At 23.3% CAGR, the Asia Pacific Edge Computing Market is projected to be worth US$ 33,424.04 Million by 2028, says The Business Market Insights

According to the Business Market Insights’ research, the Asia Pacific edge computing market was valued at US$ 9,515.27 million in 2022 and is expected to reach US$ 33,424.04 million by 2028, registering a CAGR of 23.3% 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 Asia Pacific edge computing market expansion.

The introduction of autonomous cars is on the verge of undergoing extensive research because the autonomous system ensures passenger safety and security. Autonomous vehicles can connect to the edge to improve safety, enhance efficiency, reduce accidents, and decrease traffic congestion. These autonomous cars are equipped with a variety of sensors, and the large amount of data created by these sensors needs to be processed quickly. Machine learning (ML) algorithms used in self-driving cars extract insights from raw data to determine road conditions and make decisions based on them. The growing integration of V2X (Vehicle-To-Everything) technology in the autonomous vehicles would offer potential opportunities for the market growth in the coming years. The automotive vehicles having an interactive advanced driver-assistance system (ADASs) and cooperative intelligent transport systems (C-ITS) are associated as connected cars. The connected-vehicle safety applications are designed to increase situation awareness and mitigate traffic accidents through vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communications. The V2X technology accelerates the huge computing demand on autonomous driving edge computing systems. The technology focuses mainly on vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) goals. The significant increase in deployment of edge computing facilities in road infrastructure, many autonomous driving applications have started leveraging V2X communications to make the in-vehicle edge computing system efficient which is driving the market growth. A few benefits of edge computing in the autonomous vehicles include optimized data, faster 5G response times, infrastructure security, and localized data caching. Thus, edge computing is most widely adopted in these vehicles, which is expected to provide potential opportunity for the market growth during the forecast period.

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

Based on component, the Asia Pacific edge computing market is segmented into hardware, software, and services. The Hardware segment held 48.1% share Asia Pacific edge computing market in 2022, amassing US$ 4,576.57 million. It is projected to garner US$ 14,867.94 million by 2028 to expand at 21.7% CAGR during 2022–2028.

Based on organization Size, the Asia Pacific edge computing market is segmented into SMEs and large enterprises. The large enterprises segment held 63.6% share of Asia Pacific edge computing market in 2022, amassing US$ 6,056.46 million. It is projected to garner US$ 20,469.05 million by 2028 to expand at 22.5% CAGR during 2022–2028.  

Based on application, the Asia Pacific 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 30.8% share of Asia Pacific edge computing market in 2022, amassing US$ 2,930.62 million. It is projected to garner US$ 11,011.43 million by 2028 to expand at 24.7% CAGR during 2022–2028.

Based on verticals, the Asia Pacific 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 23.3% share of Asia Pacific edge computing market in 2022, amassing US$ 2,217.02 million. It is projected to garner US$ 7,239.15 million by 2028 to expand at 21.8 % CAGR during 2022–2028. 

Based on country, the Asia Pacific edge computing market has been categorized into China, Japan, India, Australia, South Korea and the Rest of Asia Pacific.  Our regional analysis states that China captured 31.7% share of Asia Pacific edge computing market in 2022. It was assessed at US$ 3,012.53 million in 2022 and is likely to hit US$ 10,889.55 million by 2028, exhibiting a CAGR of 23.9% during 2022-2028.      

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

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