Edge Computing Market Size By Component (Hardware [Nodes, Sensors], Software, Service [Training and Education, Support & Maintenance]), By Application (Industrial IoT, Remote Monitoring, Content Delivery, AR/VR), By Enterprise Size (SMEs, Large Enterprise

Edge Computing Market Size By Component (Hardware [Nodes, Sensors], Software, Service [Training and Education, Support & Maintenance]), By Application (Industrial IoT, Remote Monitoring, Content Delivery, AR/VR), By Enterprise Size (SMEs, Large Enterprises), By Industry Vertical (IT & Telecom, BFSI, Retail, Government, Utility, Manufacturing, Healthcare), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2030

The edge computing market is slated to expand significantly by the end of 2030 owing to the huge computing demand for cloud users. In addition, massive data explosion through IoT networks is likely to further propel industry growth over the forecast timeframe.

During the COVID-19 pandemic, the industry gained massive popularity due to a gradual shift towards cloud saving to ensure seamless business operations in light of the prevalent trend of remote working. This had prompted key players in the industry to focus on expanding their product portfolios through effective innovations to improve their business presence, thereby fostering product outlook. For instance, in May 2022, Cisco, a leading cloud solutions provider, released its Cloud Control Framework (CCF) to make security certification more accessible.

The edge computing market has been bifurcated based on application, enterprise size, component, industry vertical, and region. In terms of component, the market has been split into hardware, software, and service. The hardware segment has been subdivided into sensors, nodes, and others.



In 2021, the nodes segment accounted for around 45% market share due to the growing demand for high-computing powered hardware to manage the huge network data traffic. The sensors segment held over 30% market share in 2021 as a result of the rising trend of loading and unloading factory floor data directly from the digital cloud.

Meanwhile, the service component segment has been segregated into training & education and support & maintenance. The training & education segment is foreseen to register significant growth at a CAGR of over 30% through the review period attributed to the growing demand for effective implementation of edge services.

With regards to application, the edge computing market is segregated into remote monitoring, AR/VR, industrial IoT, content delivery, and others. The content delivery segment is set to expand at a CAGR of above 25% over the study timeline due to the growing demand for fast streaming and high-quality content delivery.

From the industry vertical perspective, the market has been divided into healthcare, BFSI, manufacturing, retail, IT & telecom, utility, government, and others. The IT & telecom industry held over 15% market share in 2021 as a result of the growing bring your own device (BYOD) trend across IT & telecom companies. In 2021, the manufacturing sector garnered approximately 25% industry share due to a positive outlook regarding the adoption of Industrial IoT across the manufacturing sector.

The edge computing industry share from the retail segment is estimated to expand at a CAGR of above 30% through 2030 owing to the mounting adoption of cloud computing services across the retail sector. Additionally, the government sector is projected to observe steady growth at over 25% CAGR in the forthcoming years due to growing digitalization across government organizations.

In the regional landscape, the Latin America edge computing industry is forecast to grow at roughly 25% CAGR up to 2030 due to the soaring presence of cloud data centers across the LATAM region. Similarly, the edge computing market in Middle East & Africa is primed to expand at a CAGR of above 25% over the analysis timespan driven by supportive government initiatives for digitalization in the MEA region.