Edge computing spend in Canada to hit C$7.5bn by 2024, predicts IDC

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Total spend on edge computing in Canada will hit C$7.5 billion (£4.33bn) by 2024 at a CAGR of 12.3%, according to IDC.

The findings, which appear as part of the analyst firm’s Worldwide Edge Spending Guide, sees retail as the industry with the most spend, ahead of federal and central government and banking. Retail is predicted to see a five year CAGR of 14.7%, with six of the 19 analysed industry segments delivering more than 5% of total Canadian spending in 2020.

Services will account for almost half (46.2%) of all edge spending by the end of the forecast period. For 2020, the fastest growing categories, with spend above C$100m this year, are gateways, with an 18.4% CAGR, platform as a service (17%), software as a service (16.1%) and connectivity (14.2%).

This tallies with IDC’s overall assessment of the market. The company said global spend would hit $250bn by 2024, with the same percentage (46.2%) of spend being accounted for by services. IDC added the US and Western Europe would be the predominant geographic leaders in the space.

“Canadian organisations are beginning to understand that some of our most valuable insights are gained in real-time at the edge, where interactions take place,” said Dave Pearson, infrastructure solutions research director at IDC Canada. “Vendors across the ecosystem are addressing that need with hardware, software, and services designed to optimise that data creation, analysis, and utilisation.”

Photo by Ravi Patel on Unsplash

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