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Edge Computing In Healthcare Market on Track for Strong Growth, Estimated to Grow at 21.2% CAGR Through 2029
Edge Computing In Healthcare
Edge Computing In Healthcare Market Size Growth Forecast: What to Expect by 2025?
The market size of edge computing in healthcare has seen a remarkable expansion in the past years. It's projected to surge from $4.67 billion in 2024 to $5.7 billion in 2025, experiencing a compound annual growth rate (CAGR) of 22.1%. Factors contributing to the growth during the historic period include a surge in telemedicine services, escalating concerns over data privacy, demand for instantaneous data processing, a rise in the use of wearable health devices, and the advancement of 5G networks.
How Will the Edge Computing In Healthcare Market Size Evolve and Grow by 2029?
Anticipations are high for a significant surge in the healthcare edge computing market in the coming years, with projections of an increase to $12.3 billion by 2029, marking a compound annual growth rate (CAGR) of 21.2%. This projected growth during the forecast period could be attributed to an increased focus on planning for unforeseen disasters and ensuring continuity, improved wearable health technology, cost-effective operations in healthcare, regulatory emphasis on data localization, and the broadening of virtual healthcare services. Noteworthy trends throughout the forecast period encompass AI and machine learning integration, the expansion of internet medical elements, continuity from edge to cloud, applications of virtual and augmented reality, product innovation, and technological integration.
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What Drivers Are Propelling the Growth of Edge Computing In Healthcare Market Forward?
The growth of edge computing in the healthcare market is predicted to be fueled by the proliferation of telehealth services. Telehealth services encompass the utilization of digital data and communication technologies like computers, mobile devices, and wearable technology, for accessing and managing healthcare services from a distance. The upsurge in telehealth services can be attributed to the need for accessible, streamlined, and effective healthcare delivery. Edge computing plays a critical role in telehealth services by offering low-latency data processing and real-time analytics, this greatly improves the efficiency and reliability of remote patient consultations and diagnoses. For example, in December 2023, the American Medical Association, an organization for physicians and med students in the United States, reported in an article that in 2022 approximately 74.4% of doctors offered telehealth services, with 54.9% utilizing these services for the management of patients with chronic ailments. Consequently, the surge in telehealth services is anticipated to bolster the growth of edge computing in the healthcare market.
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Which Emerging Trends Are Transforming the Edge Computing In Healthcare Market in 2025?
Leading enterprises in the edge computing in healthcare market are crafting progressive solutions, including AI computing platforms, designed to augment real-time data processing and elevate patient results. An AI computing platform refers to a system that integrates hardware and software to accomplish complex artificial intelligence services, such as machine learning and data analysis, in an efficient and effective manner. For example, in September 2022, Nvidia Corporation, a technology firm based in the U.S., introduced the NVIDIA IGX platform for high-precision edge AI. This platform aims to provide advanced security and proactive safety specifically for sensitive sectors like manufacturing, logistics, and healthcare. The NVIDIA IGX platform is a robust edge AI computing platform designed for the secure function of autonomous systems in vulnerable industries such as manufacturing, logistics, and healthcare. It is ideally suited to exploit the benefits of AI in industrial automation and medical devices, inspiring safer collaboration between humans and machines. It has proven especially valuable in robotic-assisted surgery, patient monitoring, and intricate manufacturing environments.
What Are the Key Segments in the Edge Computing In Healthcare Market?
The edge computing in healthcaremarket covered in this report is segmented -
1) By Offering: Hardware, Software, Services
2) By Application: Telehealth And Remote Patient Monitoring, Diagnostics, Robotic Surgery, Ambulances, Other Applications
3) By End User: Hospitals And Clinics, Long-Term Care Centers And Home Care Settings, Ambulatory Care Centers, Other End-Users
Subsegments:
1) By Hardware: Edge Servers, Gateways And Routers, Edge Devices, Storage Solutions
2) By Software: Edge Management Software, Analytics And Data Processing Software, Security Software, Application Software For Real-Time Healthcare Data
3) By Services: Deployment And Integration Services, Consulting and Advisory Services, Managed Services, Maintenance And Support Services
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Who Are the Key Players Shaping the Edge Computing In Healthcare Market's Competitive Landscape?
Major companies operating in the edge computing in healthcare market are Google LLC, Samsung Electronics Co., Microsoft Corporation, Verizon Communications Inc., Dell Technologies Inc., Amazon Web Services (AWS) Inc., Lenovo Group Limited, General Electric Company, Intel Corporation, IBM Corporation, Cisco Systems Inc., Qualcomm Incorporated, Hewlett Packard Enterprise Company, Fujitsu Limited, NVIDIA Corporation, Nokia Corporation, Siemens Healthineers AG, Koninklijke Philips NV, VMware Inc., Advantech Co. Ltd., Aruba Networks Inc., ADLINK Technology Inc., Huawei Technologies Co. Ltd., Litmus Automation Inc., Veea Inc., FogHorn Systems Pvt Ltd.
What Geographic Markets Are Powering Growth in the Edge Computing In Healthcare Market?
North America was the largest region in the edge computing in healthcare market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the edge computing in healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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