Global Edge Computing Market is growing at a CAGR of ~16% during the forecast period (2022-2028): Ken Research

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Global Edge Computing Market By Geography

The Global Edge Computing market is segmented by geography into North America, Europe, Asia- pacific and LAMEA. North America segment held the largest market share in 2022, The convergence of IIoT and edge computing is creating favorable conditions for manufacturers in the USA to transition to connected manufacturing.

Several startups have also emerged to provide platforms for building edge-enabled solutions, which are expected to help the regional market's growth. For instance, the MobiledgeX Early Access Program was developed in cooperation between Telus Communications and MobiledgeX, Inc. The software has made it possible for programmers to create, test, and evaluate the effectiveness of edge-enabled apps in a low-latency setting.

Competition Scenario In Global Edge Computing Market

The global edge computing market is highly competitive with ~200 players which include globally diversified players, regional players, and country-niche players with their niche in the edge computing market.

County-niche players constitute ~45% of the market, while the regional players are the second largest by type. Some of the major players in the market include General Electric Company, IBM Corporation, Intel Corporation, Microsoft Corporation, SAP SE, Amazon Inc., Huawei Technologies Co. Ltd., Hewlett Packard Enterprise Development, Honeywell International Inc., Google LLC, and others.

What is the Expected Future Outlook for the Overall Global Edge Computing Market Across the globe?

The Global Edge Computing market was valued at USD ~8 billion in 2022 and is anticipated to reach USD ~ 20 billion by the end of 2028F, witnessing a CAGR of ~% during the forecast period 2022-2028F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

The Global Edge Computing market is driven by the rollout of 5G and the rising demand for decentralized data processing capability. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

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With the increasing collaboration and emergence of new products, the Global Edge Computing market is changing rapidly. For instance, In June 2022, SixSq announced their continued collaboration to provide Nuvla Marketplace users with intelligent sound-embedded software that can analyze particular sounds in any situation. The unique sound processing technology from Securaxis can now be purchased, deployed, and managed much more easily thanks to this agreement.

In May 2022, Litmus and Google Cloud collaborated to create the Manufacturing Connect platform, which simplifies the hard operation of collecting data from different industrial equipment and exposing it to Google Cloud data and Al applications. A factory edge platform called Manufacturing Connect is designed specifically to accommodate more than 250 machine communication protocols right out of the box. For advanced analytics and Al, data is organized, stored locally, and transmitted to Google Cloud. For closed loop Al, the platform can manage and deploy machine learning and AI models at the edge.

The global edge computing market is forecasted to continue the growth that is witnessed since 2017, edge computing is a method that handles data processing at the network's edge. For instance, a mobile phone might be an edge device in the telecom industry. As a result, every device that produces data near the network's edge serves as an edge device. The primary drivers of the growth of the worldwide edge computing market include variables like the rise in the number of intelligent apps and the increased global strain on cloud infrastructure. Though the market is highly competitive with ~200 players, few global players control the dominant market share and regional players also hold a significant market share.

Market Taxonomy

By Component

• Hardware
• Software
• Services

By Application

• IIoT
• Remote Monitoring
• AR/VR
• Content Delivery
• Others

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By End-User

• Manufacturing
• Energy & Utility
• Healthcare
• Telecommunications
• Retail
• Others

By Geography

• North America (USA, Canada, Mexico)
• Europe (Germany, UK, France, Spain, Italy)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Australia)
• LAMEA (Latin America, Middle East, Africa)

Leading Companies

• General Electric Company
• IBM Corporation
• Intel Corporation
• Microsoft Corporation
• SAP SE
• Amazon Inc.
• Huawei Technologies Co. Ltd.
• Hewlett Packard Enterprise Development
• Honeywell International Inc.
• Google LLC

For more insights on the market intelligence, refer to below link:-

Global Edge Computing Market

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Rise in Digital Industrialization Expected to Drive Europe Edge Computing Market over the Forecast Period: Ken Research

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Edge computing is a revolutionary process to optimize cloud computing systems. It primarily states to the technologies enabling computation to be implemented at the edge of the network. The services are performed on upstream data on behalf of IoT services and downstream data on behalf of cloud services. Edge computing is responsible for supporting data acquisition & control functions, applications closer to the end user and storage of high bandwidth content. Edge sites are positioned as close as possible to the end-users for instance a logical endpoint of a network as part of a more widespread cloud computing architecture. However, the position of an edge for IoT may change according to the service required by the end-users.

Edge computing solves latency challenges and allow enterprises to take better advantage of opportunities leveraging a cloud computing architecture. The computing provides shorter period of open communication channels owing to improved latency allowing extended battery life for battery-powered IoT devices. The computing also facilitates proficient data management as data processing & data filtering can be performed at the edge of the network, offering cleaner data sets for cloud-based data analytics.

According to study, “Europe Edge Computing Market (2018-2023)” the key companies operating in the Europe edge computing market are Cisco Systems, Inc., Google Inc., Microsoft Corporation, IBM Corp., Amazon. The prominent companies keep innovating and investing in research & development (R&D) to present a cost-effective product portfolio. There has been recent mergers & acquisitions (M&A) among the key players, an approach the business entities leverage to increase their reach to the customers.

Based on component type, edge computing market is segmented into solution and services (software and hardware). Based on technology, market is segmented into fog computing and mobile edge computing. Mobile edge computing is emerging as a favorable computing architecture for telecom operators, system integrators and IT platform providers. The computing adds computing capabilities and virtualization to a RAN. Based on type of deployment, market is segmented into cloud deployment and on-premise deployment. Based on organization size, market is segmented into large enterprises and small & medium enterprises. Based on application, market is segmented into connected cars, critical infrastructure monitoring, smart grids, traffic management, augmented reality, assets tracking, environmental monitoring, security & surveillance, and others. In addition, based on end-use industries, market is segmented into energy & utilities, healthcare, manufacturing, government & public sector, media & entertainment, telecom & IT, transportation, retail, and others.

The edge computing market is driven by rise in number of intelligent applications, followed by increase in load on the cloud infrastructure, rise in digital industrialization and assistance for real-time applications. However, higher maintenance costs, lack of technical skills and more local hardware may impact the market. Moreover, numerous frameworks & languages for IoT solution and advent of the 5G network are key opportunities for market.

Based on regions, Europe edge computing market is segmented into EU5 and the rest of EU5. The EU5 would secure the maximum market share as countries like the France and UK are progressing swiftly with smart & connected devices. It is anticipated that future of the market will be bright due to tremendous increase in the number of intelligent applications over the forecast period. It is projected that the market will be reached at US $1.94 billion by 2023, expanding at a CAGR of 29.3%.

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Europe Edge Computing Market

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Landscape of the Europe Edge Computing Market Outlook: Ken Research

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The increasing requirement to the procedure large volume of data being created from the increase in the Internet-of-Things (IoT) improvements closer to the end user is predicted to grow the requirement for these solutions over the review duration. Growing emphasis on the price deduction and procedure automation attached with the intensified business competition is also anticipated to fuel the market during the forecast period. Furthermore, the continued implementation of this technology for the data center benefits is also anticipated to fuel the market growth. Its implementation is also predicted to terminate in having micro data centers positioned closer to the prevailing infrastructure, which would support the address the expectancy aspects.

According to the report analysis, ‘Europe Edge Computing Market (2018-2023)’ states that in the Europe Edge Computing Market there are several key players which recently functioning more significantly for leading the fastest market growth and registering the high value of market share in the coming years more enormously while developing the technologies of function, increasing the requirement, employing the skilled workers and implementing the profitable strategies and policies which further benefitted for enlarging the infrastructure includes Cisco system, Microsoft Corporation, IBM, Google, Amazon and several others.

The Europe edge computing market is predicted to reach a value of USD 1.94 Bn by 2023, enlarging at an effective CAGR of 29.3%. Edge computing brings data processing more closer to the IoT sensors to deduct the latency and enhance the efficiency. The internet of things is effectively fueled by huge volumes of data created from the activities of our day-to-day lives collecting, sending, and processing enormous quantities of data demands the corporates to perform intelligently, speedily, and create better business decisions. Edge computing is a connection of data centers that store, and procedure data nearby, before sending them to center or cloud. It enhances the computing to circumvent the disruptions in sending and unloading data.

The Europe edge computing market is further divided on the basis of applications and end users. By applications, it is further sub-divided into smart cities smart factories connected healthcare, connected vehicles, smart grids, and several others. Other applications effectively involve edge computing in gaming and e-commerce. Smart cities controls the principal market share. The European smart cities model is incomparable; it is opaquer and much maintainable. More than 240 European, with populace above 100,000 are continuing toward the smart city program.

For instance, the critical challenges faced by this economy is the shortage of the technical skills. Edge computing is predicted to face deployment problems, i.e. challenges is augmenting spectrum utilization. However, Europe is continuing toward the digital industrialization. Approximately 91% of European companies are investing for the digitization of factory plants in the fundamental of economy. 47% of English citizens consider that smart home technology would have a constructive impression on their lives in the next few years.

The U.K. is estimated to attain EUR 4.8 Bn from the usage of the IOT in the healthcare segment. These aspects are estimated to fuel the edge computing applications in the economy. Therefore, in the coming years, it is predicted that the Europe edge computing market will increase more enormously over the coming years.

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Europe Edge Computing Market

Contact Us:

Ken Research                                   

Ankur Gupta, Head Marketing & Communications

sales@kenresearch.com

+91 9015378249