Edge Computing Industry Overview

The global edge computing market size was valued at USD 16.45 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 36.9% from 2024 to 2030.

Edge computing adds a layer of complexity to organizations by enabling a diverse set of stakeholders to maintain IT infrastructures, networking, software development, traffic distribution, and service management. Edge also combines software, hardware solutions, and networking architecture to cover various use cases in several businesses. Edge computing is currently in its early phases of development. Its deployment and operating models have yet to evolve; nonetheless, edge computing is expected to offer significant growth prospects for new entrants soon.

Gather more insights about the market drivers, restrains and growth of the Edge Computing Market

Businesses use possibilities to respond to the present situation by providing new services. The telecommunications industry is making rapid progress in video conferencing software like Microsoft Teams and Zoom and is creating new solutions to meet the growing demand.

Edge computing demand is expected to rise in the post-COVID-19 pandemic over the next couple of years due to the continued emphasis on developing communications infrastructure. Working from home is quickly becoming the new normal. In addition, as the healthcare system gains traction through online consultations, a network design requiring high security and low-latency connectivity is expected to develop. Telecom firms are expected to take advantage of the opportunity since the cost of adding extra switching capabilities or establishing full-sized data centers will outweigh the cost of edge facilities per unit. This cost advantage will aid telecom businesses in migrating to large-scale data center installations in the coming years.

Edge computing has grown into a solution-specific technology, with special tools and architectures designed for specific use cases. Some use cases where the edge is expected to acquire a considerable share throughout the predicted time include next-generation CDNs, network function, 5G virtualization, and game streaming. This is the first phase toward a future wherein the edge becomes broadly available.

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• The global video conferencing market size was estimated at USD 10.03 billion in 2023 and is expected to grow at a CAGR of 9.4% from 2024 to 2030.
• The global Industry 4.0 market size was estimated at USD 146.14 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 19.9% from 2023 to 2030.

Edge Computing Market Segmentation

Grand View Research has segmented the global edge computing market based on component, application, industry vertical, and region:

Edge Computing Component Outlook (Revenue, USD Million; 2018 - 2030)

• Hardware
• Software
• Services
• Edge-Managed Platform

Edge Computing Application Outlook (Revenue, USD Million, 2018 - 2030)

• Industrial Internet of Things (IIoT)
• Remote Monitoring
• Content Delivery
• Video Analytics
• AR/VR
• Connected Cars
• Smart Grids
• Critical Infrastructure Monitoring
• Traffic Management
• Assets Tracking
• Security & Surveillance
• Smart Cities
• Others

Edge Computing Organization Size Outlook (Revenue, USD Million, 2018 - 2030)

• Small & Medium Enterprise
• Large Enterprise

Edge Computing Industry Vertical Outlook (Revenue, USD Million, 2018 - 2030)

• Industrial
• Energy & Utilities
• Healthcare
• Agriculture
• Transportation & Logistics
• Retail
• Data Centers
• Wearables
• Government & Public Sector
• Media & Entertainment
• Manufacturing
• Telecom & IT
• Others

Edge Computing Regional Outlook (Revenue, USD Million; 2018 - 2030) 

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa (MEA)
  • UAE
  • Saudi Arabia
  • South Africa

Key Companies profiled:

• ABB
• Amazon Web Services (AWS), Inc.
• Aricent, Inc.
• Atos
• Cisco Systems, Inc.
• General Electric Company
• Hewlett Packard Enterprise Development
• Honeywell International Inc.
• Huawei Technologies Co., Ltd.
• IBM Corporation
• Intel Corporation
• Microsoft Corporation
• Rockwell Automation, Inc
• SAP SE
• Siemens AG.

Recent Developments

• In May 2023, Dell Technologies launched NativeEdge, an edge operations software platform. The platform is designed to help companies and businesses optimize and simplify secure edge deployments.
• In April 2023, Nokia launched four third-party applications for MX Industry Edge (MXIE). The application aims to help companies in analyzing data by connecting and collecting the data from operational technology assets in a secure on-premises edge.
• In October 2022, Amazon Web Services announced the public availability of the Amazon Elastic Compute Cloud Trn1 instance, which is powered by Trainium processors built by AWS. Trn1 instances are purpose-built for high-performance machine learning model training in the cloud, with up to a 50% cost-to-train reduction over equivalent GPU-based instances.
• In August 2022, Belden launched the Hirschmann OpEdge-8D device to advance Industrial Internet of Things connectivity in large, complex industrial networks by utilizing edge computing to utilize operational data better.

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