Edge Computing Market generated a revenue of USD 2,456 Million in 2019 and is expected to expand at a CAGR of 32.4% during forecast period (2020-2027), due to the growing adoption in various industries including manufacturing, IT, BFSI, and telecom.

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Key Drivers

The major factors driving the growth of the global edge computing market include the increase in the adoption of such technology by the telecommunication companies and the growing penetration of the digital transformation, which has resulted in an increase in the implementation of IoT across various organizations. In addition to this, an increase in the number of connected devices across the world and the inclination of the population towards the use of high-performance smartphone apps are some other factors that are proliferating the growth of the market during the forecast period. As per the report by Bloomberg, the Global Connected Cars Market is forecast to reach USD 56.3 billion by the end of 2026, exhibiting a CAGR of 19.0%, over the forecast period (2021-2026), which is expected to boost the Edge Computing Market Growth in the approaching years. Edge computing offers various benefits such as real time or faster data processing & analysis, decreases the latency, enhances privacy protection, improves scalability, increases application efficiency reduced network traffic, reduces costs, and increases application efficiency, among others. All these advantages are surging the demand for edge computing in the market worldwide.

Moreover, the development of high-speed networking technologies, such as 5G wireless, helps edge computing systems to support real-time applications, like self-driving cars, video processing and analytics, artificial intelligence (AI) and robotics will offer enormous opportunities to the market. Strategic initiatives undertaken by leading organizations such as Cisco, Intel, Microsoft, and Dell EMC, to develop infrastructure for edge computing deployments, will boost the market growth. For example, In January 2022, Verizon entered into a partnership with AWS to expand to 30% more metro area locations in the United States with mobile edge computing with the addition of Charlotte, Detroit, Los Angeles, and Minneapolis, in order to minimize the latency and network hops required to connect from an application hosted on the platform to the end user’s device. Moreover, an increase in the number of autonomous vehicles across various countries and the ability of edge computing to facilitate effective data management are the significant drivers that are bolstering the growth of the market. The factors which are responsible for hindering the growth of the global edge computing market include the rising concerns related to the security and privacy of the data and the presence of complex infrastructure of the edge computing network.

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Component Segment Analysis

Based on the component, the hardware segment is expected to grow at a higher compound annual growth rate during the forecast period owing to the increase in the utilization of hardware components such as sensors, gateways, and routers by technologies such as AMR and EDC. In addition to this, growing inclination towards the use of high-performance hardware components due to the increasing use of advanced technologies like machine learning and artificial intelligence across various verticals are further bolstering the growth of the segment.

Organization Size Segment Analysis

Based on the organization size, the large enterprises segment is projected to increase at a higher CAGR over the forecast period in the global edge computing market due to the growing demand for edge computing solutions as a result of an increase in the requirement of comparing the large volume of data generated in these enterprises.

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Regional Analysis

Based on the region, the Asia-Pacific region is anticipated to increase at a higher CAGR during the forecast period due to the growing penetration of the edge computing solutions across various countries such as Japan, China, and India, among others. Moreover, the rising adoption of various advanced technologies such as the increase in the number of IoT and connected infrastructure across this region and the growing number of small & medium-sized enterprises are some other factors that are driving the growth of the market in this region.

North America is estimated to lead the market during the forecast period, due to the accelerating penetration of connected devices such as smartphones, tablets, iPad. The growing emphasis of leading players on introducing edge computing solutions to gain a competitive edge in the market has paved the way for market. For instance, in May 2020, IBM Corporation entered into a partnership with Red Hat, Inc. new edge computing solutions for various enterprises in the 5G era. The solution will include IBM Edge Application Manager, IBM Telco Network Cloud Manager, and others in a bid to help organizations to increase their transition to edge computing.
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Various notable players operating in the market include Hewlett Packard Enterprise Development LP, Cisco Systems, Inc., Dell Inc., Huawei Technologies Co., Ltd., IBM, Nokia, FogHorn Systems, Amazon Web Services, Inc., MachineShop Inc, and Saguna Networks Ltd. among others. 

Key Developments:

• • In 2020, Cisco Systems, Inc. partnered with Microsoft for technologies targeting IoT and edge computing. Through this partnership, the companies planned to attract more customers by offering a deeper and broad product portfolio, which they could provide separately.
  • In 2019, Dell Inc. collaborated with AT&T on 5G Software Infrastructure and Open Source Edge Computing. The companies planned to explore the development of major open infrastructure technology areas for the next-generation network edge.

The global edge computing market has been segmented on the basis of component, application, organization size, vertical, and regions. Based on the component, the market is segmented into the platform, hardware, and services. Based on application, the market is segmented into the industrial internet of things, smart cities, content delivery, remote monitoring, augmented reality & virtual reality, and others. Based on organization size, the market is segmented into small & medium-sized enterprises and large enterprises. Based on vertical, the market is segmented into energy & utilities, manufacturing, telecommunications, government & defense, retail & consumer goods, media & entertainment, healthcare & lifesciences, transportation & logistics, and others. 

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Key questions answered in this research report:

• • At what pace is the global edge computing market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the edge computing market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global edge computing market?
  • Which component generated maximum revenues in 2019 and identify the most promising component during the forecast period?
  • What are the various application areas of the global edge computing market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Revenues (2019)	USD 2,456 Million
Market Base Year	2019
Market Forecast Period	2020-2027
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Component, By Application, By Organization Size, By Vertical, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Hewlett Packard Enterprise Development LP, Cisco Systems, Inc., Dell Inc., Huawei Technologies Co., Ltd., IBM, Nokia, FogHorn Systems, Amazon Web Services, Inc., MachineShop Inc, and Saguna Networks Ltd., among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Edge Computing Market by Component

• • Platform
  • Hardware
  • Services

Global Edge Computing Market by Application

• • Industrial Internet of Things
  • Smart Cities
  • Content Delivery
  • Remote Monitoring
  • Augmented Reality & Virtual Reality
  • Others

Global Edge Computing Market by Organization Size

• • Small & Medium-Sized Enterprises
  • Large Enterprises

Global Edge Computing Market by Vertical

• • Energy & Utilities
  • Manufacturing
  • Telecommunications
  • Government & Defense
  • Retail & Consumer Goods
  • Media & Entertainment
  • Healthcare & Lifesciences
  • Transportation & Logistics
  • Others

Global Edge Computing Market by Region

• • North America Edge Computing Market (Option 1: As a part of the free 25% customization)
    • North America Market by Component
    • North America Market by Application
    • North America Market by Organization Size
    • North America Market by Vertical
    • US Market All-Up
    • Canada Market All-Up
  • Europe Edge Computing Market (Option 2: As a part of the free 25% customization)
    • Europe Market by Component
    • Europe Market by Application
    • Europe Market by Organization Size
    • Europe Market by Vertical
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Edge Computing Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Market by Component
    • Asia-Pacific Market by Application
    • Asia-Pacific Market by Organization Size
    • Asia-Pacific Market by Vertical
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Edge Computing Market (Option 4: As a part of the free 25% customization)
    • RoW Market by Component
    • RoW Market by Application
    • RoW Market by Organization Size
    • RoW Market by Vertical
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Edge Computing Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Hewlett Packard Enterprise Development LP
  • Cisco Systems, Inc.
  • Dell Inc.
  • Huawei Technologies Co., Ltd.
  • IBM
  • Nokia
  • FogHorn Systems
  • Amazon Web Services, Inc.
  • MachineShop Inc
  • Saguna Networks Ltd.