The global edge computing market is expected to increase in value almost sixfold from 2020 to 2027, growing from £2.4 billion to £13.6 billion in market size.
The findings, which come from ReportLinker and its new ‘Global Edge Computing Market’ study, project a compound annual growth rate (CAGR) of 27.7% for the global edge industry over the seven-year period.
Hardware, one of the segments analysed in the report, is projected to grow at a 26.6% CAGR to reach £6.6bn by the end of the period. Meanwhile, growth in the platform segment is estimated at a revised 29.9% CAGR after accounting for the business implications of the pandemic.
The US currently accounts for more than a third of the edge computing market’s size globally with a 36% market share at £900m.
China, the world’s second largest economy, is forecast to reach an estimated market size of £2bn in 2027, trailing a CAGR of 36.3% across the period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 24.2% and 28.1% respectively from 2020 to 2027.
Within Europe, Germany is forecast to grow at approximately 24.7% CAGR while the rest of Europe will reach £2bn to match China by 2027.
In the global ‘Other Components’ segment, USA, Canada, Japan, China and Europe will drive the 27.5% CAGR estimated for this sector.
These regional markets, accounting for a combined market size £591m in 2020, will reach a projected size of £3.3bn 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 £1.3bn by 2027.
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