Edge Computing Market

According to a research report "Edge Computing Market by Component (Hardware, Software, Services), Application (Real-time Data Processing & Analysis, Predictive Maintenance, & Optimization), Organization Size (Large Enterprises, SMEs), Vertical and Region - Global Forecast to 2029" published by MarketsandMarkets, the Edge computing market size is expected to grow from USD 60.0 billion in 2024 to USD 110.6 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 13.0% during the forecast period. As the Internet of Things (IoT) gains wider acceptance, numerous sectors are embracing this technology to harness real-time data for improved decision-making. While the influence of IoT is widely acknowledged in fields like retail and healthcare, it is now significantly transforming industries requiring innovation, including manufacturing, transportation & logistics, energy & utilities, food and beverage, and waste management. In conjunction with IoT, Edge Computing offers organizations a resilient framework for instantaneously analyzing crucial data, ushering in a new era of efficiency and agility.

Browse 333 market data Tables and 63 Figures spread through 359 Pages and in-depth TOC on "Edge Computing Market by Component (Hardware, Software, Services), Application (Real-time Data Processing & Analysis, Predictive Maintenance, & Optimization), Organization Size (Large Enterprises, SMEs), Vertical and Region - Global Forecast to 2029"
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The Software segment will record the highest CAGR under Component during the forecast period.

The software segment in the edge computing market encompasses a wide range of solutions designed to enable efficient data processing and analysis at the network's edge. These include edge computing platforms, application software, and management tools. Edge computing software facilitates real-time decision-making, improves latency-sensitive applications, and optimizes resource utilization. With the increasing adoption of IoT devices and the growing demand for low-latency applications across industries such as manufacturing, healthcare, and transportation, the demand for innovative edge computing software solutions is expected to surge in the coming years, driving market growth and technological advancements.

Based on Software, Data management holds the largest share of the Edge computing market during the forecast period.

Data management in edge computing involves organizing, storing, processing, and analyzing data generated at the network's edge. It ensures that valuable insights are extracted from the massive volume of data collected by edge devices, enabling timely decision-making and action. Efficient data management at the edge reduces latency, bandwidth usage, and dependency on centralized cloud resources. It also enhances data security, privacy, and compliance by keeping sensitive information closer to its source. Overall, effective data management in edge computing maximizes operational efficiency, improves scalability, and unlocks new opportunities for innovation and business growth in various industries.

By region, Asia Pacific will record the highest CAGR during the forecast period.

The Asia Pacific Edge computing market is experiencing robust growth driven by regulatory reforms, technological innovation, and changing consumer behaviors. Countries like Australia & New Zealand, Singapore, India, Taiwan, and Malaysia have progressive regulatory frameworks promoting competition and innovation. The affordability and ease of Edge computing deployment would be the major driving factors for adopting cloud technologies. The Asia Pacific region is witnessing rapid growth in the edge computing market, driven by the increasing adoption of IoT devices and the expansion of 5G networks. Countries like China, Japan, and South Korea are at the forefront, leveraging edge computing to enhance manufacturing automation, innovative city initiatives, and healthcare services. Additionally, the proliferation of cloud services and the rise of digital transformation initiatives in various industries further propel the demand for edge computing solutions. As a result, the Asia Pacific region is poised to experience significant investment and innovation in edge computing technologies over the coming years, facilitating efficient data processing and enabling real-time decision-making across diverse sectors in countries, especially Australia & New Zealand, Singapore, China, Japan, and India.

Some of the key players operating in the Edge computing market are IBM (US), Microsoft (US), HPE (US), Google (US), Dell Technologies (US), NVIDIA (US), AWS (US), Cisco (US), among others.

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