WASHINGTON, Dec. 14, 2022 (GLOBE NEWSWIRE) -- The Global Edge Computing Market is valued at $ 7.1 Billion in 2021 and is projected to reach a value of $ 49.6 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 38.2% over the forecast period 2022-2028. One of the most significant economic areas is the Edge Computing Market business, and consistent expansion is projected going forward. Despite the industry's turmoil, numerous things could affect its development or demise. This study assesses both the current trends and the anticipated future changes to provide a full insight of the sector. Additionally, it provides details on the significant industry players and their expansion strategies.
The report provides a thorough analysis of international producers and suppliers, as well as their current situation and future prospects. It also goes into detail about the global drivers of the demand for Edge Computing Market, including rising investment requirements, developing technology, and new laws.
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Market Overview
According to Vantage Market Research, some of the key factors anticipated expediting the Edge Computing Market growth over the forecast period. The main factors favorably affecting the need for Edge Computing Market are the increased usage of cloud computing and storage solution and the significant influence of IoT in recent days.
North America dominates the market, and this trend will remain for the projection. IIoT and Edge Computing Market working together is making it easier for American businesses to switch to link manufacturing. Additionally, many companies have formed to supply the necessary infrastructure for creating edge-enabled solutions, which are anticipated to fuel market expansion in the area. For instance, Telus Communications and MobiledgeX, Inc. collaborate to create the MobiledgeX Early Access Project. Programmers may now develop, test, and assess the efficacy of edge-enabled apps in a constrained environment thanks to the initiative. The demand for Edge Computing Market solutions in North America is driven by the increased usage of connected devices like smartphones, tablets, and iPads.
Major businesses are concentrating on releasing Edge Computing Market products to get a competitive edge in the industry. For diverse enterprises in the 5G era, IBM Corporation and Red Hat, Inc. introduced new Edge Computing Market solutions in May 2020, including IBM Edge Application Manager and IBM Telco Network Cloud Manager. These products aid businesses in hastening their shift to Edge Computing Market.
Market Dynamics
Rising Implementation of IoT across Industries to Drive the Market
Data has significantly increased due to the proliferation of linked devices and the Internet of Things (IoT). This is fueling the desire for quick access to and analysis of data. As a result, companies depend on centralized cloud computing and storage solutions evermore. Edge Computing Market solutions, including edge nodes, devices, and hyper-localized data centers, are gaining popularity among businesses that deploy IoT sensors, actuators, and other IoT devices. Additionally, Edge Computing Market enhances the current cloud paradigm by moving data processing closer to the data source, enabling businesses to make choices more quickly. Therefore, one of the significant factors projected to increase the demand for Edge Computing Market throughout the forecast period is the expansion in IoT adoption across industries.
The advent of the 5G Network to Promote Market Growth
Edge Computing Market is projected to benefit significantly from the ongoing growth of 5G networks and their progression. With the introduction of the 5G network, the number of linked devices is likely to expand significantly. In addition, a considerable data burden is anticipated on physical data centers by connected devices and 5G networks, increasing the demand for capacity and decreasing latency. As a result, the market is expected to experience substantial development prospects for all these reasons.
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Top Players in the Global Edge Computing Market
- Cisco (US)
- HPE (US)
- Huawei (China)
- IBM(US)
- Dell Technologies (US)
- Nokia (Finland)
- Litmus Automation (US)
- AWS (US)
- Foghorn (US)
- Microsoft (US)
- VMWare (US)
- SixSq (Switzerland)
- EdgeIQ (US)
- Saguna (Isreal)
- Vapour IO (US)
For Additional Information on Edge Computing Market Players and Detail List, Download a Report PDF Brochure
Top Trends in Global Edge Computing Market
- One trend that Vantage Market Research (VMR) expects to see in the Edge Computing Market industry is that IoT security solutions are increasingly being adopted to increase the security and adaptability of internet communications. The Internet of Things (IoT) market has grown significantly over the past few years and is likely to continue growing in the years to come. The number of internet-connected gadgets keeps expanding, and as a result, they produce an enormous amount of data. As a result, there is a rising need to handle and analyze this data more quickly.
- Another trend that VMR predicts will continue in the Edge Computing Market industry is the expansion of 2G, 3G, and 4G Long-Term Evolution (LTE) wireless networks and the development of technologies.
Recent Development:
- February 2022, Asana, a work management platform provider, released Asana Flow, a complete range of solutions that businesses can use to build, run, and enhance their workflows.
- January 2022, Amazon Web Services (AWS) announced the general availability of its new Amazon Elastic Compute Cloud (Amazon EC2) Hpc6a instances. These "purpose-built" EC2 instances leverage 3rd Gen AMD EPYC CPUs to process high-performance computing (HPC) workloads at what Amazon claims.
Top Report Findings
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Top 10 Players Generate Greater Part of the Global Edge Computing Market Revenue
Few large-scale players control most of the market share in the condensed Global Edge Computing Market. Most businesses invest heavily in thorough research and development, mainly to launch cutting-edge products. The leading companies in this market include Cisco, HPE, Huawei, IBM, Dell Technologies, Nokia, Litmus Automation, AWS, Foghorn, Microsoft, VMWare, SixSq, EdgeIQ, Saguna, and Vapour IO. Key players' primary tactics include expanding their product portfolios & immersing in acquisitions and mergers.
Industrial Internet of Things (IIoT) Category in Edge Computing Market to Generate more than 28% Revenue
The Industrial Internet of Things (IIoT) sector dominated the Edge Computing Market. In 2021, the sector attracted a revenue share of above 28 percent. For manufacturers to achieve the aim of digitization their facilities, Edge Computing Market has been crucial. The manufacturing industry in the device edge has a sizable installed base for Edge Computing Market. As services become more complex and the infrastructure edge is made more accessible, it is anticipated that demand for edge infrastructure will rise.
A framework for manufacturing modernization in light of industry disruptions is made by the Industry 4.0 effort, clearing the way for edge deployment. By utilizing technologies that integrate cyber and physical systems, Industry 4.0 promotes operational agility. Smart factories can use an edge platform to provide only processed data to their cloud solutions. By doing local data analysis and transferring compiled data to the cloud, the edge serves as a path.
Browse market data Tables and Figures spread through 144 Pages and in-depth TOC on Edge Computing Market Forecast Report (2022-2028).
Global Edge Computing Market Segmentation
By Components
- Hardware
- Software
- Services
By Application
- Smart Cities
- Industrial Internet of Things (IIoT)
- Remote Monitoring
- Content Delivery
- Augmented Reality (AR) and Virtual Reality (VR)
- Others (autonomous vehicles, drones, and gaming)
By Organization Size
- Large Enterprises
- SMEs
By Verticals
- Manufacturing
- Energy and Utilities
- Government and Defense
- Telecommunications Media and Entertainment
- Retail and Consumer Goods
- Transportation and Logistics
- Healthcare and Life Sciences
- Others (BFSI and Education)
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Regional Analysis:
- The North American Edge Computing market grew rapidly. Start-ups and significant market players declare developed countries like the United States home. Consumer disposable income is rising, and edge computing-based products such as electric automobiles, fitness trackers, and smart home gadgets are becoming more popular. Similarly, in the coming years, the growth of the Edge Computing market is foretold to show a significant increase in the use of dietary products, such in North America and Europe.
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 7.1 Billion |
| Revenue Forecast by 2028 | USD 49.6 Billion |
| CAGR | 38.2% from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players | Cisco, HPE, Huawei, IBM, Dell Technologies, Nokia, Litmus Automation, AWS, Foghorn, Microsoft, VMWare, SixSq, EdgeIQ, Saguna, Vapour IO |
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