Hyperscale Edge Computing Market Expansion Projected to Gain an Uptick During 2022-2030
The global hyperscale edge computing market size is projected to expand considerably through 2030, due to the need for upscaling IT architectures to manage huge volumes of data. Hyperscale edge computing networks are being extensively deployed in healthcare, mining, and other industrial sectors where IoT technology is gaining momentum.
As per the Asia Cloud Computing Association Report, over 77% of organizations experienced a business surge after expanding their IT infrastructure in 2020. The growing number of IoT devices and sensors generating large data, and the adoption of IT infrastructure to manage and provide unparalleled connectivity, are likely to fuel hyperscale edge computing industry growth.
The hyperscale edge computing market is categorized in terms of component, application, enterprise size, end-user, and region.
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In terms of the component, the market is segmented into software, service, and hardware. The service segment is further sub-categorized into professional services and managed services. Of these, the professional services segment held over 35% of the industry share in 2021, owing to the strong demand for the effective implementation of edge computing solutions.
This type of service also can help companies formulate edge strategies to efficiently manage hyperscale edge infrastructure and safeguard the entire system from cyber threats.
Based on enterprise size, the hyperscale edge computing market is bifurcated into large enterprises and SMEs. The large enterprises segment is set to account for more than 76% of the industry share by 2030.
In wake of the COVID-19 pandemic, enterprises worldwide have been looking for ways to optimize their agility, storage, and network. As a result, they have rapidly shifted their crucial workload to the cloud to maintain business functioning. Since the cloud is gaining momentum, edge computing has emerged as an ideal solution, which may propel segmental growth.
With respect to application, Industrial IoT registered a market share of 33.85% in 2021. Increasing deployment of emerging technologies, such as AI and IoT, and the strong focus on manufacturing automation are some of the key factors fueling segmental expansion.
As per data from the Digital Economy, in 2021, 76% of manufacturers planned to adopt the IIoT and 5G tech to reduce processing and labor costs, further strengthening the hyperscale edge computing industry outlook.
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In terms of end-use, the government segment is poised to exhibit a CAGR of nearly 35% through 2030. The use of hyperscale edge computing solutions among government organizations is increasing since they can help them centralize and consolidate IT resources to allow users to access systems from anywhere at any time. With the rising penetration of IoT devices and the introduction of 5G networks, edge computing has become a viable solution for various use cases in government agencies.
From a regional frame of reference, the Europe hyperscale edge computing market accounted for 21.75% of the market share in 2021, owing to the demand for low-latency processing. Likewise, the rising deployment of IoT-related services, automation of decision-making solutions, and the growing load on cloud infrastructure may stimulate regional industry demand over the forecast period.
Table of Contents (ToC) of the report:
Chapter 1 Methodology & Scope
1.1 Scope & definition
1.2 Methodology & forecast parameters
1.3 COVID-19 impact parameters
1.3.1 North America
1.3.2 Europe
1.3.3 Asia Pacific
1.3.4 Latin America
1.3.5 MEA
1.4 Regional trends
1.5 Russia Ukraine war impact paramaters
1.6 Data Sources
1.6.1 Secondary
1.6.2 Primary
1.6.2.1 Primary interview questions
1.6.2.2 Profile break-up of primary respondents
1.7 Industry glossary
Chapter 2 Executive Summary
2.1 Hyperscale edge computing market 3600 synopsis, 2018-2030
2.2 Business trends
2.2.1 Total addressable market (TAM) trends, 2022 - 2030
2.3 Regional trends
2.4 Component trends
2.5 Application trends
2.6 Enterprise size trends
2.7 End-user trends
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