Edge Computing Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2020 to 2030 Introduction of 5G coupled with increasing requirement for decentralized data processing power is projected to drive the demand for edge computing. Shifting preference for high-performance smartphone apps is also contributing to the edge computing market’s revenue growth. The global edge computing market will multiply 13.7X from its current value during the forecast period (2020 2030). Adoption of Multi-access Edge Computing (MEC) by telecom companies will generate profitable opportunities for edge computing market leaders. As telecom companies look to enhance the performance speed of mobile applications, edge computing products will witness a steep rise in demand. Benefits of multi-access edge computing, such as reduced network congestion are primary drivers of growth. Edge Computing Market Trends Consumer demand for high-performance smartphone applications such as high-definition multiplayer online battle arena (MOBA) games are important edge computing use cases. Edge computing Internet of Things (IoT) in developing countries such as India, Indonesia, and China present lucrative opportunities for edge computing architecture. IoT enabled devices warrant the use of advanced network infrastructure, and high processing speed, both of which are core benefits of edge computing. Therefore, IoT devices along with high performance smartphone applications will strengthen the growth of the edge computing market between 2020 and 2030. Edge Computing Application Insights On the basis of application, the market is segmented between, energy & utilities, industrial, transportation & logistics, smart cities/homes/building, healthcare, agriculture, retail, datacenters and others. Among these, energy & utilities emerge as the highest revenue application with more than 18% share of the total market value. Increasing emphasis on efficient energy utilization is increasing the adoption of remote monitoring and controlling of energy grids. Edge computing examples such as Automatic meter Reading (AMR), distributed generator management, and real time analysis of electricity generation are giving tailwinds to the market. The energy & utilities segment will continue to generate revenues at an astounding 29% CAGR through 2030. Datacenter applications of edge computing aids interaction between smart devices as consumers adopt smart homes, smart cars, and smart wearables that communicate with each other to deliver seamless user experiences. The datacenter application segment will present financially rewarding opportunities with a meteoric 32.5% CAGR from 2020 to 2030. This can be attributed to the development of micro Edge Data Centers (EDC) that enables every smart device to record, store, and compute data independently of centralized data centers. Since these devices no-longer need to transmit data every time, the speed of performance increases
drastically. It is favorable factors such as these that will drive the demand from this application segment. Edge Computing Component Insights Hardware components account for a majority share of more than 46% from the total market value. Technologies such as EDC, AMR, and MEC employ edge nodes, gateways, sensors, and routers. This further increases the demand for hardware components of edge computing. The segment will grow at a stupendous ~28% CAGR through 2030. As organizations across the world leverage industry 4.0 technologies such as artificial intelligence, machine learning, and the internet of things, they require high-performance hardware components to aid precision performance. However, the highest growth can be traced to the edge computing services segment.