Edge computing market 2023-2027 | North America is estimated to account for 42% of the growth of the global market- Technavio
NEW YORK, Oct. 26, 2023 /PRNewswire/ -- According to Technavio, the global edge computing market size is estimated to grow by USD 9,928.42 million from 2022 to 2027. The market is estimated to grow at a CAGR of over 24.74% during the forecast period. The report includes historic market data from 2017 to 2021. In 2017, the market was valued at USD 2454.66 million. By geography, the global edge computing market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global edge computing market. North America is estimated to account for 42% of the growth of the global market during the forecast period. The edge computing market in North America is expected to witness considerable growth owing to the growing emphasis on improving efficiency in IT infrastructure within commercial and industrial environments and the increasing adoption of big data analytics and IoT by end-users. The US and Canada are two of the key markets for edge computing in North America. Enterprise customers in the US and Canada are keen on switching to edge computing, with many companies giving priority to switching from core-to-network edge systems in the next few years. Some of the vendors operating in the region are focusing on launching new edge computing platforms. These factors will drive the growth of the regional market during the forecast period.
Global edge computing market - Five Forces The global edge computing market is fragmented, and the five forces analysis covers?
Bargaining power of buyers
The threat of new entrants
Threat of rivalry
Bargaining power of suppliers
Threat of substitutes
Interpretation of porter's five models helps to strategize the business, for entire details ? buy the report!
Global edge computing market ? Customer Landscape
The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global edge computing market - Segmentation Assessment
Segment Overview Technavio has segmented the market based on end-user (Industrial manufacturing, Telecom, Mobility, Government, and Others), and component (Hardware, Software, Services, and Edge-managed platforms).
The industrial manufacturing segment will account for a significant share of the global market during the forecast period. Some of the end-users in the industrial manufacturing segment are focusing on creating agreements with the vendors operating in the market in focus to incorporate edge computing in their operations. Therefore, such strategic alliances between vendors and end-users can influence the growth of the market in focus during the forecast period.
The rising demand for decentralized computing to reduce latency in decision-making is notably driving the edge computing market growth.
The need for low latency in computing or decision-making tasks is increasing the demand for decentralized edge computing solutions.
Edge nodes are usually placed a single hop away from the device node, which can save considerable time in reducing the roundabout time between the device and the edge node.
Many vendors have started to provide edge computing solutions that can operate independently, without the need for full-time internet access.
This allows users to reduce decision-making time in critical applications. This type of computing environment also leads to the removal of a single point of failure or choke point for internet traffic. These factors are driving the growth of the global edge computing market.
Leading trends influencing the market
The deployment of Industry 4.0 infrastructure is a key trend influencing the edge computing market growth.
Industry 4.0 refers to the use of connected automation systems and technologies, such as cyber-physical systems, IoT devices, cloud computing, and cognitive computing, which can enable large-scale automation in factories.
The adoption of these technologies is expected to influence the demand for edge computing. Industry 4.0-based manufacturing operations and facilities require several IoT sensors, actuators, and communication tools, which constantly generate data.
Edge computing plays an important role in the analysis and implementation of this data in the immediate manufacturing environment in real-time.
Hence, the demand for edge computing is expected to grow with the adoption of Industry 4.0 practices. These factors will support the growth of the market during the forecast period.
Major challenges hindering the market growth
Competition from low-cost centralized and general-purpose computing infrastructure may impede the edge computing market growth.
Centralized computing infrastructure includes cloud data centers, supercomputing facilities, and centralized data centers used by organizations to support their global operations. These facilities can be transformed to provide computing or processing capabilities as a service to anywhere in the world virtually.
Many public/private cloud server operators offer low-cost computing and storage services on a pay-as-you-go basis, which poses a threat to the global edge computing market.
Moreover, setting up edge computing infrastructure may require additional capital spending, network infrastructure, and skilled labor for maintenance and operation.
Furthermore, some vendors provide software-based edge computing solutions. These factors will impede the growth of the market during the forecast period.
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Edge Computing Market Scope
Report Coverage
Details
Page number
185
Base year
2022
Historic period
2017-2021
Forecast period
2023-2027
Growth momentum & CAGR
Accelerate at a CAGR of 24.74%
Market growth 2023-2027
USD 9,928.42 million
Market structure
Fragmented
YoY growth 2022-2023 (%)
22.67
Regional analysis
North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution
North America at 42%
Key countries
US, China, Japan, Germany, and UK
Competitive landscape
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
Alphabet Inc., Amazon.com Inc., Arrow Electronics Inc., Capgemini Service SAS, ClearBlade Inc., Dell Technologies Inc., EdgeConneX Inc., General Electric Co., Hewlett Packard Enterprise Co., Huawei Technologies Co. Ltd., Intel Corp., Nokia Corp., NVIDIA Corp., Renesas Electronics Corp., Schneider Electric SE, Telefonaktiebolaget LM Ericsson, Aarna Networks Inc., Cisco Systems Inc., International Business Machines Corp., and Microsoft Corp.
Market dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Table of contents
1 Executive Summary
1.1 Market overview
Exhibit 01: Executive Summary ? Chart on Market Overview
Exhibit 02: Executive Summary ? Data Table on Market Overview
Exhibit 03: Executive Summary ? Chart on Global Market Characteristics
Exhibit 04: Executive Summary ? Chart on Market by Geography
Exhibit 05: Executive Summary ? Chart on Market Segmentation by End-user
Exhibit 06: Executive Summary ? Chart on Market Segmentation by Component
Exhibit 07: Executive Summary ? Chart on Incremental Growth
Exhibit 08: Executive Summary ? Data Table on Incremental Growth
Exhibit 09: Executive Summary ? Chart on Vendor Market Positioning
2 Market Landscape
2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics
3 Market Sizing
3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
Exhibit 14: Chart on Global - Market size and forecast 2022-2027 (USD million)
Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 (USD million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
4.1 Global edge computing market 2017 - 2021
Exhibit 18: Historic Market Size ? Data Table on Global edge computing market 2017 - 2021 (USD million)
Exhibit 184: International Business Machines Corp. - Overview
Exhibit 185: International Business Machines Corp. - Business segments
Exhibit 186: International Business Machines Corp. - Key news
Exhibit 187: International Business Machines Corp. - Key offerings
Exhibit 188: International Business Machines Corp. - Segment focus
12.16 Microsoft Corp.
Exhibit 189: Microsoft Corp. - Overview
Exhibit 190: Microsoft Corp. - Business segments
Exhibit 191: Microsoft Corp. - Key news
Exhibit 192: Microsoft Corp. - Key offerings
Exhibit 193: Microsoft Corp. - Segment focus
12.17 Telefonaktiebolaget LM Ericsson
Exhibit 194: Telefonaktiebolaget LM Ericsson - Overview
Exhibit 195: Telefonaktiebolaget LM Ericsson - Business segments
Exhibit 196: Telefonaktiebolaget LM Ericsson - Key news
Exhibit 197: Telefonaktiebolaget LM Ericsson - Key offerings
Exhibit 198: Telefonaktiebolaget LM Ericsson - Segment focus
13 Appendix
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 199: Inclusions checklist
Exhibit 200: Exclusions checklist
13.3 Currency conversion rates for USUSD
Exhibit 201: Currency conversion rates for USUSD
13.4 Research methodology
Exhibit 202: Research methodology
Exhibit 203: Validation techniques employed for market sizing
Exhibit 204: Information sources
13.5 List of abbreviations
Exhibit 205: List of abbreviations
About US Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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