PUBLISHER: 360iResearch | PRODUCT CODE: 1470406
PUBLISHER: 360iResearch | PRODUCT CODE: 1470406
[180 Pages Report] The Edge Computing Market size was estimated at USD 6.01 billion in 2023 and expected to reach USD 7.27 billion in 2024, at a CAGR 20.96% to reach USD 22.79 billion by 2030.
Edge computing is the rapidly growing ecosystem of technologies, solutions, and services that facilitate data processing, storage, and analytics. Edge computing enables real-time decision-making, reduces latency, enhances data security, and optimizes system performance. The increasing adoption of IoT devices and the rapid expansion of 5G networks increase the need for edge computing. However, high initial investment costs and a lack of technical expertise among IT professionals are restraining the market growth. Furthermore, advancements in managing complex edge infrastructure and increased demand for low-latency applications such as autonomous vehicles and augmented reality are expected to generate lucrative opportunities for the edge computing market.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 6.01 billion |
Estimated Year [2024] | USD 7.27 billion |
Forecast Year [2030] | USD 22.79 billion |
CAGR (%) | 20.96% |
Component: Extensive adoption of software for efficient management and orchestration of resources
In edge computing, hardware components are essential for seamless data processing and storage closer to the source. Some popular edge hardware devices are servers, gateways, routers, and switches - these devices empower businesses for quick decisions based on real-time data analytics. Edge computing services include consulting, system integration, maintenance & support, and managed services. Software is a crucial component in the edge computing ecosystem as it enables efficient management and orchestration of resources at the edge level. The software suite allows companies to develop and deploy applications at the edge more efficiently, ensuring minimal latency and enhanced security.
Application: Growing preference of analytics to ensure faster, data-driven decisions
In edge computing, analytics play a crucial role in processing and analyzing data closer to its source. This helps organizations make faster, data-driven decisions while reducing bandwidth and storage requirements. Augmented reality (AR) has grown rapidly in gaming, healthcare, retail, and manufacturing. Location services are essential for many applications such as navigation systems, location-based advertising campaigns, asset tracking solutions, and IoT device management in smart cities contexts. In real-time, smart cities leverage edge computing to collect, and analyze the data generated by IoT devices including sensors and cameras.
End-Use: Wide use of edge computing in healthcare and life sciences for real-time patient monitoring
Edge computing transforms the energy and utilities sector by enabling real-time analytics, improved grid management, and enhanced security. In government and defense applications, edge computing provides secure communication channels, better data processing capabilities, and faster response times during critical missions. Healthcare and life sciences benefit from edge computing through real-time patient monitoring, early detection of diseases, streamlined clinical trial processes, and remote diagnostics enabled by IoT devices. Edge computing has revolutionized manufacturing by facilitating automation, predictive maintenance, quality control measures through machine vision systems, and real-time data analysis on factory floors. Retailers leverage edge computing for inventory management, personalized in-store experiences, smart shelf systems, and loss prevention strategies. In telecommunications, edge computing plays a vital role in network function virtualization (NFV), software-defined networking (SDN), and facilitating the deployment of 5G networks. Edge computing revolutionizes transportation and logistics through real-time fleet tracking, driver assistance systems, and traffic management solutions.
Regional Insights
The edge computing market in the Americas is witnessing significant traction, driven by the increasing demand for low-latency processing and real-time automated decision-making solutions. The well-established technological infrastructure and early adoption of advanced technologies, including IoT and AI in the Americas are expanding the innovations and developments in edge computing. Europe's edge computing market is characterized by rapid growth in sectors such as manufacturing automation and smart city projects. The European Union's Horizon 2020 initiative includes funding for research on edge cloud architectures. Meanwhile, despite being relatively nascent in the Middle East & Africa region, there is an increased focus on improving connectivity through partnerships between local governments and international tech firms. The Asia Pacific region exhibits a high potential for edge computing market growth, fueled by rapid urbanization and significant investments in emerging technologies. Expanding digital economies, increased government focus on smart city projects, and growing adoption of Industrial IoT is expected to bolster the edge computing market in the Asia-Pacific.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Edge Computing Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Edge Computing Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Edge Computing Market, highlighting leading vendors and their innovative profiles. These include ADLINK Technology Inc., Amazon Web Services, Inc., Axellio, Azion Technologies Ltd., Cisco Systems, Inc., ClearBlade, Inc., Dell Inc., Digi International Inc., EdgeConneX Inc., General Electric Company, Google LLC, Hewlett Packard Enterprise Development LP, Huawei Technologies Co., Ltd., Intel Corporation, International Business Machines Corporation, Juniper Networks, Inc., Litmus Automation Inc., Microsoft Corporation, Moxa Inc., Saguna Networks Ltd., and Schneider Electric.
Market Segmentation & Coverage
1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
1. What is the market size and forecast of the Edge Computing Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Edge Computing Market?
3. What are the technology trends and regulatory frameworks in the Edge Computing Market?
4. What is the market share of the leading vendors in the Edge Computing Market?
5. Which modes and strategic moves are suitable for entering the Edge Computing Market?