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Home Technology and Telecom IT And ITES Global Edge Computing Market Outlook, and Revenue Forecast 2022-2028: Ken Research

Global Edge Computing Market Outlook, and Revenue Forecast 2022-2028: Ken Research

Market Overview

Edge computing adds to the organization’s complexity by allowing a broad group of stakeholders to maintain IT infrastructures, networking, software development, traffic distribution, and service administration. Edge further blends networking architecture, software, and hardware solutions to address a range of use cases across numerous industries. The development of edge computing is still in its early stages. Although it’s operational and deployment models have not yet developed, edge computing is anticipated to present considerable growth opportunities for new entrants in the coming years.

According to Ken Research Analysis, the Global Edge Computing Market was valued at ~US$ 3 billion in 2017. It is estimated to be ~US$ 8 billion by 2022 and is expected to reach a market size of ~US$ 20 billion by 2028 growing at a CAGR of ~16% during the forecast period (2022-2028). Edge computing demand is anticipated to increase as a result of the rollout of 5G and the rising demand for decentralized data processing capability.

  • Edge computing use cases include the consumer desire for high-performance smartphone applications like high-definition multiplayer online battle arena (MOBA) games. Edge computing and the Internet of Things (IoT) offer attractive potential for edge computing architecture in developing nations like China, India, and Indonesia.
  • Since the storage and computing power of edge nodes is constrained, a well-equipped system is needed to connect the edge and the cloud. The barrier to the growth of the edge computing market will be the rise in network traffic from numerous nodes. Even when they are employing high bandwidth needs, many IT professionals still have the same problems.
  • Data centers and edge computing are now used more frequently due to the COVID-19 pandemic. Businesses across a wide range of industry sectors have scaled back their spending in upgrading servers and software to significantly reduce costs. Due to the ongoing focus on improving communications infrastructure, edge computing demand has increased since the COVID-19 outbreak and will continue to climb over the next years. In addition, a network design that demands high security and low latency connectivity are growing alongside the healthcare system as it has gained traction through online consultations.global-edge-computing-market-share

Scope of the Report

The edge computing market is segmented by component, application, and end-user. In addition, the report also covers market size and forecasts for the four region’s edge computing markets. The revenue used to size and forecast the market for each segment is US$ billion.

Key Trends by Market Segment

By Component: The hardware segment held the largest market share in 2021 as it is becoming more and more popular in the managed services sector.

  • The amount of data produced by IoT and IoT devices is rapidly growing along with their quantity. Enterprises are therefore implementing edge computing equipment to reduce the stress on the cloud and data centers to the volume of data generated.
  • Further subdivided into edge nodes/gateways (servers), sensors/routers, and others, the hardware market was dominated by the edge nodes/gateways (servers) segment. Additionally, the expansion of data centers in a variety of industries increases the demand for edge routers that connect local and wide-area networks (WAN).

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By Application: Industrial Internet of Things (IIoT) segment held the largest market share in 2021, In the manufacturing sector, edge computing has a sizable installed base in the form of device edge. As services become more complex and the infrastructure edge is made more accessible, it is anticipated that demand for edge infrastructure will rise.

  • Edge computing has been essential in helping businesses digitalize their facilities. Machine edge computing makes up a significant percentage of edge computing in the industrial sector.
  • Demand for edge infrastructure that is set up to guarantee is expected to increase as system complexity increases and the edge of the infrastructure becomes more accessible.

By End-User: Energy & utility segment held the largest market share in 2021, smart grids, which rely on device-edge infrastructure, are probably going to help the energy and utility sector’s income grow.

  • Global attempts to increase the efficiency of electrical utility services, including the development of alternative renewable power sources like solar and wind, are being fueled by environmental sustainability programs.
  • In order Tocapabilities and improve operating efficiencies, smart grids are being implemented all over the world. These networks can support microgrids to support generation from dispersed renewable sources, real-time consumption control, and integration with smart appliances.

By Geography: North America segment held the largest market share in 2021, The convergence of IIoT and edge computing is creating favorable conditions for manufacturers in the USA to transition to connected manufacturing.

  • Several startups have also emerged to provide platforms for building edge-enabled solutions, which are expected to help the regional market’s growth. For instance, the MobiledgeX Early Access Program was developed in cooperation between Telus Communications and MobiledgeX, Inc. The software has made it possible for programmers to create, test, and evaluate the effectiveness of edge-enabled apps in a low-latency setting.

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Competitive Landscape

  • The global edge computing market is highly competitive with ~200 players which include globally diversified players, regional players, and country-niche players with their niche in the edge computing market.
  • County-niche players constitute ~45% of the market, while the regional players are the second largest by type. Some of the major players in the market include General Electric Company, IBM Corporation, Intel Corporation, Microsoft Corporation, SAP SE, Amazon Inc., Huawei Technologies Co. Ltd., Hewlett Packard Enterprise Development, Honeywell International Inc., Google LLC, and others.

Recent Developments Related to Major Players

  • In June 2022, SixSq announced their continued collaboration to provide Nuvla Marketplace users with intelligent sound-embedded software that can analyze particular sounds in any situation. The unique sound processing technology from Securaxis can now be purchased, deployed, and managed much more easily thanks to this agreement.
  • In May 2022, Litmus and Google Cloud collaborated to create the Manufacturing Connect platform, which simplifies the hard operation of collecting data from different industrial equipment and exposing it to Google Cloud data and Al applications. A factory edge platform called Manufacturing Connect is designed specifically to accommodate more than 250 machine communication protocols right out of the box. For advanced analytics and Al, data is organized, stored locally, and transmitted to Google Cloud. For closed loop Al, the platform can manage and deploy machine learning and AI models at the edge.
  • In April 2022, Dell Technologies expanded its edge solutions to assist retailers in fast generating more value and providing superior customer experiences based on data gathered in retail locations. To keep up with market demands and improve consumer experiences, retailers have adopted cutting-edge technologies in everything from supermarket merchandising and curbside pickup to seamless checkout and loss prevention.

Conclusion

The global edge computing Industry is forecasted to continue the growth that is witnessed since 2017, edge computing is a method that handles data processing at the network’s edge. For instance, a mobile phone might be an edge device in the telecom industry. As a result, every device that produces data near the network’s edge serves as an edge device. The primary drivers of the growth of the worldwide edge computing market include variables like the rise in the number of intelligent apps and the increased global strain on cloud infrastructure. Though the market is highly competitive with ~200 players, few global players control the dominant market share and regional players also hold a significant market share.

Key Topics Covered in the Report

  • Snapshot of the Global Edge Computing Market
  • Industry Value Chain and Ecosystem Analysis
  • Market size and Segmentation of the Global Edge Computing Market
  • Historic Growth of the Overall Global Edge Computing Market and Segments
  • Competition Scenario of the Market and Key Developments of Competitors
  • Porter’s 5 Forces Analysis of the Global Edge Computing Industry
  • Overview, Type Offerings, and Strengths & Weaknesses of Key Competitors
  • COVID-19 Impact on the Overall Global Edge Computing Market
  • Future Market Forecast and Growth Rates of the Total Global Edge Computing Market and by Segments
  • Market Size of Application Segments with Historical CAGR and Future Forecasts
  • Analysis of Global Edge Computing in Major Regions
  • Major Type/Supply and Consumption/Demand Hubs within Each Region
  • Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
  • Overview of Notable Emerging Competitor Companies within Each Major Region

Major Players Mentioned in the Report

  • General Electric Company
  • IBM Corporation
  • Intel Corporation
  • Microsoft Corporation
  • SAP SE
  • Amazon Inc.
  • Huawei Technologies Co. Ltd.
  • Hewlett Packard Enterprise Development
  • Honeywell International Inc.
  • Google LLC

Notable Emerging Companies Mentioned in the Report

  • EdgeConnex Inc.
  • ClearBlade
  • Digi International
  • Axellio

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

  • Edge Computing Companies
  • Edge Computing Association
  • Cloud Server Manufacturers
  • Networking Equipment Manufacturers
  • Research & Development Institutes for Edge Computing
  • Edge Computing Manufactures
  • Technology Research Associations
  • Edge Computing Solution Suppliers
  • Edge Computing Component Providers
  • Investment Banks Targeting Edge Computing Market
  • PE and VC Firms Targeting Edge Computing Industry
  • Government Ministries and Departments of Information Technology
  • Government Ministries and Departments of Communications Industry
  • Potential Entrants into Edge Computing Industry

For more insights on the market intelligence, refer to the link below: –

Global Players in Edge Computing Industry

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