Organizations across different sectors use edge computing technology for real-time analysis of huge volumes of data in order to draw actionable insights. This is the key growth driver for the global edge computing market, which will aid its growth to reach approximately USD 9 Bn by 2023, expanding at a compounded annual growth rate (CAGR) of 32.6% during the 2018-2023 period.
Global Edge Computing Market (2018-2023)
Segmentation based on application insights:
For smart cities, edge computing will be a key enabler of civic amenities like transportation, safety, power, and telecommunications. Therefore, smart city initiatives will use edge computing to a great extent and occupy a market share of 25.9% in 2023. Industry 4.0, or the fourth industrial revolution, which includes predictive maintenance, artificial intelligence (AI) and robotics, is expected to witness increased adoption of edge computing technology to enhance manufacturing processes. As a result of this, smart factories will occupy a substantial market share in 2023, and the smart grid segment will experience the highest growth rate during the forecast period.
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End-user industry segment insights:
Edge computing plays a crucial role in sectors such as information technology (IT) and telecommunications, manufacturing, healthcare, logistics, and automotive. Among these, the IT and telecom sector dominated the market by occupying a market share of 29.4% in 2018. The rising demand for faster, more responsive networks, and higher prevalence of distributed IT architecture in several firms are driving the adoption of edge computing technology, globally. Close on its heels, the manufacturing sector occupied approximately 23.2% of the market in 2018. The potential benefits of edge computing in manufacturing facilities are localizing and distributing data storage, providing cost-effective solutions, and maintaining security and compliance. Edge devices are expected to bridge the gap between modern machines and legacy systems.
Regional insights:
North America is leading the innovation in the edge computing market. It occupied approximately 31.6% of the global market in 2018. More than 8.4 Bn connected devices have been added in the region till date, and the number is expected to grow to 20 Bn by 2020, leading to the evolution of the market. Asia-Pacific, experiencing swift industrialization, is anticipated to expand at the highest CAGR (40.5%) during the forecast period. Latin America, and the Middle East and Africa markets, though still at nascent stages, are anticipated to experience high growth.
Companies covered:
• Cisco Systems, Inc.
• Microsoft Corporation
• International Business Machines Corporation (IBM)
• Google LLC
• Amazon.com, Inc.,
• SAP SE
• Oracle Corporation
• Huawei Technologies Co., Ltd.
• Intel Corporation
• General Electric Company
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Table of Contents
Chapter 1. Executive summary
1.1. Market scope and segmentation
1.2. Key questions answered
1.3. Executive summary
Chapter 2. Global edge computing market – overview
2.1. Market definition
2.2. Global market overview – historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), geography-wise market revenue (USD Bn), and market attractiveness analysis
2.3. Market drivers
2.4. Market trends
2.5. Market challenges
2.6. Value chain analysis
Chapter 3. Global edge computing market – based on application
3.1. Global – smart city market – forecasted (2018-2023) market size (USD Bn), drivers, trends
3.2. Global – smart factory market – forecasted (2018-2023) market size (USD Bn), drivers, trends
3.3. Global – connected healthcare market – forecasted (2018-2023) market size (USD Bn), drivers, trends
3.4. Global – connected vehicle market – forecasted (2018-2023) market size (USD Bn), drivers, trends
3.5. Global – smart grid market – forecasted (2018-2023) market size (USD Bn), drivers, trends
3.6. Global – ‘others’ market – forecasted (2018-2023) market size (USD Bn), drivers, trends
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