The global edge computing market size is projected to reach USD 3.24 billion by 2025, according to a study conducted by Grand View Research, Inc., expanding at a phenomenal CAGR of 41.0% during the forecast period. Need for advanced technologies is stimulating the volume of IoT data. Vast amount of data created by IoT devices may cause delays and latency. Edge computing solutions help enhance the data processing power, which further aid in avoiding delays. Data processing takes place closest to the source of the data, thus enabling the provision of real-time insights.
Presence of a high connectivity network in regions such as North America has facilitated the widespread adoption of edge computing solutions. Thus, the North America market is expected to witness substantial growth over the forecast period. Additionally, presence of prominent players such as Cisco Systems, Inc.; General Electric; Hewlett Packard Enterprise Development LP; International Business Machines (IBM); Microsoft; and SAP SE is anticipated to boost the growth of the regional market.
Edge computing is used in various applications such as manufacturing, IT & telecommunications, healthcare. The healthcare & life sciences segment is estimated to witness the highest CAGR between 2017 and 2025, owing to storage capabilities and real-time computing offered by edge computing solutions, which enable the delivery of reliable healthcare services in lesser time. The decision-making process is improved as network failures and delays are avoided.
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Further key findings from the study suggest:
The healthcare & life sciences segment is estimated to cross USD 326 million by 2025. The growth of the segment can be attributed to provision of storage capabilities and real-time computing by edge computing solutions.
The SMEs segment is poised to witness the highest CAGR of 46.5% over the forecast period. Edge computing helps reduce operational costs of enterprises by processing and storing the data at the edge of the network.
Based on technology, the mobile edge computing segment dominated the market in 2016 and this trend is likely to continue over the forecast period.
North America will lead the market throughout the forecast period, owing to increasing penetration of IoT devices in countries such as the U.S. and Canada.
Prominent players in the edge computing market include Aricent, Inc.; Amazon Web Services, Inc. (AWS); Cisco Systems, Inc.; General Electric; Hewlett Packard Enterprise Development LP; Huawei Technologies Co.; Ltd.; International Business Machines (IBM); Intel Corporation; Microsoft; and SAP SE.
Grand View Research has segmented the global edge computing market based on vertical, organization size, technology, and region:
Edge Computing Vertical Outlook (Revenue, USD Million, 2016 - 2025)
Energy & Utilities
IT & Telecom
Healthcare & Life Sciences
Transportation & Logistics
Edge Computing Organization Size Outlook (Revenue, USD Million, 2016 - 2025)
Small & Medium Enterprises (SMEs)
Edge Computing Technology Outlook (Revenue, USD Million, 2016 - 2025)
Mobile Edge Computing
Edge Computing Regional Outlook (Revenue, USD Million, 2016 - 2025)
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