Edge Computing Market Size, Share, Growth, Trends, and Global Industry Analysis: By Component (Hardware, Platform, and Service), By Application (Smart Cities, Industrial Internet of Things [IoT], Remote monitoring, Content Delivery, Augmented Reality [AR] and Virtual Reality [VR], and others), By Organization Size (Small, Medium and Large Sized Enterprise), By Verticals (Manufacturing, Energy & Utility, Government & Defense, Telecommunications, Media & Entertainment, Retail & Consumer Goods, Transportation & Logistics, Healthcare & Life Science, and others), and Region Forecast 2020-2031

Edge Computing Market size was valued at US$ 22.5 billion in 2024 and is expected to reach US$ 203.0 billion by 2031, growing at a significant CAGR of 36.9% from 2025-2031. Factors such as growing industry-wide acceptance of the Internet of Things (IoT), growing demand for low-latency processing and real-time, automated decision-making solutions; and the need to address growing data volumes and network traffic exponentially.

In addition, it is anticipated that the advent of autonomous vehicles and connected car networks and the need for lightweight frameworks and systems to increase the efficacy of edge computing solutions would create ample opportunities for vendors of edge computing. While in many applications, edge computing is used, the high initial costs and maintenance costs act as the impeding factor for the market. In addition, edge computing forces organizations to deal with the same network security models and physical security criteria for more remote servers where safety footprints and traffic patterns are open to all, thus hindering and challenging the security of the database.  

Key Developments

• In March 2020, Google Cloud and AT&T announced a collaboration to help enterprises take advantage of Google Cloud's technologies and capabilities using AT&T network connectivity at the edge, including 5G.
• In March 2020, Microsoft announced the acquisition of Affirmed Networks, which is a startup that offers fully virtualized cloud-native mobile network solutions.