At 21.8% CAGR, the North America Edge Computing Market is projected to be worth US$ 52,976.45 Million by 2028, says The Business Market Insights

According to the Business Market Insights’ research, the North America edge computing market was valued at US$ 16,212.71 million in 2022 and is expected to reach US$ 52,976.45 million by 2028, registering a CAGR of 21.8% 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 North America edge computing market expansion.

The advent of IoT has enabled more than millions of devices to be connected over the internet. The proliferation of IoT has led to a significant surge in data, due to which industries increasingly rely on centralized cloud computing and storage solutions. Edge computing is on the location where data is collected or used, allowing IoT data to be gathered and processed at the edge rather than sending the data back to a datacenter or cloud. This exponential growth in data traffic over the internet is attributed to the growing penetration of smartphones and other consumer electronic devices that can be connected over the internet due to the growing popularity of IoT. A few advantages of edge computing, including efficient data management, low connectivity costs, and better security practices, accelerate its usage across industries such as automotive, agriculture, oil & gas, healthcare and among other industries.

Strong internet infrastructural deployments in the advanced countries coupled with the rolling out of advanced infrastructures, such as 5G and fiber optic cables, enable the establishment of new use cases, such as Fixed Wireless Access, Massive IoT, and Critical IoT. Such advancements in internet technology are driving individuals and businesses to harness the best out of the presented opportunity and maximize the revenue generation streams. Additionally, the government initiatives toward the digitalization of economies are leading to the exponential growth of data traffic over the internet in various countries and also on a North America scale for other developing economies.

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

Based on component, the North America edge computing market is segmented into hardware, software, and services. The hardware segment held 47.5 % share North America edge computing market in 2022, amassing US$ 7,700.97 million. It is projected to garner US$ 23,503.93 million by 2028 to expand at 20.4% CAGR during 2022–2028.

Based on organization Size, the North America edge computing market is segmented into SMEs and large enterprises. The large enterprises segment held 63.6% share of North America edge computing market in 2022, amassing US$ 10,315.38 million. It is projected to garner US$ 32,424.83 million by 2028 to expand at 21.0% CAGR during 2022–2028.  

Based on application, the North America 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 29.8% share of North America edge computing market in 2022, amassing US$ 4,835.03 million. It is projected to garner US$ 17,364.28 million by 2028 to expand at 23.7% CAGR during 2022–2028. 

Based on verticals, the North America 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 23.1% share of North America edge computing market in 2022, amassing US$ 3,743.87 million. It is projected to garner US$ 11,646.28 million by 2028 to expand at 20.8% CAGR during 2022–2028. 

Based on country, the North America edge computing market has been categorized into the US, Canada, and Mexico.  Our regional analysis states that US captured 78.3% share of North America edge computing market in 2022. It was assessed at US$ 12,691.31 million in 2022 and is likely to hit US$ 42,063.30 million by 2028, exhibiting a CAGR of 22.1% during 2022-2028.      

Key players operating in the North America edge computing market are ADLINK Technology Inc; Amazon Web Services; Dell Technologies; EdgeConnex Inc.; FogHorn Systems; IBM Corporation; Litmus Automation, Inc; Microsoft Corporation; Hewlett Packard Enterprise Development LP (HPE); and Vapor IO, Inc; 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.  
• In 2022, Amazon Web Services (AWS) and VMware have collaborated to offer 5G and edge computing solutions in the United States.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com