Edge Computing Market to reach USD 3,257.77 million by 2030, registering a CAGR of 8.6%

Edge computing can be described as modern technology based on a distributed computing system. This simply means that several different users can access the data from several different devices connected. The concept behind edge computing is that users can wirelessly access the various resources and data at their disposal.

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Widespread usage and adoption of IoT leading to overload on cloud foundation is a driving factor for the global edge computing market. Increasing levels of adoption and applications in a number of different industry verticals is also a driver for the market. Rise in the adoption of the technology by telecom companies is an opportunity for the edge computing market.

The global edge computing market was valued at USD 1,980.11 million in 2022 and is expected to reach USD 3,257.77 million by 2030, registering a CAGR of 8.6% during the forecast period of 2023-2030. "Hardware" segment is dominating in component segment due to the increasing demand for localized data processing, real-time analytics and the need for efficient and secure edge computing solutions contribute to this segment's prominence in driving the market growth.

In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Opportunity

The Proliferation of Internet of Things (IoT) Devices

The global edge computing market presents significant opportunities driven by the proliferation of Internet of Things (IoT) devices and the surge in data generated at the edge. As more devices and sensors are connected, there is a need for decentralized processing closer to the data source. Edge computing allows handling and analyzing data locally, reducing network congestion and enhancing operational efficiency. Additionally, edge computing enables real-time decision-making, data security, and compliance with data regulations. This creates a favorable landscape for the adoption of edge-computing solutions and drives market expansion.

Drivers

Increasing demand for Low-Latency Data Processing and Real-Time Analytics

The global edge computing market is being propelled by the increasing demand for low-latency data processing and real-time analytics in key industries like manufacturing, healthcare, and transportation. These sectors require immediate access to data insights for efficient operations and decision-making. Edge computing enables faster processing at the network edge, reducing latency and enhancing real-time analysis capabilities. This growing need for rapid and localized data processing is driving the adoption of edge computing solutions across multiple industries, fueling market growth.

Application

Smart Cities

Location Services

 Analytics

Environmental Monitoring

Optimized Local Content

Data Caching

Augmented Reality

Others

Some of the major players operating in the global edge computing market are:

Nokia (Finland)

Huawei Technologies Co. Ltd. (China)

Juniper Networks Inc. (U.S.)

Dell (U.S.)

Cisco (U.S.)

Hewlett Packard Enterprise Development LP (U.S.)

SixSq Sàrl (Switzerland)

FogHorn Systems (U.S)

Vasona Networks Inc. (U.S)

MachineShop Inc. (U.S)

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