Global Edge Computing Market TOC
Edge Computing Market size is anticipated to reach USD 893.93 Billion by the end of 2036, expanding around 39.65% CAGR during the forecast period i.e., 2024-2036. In the year 2023, the industry size of edge computing was over USD 11.78 Billion. As connected automobiles drive, massive volumes of data are generated. These data can be used for real-time analysis to follow traffic lights and divert the car to a less crowded route. It also aids in lowering carbon dioxide emissions during traffic congestion. Soon, linked automobiles will advance to linked autonomous driving, which is expected to create a whole new environment with real-time services. Ford is expected to release a fully autonomous car by 2021, and GM plans to roll out autonomous cars by no later than 2020.
The growing use of the Internet of Things in a number of industries has led to an increased demand for edge computers around the world. The rapid growth of Internet of Things devices, which need to be dealt with and assessed, is generating massive amounts of data. Edge Analytics can help to reduce latency and increase efficiency by processing and analysing these data at the local level. Edge computing is popular because it requires less upkeep than cloud computing. Furthermore, edge computing helps users reduce their network bandwidth and data storage necessities, which significantly reduces the cost of implementing IoT applications and devices. Furthermore, the utilization of IoT technology is rapidly rising as an increasing number of astute business and technology professionals work together to reconsider how IoT technology delivers corporate value and a competitive advantage. As a result, they are putting into practice data monetization techniques that will make the Internet of Things a money stream rather than a cost.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024 - 2036 |
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CAGR |
39.65% |
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Base Year Market Size (2023) |
USD 11.78 billion |
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Forecast Year Market Size (2036) |
USD 893.93 billion |
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Regional Synopsis |
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Component (Hardware, Edge Managed Platforms, Software, Services)
Based on component, the hardware segment in the edge computing market is anticipated to surpass USD 430.83 billion by the end of 2036. Edge computing hardware has become increasingly popular in recent years because it can offer a wide range of edge computing benefits, including reduced latency, data protection, security, flexibility, and cost savings. To meet workload demands, resource-intensive edge computing applications require high-performance hardware. Therefore, hardware designed for use at the edge is essential. An important part of edge computing is the edge gateway. Extend cloud capabilities to local edge devices and integrate different communication technologies. It works similarly to a local au pair and is efficient, secure, and low-latency.
Organization Size (Small and Medium Enterprise, Large Enterprise)
In terms of organization size, the large organization segment in the edge computing market is expected to cross USD 704. 62 billion by the end of 2036. Large enterprises can greatly benefit from edge computing technology when it comes to cybersecurity. Edge computing gives businesses control over their data by deciding what data should be processed in a central unit and what data should remain in local sources. This improves the security of both personal and business information. Edge computing acts as a private cloud, allowing local data to be seamlessly integrated into a central cloud, resulting in a unified user interface. There are a large number of network-edge data centers that benefit enterprises. In 2022, there are currently just over 250 network edge data centers, and it is estimated that this will increase to close to 1,200 by 2026.
Our in-depth analysis of the global edge computing market includes the following segments:
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Component |
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Application |
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Organization Size |
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Industrial Vertical |
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North American Market Forecasts
The edge computing market in the North America is anticipated to hold the largest market share of USD 389.40 billion by the end of 2036. With the advancement of connected devices in North America, edge computing will capture a significant market in the region by storing and processing these vast amounts of data. Reducing infrastructure costs and increasing infrastructure flexibility are the two main factors driving the North American cloud computing market.
APAC Excluding Japan Market Statistics
The edge computing market in the Asia Pacific region excluding Japan is predicted to be the fastest growing market in the estimated period by registering revenue growth of over USD 2.36 billion in the year 2023. Integration of technology in healthcare is high in this region. Countries such as Singapore, Japan, South Korea, and Australia are leading the way in healthcare IT adoption, while China, India, Malaysia, and Thailand are emerging markets. Strong government support is one of the key drivers of his HIT implementation in the Asia-Pacific region. In this regard, Australia's state and federal governments supported her state and federal HIT initiatives. In Western Australia, eHealthWA is one of the major reform programs aimed at delivering an innovative and modern integrated health information and communication technology platform.
Author Credits: Abhishek Verma, Hetal Singh
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