Edge Computing Market Revenues to Reach USD 58.60 billion by 2028 - Market Size, Share, Forecasts, & Trends Analysis Report by Mordor Intelligence

Hyderabad, July 10, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Edge Computing Market Report (2023-2028)," the market is estimated at USD 9.17 billion in 2023. It is expected to register a CAGR of 44.90% during the forecast period.

Edge computing means a distributed computing paradigm. This specific paradigm is used to bring data storage and computing together to create a boost in response time. Computing tools around the world are gaining popularity as they are used in different industries for increased productivity and performance.

Report Summary:

Who are the Top Companies in the Edge Computing Market?

The edge computing market is highly competitive and fragmented in nature. Presently, the market is populated and dominated by cloud-based IoT vendors like Microsoft, Dell, Google, and Amazon. The vendors’ primary competitive strategies include product/service rollouts and partnerships with industry players.

The most notable players in the global logistics automation market are:

• Microsoft Corporation
• Google LLC (Alphabet Inc.)
• IBM Corporation
• Huawei Technologies Co. Limited
• Cisco Systems Inc.
• Hewlett Packard Enterprise Company
• Juniper Networks Inc.
• Dell Technologies Inc.
• Capgemini Engineering (Capgemini)
• EdgeIQ (MachineShop Inc.)
• ADLINK Technology Inc.
• General Electric Company
• Amazon Web Services Inc.

Other Reports That Might Be of Your Interest:

• Serverless Computing Market Report - The serverless computing market is estimated to register a CAGR of 23.17% during the forecast period (2023-2028).
• Cloud Computing Market Report - The cloud computing market size is estimated at USD 581.91 billion in 2023. It is expected to reach USD 1,243.42 billion by 2028, registering a CAGR of 16.40% during the forecast period (2023-2028).

Key Highlights from the Edge Computing Market Report:

The Telecommunication Sector is Predicted to Grow an Impressive CAGR

• The telecommunications industry is currently in the process of revamping its infrastructure in order to prepare for a smooth 5G transition.
• Edge computing is guaranteed to entirely revamp the telecom networks with the help of 5G and IoT. The huge growth potential of the IoT, reliance on the Internet, and dependence on the cloud are some of the factors pushing telecoms towards edge computing.

Asia-Pacific is Predicted to Grow at the Highest CAGR

• China has had a strong start as far as the adoption of 5G and the edge is concerned. China can also evolve the application of computing technology soon by embracing and incorporating the surveillance culture.
• As per a survey done by GSMA, around 90% of players in the mobile ecosystem consider edge computing as a profitable revenue-generating opportunity in the 5G era.

What are the Latest Developments in the Edge Computing Market?

• In July 2022, Lumen Technologies announced the expansion of its edge computing solutions to Europe. It also made the announcement of investing in its global edge network and, in the process giving businesses a low-latency platform to extend their data-intensive and high-bandwidth applications to the cloud edge.
• In March 2022, AUO and ADLINK Technology Inc. made the announcement that they would be hosting their first joint technology forum for the EMEA region. The forum was going to be virtual in nature.

Mordor Intelligence has Segmented the Edge Computing Market Based on Component, End User, and Geography:

• By Component (Market Size and Forecast based on Value (USD billion), 2018-2028)
  • Hardware
  • Software
  • Services
• By End user (Market Size and Forecast based on Value (USD billion), 2018-2028)
  • Financial and Banking Industry
  • Retail
  • Healthcare and Life Sciences
  • Industrial
  • Energy and Utilities
  • Telecommunications
  • Other End users
• By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
  • North America
    • United States
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • Australia
    • Rest of Asia-Pacific
  • Latin America
    • Mexico
    • Brazil
    • Rest of Latin America
  • Middle East & Africa
    • United Arab Emirates
    • Saudi Arabia
    • Rest of Middle East & Africa

In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Edge Computing Market Report (2023-2028).

Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:

• Cloud High Performance Computing (HPC) Market Report - The cloud high performance computing (HPC) market size is estimated at USD 9.5 billion in 2023. It is expected to reach USD 15.5 billion by 2028, registering a CAGR of 10.29% during the forecast period (2023-2028).
• Mobile Edge Computing Market Report - The mobile edge computing market size is estimated at USD 449.86 million in 2023. It is expected to reach USD 1.84. billion by 2028, registering a CAGR of 32.58% during the forecast period (2023-2028).
• End User Computing Market Report - The end user computing market is predicted to register a CAGR of 12.60% during the forecast period (2023-2028).

About Mordor Intelligence:

Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.

Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.

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• Edge Computing Market - Mordor Intelligence