Edge Computing Market Size, Share & Segmentation by Component (Hardware, Software, Services, Edge-managed Platforms), by Application (IIoT, Remote Monitoring, Content Delivery, Video Analytics, AR/VR, Others), by Industry Vertical (Industrial, Energy & Utilities, Healthcare, Agriculture, Transportation & Logistics, Retail, Datacenters, Wearables, Smart Cities, Smart Homes, Smart Buildings) by Regions and Global Market Forecast 2023-2030

Report Scope & Overview:

The Edge Computing Market size was valued at USD 8.51 Bn in 2022 and is expected to reach USD 103.84 Bn by 2030, and grow at a CAGR of 36.7% over the forecast period 2023-2030.

The computing device closest to the data source is called the edge. Peripheral computing devices are far from centralized in the cloud. Edge computing uses distributed processing power to enable mobile computing and Internet of Things (IoT) technologies. In the case of peripheral counting, the data is processed on the device, not in the data center. This technology helps to process data in real-time, accelerating the flow of data. Similarly, information technology can reduce the use of Internet traffic, allowing large amounts of data to be processed close to the data source.

On the one hand, virtualization affects data center hypervisors. However, the mobility of electronic devices, especially smartphones, has proven to be the most effective and useful tool in human life. The market is growing when it comes to desktop mobility and connected devices and sensors. Mobile devices, on the other hand, have significant hardware limitations. Mobile computers face many obstacles in managing the multitude of applications running on a single device with limited resources, such as battery, memory, and bandwidth. There are also communication issues such as mobility and security. Delivering resource-intensive application modules to remote servers via a cloud service platform is relevant to this issue.

Amazon Web Services (AWS) has announced the global expansion of its Local Zones program, which will see the company deliver cloud-based services from data centers at the network's edge, close to its customers. While it may appear counterintuitive for the world's largest cloud computing company to devote more resources to local services, the move reflects the interconnected nature of cloud and edge computing, as well as the extent to which Amazon and it is Big Tech competitors have been key proponents of the emerging edge ecosystem. Local Zones would provide "compute, storage, database, and other AWS services at the cloud's edge near the significant population, industrial, and IT centers," allowing the business to provide on-device data processing and ultra-low latency, which have long been touted as fundamental benefits of edge computing.

MARKET DYNAMICS:

KEY DRIVERS:

• The high impact of the IoT in recent days.

• Increasing the use of cloud computing and storage solutions.

RESTRAINTS:

• The high cost of the surrounding infrastructure.

• It costs more to protect your device and the entire network.

OPPORTUNITY:

• Growing consumer demand and technology development.

• The manufacturing company decides to invest in this new technology.

CHALLENGES:

• Limited storage and computing capacity for peripheral nodes that require a well-equipped edge-to-cloud system.

• Network traffic increases in several nodes.

IMPACT OF COVID-19:

As the unfolding of the pandemic has introduced a fine effect on the Edge Computing Market Growth. As there has been a lockdown carried out because human beings have been now no longer allowed to get out of their homes to keep away from the unfolding of the virus. Many governments have carried out this lockdown. Because of this, all of the manners become executed withinside the virtual method. This has created the call for the Edge Computing Market and improved the Edge Computing Market Size. As there has been improved utilization of the net in the latest times, many have created plenty of software programs which boosted the increase of the Edge Computing Market. Some of the programs have even evolved to assist withinside the fitness care centers. The manner is that permits the human beings to say their fitness troubles after which the physicians will attain the sufferers via way of means of getting the facts from the software program. Even at some point in the unfolding of the pandemic, it helped the fitness care employees to discover the facts about the coronavirus sufferers and deal with them effectively. Due to social distancing and the lockdown, using side computing has been improved. Even via way of means of the usage of AI side computing, many nations like China have deployed drones and robots withinside the fitness care sectors.

MARKET ESTIMATION:

In 2021, the server’s category accounted for a revenue share. Enterprises often own servers that handle edge apps, which are connected to devices through a private network and placed on-premises. Servers are being placed at a growing number of remote and edge locations, reducing the latency between data producers and consumers. In addition, as the telco edge evolves, telcos are developing a Multi-access Edge Computing (MEC) server architecture for data processing. The revenue share of edge sensors/routers is roughly growing. The need for edge routers is expanding as the number of data centers in various industrial verticals grows. The routers serve as a gateway between the local network and the wide-area network (WAN). The edge router is where all data packets enter the network to be sent. Furthermore, the edge router is ultimately responsible for the network's security, preventing illegal access requests. Edge data centers must be well-equipped with flexible and strong edge routers that can manage a huge volume of incoming traffic while maintaining low latency.

In 2021, the Industrial Internet of Things (IIoT) application category was the most profitable. Manufacturers have been able to accomplish digitalization of their facilities because to edge computing. A major portion of edge computing in the industrial industry is implemented in the form of device edge. As service complexity rises and the infrastructure edge becomes more accessible, demand for edge infrastructure capabilities is projected to rise. In addition, the industry 4.0 project establishes a framework for altering production in response to industry changes, opening the path for edge deployment. Industry 4.0 promotes operational agility via the use of technologies that bring physical and cyber systems closer together. Smart factories can use an edge platform to communicate only filtered data to their cloud solutions. By evaluating data locally and delivering summary data to the cloud, the edge serves as a gateway. In a smart factory, edge systems, for example, can proactively correct specific problems and then inform plant personnel to the difficulties on the manufacturing floor.

In 2021, the energy and utilities category had the biggest revenue share. Smart grids, which rely on device edge infrastructure, are likely to contribute to revenue growth in the energy and utility industry. In 2021, the healthcare industry will account for a large portion of total revenue. When it comes to digital technology adoption, the healthcare business has a reputation for being conservative. The sector is heavily regulated, and rather than blatant disruption, content-driven innovation is the norm. However, as the healthcare industry becomes more digital, hospitals and clinics are increasingly implementing digital health initiatives, with varying degrees of maturity and effectiveness.

KEY SEGMENTS:

On The Basis of Component

• Hardware

• Software

• Services

• Edge-managed Platforms

On The Basis of Application

• IIoT

• Remote Monitoring

• Content Delivery

• Video Analytics

• AR/VR

• Others

On The Basis of Industry Vertical

• Industrial

• Energy & Utilities

• Healthcare

• Agriculture

• Transportation & Logistics

• Retail

• Datacenters

• Wearables

• Smart Cities, Smart Homes, Smart Buildings

REGIONAL ANALYSIS:

North America, Europe, Asia Pacific, and the Rest of the World are the four regions that make up the global edge computing market. The Asia-Pacific region is expected to grow the greatest. Because Edge computing adds a layer of complexity to the organization by needing a varied collection of stakeholders for IT infrastructure, networking, application development, traffic transit, and managed services, North America will dominate the industry. Edge additionally blends hardware and software solutions, as well as networking architecture, to meet the needs of a wide range of sectors. Gaining an edge is likely to bring up a host of new commercial opportunities, as the technology is still in its infancy and its implementation and operational models have yet to improve.

REGIONAL COVERAGE:

• North America

  • USA

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • The Netherlands

  • Rest of Europe

• Asia-Pacific

  • Japan

  • south Korea

  • China

  • India

  • Australia

  • Rest of Asia-Pacific

• The Middle East & Africa

  • Israel

  • UAE

  • South Africa

  • Rest of Middle East & Africa

• Latin America

  • Brazil

  • Argentina

  • Rest of Latin America

KEY PLAYERS:

The major key players are Amazon web services (AWS), At&t inc., Cisco Systems inc., Dell inc., Fujitsu limited, Huawei technologies co. Ltd., IBM Corporation, Hewlett Packard Enterprise (hpe), Microsoft Corporation, Nokia corporation.

Frequently Asked Questions (FAQ) :