5G Edge Computing Market Size, Share & Trends Analysis Report By Solution (Hardware, Software, Services), By End-use (IT & Telecom, Smart Cities, Smart Homes, & Smart Buildings, Datacenters), By Region, And Segment Forecasts, 2023 - 2030

5G Edge Computing Market Size, Share & Trends Analysis Report By Solution (Hardware, Software, Services), By End-use (IT & Telecom, Smart Cities, Smart Homes, & Smart Buildings, Datacenters), By Region, And Segment Forecasts, 2023 - 2030

5G Edge Computing Market Growth & Trends

The global 5G edge computing market size is expected to reach USD 51.44 billion by 2030, growing at a compound annual growth rate (CAGR) of 49.8% from 2023 to 2030, according to a new study by Grand View Research, Inc. The key feature of edge computing architecture is bringing backend functions closer to the user network. This is expected to play a crucial role in reducing real-time latency and enhancing security by minimizing the amount of data transmitted and processed in the cloud to meet and exceed consumer expectations, which is expected to boost the expansion of the market further over the forecast period.

Technology is observing increased adoption across industries such as automotive, IT, telecom, and data center. The retail sector is also projected to experience substantial disruption due to the integration of multi-access edge computing (MEC) technology with 5G connectivity. The use of MEC technology is projected to minimize data processing time and increase the effectiveness of in-store systems, allowing for better resolution of consumer complaints. Additionally, the implementation of this technology is intended to reduce the burden of external mega sites, providing users with a more seamless in-store experience. 5G edge computing integration in network systems reduces the total cost of ownership and creates quick returns on investment compared to legacy systems, which could encourage smaller retail chains to adopt 5G edge computing technology.

The rise in the adoption of artificial intelligence and machine learning technologies and their incorporation in edge hardware and software solutions are compelling the market leaders to launch new products, catering to everchanging demands from different industry verticals. For instance, in June 2023, T-Mobile, a mobile telecommunication company, partnered with Google Cloud to integrate their 5G connectivity and edge computing technologies. This collaboration has resulted in a powerful solution that empowers users across industries like manufacturing, retail, and logistics to harness the benefits of edge computing and 5G as they undergo digital transformation. Such development by key players is expected to drive the 5G edge computing industry growth over the forecast period.

5G Edge Computing Market Report Highlights

• In terms of solution, the software segment accounted for the highest revenue share of more than 47% of the global market in 2022. Virtualization software enables operators to deploy and manage virtualized network functions (VNF), which is driving the segment growth
• Based on end-use, the IT & Telecom segment dominated the market in 2022 with revenue share exceeding 21%, while the Energy & Utilities category is anticipated to grow at the fastest CAGR of more than 55% over the forecast period
• The Asia Pacific regional market is likely to grow at a CAGR of more than 56% over the forecast period. Companies in the region are offering the combined functionality of cloud computing and edge computing solutions to extend 5G edge computing architecture for commercial services

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