Edge Computing Market

As per Wantstats, the global Edge Computing Market has been growing significantly over the past few years. It is expected to reach USD 1,68,686.8 million by 2030, at a CAGR of 42.1% during the forecast period, 2022–2030.

Edge computing demand is rising in the post-COVID-19 epidemic because of continuous emphasis on improving communications infrastructure. Working from home is becoming the new normal. Furthermore, as the healthcare system gains traction through online consultations, a network design needing high security and low-latency connectivity is predicted to emerge. Telecom companies are likely to take advantage of the opportunity since the cost of adding further switching capabilities or creating full-sized data centers will surpass the cost of edge facilities per unit. This cost advantage will help telecom companies migrate to large-scale data center projects in the future years. Edge computing has evolved into a solution-specific technology, with tools and architectures tailored to certain use cases. Next-generation CDNs, network functions, 5G virtualization, and game streaming are some of the use cases where the edge is likely to gain a significant share over the forecast period. This is the first step toward a world in which the edge is widely available.

The global Edge Computing Market has been segmented based on Technology, Deployment, Component, Application, Vertical, and Region. The technology segment is again bifurcated into Mobile Edge Computing, and Fog Computing. By Technology segment, Fog Computing accounted for the largest market share with a market value of USD 5,228.4 million in 2021, which is projected to grow at a CAGR of 38.6% during the forecast period. Based on the deployment, On-Premise accounted for the largest market share with a market value of USD 5,090.5 million in 2021 and is projected to grow at a CAGR of 41.5%. By Cloud Deployment sub segment, the market is again bifurcated into Public and Private. Based on Cloud Deployment sub segment, Public accounted for the largest market share with a market value of USD 2,207.3 million in 2021 and is projected to grow at a CAGR of 42.9%. Based on Component, the global Edge computing Market is bifurcated into Hardware, Software/ Solutions, and Services. Based on Hardware subsegment the market is again bifurcated into Processors/CPUs, Network Gateways, Storage Devices, Servers, Routers & Switches, Sensors, Controllers, and Others.

Based on Hardware subsegment, Processors/CPUs accounted for the largest market share with a market value of USD 1,130.7 million in 2021 and is projected to grow at a CAGR of 38.9%. Based on Application segment, the Industrial Internet of Things (IIoT) accounted for the largest market share with a market value of USD 2,089.6 million in 2021 and is projected to grow at a CAGR of 39.6%.

Based on Vertical, Manufacturing accounted for the largest market size with a market value of USD 4,364.3 million in 2021 and is projected to grow at a CAGR of 44.0%. The manufacturing sub segment is again bifurcated into Discrete Industry and Process Industry. Based on the Discrete Industry sub segment, Automotive accounted for the largest market value USD 1,260.2 million in 2021 and is projected to grow at a CAGR of 45.1%. Based on Process Industry sub segment, the Energy, Power & Utilities industry is accounted for the largest market share with a market value of USD 526.6 million in 2021, which is projected to grow at a CAGR of 45.7%. Based on Region, it is bifurcated as North America, Europe, Asia-Pacific, and Rest of the World. Where North America accounted for largest market value of USD 3,677.1 million in 2021 and is projected to grow at a CAGR of 40.9%.