- Amazon Inc.
- Huawei Technologies Co. Ltd.
- Hewlett Packard Enterprise Development
- Honeywell International Inc.
- Google LLC
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