The global edge computing market exhibited robust growth during 2015-2020. Edge computing is a networking solution that reduces the number of processes running on the cloud and moves them to local devices, such as the user’s computer, an IoT device, or an edge server. It minimizes the amount of long-distance communication between the client and the server, which decreases latency and improves process efficiency. Consequently, several organizations are adopting edge computing as it lowers bandwidth use, associated costs, and server resources.
The robust growth of the Internet of Things (IoT) and associated devices represents the primary growth-inducing factor. Market players are integrating edge computing solutions with IoT-enabled devices to improve internet connectivity for receiving and delivering data to and from the cloud. Apart from this, the implementation of multi-access edge computing (MEC) by telecom companies has enhanced application performance and mitigated network congestion. Edge computing also enables companies to save costs by reducing the amount of data that needs to be processed in a centralized or cloud-based location by processing it locally. Moreover, the development of faster networking technologies, such as 5G wireless, allows edge computing systems to support real-time applications, like video processing and analytics, self-driving cars, artificial intelligence (AI) and robotics. Furthermore, edge computing is playing a crucial role in organizations worldwide, with a significant rise in the number of work-from-home jobs due to the outbreak of coronavirus disease (COVID-19). It has also improved the network performance of streaming services that have witnessed an increase in their subscriber base during the pandemic. Looking forward, the global edge computing market is expected to grow at a CAGR of 30% during the forecast period (2021-2026).
IMARC Group provides an analysis of the key trends in each sub-segment of the global edge computing market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, component, organization size and vertical.
Breakup by Component:
Breakup by Organization Size:
Breakup by Vertical:
Breakup by Region:
The competitive landscape of the industry has also been examined with some of the key players being ABB Ltd., Amazon Web Services (AWS), Inc., Cisco Systems Inc., Digi International Inc., General Electric Company, Hewlett Packard Enterprise Development LP, Huawei Technologies Co. Ltd., IBM Corporation, Intel Corporation, Microsoft Corporation, SAP SE and Siemens AG.
The global edge computing market was worth around US$ 4.60 Billion in 2020.
According to the estimates by IMARC Group, the global edge computing market is expected to witness a CAGR of 30% from 2021 to 2026.
Rapid digitization across diverse industries has led to the extensive utilization of AI-integrated systems for analyzing large amounts of data and extracting insights, thereby driving the growth of global edge computing market.
The development of AI-powered industrial and surgical robots, along with increasing investments to improve the AI-based infrastructures, represent some of the key trends in the global edge computing market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations. This has resulted in the rising adoption of remote working models across diverse industries, thereby propelling the demand for edge computing.
On the basis of the component, the market has been bifurcated into hardware, software, and services. Currently, hardware holds the largest market share.
On the basis of the organization size, the market has been classified into small and medium-sized enterprises (SMEs), and large enterprises. At present, large enterprises exhibit a clear dominance in the market.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where North America dominates the global market.
The key companies in the global edge computing market are Babcock & Wilcox Co., Covanta Energy Corp., SUEZ Environnement SA, Constructions Industrielles de la Méditerranée S.A, Gershman, Brickner & Bratton, Inc., EEW Energy from Waste GmbH, Martin GmbH, Wheelabrator Technologies Holdings Inc., and Novo Energy, LLC.
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