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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Edge Computing Market Outlook
The global edge computing market will rise from USD 15.54 billion in 2023 to USD 147.38 billion by 2032, at a CAGR of 28.4% in the 2024-2032 forecast period.
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It is expected that the advent of autonomous vehicles and connected car networks and the need for lightweight frameworks and applications to improve the efficiency of edge computing solutions would create multiple opportunities for edge computing vendors.
Market Segmentation
Edge computing is a distributed computing model that takes data storage and computation closer to where it is needed to improve reaction times and save bandwidth. The edge computing market can be divided based on segments like components and end-user.
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The industry can be broadly categorised on the basis of its component into:
- Hardware
- Software
- Services
- Edge-Managed Platforms
The industry can be divided based on its end-uses as:
- Manufacturing
- Government and Defence
- Healthcare
- Transportation and Logistics
- Retail and Consumer Goods
- Telecom and IT
- Others
The EMR report looks into the regional markets of edge computing like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific regions.
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Market Analysis
Factors such as the increased Internet of Things (IoT) adoption across industries, increased demand for low latency processing and real-time, automated decision-making solutions, and the need to overcome exponentially growing data volumes and network traffic are driving the edge computing market growth. Edge computing helps real-time applications analyse and process collected data, which is also one of the key drivers of the rising industry demand. The advent of the 5 G Network and numerous IoT solutions frameworks and languages are expected to provide significant industry growth opportunities in the coming years. However, it is expected that the growing local hardware and higher maintenance costs will hinder the growth of the edge computing market.
Competitive Landscape
The report presents a detailed analysis of the following key players in the global edge computing market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Amazon Web Services, Inc.
- Cisco Systems, Inc. (NASDAQ: CSCO)
- Hewlett Packard Enterprise Development LP
- Huawei Technologies Co., Ltd.
- International Business Machines Corporation (NYSE: IBM)
- Capgemini Service SAS
- Microsoft Corporation (NASDAQ: MSFT)
- Others
The EMR report gives an in-depth insight into the edge computing market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Component |
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| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global edge computing market attained a value of nearly USD 15.54 billion.
The market is projected to grow at a CAGR of 28.4% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 147.38 billion by 2032.
The major drivers expected to aid market growth are the increased adoption of Internet of Things (IoT) across industries, rising need for low latency processing, growing demand for automated decision-making solutions, and exponentially growing data volumes and network traffic.
The key trends guiding the market growth include the advent of autonomous vehicles and connected car networks, and the rising need for lightweight frameworks and applications to improve the efficiency of edge computing solutions.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Hardware, services, and platforms are the leading components of the product in the market.
Manufacturing, government and defence, healthcare, transportation and logistics, retail and consumer goods, and telecom and IT, among others, are the significant end uses of the product in the global edge computing market.
The major players in the market are Amazon Web Services, Inc., Cisco Systems, Inc., Hewlett Packard Enterprise Development LP, Huawei Technologies Co., Ltd., International Business Machines Corporation, Capgemini Service SAS, and Microsoft Corporation, among others.
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