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Edge Computing Market Size to reach USD 22.2 Billion By 2026 Growing at 16.6% CAGR | GlobalData Plc
News provided byEIN Presswire
Nov 24, 2022, 8:37 AM ET
LONDON, UK, November 24, 2022 /EINPresswire.com/ -- The global edge computing market size reached USD 9.7 billion in 2021, according to a new report by GlobalData Plc. The increasing adoption of the internet of things (IoT) and 5G technology is expected to bode well for market growth over the forecast period. Furthermore, investments by telecom companies for the modernization of networks are anticipated to drive market growth over the next few years.
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The COVID-19 disruptions have accelerated the adoption of edge computing across industries. For example, a large proportion of the world's population now relies on online and video communication technologies for homeworking, remote schooling, shopping, entertainment, and staying in contact with others. This has increased the pressure on network infrastructure and created a demand for edge computing. Also, the need to automate processes in manufacturing, retail, and other industries contributed to market growth.
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Edge Computing Market Report Highlights
• The global edge computing market is projected to witness a CAGR of 16.6% from 2022 to 2026, reaching a value of $22.2 billion. Increasing adoption of IoT, the introduction of 5G technology, and increasing investments in network modernization are contributing to the growth of the edge computing market worldwide.
• In 2021, the hardware segment captured a significant share with a market size projected to reach $13 billion by 2026 at a CAGR of 19.5% from 2022 to 2026. The growth of this segment is mainly driven by investments by telecom companies and businesses in the modernization of network infrastructure.
• BFSI, largely driven by the use of edge computing technologies to process and leverage data, was the largest end-use market for edge computing in 2021. The communication segment is expected to witness the fastest growth over the forecast period.
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• COVID-19 disruptions led to increased adoption of edge computing. Major areas of adoption included online and video communication technologies for remote working, automated processes in manufacturing industries, and others.
• The Asia Pacific and North America together captured over 60% of the overall edge computing demand in 2021. With increasing adoption across industries, the market for edge computing is expected to grow in other regions as well.
• The key edge computing market players analyzed as part of this report include Microsoft Corporation, IBM Corporation, Hewlett Packard Enterprise Co, Dell Technologies Inc, Cisco Systems Inc, Amazon, Intel Corporation, Huawei Technologies Co. Ltd, Telefonaktiebolaget Lm Ericsson, and EdgeConnex.
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GlobalData Plc has segmented the Edge Computing market report by IT infrastructure, vertical, application, employee size band, and region:
Edge Computing Market – Revenue Opportunity Forecast, by IT Infrastructure 2019-2026 (US$ million)
• Edge Computing Market – Revenue Opportunity Forecast, by Hardware segments 2019-2026 (US$ million)
o Edge Data Centers
o Telco Edge Solutions
o Edge Gateway Hardware
o Enterprise Edge Hardware
o Device Edge
• Edge Computing Market – Revenue Opportunity Forecast, by Software segments 2019-2026 (US$ million)
o Edge Software (Others)
o Edge Software/Platforms
o Edge Aggregation & Orchestration
• Edge Computing Market – Revenue Opportunity Forecast, by Services segments 2019-2026 (US$ million)
o Edge Integration Services
o Managed Edge Services
o IoT Edge/Edge Gateways Connectivity
Edge Computing Market – Revenue Opportunity Forecast by Regions, 2019-2026 (US$ million)
• Asia Pacific
o South Korea
o Rest of Asia Pacific
• North America
• South & Central America
o Rest of South & Central America
• Western Europe
o United Kingdom
o Rest of Western Europe
• Central & Eastern Europe
o Rest of Central & Eastern Europe
• Middle East & Africa
o United Arab Emirates
o South Africa
o Saudi Arabia
o Rest of MEA
Edge Computing Market – Revenue Opportunity Forecast by Vertical Industry Segments, 2019-2026 (US$ million)
• Information Technology
Edge Computing Market – Revenue Opportunity Forecast by Application Segments, 2019-2026 (US$ million)
• Smart cities
• Content Delivery Networks
• Remote Monitoring
Edge Computing Market – Revenue Opportunity Forecast by Employee Size Band, 2019-2026
• Micro (Less than 50)
• Small (51-250)
• Medium (251-1000)
• Large (1001-4999)
• Very Large (5000+)
For more segment-wise insights and regional opportunities, Download Sample PDF at: https://www.globaldata.com/store/talk-to-us/?report=3293316
GlobalData is a leading provider of data, analytics, and insights on the world's largest industries. In an increasingly fast-moving, complex, and uncertain world, it has never been harder for organizations and decision-makers to predict and navigate the future. GlobalData's mission is to help our clients to decode the future and profit from faster, more informed decisions. As a leading information services company, thousands of clients rely on us for trusted, timely, and actionable intelligence. Our solutions are designed to provide a daily edge to professionals within corporations, financial institutions, professional services, and government agencies.