Edge Computing Market

Global Edge Computing Market is valued at USD 2.86 Billion in 2021 and is expected to reach USD 69.1 Billion by 2028 with a CAGR of 33.56% over the forecast period.

Global Edge Computing Market: Global Size, Trends, Competitive, And Historical & Forecast Analysis, 2022-2028: Increase in the number of smart applications, growing adoption of IoT across industry verticals, and rising demand for automated decision-making solutions are some of the major factors driving the growth of the Global Edge Computing Market.

Scope of Global Edge Computing Market

Edge computing is a method of processing data at the network's edge. In telecommunications, for instance, a mobile phone might be an edge device. As a result, every device that produces data near the network's edge serves as an edge device. The primary reasons driving the development of the global edge computing market is a rise in the strain on cloud infrastructure internationally and an increase in the number of intelligent applications. Edge computing helps real-time applications analyze and process acquired data, which is also one of the key factors driving market demand. However, more localized hardware and greater maintenance costs are projected to stymie the expansion of the edge computing sector. Furthermore, the introduction of the 5G network, as well as multiple frameworks and languages for IoT solutions, are likely to give the significant potential for market expansion in the future years. Edge computing is in its early stages of development. Although its deployment and operation models have yet to emerge, edge computing is likely to provide considerable growth opportunities for new entrants in the near future.

The emergence of COVID-19 has increased the utilization of data centers and edge computing. In contrast, as more of these techniques are adopted, spending on them is projected to reduce significantly in the coming months. Businesses across several business verticals are cutting their expenditures or investments in strengthening software and servers to achieve significant cost savings. Outliers include increased edge and IoT investment in the telecom and healthcare sectors. Businesses take advantage of opportunities to adapt to the current environment by offering new services.

The global Edge Computing market is segmented based on the component, organization size, deployment mode, application, end-user, and region & country level. Based on components, the global edge computing market is segmented into Hardware, services, and solutions. By organization size, the market is segmented into large enterprises and SMEs. By deployment mode, the global Edge Computing market is segmented into on-premise and cloud. By applications, the global Edge Computing market is segmented into IIoT, remote monitoring, content delivery, video analytics, AR/VR, and others. By end-user, the global edge computing market is segmented into industrial, energy & utilities, healthcare, agriculture, transportation & logistics, retail, and others.

The regions covered in the global Edge Computing market report are North America, Europe, Asia-Pacific, Latin America, and the rest of the World. Based on country level, the market of global Edge Computing is sub divided into U.S., Mexico, Canada, U.K., France, Germany, China, Italy, India, Japan, Southeast Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.

Global Edge Computing Market Segmentation

By Components:

• Hardware
• Services
• Solutions

By Organization Size:

• Large Enterprises
• SMEs

By Deployment Mode:

• On-Premise
• Cloud

By Applications:

• IIoT
• Remote Monitoring
• Content Delivery
• Video Analytics
• AR/VR
• Others

By End-User:

• Industrial
• Energy & Utilities
• Healthcare
• Agriculture
• Transportation & Logistics
• Retail
• Others

Key Players of Global Edge Computing Market

Some major key players for the global Edge Computing market report cover prominent players like

• ABB
• Amazon Web Services (AWS)
• IBM Corporation
• Siemens AG
• Atos
• Aricent
• Hewlett Packard Enterprise Development
• General Electric Company
• Huawei
• Cisco Systems
• Honeywell International Inc.
• Technologies Co
• Intel Corporation
• SAP SE
• Rockwell Automation
• Microsoft Corporation
• others.

News

Lumen expands Edge Computing Solutions into Europe

On July 22^nd, 2022; Lumen Technologies announced its plans to extend  its Edge Computing Services into Europe with an aim to develop  its global Edge network by providing organizations with a low latency infrastructure to extend their high-bandwidth, data-intensive operations out to the cloud edge. This development is part of Lumen's continued commitment to next-generation technologies that change digital experiences and suit the needs of today's global enterprises.

5TONIC takes a further step towards Network as a Service

On May 27^th, 2022; 5TONIC, Telefónica and IMDEA Networks' open research and development laboratory focusing on 5G technologies, made a step to networks as a service by combining the 5G SA network and a multi-access edge computing system with Intel, Ericsson, DeepSight, Telefónica, and Capgemini Engineering.

Huawei and du Sign MoU on MEC Innovation

On March 1^dt, 2022; Huawei and Du have reached an agreement (MoU) to collaborate on multiaccess edge computing technologies. The two businesses would conduct MEC-related research, verification, and replication throughout the Middle East. The firms also want to drive digitalization in the Middle East while also contributing to the growth of the global digital economy.

Increase in the number of smart applications, growing adoption of IoT across industry verticals, and rising demand for automated decision-making solutions are some of the major factors driving the growth of the Global Edge Computing Market

The rising usage of IoT is boosted by 5G operations, which is significantly driving the market's development. A substantial portion of industrial IoT providers and aggregators provide 5G enabled network options, which are projected to embrace edge computing in the future years to handle the sheer volume of data. HPE, Dell, Cisco, and Huawei are among the major participants in the industry under consideration. Edge computing devices that adapt to tough working circumstances and operating settings at industrial sites, such as anti-dust, anti-electromagnetic interference, anti-vibration, anti-explosion, and anti-current/voltage fluctuations, have been developed. These firms are making considerable efforts in the edge computing sector to build the next big thing by forming alliances and releasing new products on a regular basis.

In today's business environment, organizations adopting cloud infrastructure must reduce both service access latency and data transmitted to the cloud. Latency in a computer system refers to the amount of time it takes for a data packet to transit. Lower latency means faster data delivery. Many applications, such as monitoring systems of oil and gas fields and industrial facilities, as well as content transmission, are also time-sensitive and need real-time processing. Edge computing decreases the latency of such applications by localized processing and allows real-time calculation for speedier decision-making. Furthermore, edge computing helps organizations improve application performance and business efficiency by decreasing operating expenses, which is accomplished by removing the costs associated with needless transmission to and storage at centralized servers or the cloud.

Edge computing is being driven by projects such as the OpenFog Consortium, which is led by business participants such as Intel, Cisco, Dell EMC, and Microsoft as well as academic institutions such as Purdue University and Princeton University. The consortium's goal is to provide reference designs for cloud and edge computing deployments. AWS and Verizon teamed in January 2022 to bring mobile edge computing to 30% of additional metro area cities in the United States, with the inclusion of Detroit, Charlotte, Minneapolis, and Los Angeles. The combination reduces the latency and network hops needed to connect from a platform-hosted application to the end user's device.

The integration of edge computing platforms and applications with the current cloud architecture has proved complicated. Since edge nodes have limited storage and computing capabilities, a well-equipped platform between the edge and the cloud is required, and with the growing usage of multi-cloud infrastructure and services within the organization, it appears difficult to find a reliable edge network to manage network traffic vertices.

North America is Expected to Capture a Major Share in the Global Edge Computing Market

Within the projected period, North America is likely to lead the worldwide Edge Computing market. The confluence of IIoT and edge computing is creating ideal circumstances for firms in the United States to transition to linked manufacturing. Several companies have also emerged to provide platforms for building edge-enabled solutions, which are expected to drive regional market development. Telus Communications and MobiledgeX, Inc., for example, work together to develop the MobiledgeX Early Access Programme. The initiative has enabled developers to create, test, and evaluate the effectiveness of edge-enabled apps in a low-latency environment.

Asia Pacific is predicted to expand at a rapid pace. China has made a promising start in terms of edge and 5G; a surveillance culture can define the way for technological growth. Multinational firms such as Apple, Meta, Google, and Netflix have impacted the worldwide digital economy by defining norms for targeting adverts using personal data. Chinese businesses like Baidu, Alibaba, ZTE, and Huawei are influencing the future of edge computing-powered surveillance technologies. Such efforts in China meet demand, and as a result, the nation has the biggest share in the area.

By Regional & Country Level

North America

• U.S
• Canada

Europe

• U.K.
• France
• Germany
• Italy

Asia Pacific

• China
• Japan
• India
• Southeast Asia

Latin America

• Brazil
• Mexico

Middle East and Africa

• GCC
• Africa
• Rest of Middle East and Africa

Report Analysis	Details
Historical data	2018 - 2021
Forecast Period	2021 - 2028
Market Size in 2021:	USD 2.86 Billion
Base year considered	2021
Forecast Period CAGR %:	33.56%
Market Size Expected in 2028:	USD 69.1 Billion
Tables, Charts & Figures:	175
Pages	300
Key Players/Companies	ABB, Amazon Web Services (AWS), Inc., IBM Corporation, Siemens AG, Atos, Aricent, Inc., Hewlett Packard Enterprise Development, General Electric Company, Huawei, Cisco Systems, Inc., Honeywell International Inc., Technologies Co., Ltd., Intel Corporation, SAP SE, Rockwell Automation, Inc, Microsoft Corporation, and others.
Segments Covered	By Components, By Organization Size, By Deployment Mode, By Applications, By End-User.
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa