Healthcare Edge Computing Market Share

Healthcare Edge Computing Market Overview

The Healthcare Edge Computing Market is expected to account for USD 2.35 Billion in 2022 and is expected to surpass USD 11.47 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 19.3% during the forecast period (2022-2032). Reduced latency, edge processing that doesn't require data transfers, more computing power, and improved security are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Healthcare Edge Computing Market Trends

Rise in the industry's delivery of emergency medical services is driving the market growth

The pandemic has been unprecedented in a number of ways. Time was of the essence to fight the pandemic and build new facilities, set up a safe way of mass screening, and get the vaccine on the market. The delivery of essential tech solutions for the sector can be sped up by using cloud computing. In order to deliver safe and affordable testing in the Netherlands and Belgium, Spoedtestcorona, a network of testing centers offering Covid-19 fast diagnostic tests, encountered a challenge when trying to quickly construct a cross-platform web application. The program was designed to minimize in-person interaction while securing testing for patients and medical professionals. They were able to run the app in the record-breaking two weeks by choosing Amazon Web Application services, which allowed them to satisfy the strict regulatory standards associated with storing personal and medical data.

Data is growing rapidly as a result of increased digitization. By the end of 2019 compared to 2015, data growth was 350% higher, according to the United Nations Economic Commission for Europe. Higher network capacity is needed due to the data traffic's exponential growth. Additionally, it may cause catastrophic network failure and congestion. Cisco estimates that between 2016 and 2021, traffic to cloud data centers increased at a CAGR of 27%. However, by bringing data processing and analysis closer to the source, businesses may easily overcome such problems thanks to Healthcare Edge Computing's advantages of low latency, high bandwidth, and low power. Local Healthcare Edge Computing centers isolate only the crucial and mission-critical data and transfer it to the central data center or cloud, as opposed to moving all the data straight to the centralized storage. Local edge centers, however, also offload labor by generating and transmitting daily reports about the data that needs to be stored for a while. As a result, less data must travel via the network, which lessens network bottlenecks. Thus, driving the Healthcare Edge Computing market revenue.

Healthcare Edge Computing Market Segment Insights

Healthcare Edge Computing Component Insights

The Healthcare Edge Computing Market segmentation, based on component, includes hardware, software, and services. Hardware segment dominated the global market in 2022. Devices that use healthcare edge computing are created with a specific job in mind and come with the apps needed to complete that task. For instance, sensors are used to track the temperature of machines. In this instance, the sensor communicates the machine's temperature data to the data center after collecting it from the sensor. There aren't many Healthcare Edge Computing devices that serve as a gateway for data collection, analysis, and control. Other edge devices, on the other hand, serve as computational nodes and are able to carry out intricate calculations and analyses on data that they have created on their own. Large-scale facilities called local data centers are run and owned by service providers. In order to facilitate load balancing, data storage, and efficient resource allocation, these data centers are situated close enough to the edge devices.

Healthcare Edge Computing Application Insights

The Healthcare Edge Computing Market segmentation, based on application, includes smart cities, industrial internet of things (IoT), remote monitoring, content delivery, augmented reality (AR), virtual reality (VR), and others. Content delivery segment dominated the Healthcare Edge Computing Market in 2022. Content delivery networks (CDNs) and multi-CDN designs are given new life by the adoption rates of the cloud, everything video, Internet of Things, and healthcare edge computing. A content delivery network is a collection of servers that are spread out geographically and speeds up the delivery of web content near the user network. An edge application known as a CDN is used to handle severe workloads and uphold Quality of Experience (QoE).

Healthcare Edge Computing Organization Size Insights

The Healthcare Edge Computing Market segmentation, based on organization size, includes large enterprises and SMEs. SMEs segment dominated the Healthcare Edge Computing Market in 2022. SMEs are defined as businesses with between 1 and 1,000 employees. According to a report by the VOLTA data center, 38% of small firms and 60% of major enterprises respectively use Healthcare Edge Computing technologies. Leading businesses have released affordable Healthcare Edge Computing solutions to automate data analysis with benefits of quick adoption and cheaper infrastructure costs, including AWS and TIBCO. The market for healthcare edge computing may experience rapid growth among SMEs in the future due to growing knowledge of its benefits.

Figure 1: Healthcare Edge Computing Market, by Organization Size, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Healthcare Edge Computing Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Healthcare Edge Computing Market dominated this market in 2022 (45.80%). In the anticipated time, North America is expected to hold the greatest market share. Patients that receive the most encouragement from their healthcare professional visit the patient portal more frequently than those who receive the least encouragement. Patients can access their personal health information quickly and around-the-clock from any location with a network connection thanks to an online gateway. With the use of the patient portal, patients can manage their own health and treatment. Patient portals can also speed up communication with the doctor, help with care between appointments, and reduce waiting times. Portals are being used by more patients than ever. For instance, almost 77% of executives in the health sector are investing in better smartphone websites and applications. Over 50% want to invest in technologies to engage with patients via messaging, according to a report by Intrado Healthcare on patient management trends for 2022.Further, the U.S. Healthcare Edge Computing market held the largest market share, and the Canada Healthcare Edge Computing market was the fastest growing market in the North America region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: HEALTHCARE EDGE COMPUTING MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Healthcare Edge Computing market accounted for the healthy market share in 2022. According to projections, demand for mobile health will increase due to the region's aging population, which is more prone to suffer from chronic ailments such neurological diseases, hypertension, diabetes, and cardiovascular disease. Further, the German Healthcare Edge Computing market held the largest market share, and the U.K Healthcare Edge Computing market was the fastest growing market in the European region.

The Asia Pacific Healthcare Edge Computing market is expected to register significant growth from 2023 to 2032. A strong computational infrastructure is required because of the region's tremendous development of the connected device ecosystem and the volume of data that has been generated as a result. Moreover, China’s Healthcare Edge Computing market held the largest market share, and the Indian Healthcare Edge Computing market was the fastest growing market in the Asia-Pacific region.

Healthcare Edge Computing Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Healthcare Edge Computing market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Healthcare Edge Computing Industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Healthcare Edge Computing Industry to benefit clients and increase the market Application. In recent years, the Healthcare Edge Computing Industry has offered some of the most significant advantages to medicine. Major players in the Healthcare Edge Computing market, including Cisco, AWS, Dell Technologies, Google, HPE, Huawei, IBM, Intel, Litmus Automation, Microsoft, Nokia, ADLINK, Axellio, Capgemini, ClearBlade, Digi International, Fastly, StackPath, Vapor IO, GE Digital, Moxa, Sierra Wireless, Juniper Networks, EdgeConnex, Belden, Saguna Networks, Edge Intelligence, Edgeworx, Sunlight.io, Mutable, Hivecell, Section, and EdgeIQ, are attempting to increase market demand by investing in research and development operations.

Intent-based solutions for networking, security, collaboration, apps, and the cloud are integrated by Cisco Systems Inc (Cisco). The company sells wireless equipment, controllers, access points, switches, modules, routers, and interfaces. The US state of California is home to Cisco's corporate headquarters. In February 2023, Cisco unveiled Cisco Edge Intelligence, a product that enhances data governance and management while obtaining smart insights from connected assets to boost an organization's competitiveness. It is based on Cisco's multi-layered security, a market leader.

Provider of desktop personal computers, software, and accessories is Dell Technologies Inc. The business creates, develops, produces, promotes, and sells information technology infrastructure, including laptops, desktops, mobile devices, workstations, storage devices, software, and cloud solutions. It also provides support for this infrastructure. The corporation operates throughout the Middle East, Africa, Asia-Pacific, the Americas, and Europe. The headquarters of Dell are in Round Rock, Texas, in the US.

Key Companies in the Healthcare Edge Computing market include

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  Cisco

  
  


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  AWS

  
  


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  Dell Technologies

  
  


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  Google

  
  


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  HPE

  
  


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  Huawei

  
  


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  IBM

  
  


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  Intel

  
  


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  Litmus Automation

  
  


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  Microsoft

  
  


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  Nokia

  
  


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  ADLINK

  
  


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  Axellio

  
  


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  Capgemini

  
  


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  ClearBlade

  
  


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  Digi International

  
  


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  Fastly

  
  


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  StackPath

  
  


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  Vapor IO

  
  


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  GE Digital

  
  


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  Moxa

  
  


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  Sierra Wireless

  
  


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  Juniper Networks

  
  


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  EdgeConnex

  
  


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  Belden

  
  


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  Saguna Networks

  
  


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  Edge Intelligence

  
  


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  Edgeworx

  
  


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  Sunlight.io

  
  


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  Mutable

  
  


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  Hivecell

  
  


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  Section

  
  


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  EdgeIQ

  
  

Healthcare Edge Computing Industry Developments

April 2023: In order to let businesses connect, gather, and analyze data from various sources, including video cameras, Nokia launched four third-party applications for MX Industrial Edge. These applications would enable businesses to maximize the value of their operational technology assets over a strong and secure on-premises edge.

Healthcare Edge Computing Market Segmentation

Healthcare Edge Computing Component Outlook

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  Hardware

  
  


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  Software

  
  


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  Services

  
  

Healthcare Edge Computing Application Outlook

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  Smart Cities

  
  


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  Industrial Internet of Things (IoT)

  
  


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  Remote Monitoring

  
  


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  Content Delivery

  
  


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  Augmented Reality (AR) and Virtual Reality (VR)

  
  


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  Others (Autonomous Vehicles, Drones, And Gaming)

  
  

Healthcare Edge Computing Organization Size Outlook

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  Large Enterprises

  
  


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  SMEs

  
  

Healthcare Edge Computing Regional Outlook