Edge computing provides various benefits, like reduced latency and bandwidth consumption, improved security, data residency preferences and location-aware computing. It helps in processing and analyzing data closer to endpoints, such as IoT sensors and devices, to provide faster computation and insights. Edge computing provides optimized performance, reduced costs, data residency, real-time responsiveness and privacy policy enforcement.
The global Edge Computing Market is estimated to be valued at US$ 111.3 Bn in 2023 and is expected to exhibit a CAGR of 15% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving the Edge Computing Market is increasing IoT devices deployment and reduced latency needs of many emerging applications and services. Edge computing provides low latency and real-time response, which is crucial for IoT applications like autonomous vehicles, surveillance, healthcare monitoring, smart manufacturing, gaming and connected transportation. Edge solutions help in reducing latency by processing data near IoT devices locally rather than sending it to centralized cloud data centers. Adoption of edge computing is expected to grow significantly with increasing demand for real-time, low latency applications and services across various industries.
Segment Analysis
The global edge computing market is dominated by the hardware segment. This is because hardware components such as servers, switches, and routers are essential for setting up edge computing infrastructure which processes data closer to devices and sensors. The hardware segment captures around 45% share of the total edge computing market owing to increasing demand for servers, switches, and other networking devices to establish edge sites and support edge applications.
Key Takeaways
The global edge computing market is expected to witness high growth. The global Edge Computing Market is estimated to be valued at US$ 111.3 Bn in 2023 and is expected to exhibit a CAGR of 15% over the forecast period 2023 to 2030.
Regional analysis related content comprises the Asia Pacific region is expected to grow at the fastest rate due to advancements in technologies like 5G and IoT across the region. Countries like China, Japan, and South Korea are increasingly adopting edge computing infrastructure to support applications like augmented reality, autonomous vehicles, and smart manufacturing.
Key players related content comprises Key players operating in the edge computing market are Microsoft Corporation,,Google LLC,,IBM Corporation,,Huawei Technologies Co. Limited,,Cisco Systems Inc. These companies are focusing on partnerships, collaborations, and new product launches to gain more share in the edge computing market. For instance, in 2023, IBM partnered with AT&T to strengthen its edge computing capabilities for enterprises.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it