Edge Computing Market worth over US$ 894 Billion by 2036
According to a recent study published by Research Nester, the Edge Computing Market size is expected to cross USD 894 Billion by 2036 and is projected to expand at a CAGR of 39.65% from 2024 to 2036. The rising partnership and collaboration among the key players are to augment the market growth.
Surging Adoption of Edge Computing in the Healthcare Sector to Boost the Market Growth of Edge Computing
It is expected that edge computing will contribute to global connection in healthcare. Through mobile apps or portals, edge computing decentralizes analytics and locates storage, monitoring, and patient diagnosis. Through the use of a smartphone app or portal, modern technology can be utilized to track patients’ health in real-time. It increases operational effectiveness and boosts client happiness. It guarantees personalized record management and provides patients with essential healthcare advice. In this regard, cloud computing is being used by the UAE to track patient data and healthcare records. The MEA region is more likely to experience chronic illness. This region has the highest rate of diabetes prevalence, according to the International Diabetes Foundation. 39 million people have received a diagnosis, while 19 million people are believed to be undiagnosed.
The global edge computing market is anticipated to grow with a CAGR of 39.65% over the forecast period, i.e., 2024–2036. The market is estimated to garner a revenue of USD 893.93 billion by the end of 2036. Additionally, in the year 2021, the market registered a revenue of USD 11.78 billion. The market is segmented by technology into component, industry vertical, application, and organization size. The hardware segment from component segmentation, amongst all the other segments, is anticipated to garner the largest revenue of USD 430.83 billion by the end of 2036. Additionally, the segment registered a revenue of USD 5.7 billion in the year 2023.
QoE can supply quality to clients and QoS can capture quality given by edge nodes. Selecting edge computing that avoids overtaxing nodes with computationally demanding workloads is the difficult part. Even if the nodes have to handle extra demand from the data center or edge service, they still need to have high throughput and be dependable in order to deliver the desired workload.
By region, the global edge computing market is segmented into five major regions including North America, Europe, Asia Pacific Excluding Japan, Japan, Latin America, and the Middle East & Africa region, out of which, the market in North America region is anticipated to garner the largest revenue of USD 389.40 Billion by the end of 2036.
Additionally, the market in the region registered a revenue of USD 4.9 Billion in the year 2023. One of the most innovative technological developments in the area is the idea of a smart city. North America would use edge computing more frequently as the idea of smart cities took off there to solve latency and bandwidth issues. It would facilitate the residents’ easy acclimatization to the smart city infrastructure.
Top players included in the global edge computing market are Cisco System Inc., Nokia Firm, Huawei Cloud Computing Technologies Co., Ltd., Dell Inc., Hewlett Packard Enterprise Development LP, SixSq SA, Capgemini, and others.
Source — https://www.researchnester.com/reports/global-edge-computing-market/1945
About the Author
Aashi Mishra is currently working as a content developer with the Research Nester. An electronics engineer by profession, she loves to simplify complex market aspects into comprehensive information. She has experience of 3 years in this domain where she has mastered in tech writing, editing, copywriting, etc.
