Edge Computing Market Projected to Hit USD 168.6 Billion at a 24.51% CAGR by 2030
Edge Computing Market: The Edge Computing market is driven by an increase in Edge Computing Market Projected to Hit USD 168.6 Billion at a 24.51% CAGR by 2030
the usage of cloud computing and storage solutions with a healthy CAGR of 24.51% during the forecast period of 2022 to 2030.
According to a comprehensive research report by Market Research Future (MRFR), “Edge Computing Market: By Type, By Application, Forecast till 2030”, the market is predicted to thrive substantially during the assessment era from 2020 to 2030 at a healthy CAGR of approximately 24.51% to attain a valuation of around USD 168.6 Billion by the end of 2030.
Edge Computing Market Overview:
According to MRFR analysis, the global Edge Computing market is expected to register a CAGR of 24.51% from 2022 to 2030 and hold a value of over USD 171 billion by 2030.
Edge Computing Market Competitive Analysis:
The list of leading contributors across the global market for Edge Computing Market includes companies such as:
- 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.
- eInfochips, EdgeConnex Inc.
- Integrated Device Technology, Inc.
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Edge computing is a distributed computing paradigm that brings computation and data storage closer to the sources of data. This is expected to improve the performance of applications, reduce latency, and provide more reliable services. Edge computing is typically used in the context of Internet of Things (IoT) devices and other distributed computing systems, such as cloud computing, where computation and data storage are located away from the user. Edge computing allows data to be processed and analyzed closer to where it is generated, which can reduce latency and improve performance. Additionally, edge computing can help reduce costs associated with cloud computing, as data storage and computation are moved closer to the end user.
Edge computing is a distributed computing paradigm that brings computation and data storage closer to the source of data, rather than relying on a centralized data center or cloud. Edge computing devices, such as gateways, routers, and embedded systems, process and analyze data at the edge of the network, close to where it is generated, reducing the amount of data that needs to be sent to the cloud for processing. The COVID-19 pandemic has had an impact on the Edge Computing industry, as the increased demand for remote access and real-time analytics has highlighted the need for edge computing solutions. With many employees working remotely and accessing company systems and data remotely, the need for edge computing solutions that can provide secure and reliable access to data and applications has increased. Additionally, the increased use of digital platforms and e-commerce has also led to an increased need for edge computing solutions that can provide real-time analytics and insights, and support low-latency and high-bandwidth applications, such as video conferencing, online gaming, and remote monitoring.
Edge Computing Market Segmentation:
The Global Edge Computing market has been segmented into technology, deployment, and component.
Based on the technology, the market has been segmented into Mobile Edge Computing, Fog Computing.
Based on the deployment, the market has been segmented into On-Premise and Cloud.
Based on the component, the market has been segmented into Hardware, Software, and Solutions.
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As per the components
- Service
- Software
- Hardware
As per the enterprise size
- Large enterprise
- SMEs
As per the end-users
- Transportation
- Manufacturing
- BFSI
- Healthcare
- Semiconductor
- IT telecommunication
- Energy
- Education
- Government
- Retail
- Utilities
- Hospitality
As per the region
- North America
- Europe
- Asia-Pacific
- The Middle East and Africa
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Edge Computing Market Regional Analysis:
The Asia Pacific region is growing at a rapid rate and has the largest share of the Edge Computing market. The region's rapidly growing economies, such as China and India, are driving the demand for advanced technologies, including Edge Computing. The increasing adoption of the Internet of Things (IoT) and the growing demand for real-time data processing and analysis are also contributing factors to the growth of the Edge Computing market in the Asia Pacific region. Additionally, the region's favorable policies and incentives for the adoption of advanced technologies, as well as the presence of leading technology companies, are also driving the growth of the Edge Computing market in the Asia Pacific region.
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About Market Research Future (MRFR):
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and also about what action to take based on these aspects.
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