Edge Computing Market, by Component (Hardware, Platform, and Services), by Application (Smart Cities, IoT, Content Delivery, Remote Monitoring, AR and VR), by Organization Size (Small & Medium Size Enterprise and Large Enterprises), and By Region - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Edge Computing Market size accounted 3.6 billion in 2020 is estimated to reach 65.2 billion by 2030 growing with a CAGR of 33.60% during the forecast timeline. Edge computing is a computing process done closer to the source of data without depending on cloud at multiple data centers working together. Edge computing increases the computing speed and reduces latency which is very crucial in vehicles like autonomous cars as it don’t have time to go back and forth with cloud while processing real time data which requires time. But, edge computing has the ability to process real time data and make quick decision for the safety of the car with quicker response time because even one millisecond is very vital for autonomous cars to run safely while on the road.

Market Segmentation:

On the basis of component the edge computing market is classified into hardware, platform, and service. Furthermore, based on application the market is categorized into smart cities, IoT, content delivery, remote monitoring, AR and VR. Additionally, by organization size the market is categorized into small & medium size enterprise and large enterprises. Moreover, by geography the edge computing market is divided into North America, Europe, Asia Pacific, and RoW.

Market Dynamics and Factors:

Assistance for real time application is one of the major driving factor for the edge computing market. Edge computing possesses ability to increase computation speed and reduce latency of data processing which is highly crucial in several industries like industrial automation, autonomous vehicles, retail and others as they require the ability to process real time data to avoid errors and unwanted problems that could occur. However, addition of more local hardware and greater maintenance cost is one of the major restraining factor of the edge computing market. Furthermore, increasing used of edge computing in IoT devices act as an immense opportunity for the edge computing market growth. Moreover, cyber security issue one of the main concern which act as a challenge for the edge computing market. Since, it provided the ability to connect more devices to the internet which makes it vulnerable from malicious hackers who want to take advantage of the system.

Geographic Analysis:

North America is the major revenue generator and is anticipated to continue its dominance during the coming years. Factor contributing to the high demand of the product includes the rapid growth of the used of internet of things, leading in 5G deployment, growth of gaming and e-commerce industries and others are responsible for the growth of market in this region. Asia Pacific is the second dominating region and the fastest growing region. Some of the factors contributing to the increase edge computing market growth in this region are support the implementation of the technology in smart cities, increasing investment of research and development in edge computing, large acceptance of the technology by multiple industries, increase in growth of economy and others.  

Competitive Scenario:

The key players operating in edge computing industry are Microsoft Corp., Google LLC., Huawei Technologies Co. Limited., Amazon Web Services, Inc., Dell EMC, Cisco Systems, Inc., International Business Machines Corp., Intel Corp., and others.

Edge Computing Market Report Scope