Global Edge Computing Service
Market Report
2024
Delivery Includes:- Market Timeline 2019 till 2031, Market Size, Revenue/Volume Share, Forecast and CAGR, Competitor Analysis, Regional Analysis, Country Analysis, Segment Analysis, Market Trends, Drivers, Opportunities, Restraints, ESG Analysis, Porters Analysis, PESTEL Analysis, Market Attractiveness, Patent Analysis, Technological Trend, SWOT Analysis, COVID-19 Analysis, Consumer Behavior Analysis, etc.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global Edge Computing Service market size will be USD XX million in 2023 and will expand at a compound annual growth rate (CAGR) of XX% from 2023 to 2031.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Market Size | 121212 |
Country Market Size | 121212 |
North Americ Market Size | 121212 |
Europe Market Size | 121212 |
Asia Pacific Market Size | 121212 |
South America Market Size | 121212 |
Middle East and Africa Market Size | 121212 |
Market Split by Component |
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Market Split by End-User |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Edge Computing Service Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Edge computing is a technology that enables the processing and storage of data closer to the source, allowing for rapid and real-time analysis. This distributed computing paradigm brings computation and data storage closer to data sources, reducing response times and bandwidth. Edge computing services focus on processing data faster and in greater volume close to the generation site, delivering real-time, action-driven solutions. It adds complexity to organizations by enabling diverse stakeholders to maintain IT infrastructures, networking, software development, traffic distribution, and service management. Edge combines software, hardware solutions, and networking architecture to cover various use cases in businesses. Currently, in its early stages of development, edge computing offers significant growth prospects for new entrants.
The growing requirement for real-time applications and low-latency data transfer is driving a surge in demand for edge computing. Even though centralized cloud computing systems have advantages, processing times are often prolonged because of their distance from data sources. As a result, edge computing is becoming more and more in demand in the industrial sector. 5G's reduced latency and network slicing capabilities are what are driving its adoption in the industrial sector. Processing the massive volumes of data generated by industrial robots and networked devices is very beneficial in this regard. The cloud's cost-effectiveness, scalability, and flexibility encourage firms to use it, which accelerates market expansion.
For instance, Dai, Nishi, et al.’s Industrial Edge Computing: Enabling Embedded Intelligence discusses how industrial edge computing provides a distributed platform that enhances real-time applications by integrating communication, computation, and storage capabilities, directly accessible from the cloud. This is essential in meeting the real-time application demands in the industrial sector, where agility, data optimisation, and intelligent applications are crucial.
https://doi.org/10.1109/MIE.2019.2943283
As businesses integrate their services with the cloud, handling large amounts of data and processing traffic from IoT and AI devices, edge-powered SaaS on 5G networks is becoming more and more popular. Low-latency, high-speed wireless connections are becoming more and more necessary as enterprises integrate IoT and artificial intelligence solutions. 5G and multi-access edge computing (MEC) provides solutions for controlled service quality and minimal latency. Global corporations are investing more as 5G is implemented; over 380 telecom carriers are doing so to increase speed and agility. Using 5G and 6G infrastructure for edge computing can simplify operations, cut expenses, and improve cybersecurity measures.
For instance, Trinks & Felden outline the importance of edge computing in supporting real-time analytic applications within Industry 4.0 and smart factories, demonstrating how edge computing helps manage large data volumes and support real-time processing, which is critical for edge-powered SaaS on 5G networks.
https://doi.org/10.1109/BigData.2018.8622649
Due to the dispersion of data throughout the network, the enormous network of devices and data centres in the IoT industry may result in visibility and management problems. Similar issues affect edge computing equipment, and security flaws can provide hackers simple access to the main network. The network is fragile because it lacks a single-owner ecosystem and global perimeter. Localised attacks that take over a portion of the infrastructure may restrict market expansion. Because the construction and maintenance of edge infrastructure may increase enterprises' capital expenditures, the market's potential growth may be limited by the large initial investment in edge computing. Data, size, skill, and geography all affect the cost of edge computing, and the design of the edge environment may have an additional effect on overall expenses. As a result, providers incur high expenditures to secure the entire computing network, which limits industry growth.
For instance, Huang Zeyu et al. conducted a comprehensive survey addressing the security challenges of edge computing, highlighting the vulnerabilities due to the distributed nature of devices and data centers. It discusses how these security concerns can restrict market expansion.
https://doi.org/10.1109/ICBAIE49996.2020.00027
Businesses should expect cost savings as a result of the increased utilisation of data centres and edge computing brought on by the COVID-19 epidemic. However, because of the emphasis on creating communications infrastructure, the telecom and healthcare sectors should see an increase in the need for edge computing. High security and low latency communication are projected to become more crucial as working from home becomes the new norm. Since the cost of building full-sized data centres or adding more switching capacity will exceed the cost of edge facilities per unit, telecom companies are anticipated to take advantage of this opportunity. In the upcoming years, this financial benefit will aid telecom companies in their transition to extensive data centre construction.
For instance, Tom Coughlin, although not directly, discusses edge computing – providing insights into how the pandemic affected consumer technology markets, which can be extrapolated to understand shifts in edge computing demand due to changes in consumer and business behaviours during COVID-19.
https://doi.org/10.1109/MCE.2020.3016753
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Prominent entities in the worldwide market persistently partake in mergers and acquisitions as a means of consolidating their competitive advantage over rival firms. They are using this tactic to bring together their greatest strengths and the knowledge of the businesses they purchase. The resulting goods from this combination are able to effectively meet the evolving needs of the users. The major market players are engaged in a significant degree of merger and acquisition (M&A) activity, which is another characteristic of the edge computing market. This is caused by a number of things, such as the market for edge computing becoming more strategically significant, worldwide expansion, rapid technological breakthroughs, and extensive service offerings.
Telefónica and Lenovo have teamed up to revolutionize telecommunications by utilizing cloud computing concepts and technologies. This innovative approach allows for flexible, efficient services across various platforms and locations, demonstrating the potential of multi-cloud environments to save lives. – Lenovo StoryHub, 25th February 2024
https://news.lenovo.com/telco-enters-next-stage-of-evolution-edge-telefonica/
Lenovo introduces new cutting-edge AI services and commercial solutions. With the launch of the ThinkEdge SE455 V3, Lenovo is growing its line of products. It is the most potent edge server available and offers ground-breaking efficiency to handle the most demanding remote AI applications. – Economic Times, 21st September 2023
https://economictimes.indiatimes.com/tech/technology/lenovo-launches-new-edge-ai-services-solutions-for-businesses/articleshow/103831308.cms?from=mdr
Top Companies Market Share in Edge Computing Service Industry: (In no particular order of Rank)
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Region and country analysis section of Edge Computing Service Industry Analysis has been segmented into 5 major region such as North America, Europe, Asia Pacific, Middle East & Africa ,and Latin America (along with respective major contributing countries) and provides the revenue share, current trends.
The base years considered for all the estimations by analyzing trends and growth rate will help you gain an in-depth understanding of the conclusions provided in this report. This report also includes figures, graphs, pie charts, tables and bar graphs that explain the data analysis based on current trends at the country level as well as key regions. This research report also focuses on assessing factors such as profit, product price, capacity, production, supply demand market growth rate along with others to create a clear picture on the future prospects of Edge Computing Service market.
The current report Scope analyzes Edge Computing Service Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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Global Edge Computing Service Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Edge Computing Service Industry growth. Edge Computing Service market has been segmented with the help of its Component, End-User , and others. Edge Computing Service market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, Hardware held the major market share over the forecast period primarily fuelled by the increasing number of connected devices and the IoT trend. This demand for accurate, timely real-time decision-making is boosting the growth of the data centre segment. Durable hardware, small, has sufficient storage, offers a range of connectivity options, and fulfils its purpose is being chosen. The military and defence industry are particularly in need of reliable and efficient hardware, impacting the growth of this category.
Edge Services are the fastest-growing category over the forecast period. As a bridge connecting internal and external networks, edge computing services are growing in popularity within the network. Usually controlled by businesses, these servers are connected to other devices via a private network. Multi-access Edge Computing (MEC) server architecture is being developed by telecoms as they advance in information process technologies. These services efficiently manage large amounts of traffic with minimal latency by filtering out undesirable access requests. The market for edge routers, which are necessary for effective network management, is expanding because to the increasing number of centres that are becoming available across a range of industries.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Edge Computing Service Industry. Request a Free Sample PDF!
According to Cognitive Market Research, Energy & Utilities segment holds a prominent market share as revenue growth in the energy and utilities market is anticipated to be aided by smart grids, which rely on device edge infrastructure. Worldwide attempts to increase the efficiency of electrical utility services, including the development of alternative renewable power sources like solar and wind, are being driven by environmental sustainability programmes. Around the world, smart grids are being implemented to facilitate capabilities and improve operating efficiencies. These include microgrids that support generation from distributed renewable sources, real-time consumption control, and integration with smart appliances.
Healthcare Industry sector is the fastest-growing segment over the forecast period, fuelled by the digital transformation of the industry, adopting edge computing strategies to improve patient record management, continuous monitoring, remote patient care, and intervention. The IoT and edge computing have enabled disruptive technology improvements, transforming the industry by enabling medical professionals to treat patients faster and more efficiently. The adoption of edge computing solutions across main use cases, such as patient record management, continuous monitoring, remote patient care, and intervention, is expected to experience robust growth in the coming future.
The above Graph is for representation purposes only. This chart does not depict actual Market share.
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Research associate at Cognitive Market Research
Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.
Swasti an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.
In her current role, Swasti manages research for service and software category, leading initiatives to uncover market opportunities and enhance competitive positioning. Her strong analytical skills and ability to provide clear, impactful findings have been crucial to her team’s success. With an expertise in market research analysis, She is adept at dissecting complex problems, extracting meaningful insights, and translating them into actionable recommendations, Swasti remains an invaluable asset in the dynamic landscape of market research.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Edge Computing Service Market is witnessing significant growth in the near future.
In 2023, the Hardware segment accounted for noticeable share of global Edge Computing Service Market and is projected to experience significant growth in the near future.
The Financial & Banking Industry segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Cisco, Huawei and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Component | Hardware, Software, Services |
End-User | Financial & Banking Industry, Retail, Healthcare & Life Sciences, Industrial, Energy & Utilities, Telecommunications, Others |
List of Competitors | Cisco, HPE, Huawei, IBM, Dell Technologies, Nokia, Litmus Automation, FogHorn Systems, SixSq, MachineShop, Saguna Networks, Vapor IO, ADLINK, Altran, Axellio |
This chapter will help you gain GLOBAL Market Analysis of Edge Computing Service. Further deep in this chapter, you will be able to review Global Edge Computing Service Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Component Analysis 2019 -2031, will provide market size split by Component. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Component Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by End-User Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Edge Computing Service market
Chapter 12 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Hardware have a significant impact on Edge Computing Service market? |
What are the key factors affecting the Hardware and Software of Edge Computing Service Market? |
What is the CAGR/Growth Rate of Financial & Banking Industry during the forecast period? |
By type, which segment accounted for largest share of the global Edge Computing Service Market? |
Which region is expected to dominate the global Edge Computing Service Market within the forecast period? |
Segmentation Level Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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