Global Edge Computing Market to Grow at a CAGR of 28.4% over the Forecast Period of 2024-2032

The global edge computing market is being driven by the advent of the Internet of Things (IoT) and artificial intelligence (AI) technology, and the growing need to process large volumes of data. The generation of a large amount of data via applications involving IoT, AI, and MI (machine learning) is driving the demand for network resources, localised computers, and enhanced data storage capacity, thus, aiding the growth of the edge computing industry.

North America leads the global edge computing industry, accounting for a significant share in the global market. The growth of the industry in North America can be attributed to the factors like the presence of a large number of edge computing vendors and increased technological acceptance in the region, which leads to the deployment of new technologies, such as IoT and 5G. Further, its adoption rate is higher in large enterprises owing to their increased data generation capacity and widespread geographical presence.

The growing popularity of cloud-based technology is further aiding the industry growth. Microsoft Corporation (NASDAQ: MSFT) made its Azure IoT Edge generally available in 2017, which delivers cloud intelligence through the implementation of Azure services and AI directly on cross-platform IoT devices. The company, in 2018, announced extended offline operation for Azure IoT Edge, enhancing its existing capabilities by enabling device restart and device-to-device communication even when disconnected from the cloud.

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Market Breakup by Component, End Use, and Region:

• By components, the global edge computing industry can be divided into hardware, services, and platforms.
• On the basis of end-uses, the industry is categorised into manufacturing, government and defence, healthcare, transportation and logistics, retail and consumer goods, and telecom and IT, among others. 
• Region-wise, the global edge computing market can be divided into North America, the Asia Pacific, Europe, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global edge computing market is being driven by the rapid advancement in technology and the growing need to manage a large amount of data. 
• The growing adoption of IoT and AI by various organisations are further aiding the industry growth. 
• The growing focus on process automation, as well as cost reduction, is providing further impetus to the industry for its growth. 
• The increased collaboration by the major players with technology providers in order to deploy edge solutions for high-performance applications on a large scale, coupled with the growing adoption of the technology by original equipment manufacturers (OEMs) to develop automation and predictive maintenance solutions, is providing a boost to the industry.

Key Offerings of the Report:

• The EMR report gives an overview of the global edge computing market for the periods (2018-2023) and (2024-2032).
• The report offers historical (2018-2023) and forecast (2024-2032) market trends for the components, end uses, and regional markets for the global edge computing industry.
• It also provides an assessment of the industry based on the Porter’s Five Forces model, along with a SWOT analysis.

The major players in the global edge computing market are Amazon Web Services, Inc., Cisco Systems, Inc. (NASDAQ: CSCO), Hewlett Packard Enterprise Development LP, Huawei Technologies Co., Ltd., International Business Machines Corporation (NYSE: IBM), Capgemini Service SAS, and Microsoft Corporation (NASDAQ: MSFT), among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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