Edge Computing Market Overview:
The Edge Computing market industry is projected to grow from USD 36.35 Billion in 2022 to USD 168.6 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 24.51% during the forecast period (2022 – 2030).
Edge computing refers to a decentralized computing model in which data processing and storage occur closer to the source of the data, rather than in centralized data centers. This enables faster data processing, reduced latency, improved security, and increased reliability. The global edge computing market is expected to grow at a significant rate in the coming years, driven by the increasing demand for real-time data processing and analysis in various industries.
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Key Companies in the Edge Computing market includes,
- General Electric Company
- Amazon Inc.
- Intel Corporation
- Microsoft Corporation
- SAP SE
- Schneider Electric SE
- Alphabet Inc.
- IBM Corporation
- ADLINK Technology Inc.
- Huawei Technologies Co. Ltd.
- EdgeConnex Inc.
The COVID-19 pandemic has accelerated the adoption of edge computing, as organizations across various sectors have had to quickly adapt to remote work and digital transformation. The increased reliance on cloud-based applications and services has highlighted the need for edge computing to enable faster processing and analysis of data at the edge of the network.
North America is expected to dominate the global edge computing market due to the presence of major edge computing companies and the increasing adoption of IoT devices in the region. Asia Pacific is expected to be the fastest-growing market, driven by the increasing adoption of edge computing in industries such as manufacturing, healthcare, and transportation.
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The Global Edge computing market has been segmented into technology, deployment, component, application and vertical
By Technology: Fog Computing, Mobile Edge Computing.
By Deployment: On-Premise, Cloud.
By Component: Hardware, software, and services.
By Application: IoT Data, Caching Analytics, Environment Monitoring, Augmented Reality Location Services and other similar services.
By Vertical: Energy and Utilities Transportation, Manufacturing, Semiconductor, Government IT & Telecommunication, Retail, Education, Hospitality.
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