Global Edge Computing Market to Reach $15.2 Billion by 2026

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Jul 01, 2021, 10:10 ET

SAN FRANCISCO, July 1, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Edge Computing - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 6; Released: May 2021
Executive Engagements: 89948
Companies: 287 - Players covered include ABB Ltd.; ADLINK Technology Inc.; Altran Technologies, SA; Amazon Web Services (AWS), Inc.; Atos SE; Axellio; Azion Technologies Ltd.; Belden Inc.; Cisco Systems, Inc.; ClearBlade, Inc.; Dell Inc.; Digi International Inc.; Edge Intelligence Software, Inc.; EdgeConneX, Inc.; EdgeIQ; Edgeworx, Inc.; Foghorn Systems; General Electric Company; Google LLC; Hewlett Packard Enterprise Development LP; Huawei Technologies Co., Ltd.; International Business Machines Corporation; Intel Corporation; Juniper Networks Inc.; Litmus Automation Inc.; Microsoft Corporation; Moxa Inc.; Nokia Corporation; Rockwell Automation Inc.; Saguna Networks Ltd.; SAP SE; Siemens AG; Sierra Wireless, Inc.; SixSq Sarl and Others.
Coverage: All major geographies and key segments
Segments: Component (Hardware, Platform, Other Components); Application (Smart Cities, Industrial Internet of Things (IIoT), Remote Monitoring, Content Delivery, Other Applications); Vertical (Manufacturing, Retail, Transportation & Logistics, IT & Telecom, Government & Defense, Energy & Utilities, Other Verticals)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Rest of World.

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ABSTRACT-

Global Edge Computing Market to Reach $15.2 Billion by 2026
Edge computing is rapidly emerging as a technology innovation that can be widely adopted across industries. Some of key benefits of using intelligent edge include capability for quick decision making and low latency. IoT, IIoT and increased adoption of technologies like AI and ML have been supporting strong growth in the global market. The growing number of smart city initiatives in countries across the world also promotes market growth. 5G cellular technologies, delivering massive bandwidths along with supporting a wide array of devices including smartphones, autonomous vehicles as well as large scale IoT, represents another prominent growth promoting factor for the market. Increased adoption of edge computing for data center application would also lead to market growth. The adoption is expected to result in deployment of micro data centers closer to existing infrastructure. This would help in addressing issues concerning latency.

Amid the COVID-19 crisis, the global market for Edge Computing estimated at US$3.4 Billion in the year 2020, is projected to reach a revised size of US$15.2 Billion by 2026, growing at a CAGR of 27.7% over the analysis period. Hardware, one of the segments analyzed in the report, is projected to record a 26.6% CAGR and reach US$8.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Platform segment is readjusted to a revised 29.9% CAGR for the next 7-year period. Hardware represents the largest component segment, attributed to large-scale deployment of hardware components in edge computing services.

The U.S. Market is Estimated at $1.6 Billion in 2021, While China is Forecast to Reach $2.1 Billion by 2026
The Edge Computing market in the U.S. is estimated at US$1.6 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.1 Billion by the year 2026 trailing a CAGR of 36.3% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 24.2% and 28.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 24.7% CAGR. North America dominates the global market, owing to the rising technology acceptance and adequate presence of large market players and startup firms in developed countries, such as the US. In Asia-Pacific, the market growth would be primarily driven by the digital boom in countries, such as China, South Korea, Japan, Singapore, India, and Indonesia.

By Application, Smart Cities Segment to Reach $6.1 Billion by 2026
The need to effectively manage and analyze data streams from heterogeneous sources such as smart meters, GPS devices, video cameras and a range of other sensors and to gain actionable intelligence from the same is driving significance of Edge solutions to improve emergency preparedness, and provide greater situational awareness. In the global Smart Cities (Application) segment, USA, Canada, Japan, China and Europe will drive the 28.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1 Billion in the year 2020 will reach a projected size of US$5.7 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$529.6 Million by the year 2026. More

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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

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Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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SOURCE Global Industry Analysts, Inc.