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With Market Size Valued at $17.8 Billion by 2026, it`s a Healthy Outlook for the Global Edge Computing Market
SAN FRANCISCO, March 1, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Edge Computing - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
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What's New for 2022?
- Global competitiveness and key competitor percentage market shares
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Edition: 8; Released: February 2022
Executive Pool: 89978
Companies: 256 - Players covered include ABB Ltd.; ADLINK Technology Inc.; Altran Technologies, SA; Amazon Web Services (AWS), Inc.; Atos SE; Axellio; Azion Technologies Ltd.; Belden Inc.; Cisco Systems, Inc.; ClearBlade, Inc.; Dell Inc.; Digi International Inc.; Edge Intelligence Software, Inc.; EdgeConneX, Inc.; EdgeIQ; Edgeworx, Inc.; Foghorn Systems; General Electric Company; Google LLC; Hewlett Packard Enterprise Development LP; Huawei Technologies Co., Ltd.; International Business Machines Corporation; Intel Corporation; Juniper Networks Inc.; Litmus Automation Inc.; Microsoft Corporation; Moxa Inc.; Nokia Corporation; Rockwell Automation Inc.; Saguna Networks Ltd.; SAP SE; Siemens AG; Sierra Wireless, Inc.; SixSq Sarl and Others.
Coverage: All major geographies and key segments
Segments: Component (Hardware, Platform, Other Components); Application (Smart Cities, Industrial Internet of Things (IIoT), Remote Monitoring, Content Delivery, Other Applications); Vertical (Manufacturing, Retail, Transportation & Logistics, IT & Telecom, Government & Defense, Energy & Utilities, Other Verticals)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Rest of World.
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ABSTRACT-
Global Edge Computing Market to Reach US$17.8 Billion by the Year 2026
Edge computing is rapidly emerging as a technology innovation that can be widely adopted across industries. Edge meets local computing requirements as data is processed in micro-data centers. Applications that are process-intensive, involving advanced technologies like AI, ML and IoT, has and continues to witness rapid development. These applications consume huge loads of data for performing large scale algorithms, creating a strong demand growth scenario for localized data storage and computer network resources. IoT, IIoT and increased adoption of technologies like AI and ML are thus supporting strong growth of edge computing. Growing number of smart city initiatives in countries across the world is also promoting growth for edge computing. These inititives are leading to increase in edge computing implementation by telecom companies, responsible for the deployment of the necessary networks. 5G cellular technologies, delivering massive bandwidths along with supporting a wide array of devices including smartphones, autonomous vehicles as well as large scale IoT, represents another prominent growth promoting factor for the market. One of the reasons driving prioritization of edge computing is its ability to deliver sensor and IoT enabled data analysis. Growing emphasis on process automation and cost reduction combined with intensifying business competition is also anticipated to drive market growth. Increased adoption of edge computing for data center application would also lead to market growth.
Amid the COVID-19 crisis, the global market for Edge Computing estimated at US$7 Billion in the year 2022, is projected to reach a revised size of US$17.8 Billion by 2026, growing at a CAGR of 27% over the analysis period. Hardware, one of the segments analyzed in the report, is projected to grow at a 26.2% CAGR to reach US$10.4 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Platform segment is readjusted to a revised 28.3% CAGR for the next 7-year period. This segment currently accounts for a 19.8% share of the global Edge Computing market. Technologies, such as MEC, EDC, and AMR are increasingly employing routers, sensors, gateways, and edge nodes, which is propelling the requirement for hardware components in edge computing. The hardware segment is also expected to grow at a substantial pace over the next decade, attributed to large-scale deployment of hardware components in edge computing services.
The U.S. Market is Estimated at $2.5 Billion in 2022, While China is Forecast to Reach $2.4 Billion by 2026
The Edge Computing market in the U.S. is estimated at US$2.5 Billion in the year 2022. The country currently accounts for a 36.5% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$2.4 Billion in the year 2026 trailing a CAGR of 35.3% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 23.6% and 27.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 24% CAGR while Rest of European market (as defined in the study) will reach US$3.1 Billion by the year end of the analysis period. North America dominates the global edge computing market, owing to the rising technology acceptance and adequate presence of large market players and startup firms in developed countries, such as the US. In addition, high disposable income of consumers is anticipated to allow the region to maintain its dominance in the global market for over the coming years. In Asia-Pacific, the market growth would be primarily driven by the digital boom in countries, such as China, South Korea, Japan, Singapore, India, and Indonesia. Moreover, rising disposable income and growing penetration of edge computing-based products, such as smart home appliances, electric vehicles, and fitness trackers, are anticipated to growth in the regional market.
By Application, Smart Cities Segment to Reach $7.1 Billion by 2026
Edge computing is one of the vibrant elements behind the emergence of smart cities owing to its ability to enable plethora of new applications and support next-generation smart city solutions. The technology is anticipated to be extensively used by city governors and urban planners for leveraging emerging data-driven technology to find real solutions for pressing challenges. In the recent years, an increasing number of smart cities have started investing in edge computing to avoid reliance on the cloud for data processing and analytics. In the global Smart Cities (Application) segment, USA, Canada, Japan, China and Europe will drive the 28.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.2 Billion will reach a projected size of US$6.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$619.4 Million by the year 2026. More
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Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]
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