Edge Computing Market Trends, Growth Factors, Size, Segmentation and Forecast to 2029

shital chaudhari

The Edge Computing market reached a value of US $8.93 billion, with a remarkable compound annual growth rate (CAGR) of 38.2%. The market is projected to escalate further, reaching an estimated value of US $85.96 billion by 2029.

Market Overview

As of the most recent Edge Computing Market update, the global economic landscape reflects a dynamic interplay of various factors. Major financial markets continue to navigate the aftermath of the unprecedented events that unfolded in recent years, such as the global pandemic and geopolitical shifts. Equities have demonstrated resilience amid ongoing uncertainties, propelled by technological advancements, innovation, and accommodative monetary policies. However, challenges persist, including inflationary pressures, supply chain disruptions, and regulatory changes in various sectors. Investors are closely monitoring central bank decisions, fiscal policies, and emerging trends to assess potential opportunities and risks. The market’s response to evolving conditions underscores the importance of adaptability and strategic planning for both businesses and investors in this complex and ever-changing environment.

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Report Scope:

The report provides a comprehensive analysis of the global edge computing market, encompassing past performance, current status, and future trends. It explores market dynamics, including drivers, restraints, and regional insights, aiding stakeholders in making informed decisions. Additionally, the report delves into market segmentation, offering valuable insights into various applications and verticals.

Research Methodology:

Our research methodology combines extensive data analysis with industry expertise, ensuring accuracy and reliability. We employ robust analytical tools to evaluate market trends, incorporating primary and secondary research methods to gather relevant data. This rigorous approach enables us to present a detailed and insightful report on the edge computing market.

Drivers:

The proliferation of IoT across industries is driving demand for edge computing solutions, offering localized processing to address latency and cost concerns associated with centralized cloud computing. Organizations are leveraging edge computing to enhance efficiency and facilitate real-time decision-making, thereby fueling market growth.

Restraints:

While edge computing offers numerous benefits, initial capital expenditure (CAPEX) for infrastructure remains a challenge for enterprises. Investments in edge nodes, devices, and data centers contribute to CAPEX, deterring some companies from fully embracing edge computing solutions. Moreover, concerns regarding data security and network safeguarding pose additional obstacles to adoption.

Segmentation:

  • Application: The smart city segment accounted for the largest share in 2022, driven by digitization initiatives and the deployment of device edge infrastructure in manufacturing. As service complexity increases, demand for edge infrastructure capabilities is expected to rise further.
  • Verticals: The energy and utility segment held the largest share in 2022, propelled by the adoption of device edge infrastructure in smart grids. Environmental sustainability initiatives and the integration of renewable energy sources are driving growth in this sector.

by Component

Service
Solutions
Hardware
Platform

by Application

Smart Cities
Analytics
Location Services
Data Caching
Augmented Reality
Optimized Local Content
Environmental Monitoring
Others

by Organization Size

Small & Medium Enterprises
Large Enterprises

by Vertical

Manufacturing
Transportation
Healthcare
Media & Entertainment
Telecom & IT
Government & Public
Energy & Utilities
Retail
Others

Regional Insights:

North America dominated the global edge computing market in 2022, capturing a market share of 44%. The region’s adoption of linked manufacturing and collaborations between companies to develop edge-enabled solutions have contributed to its leadership position. For instance, partnerships between telecommunications providers and edge solution developers are facilitating the creation and testing of low-latency applications.

Market Key Players

1. Huawei
2. Vasona Networks
3. Foghorn Systems
4. Cisco Systems
5. Dell
6. Machineshop
7. Nokia Networks
8. Sixsq
9. Saguna Networks
10.Aricent
11.Adilink Technology
12.Juniper Networks, Inc.
13.Hewlett Packard Enterprise Development LP
14.SixSq Sàrl (Switzerland), FogHorn Systems
15.MachineShop Inc.
16.Vapor IO (US)
17.Xiotech Corporation
18.Mirror Image
19.Microsoft Corporation
20.IBM Corporation
21.Cisco Systems Inc.
22.Google Inc.
23.Hewlett Packard Enterprise Company
24.Intel Corporation
25.Schneider Electric SE

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Key questions answered in the Edge Computing Market report include:

What is Edge Computing?
What factors drive Edge Computing Market growth?
What are the main challenges for Edge Computing Market growth?
What was the Edge Computing market size in 2023?
Which trends are expected to contribute to Edge Computing market growth?
What recent industry trends can generate additional revenue streams for the Edge Computing Market?
What growth strategies are players considering to increase their foothold in the Edge Computing Market?
Who held the largest market share in the Edge Computing Market?

Key Offerings:

Past Market Size and Competitive Landscape (2021 to 2023)
Past Pricing and price curve by region (2021 to 2023)
Market Size, Share, Size & Forecast by different segment | 2023−2029
Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation – A detailed analysis by segment with their sub-segments and Region
Competitive Landscape – Profiles of selected key players by region from a strategic perspective
Competitive landscape – Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER’s analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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