The Edge computing market is anticipated to expand at a Compound Annual Growth Rate (CAGR) of 13.0% from USD 60.0 billion in 2024 to USD 110.6 billion in 2029 throughout the forecast period. Enhanced data security, lower latency, higher bandwidth gains across verticals, organizations, and regions globally, and higher adoption of digital transformation initiatives are expected to drive the growth of the global Edge computing market.
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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.
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Unique Features in the Edge Computing Market
Edge computing brings computational resources closer to data sources, reducing latency and improving response times for real-time applications and services.
Edge computing uses a decentralised architecture, dispersing processing and storage capacity among dispersed edge devices and nodes, in contrast to traditional centralised cloud computing.
By processing data locally at the edge, edge computing allows programmes to work offline or with sporadic connectivity, guaranteeing uninterrupted operation and functionality even in isolated or disconnected situations.
By processing and filtering data at the edge before delivering it to centralized data centers, edge computing minimises the quantity of data transmitted over the network, optimizing bandwidth utilisation and minimising network congestion.
Because edge computing solutions are so adaptable and scalable, businesses can set up edge nodes and devices to meet their unique needs and expand their edge infrastructure to meet fluctuating demand and workloads.
Major Highlights of the Edge Computing Market
In order to facilitate seamless integration and interoperability across edge platforms and devices, industry consortia and standards bodies are working to define common frameworks, protocols, and APIs. Standardisation and interoperability are becoming increasingly important in the edge computing market.
With vendors developing Edge-as-a-Service (EaaS) platforms that enable on-demand access to edge resources, apps, and services, edge computing is moving towards a service-based approach. This allows organisations to deploy and manage edge workloads more effectively.
Edge computing facilitates the deployment of artificial intelligence (AI) and machine learning (ML) models at the edge, allowing companies to execute inference and decision-making locally, lowering latency and enhancing efficiency.
By connecting with current cloud infrastructure and extending cloud services to the edge, edge computing enhances cloud computing. This allows for hybrid cloud architectures, which combine the low-latency processing of edge devices with the scalability of the cloud.
By processing sensitive data locally at the edge and lowering the chance of data exposure and unauthorised access during transmission across public networks, edge computing improves security and privacy.
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Top Companies in the Edge Computing Market
Major vendors in this market are based in North America, Asia Pacific, and Europe. Some of the key players operating in the Edge computing market are – Microsoft (US), HPE (US), Google (US), IBM (US), and Intel (US), among others. These companies have strengthened their positions in the market by implementing a variety of growth tactics. To increase their market share in Edge computing offerings/market, they have been practicing organic and inorganic growth strategies such as product launches, agreements, collaborations, mergers and acquisitions, and the creation of new products.
AWS
AWS plays a significant role in the global edge computing market by providing a range of services and solutions tailored to meet the demands of edge computing architectures. With its extensive network of data centers and edge locations, AWS enables businesses to deploy applications closer to end-users, reducing latency and improving performance. AWS offers services such as AWS Outposts, AWS Wavelength, AWS IoT Greengrass, and AWS Local Zones, facilitating edge computing deployments across various industries, including IoT, gaming, and media streaming. According to recent statistical data, AWS continues to dominate the cloud market, with a market share of approximately 32%.
For over 15 years, AWS has maintained its position as the most extensive and widely adopted cloud platform globally. AWS has consistently broadened its array of services to accommodate virtually any cloud-based workload, offering over 200 fully featured services spanning compute, storage, databases, networking, analytics, machine learning, IoT, mobile, security, hybrid solutions, VR/AR, media, and application development and management. With 96 Availability Zones (AZ) across 30 geographic regions and plans to introduce 15 more AZ and five additional AWS Regions, AWS remains a trusted choice for millions of customers, ranging from burgeoning startups to Fortune 500 companies and government agencies, enabling them to enhance agility and reduce costs.
Dell Technologies
Dell Technologies is a key player in the global edge computing market. It offers a comprehensive portfolio of edge solutions designed to enable organizations to process and analyze data closer to its source. With its Edge Gateway and PowerEdge server offerings, Dell empowers businesses to deploy edge computing solutions efficiently, improving latency, enhancing security, and enabling real-time insights across various industries. According to recent statistical data by IDC, Dell Technologies maintained its position as the leading vendor in the x86 server market in Europe, the United States, Canada, India, and other regions in the third quarter of 2021 (July through August). Dell’s strong performance in these markets underscores its significance in the global edge computing landscape.
Microsoft
Microsoft is a multinational technology company that develops, licenses, and supports various software products, services, and devices. The company operates through three primary business segments: productivity and business processes, intelligent cloud, and personal computing. Microsoft caters to various verticals, including education, insurance, government, health, hospitality and travel, and retail and consumer goods. The company’s API management solution offers enterprises self-service, autogenerated, real-time, secure, and service interruption-free solutions. The company distributes and markets its products through OEMs, resellers, distributors, and online and Microsoft retail stores. It caters to a diverse client base across North America, Asia Pacific, Latin America, the Middle East, Africa, and Europe.
Microsoft has emerged as a critical edge computing player in the rapidly expanding market. Leveraging its extensive experience in cloud computing and software solutions, Microsoft has strategically positioned itself to capitalize on the growing demand for edge computing services. With offerings such as Azure Edge Zones and Azure IoT Edge, Microsoft enables businesses to deploy and manage applications closer to the network’s edge, thereby reducing latency and improving performance. Microsoft empowers organizations to unlock new insights and drive innovation at the edge by combining its robust cloud infrastructure with advanced analytics and AI capabilities. With its comprehensive suite of edge computing solutions, Microsoft continues to play a pivotal role in shaping the future of decentralized computing architectures and addressing the evolving needs of businesses across industries.
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