The Business Research Company’s report on the Edge Computing Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the key drivers behind the edge computing market’s growth in recent years?
The increasing adoption of the Internet of Things (IoT) is expected to propel the growth of the edge computing market going forward. Internet of Things (IoT) refers to the network of physical devices, vehicles, appliances, sensors, and other objects embedded with software, sensors, and connectivity that allow them to collect, exchange, and interact with data over the Internet. The increasing adoption of IoT is due to the growing need for automation efficiency and data-driven decision-making. As industries and consumers seek to improve operational efficiency and reduce human intervention, IoT enables the automation of various tasks by connecting devices and systems. Internet of Things (IoT) is closely integrated with edge computing to enable real-time data processing and decision-making at or near the source of data generation rather than relying on distant data centers. For instance, in January 2022, according to the GSM Association, a UK-based non-profit industry organization, the number of IoT connections overall is expected to exceed 23.3 billion by 2025, a significant rise from the 15.1 billion connections registered in 2021. Therefore, the increasing adoption of the Internet of Things (IoT) is driving the growth of the edge computing market.
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How does the future projection of the edge computing market size compare to its historical growth?
The edge computing market size has grown exponentially in recent years. It will grow from $31.35 billion in 2024 to $45.14 billion in 2025 at a compound annual growth rate (CAGR) of 44.0%. The growth in the historic period can be attributed to growing IoT and connected devices, increasing demand for low-latency processing, increasing data generation and real-time analytics, rising smart cities and smart infrastructure, and growing need for decentralized computing.
The edge computing market size is expected to see exponential growth in the next few years. It will grow to $194.42 billion in 2029 at a compound annual growth rate (CAGR) of 44.1%. The growth in the forecast period can be attributed to rising demand for low-latency data processing, surging smart cities and smart infrastructure projects, increasing use of autonomous vehicles and connected cars, increasing applications in healthcare and remote patient monitoring, and expanding roles in financial services and real-time fraud detection. Major trends in the forecast period include the integration of IoT and edge computing, a shift towards hybrid cloud and edge computing architectures, advancements in energy-efficient edge computing solutions, the adoption of edge computing in healthcare for remote monitoring, and the adoption of networking technology.
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Which key players are shaping the future of the edge computing market?
Major companies operating in the edge computing market are Microsoft Corporation, Amazon Web Services Inc, Dell Inc, Siemens AG, Lenovo Group Limited, Intel Corporation, International Business Machines Corporation, Cisco Systems Inc, Schneider Electric, Google Cloud, Hewlett Packard Enterprise (HPE), NVIDIA Corporation, Eaton Corporation plc, WINSYSTEMS Inc, Rockwell Automation, Super Micro Computer Inc, Advantech Co Ltd, ADLINK Technology Inc, Stratus Technologies, Scale Computing, Foghorn Consulting, ClearBlade, GE Digital
What trends will propel the growth and evolution of the edge computing market?
Major companies operating in the edge computing market are focusing on developing innovative products, such as next-gen edge gateway devices, to enhance real-time data processing, improve network efficiency, and enable seamless connectivity. A next-gen edge gateway device is a modern hardware solution that enables fast data processing and seamless communication between edge devices and cloud platforms, minimizing latency and improving network performance. For instance, in August 2022, Belden, a Germany-based leading supplier of specialty networking solutions, launched the OpEdge-8D, an industrial-grade edge gateway device designed for DIN rail mounting. Its seamless integration of IT (Information Technology) and OT (Operational Technology) enables organizations to connect their operational systems effectively with information systems. This next-gen edge gateway device supports deploying applications such as containers and virtual machines (VMs) at the network edge, allowing for real-time data processing and generating actionable insights, which helps optimize operational efficiency and streamline data management.
Which regions are expected to become dominant players in the edge computing market?
North America was the largest region in the edge computing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the edge computing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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What are the emerging key segments in the edge computing market, and how are they evolving?
The edge computing market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Technology: Mobile Edge Computing, Fog Computing
3) By Organization Size: Small And Medium-Sized Enterprises, Large Enterprises
4) By Application: Connected Cars, Smart Grids, Critical Infrastructure Monitoring, Traffic Management, Environmental Monitoring, Augmented Reality, Assets Tracking, Security And Surveillance
5) By End-User: Financial And Banking Industry, Retail, Healthcare And Life Sciences, Industrial, Energy And Utilities, Telecommunications, Other End-Users
Subsegments:
1) By Hardware: Edge Servers, Gateways, Routers, Processors: Sensors And Actuators, Networking Equipment
2) By Software: Edge AI Platforms, Edge Data Management Platforms, Edge Security Software, Network Management Software, Application Deployment And Orchestration Platforms
3) By Services: Professional Services, Managed Services
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What defines the structure and scope of the edge computing market?
Edge computing is a distributed computing framework that processes data closer to its source rather than relying on centralized data centers. This approach reduces latency, enhances real-time processing, and minimizes bandwidth usage by limiting data transmission to central servers. The primary purpose of edge computing is to improve response times, ensure data security, and support applications that require low latency and high processing speed.
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