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According to a comprehensive research report by Market Research Future (MRFR), “Edge Computing Market” information by Technology, Components, Deployment, Application, and Region – Forecast to 2032” market size to reach USD 46.17 Billion, growing at a compound annual growth rate of 48.64% by 2032.
Edge computing is a technique for improving cloud computing systems by processing data at the edge of the network, near the source of the data. The key beneficial aliment of edge computing is that it diminishes the time for the operation to milliseconds and lowers the load on the network. Transmission of large amounts of loads generates tremendous load on the network. Therefore, edge computing processes all data at the edge of its source analyzes the data, and sends only valuable information on it, rather than frequently broadcasting data over the network. For example, a smart thermostat transmits data only when the temperature increases or falls from acceptable limits.
The edge server is projected to be the booming hardware segment. The development of autonomous vehicles to get information like the weather, light, and road conditions, get navigation, control, and even automatically drive has boosted the Edge Computing Market Share. The augmented demand for edge servers throughout various industrial verticals accounts for the segment’s promising growth prospects.
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The global edge computing market has prominent players such as:
COVID-19 Impact
The global COVID-19 pandemic has had a severe impact on the majority of the market sectors across the globe. But the global health crisis had quite the opposite impact on the growth of the edge computing market. Several countries across the globe implemented partial or complete lockdowns in order to curb the spread of the disease. Considering the travel restrictions across several regions worldwide, all the process was done digitally. The situation has generated massive demand for the edge computing market and raised the size of the edge computing market.
As there has been a rise in the use of the internet in recent times, several players have generated much software that enhanced the growth of the edge computing market. Some of the applications were even built to assist in the health care centers. The process enables everyone to speak out about their health problems, and the physicians will reach the patients by accessing the data from the software. Even during the peak of the pandemic across the globe, the process helped healthcare workers recognize the coronavirus patients’ data and treat them thoroughly. Because of the lockdowns and implementation of social distancing norms, the use of edge computing has been elevated at a noteworthy rate. Even by using AI edge computing, several nations across the globe, such as China, have deployed robots and drones across the healthcare sectors.
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Segmentation of Market Covered in the Research:
The global market for edge computing has been fragmented into various segments based on enterprise size, components, end-users, and region.
The global market for edge computing is split into service, software, and hardware based on components. The software segment is further divided into on-premises and cloud. The service segment is again classified into managed services and professional services.
The global market for edge computing is divided into large enterprises and SMEs based on the enterprise size.
Based on end-users, the global edge computing market is bifurcated into hospitality, utilities, retail, government, manufacturing, transportation, education, energy, IT & telecommunication, semiconductor, BFSI, healthcare, and others.
Competitive Analysis
The edge computing market appears highly competitive and fragmented, owing to the presence of many matured players accounting for a substantial market share. These players try to gain a bigger market share through acquisitions, strategic partnerships, expansions, product/technology launches, and collaborations.
In May 2022, Atos announced the launch of “Atos Business Outcomes-as-a-Service” (Atos BOaaS), a 5G, edge, and IoT offering developed in collaboration with Dell Technologies that brings the benefits of cloud architecture to the edge and far edge to deliver AI-based business value enhanced with end-to-end automated deployment, monitoring, and management.
HPE GreenLake, the company’s flagship offering that allows companies to migrate all of their apps and data from the edge to the cloud, has seen significant advancements as of March 2022. HPE’s market-leading hybrid cloud platform has just become stronger, thanks to a streamlined operating experience, more cloud services, and the availability of HPE GreenLake in several important distributors’ online marketplaces.
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Regional Analysis
The global edge computing market is studied across five major regions: North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa.
As per the MRFR analysis reports, the Asia-Pacific region will hold the top position in the global edge computing market over the assessment timeframe. The regional market’s growth is primarily attributed to the increase in the population across the region. The regional market has experienced the rapid implementation of new technologies, which is likely to fuel the regional market’s growth over the coming years. Furthermore, the gradual increase in IT spending by organizations across the region is another major aspect projected to propel the market’s growth. The region is home to several major market players such as NTT Docomo, Vodafone, Optus, Telstra, China Telecom, Huawei, and others, which in turn is anticipated to influence the market’s performance positively over the forecasted era. On the other hand, due to the lack of awareness among various small and medium-sized companies, the region has a low adoption rate of edge computing compared to Europe and North America.
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