Market Overview:

The global edge computing market is expected to exhibit a CAGR of 25.6% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

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.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global edge computing market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, organization size and vertical.

Breakup by Component:

• Hardware
• Software
• Services
   

Breakup by Organization Size:

• Small and Medium-sized Enterprises (SMEs)
• Large Enterprises
   

Breakup by Vertical:

• Manufacturing
• Energy and Utilities
• Government and Defense
• BFSI
• Telecommunications
• Media and Entertainment
• Retail and Consumer Goods
• Transportation and Logistics
• Healthcare and Life Sciences
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

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.

Report Coverage: