At 20.6% CAGR, the Europe Edge Computing Market is projected to be worth US$ 37,651.59 Million by 2028, says The Business Market Insights

According to the Business Market Insights’ research, the Europe edge computing market was valued at US$ 12,221.47 million in 2022 and is expected to reach US$ 37,651.59 million by 2028, registering a CAGR of 20.6% from 2022 to 2028. Increase in adoption of IOT across industries and extremely low latency and high availability of bandwidth are the critical factors attributed to the Europe edge computing market expansion. 

Edge computing works with a highly distributed network which eliminates the round trip to the cloud, reducing latency and offers real-time responsiveness. Acceleration in data transmission has become an important business goal. Many applications require low latency to improve the user experience and support customer satisfaction by helping applications run faster and smoothly. Such applications include online meetings and mission-critical computation applications hosted on the cloud. Improving latency may be a matter of making small improvements and compiling time savings in various application such as healthcare, air traffic control, combat situation and among other applications, which provides meaningful improvements in network performance. Low latency provides a reliable and robust connection, reducing connection loss, delay, lags, and buffers. It is critical for many businesses and industries that rely on real-time applications or live streaming, including banking, diagnostic imaging, navigation, stock trading, weather forecasting, collaboration, research, ticket sales, video broadcasting, and online gaming. Thus, low latency improves the operation speed at the edge, enabling the demand for edge computing.

Bandwidth is the amount of data that a network can carry over time. All networks have limited bandwidth, and wireless communication limits are severe. It is possible to increase network bandwidth to accommodate a large number of devices and data. Edge computing distributes data computation through the use of on-premise smart devices. It makes the data processing efficient by reducing bandwidth and improving response times. Thus, the less consumption of bandwidth can lead to reduced data transmission costs. Hence, extremely low latency and high bandwidth availability increase the adoption of edge computing over various applications, bolstering the edge computing market growth.

On the contrary, rising risks and concerns related to data privacy hurdles the growth of Europe edge computing market.

Based on component, the Europe edge computing market is segmented into hardware, software, and services. The hardware segment held 48.5% share Europe edge computing market in 2022, amassing US$ 5,922.79 million. It is projected to garner US$ 16,743.18 million by 2028 to expand at 18.9% CAGR during 2022–2028.

Based on organization Size, the Europe edge computing market is segmented into SMEs and large enterprises. The large enterprises segment held 63.5% share of Europe edge computing market in 2022, amassing US$ 7,761.69 million. It is projected to garner US$ 22,993.63 million by 2028 to expand at 19.8% CAGR during 2022–2028.  

Based on application, the Europe edge computing market is segmented into smart cities, industrial internet of things (IIOT), remote monitoring, content delivery, augmented reality and virtual reality, and others. The smart cities segment held 27.0% share of Europe edge computing market in 2022, amassing US$ 3,295.10 million. It is projected to garner US$ 11,003.31 million by 2028 to expand at 22.3% CAGR during 2022–2028. 

Based on verticals, the Europe edge computing market is segmented into manufacturing, energy and utilities, government, IT and telecom, retail and consumer goods, transportation and logistics, healthcare, and others. The IT and telecom segment held 22.7% share of Europe edge computing market in 2022, amassing US$ 2,778.85 million. It is projected to garner US$ 8,226.02 million by 2028 to expand at 19.8% CAGR during 2022–2028. 

Based on country, the Europe edge computing market has been categorized into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that the UK captured 30.5% share of Europe edge computing market in 2022. It was assessed at US$ 3,730.81 million in 2022 and is likely to hit US$ 12,402.43 million by 2028, exhibiting a CAGR of 22.2% during 2022-2028.      

Key players operating in the Europe edge computing market are ADLINK Technology Inc; Amazon Web Services; Dell Technologies; EdgeConnex Inc.; Hewlett Packard Enterprise Development LP (HPE); IBM Corporation; and Microsoft Corporation; among others.   

• In 2022, Maxis one of Malaysia’s largest telecoms providers, has collaborated up with Hewlett Packard Enterprise (HPE) to build the country’s first multi-access edge computing (MEC) solution for enterprises.  

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