Industrial Edge Computing Market Size Worth $11.5 Billion By 2030: IndustryARC

Industrial Edge Computing Market Size Worth $11.5 Billion By 2030: IndustryARC

The Global Industrial Edge Computing Market size is predicted to reach $11.5 billion by 2030, growing at a CAGR of 12.5% during the forecast period 2024-2030 according to the latest market research report published by IndustryARC. The proliferation of IoT devices, increasing demand for low-latency processing, and rapid adoption of 5G technology are poised to propel the market growth, finds IndustryARC in its recent  report, titled “Industrial Edge Computing Market Size, Share & Trends Analysis ReportBy Deployment Type (Cloud Based, On-Premises) By Technology  (Edge Computing Hardware, Edge Gateway, Edge Analytics, Others), By Component (Hardware, Services, Software), By Application (Predictive Maintenance, Asset Tracking, Remote Monitoring, Others), By Industry Vertical (Manufacturing, Healthcare, Transportation and Logistics, Energy and Utilities, Others),  By Region and Segment Forecasts, 2024–2030”

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Asia Pacific Register Highest Growth:

The Industrial Edge Computing industry in the Asia Pacific region is expanding due to rapid industrialization, a burgeoning manufacturing sector, and an increasing number of IoT deployments are driving the demand for edge computing solutions. The region’s vast population and rising urbanization are also propelling industries to adopt real-time data processing for improved efficiency. Furthermore, government initiatives supporting digital transformation and Industry 4.0 practices have created a favorable environment for the adoption of industrial edge computing technologies, leading to the remarkable growth in the Asia-Pacific region.

Industrial Edge Computing Market 2023-2030: Scope of the Report

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Industrial Edge Computing Market Report – Key Takeaways:

• Edge Computing Hardware Dominate the Market

The Edge Computing hardware segment had the largest market share in 2023 owing to its established infrastructure and scalability. Cloud Edge computing offers a centralized and reliable platform for data storage, processing, and analysis, making it an ideal choice for industries with extensive data needs. Additionally, Cloud solutions complement edge computing by providing a seamless integration of data from various edge devices. This integration allows businesses to leverage the benefits of both edge and cloud computing, optimizing their operations, and driving innovation.

• Predictive Maintenance to Register Highest Growth

Predictive Maintenance is analyzed to grow with the highest CAGR of 14.4% during the forecast period 2023-2030. This is owing to its significant impact on operational efficiency and cost savings. By leveraging real-time data from edge devices, predictive maintenance can identify equipment failures or performance degradation before they occur. This proactive approach allows companies to schedule maintenance activities precisely, reducing downtime and unplanned outages.

• North America is a Leading region in the Market

North America region held a major market share of 31% in 2023. The strong presence in this region can be attributed to its advanced technological infrastructure, early adoption of IoT and Industry 4.0 practices, and robust manufacturing and industrial sectors. The region’s emphasis on innovation, coupled with its well-established cloud computing ecosystem, has created a conducive environment for edge computing adoption. Furthermore, North American industries recognize the value of low-latency processing, real-time analytics, and secure data management, driving the rapid deployment of industrial edge computing solutions across various sectors, including manufacturing, energy, healthcare and transportation.

• High Demand for Real-Time Data Processing and Analysis

Industries are increasingly relying on immediate access to data insights to make critical decisions and optimize operations. Edge computing enables data processing closer to the source, reducing latency and ensuring real-time analytics. This capability is essential for applications like predictive maintenance, process automation, and autonomous systems. As industries recognize the value of real-time data processing, the demand for edge computing solutions rises, creating opportunities for companies to offer specialized hardware and software solutions tailored to address these specific needs in the industrial sector.

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Key Opportunity Analysis:

The Enhanced Operational Efficiency and Productivity   

Edge computing enables data processing and analysis at or near the data source, reducing the need to send all data to centralized cloud servers. This localized approach allows for real-time insights and decision-making, leading to streamlined processes and improved efficiency in industrial operations. By optimizing resource utilization and minimizing downtime, edge computing enhances overall productivity, making it a compelling solution for industries seeking to gain a competitive edge.

High Demand for Remote Monitoring and Control

Remote monitoring and control are creating significant opportunities in the industrial edge computing market. With the increasing complexity and scale of industrial operations, companies are seeking ways to monitor and manage their processes remotely. Edge computing facilitates real-time data processing at the edge of the network, enabling seamless remote monitoring and control of industrial assets and operations. This capability not only enhances operational efficiency but also improves predictive maintenance, reduces downtime, and increases overall productivity. As industries continue to embrace remote monitoring and control, the demand for edge computing solutions is expected to grow, unlocking new opportunities in the industrial edge computing market.

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The Report also Covers the Following Areas:

• Industrial Edge Computing Market Size and Forecast
• Industrial Edge Computing Market Trends
• Industrial Edge Computing Market Analysis by Deployment Type

Industrial Edge Computing Market 2023-2030: Key Highlights

• CAGR of the market during the forecast period 2024-2030
• Value Chain analysis of key stake holders
• Detailed analysis of market drivers and opportunities during the forecast period
• Industrial Edge Computing Market size estimation and forecast
• Analysis and predictions on end users’ behavior and upcoming trends
• Competitive landscape and Vendor market analysis including offerings, developments, and financials
• Comprehensive analysis of challenges and constraints in the Industrial Edge Computing Market

Covid and Ukrainian Crisis Impact:

• The COVID-19 pandemic had a mixed impact on the Industrial Edge Computing market. On the one hand, it accelerated the adoption of edge computing solutions in industries like healthcare, manufacturing, and logistics, where real-time data processing was crucial during the crisis. On the other hand, supply chain disruptions and economic uncertainties temporarily hindered investment in edge computing projects.
• The Ukrainian crisis had notable implications for the Industrial Edge Computing market. Geopolitical tensions and economic uncertainties in the region disrupted supply chains and affected businesses globally. Companies heavily reliant on Ukrainian technology providers faced challenges, potentially leading to delays or disruptions in edge computing projects. Furthermore, the crisis brought renewed attention to data security and the need for localized processing in critical industries.

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List of Key Market Players in Industrial Edge Computing Market:

The Global Industrial Edge Computing Market is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:

• Amazon Web Services, Inc.
• Google Cloud Platform
• Microsoft Azure
• International Business Machines Corporation
• Cisco Systems, Inc.
• Hewlett Packard Enterprise Company
• Dell Inc.
• Intel Corporation
• Advantech Co Ltd
• Kontron AG
• Siemens AG
• Schneider Electric SE
• Robert Bosch GmbH
• Omron Corporation
• Rockwell Automation, Inc.

Related Reports:

Edge Computing Market – The Edge Computing Market is projected to grow at a CAGR of 26.25% from 2023 to 2030. The growth is attributed to the increased adoption of IoT  in various technologies including smart homes, smart cities, Industry4.0, connected vehicles and so on is analyzed to boost the market for Edge Computing.

Mobile Edge Computing Market – The Mobile Edge Computing Market is projected to grow at a CAGR of 26.25% from 2023 to 2030. The growing popularity of connected vehicles globally and the implementation of edge computing solutions in the connected vehicles to assist the edge computing market growth.

Edge Controller Market  – The Edge Controller Market is projected to grow at a CAGR of 33.10% from 2023 to 2030. The edge controllers have the unique ability to monitor & control industrial processing across a range of applications and industries. Rapid multi-system integration is a key attribute of modern control systems. The edge controller helps workers create advisory algorithms to assist newer teams with operating and maintaining a system. This is a key factor driving the Edge Controller Market growth.

About IndustryARC™:

IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets. 

IndustryARC’s goal is to provide the right information required by the stakeholder at the right point in time, in a format which assists an intelligent and informed decision-making process.

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