by on June 7, 2024
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The Edge Computing market was valued at US$ 8.93 billion, and it is expected to grow to US$ 85.96 billion by 2029. This growth is driven by the increasing need for efficient data processing closer to the source, reducing latency and bandwidth use, and enabling real-time analytics and decision-making.

Market Overview

The global edge computing market was valued at US$ 8.93 billion in 2022 and is projected to grow at a remarkable CAGR of 38.2%, reaching US$ 85.96 billion by 2029. Edge computing represents a paradigm shift in IT infrastructure management, connectivity, application development, traffic delivery, and service management. By integrating hardware, software, and networking architecture, edge computing supports a broad array of use cases across multiple industries. The nascent stage of edge technology suggests significant growth potential for new market entrants, as research, deployment, and operational models continue to evolve.

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Report Scope

The report on the edge computing market offers a comprehensive analysis of market trends, growth drivers, challenges, and opportunities. It covers various segments of the market, including hardware, software, and services, and analyzes their performance across different regions. The report also examines the competitive landscape, profiling key players and their strategies to gain market share. Additionally, it provides insights into market dynamics and future outlook, helping stakeholders make informed decisions.

Research Methodology

The research methodology for this report includes both primary and secondary data collection. Primary research involved interviews with industry experts, key opinion leaders, and executives from leading companies in the edge computing market. Secondary research included a thorough review of relevant literature, industry reports, company websites, annual reports, and financial reports. Data analysis was performed using advanced statistical tools to ensure accuracy and reliability of the market forecasts.

Drivers

Several factors are driving the growth of the edge computing market:

  1. Increasing Data Generation: The proliferation of IoT devices and the growing need for real-time data processing are major drivers. Edge computing reduces the latency associated with cloud computing, enabling faster data processing and decision-making at the source.

  2. Bandwidth Efficiency: By processing data locally, edge computing reduces the amount of data transmitted to central data centers, conserving bandwidth and reducing costs.

  3. Improved Performance: Edge computing enhances the performance of applications that require low latency and high-speed data processing, such as autonomous vehicles, smart grids, and industrial automation.

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Market Segmentation

 

by Component

Service
Solutions
Hardware
Platform

by Application

Smart Cities
Analytics
Location Services
Data Caching
Augmented Reality
Optimized Local Content
Environmental Monitoring
Others

by Organization Size

Small & Medium Enterprises
Large Enterprises

by Vertical

Manufacturing
Transportation
Healthcare
Media & Entertainment
Telecom & IT
Government & Public
Energy & Utilities
Retail
Others

Regional Insights

 

  • North America: Leading the market with advanced technological infrastructure, significant investments in R&D, and the presence of major market players. The U.S. and Canada are the primary contributors to the market growth in this region.

  • Europe: Demonstrates substantial growth due to increasing adoption of IoT and smart city projects. Countries like Germany, the UK, and France are at the forefront of adopting edge computing technologies.

  • Asia-Pacific: Expected to witness the highest growth rate during the forecast period. Rapid industrialization, urbanization, and increasing investments in smart infrastructure projects in countries like China, Japan, and India drive market expansion.

  • Latin America: Emerging market with growing awareness and adoption of edge computing solutions, particularly in Brazil and Mexico.

  • Middle East & Africa: Gradually adopting edge computing technologies, driven by smart city initiatives and the increasing use of IoT in various sectors.

 

Edge Computing Market Key Players

1. Huawei
2. Vasona Networks
3. Foghorn Systems
4. Cisco Systems
5. Dell
6. Machineshop
7. Nokia Networks
8. Sixsq
9. Saguna Networks
10.Aricent
11.Adilink Technology
12.Juniper Networks, Inc.
13.Hewlett Packard Enterprise Development LP
14.SixSq Sàrl (Switzerland), FogHorn Systems
15.MachineShop Inc.
16.Vapor IO (US)
17.Xiotech Corporation
18.Mirror Image
19.Microsoft Corporation
20.IBM Corporation
21.Cisco Systems Inc.
22.Google Inc.
23.Hewlett Packard Enterprise Company
24.Intel Corporation
25.Schneider Electric SE

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Key questions answered in the Edge Computing Market are:

  • What is Edge Computing?
  • What are the factors driving the Edge Computing Market growth?
  • What are the factors are limiting the Edge Computing Market growth?
  • Which trends are expected to generate additional revenue for the Edge Computing market growth?
  • What are the recent industry trends that can be implemented to generate additional revenue streams for the Edge Computing Market?
  • What growth strategies are the players considering to increase their foothold in the Edge Computing Market?
  • Who held the largest market share in the Edge Computing Market?

Key Offerings:

  • Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
  • Market Segmentation – A detailed analysis by segment with their sub-segments and Region
  • Competitive Landscape – Profiles of selected key players by region from a strategic perspective
  • Competitive landscape – Market Leaders, Market Followers, Regional player
  • Competitive benchmarking of key players by region
  • PESTLE Analysis
  • PORTER’s analysis
  • Value chain and supply chain analysis
  • Legal Aspects of business by region
  • Lucrative business opportunities with SWOT analysis
  • Recommendations

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