Northbrook, IL 60062 -- (SBWIRE) -- 10/05/2023 -- Edge Computing in Healthcare Market by Component (Hardware, Software, Services), Application (Diagnostics, Robotic Surgery, Telehealth, RPM, and Ambulances), End User (Hospitals, Clinics, Ambulatory Care Center), & Region - Global Forecast to 2028", is projected to reach USD 12.9 billion by 2028, from USD 4.1 billion in 2022, at a CAGR of 26.1% from 2022 to 2028. Edge computing is gaining popularity across industries as there is a rise in the number of devices, which has increased the demand for high-bandwidth applications with the growing use of internet services. Edge computing is rapidly gaining acceptance worldwide by healthcare organizations due to various benefits, including low latency, traffic distribution, increased reliability, and reduced costs.

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Key Market Players:

Major players operating in the edge computing in healthcare market are CISCO Systems, Inc. (US), HUAWEI Technologies Co. Ltd (China), Dell Technologies, Inc. (US), Amazon Web Services (US), Google, Inc. (US), Microsoft Corporation (US), Intel Corporation (US), General Electric Digital (US), Hewlett Packard Enterprise Company (US), VMware, Inc. (US).

Edge Computing in Healthcare Market Dynamics:

Drivers:

Growing adoption of IoT medical devices
Exponentially increasing network traffic and volume of healthcare data
Rising need to curtail healthcare costs
Rising demand for low-latency processing and real-time, automated decision-making solutions

Restraints:

High CAPEX and OPEX associated with edge computing systems
Interoperability challenges related to edge computing across different healthcare systems

Opportunities:

Advent of 5G network

Challenges:

Complexities in integrating edge computing systems with existing cloud architecture
Susceptibility to cyberattacks and limited authentication capabilities of edge computing architectur

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Hardware segment is expected to be the largest edge computing in healthcare market, by component, during the forecast period

Based on offering, the market is segmented into software and services. The software segment accounted for the largest share of the global market in 2022. The hardware segment dominated this market in 2022, this is due to the high-scale deployment of edge hardware by healthcare organizations to achieve high performance, scale, and flexibility.

The hospitals & clinics segment, by end user, is expected to be the largest and fastest growing edge computing in healthcare market during the forecast period

Based on end-users, hospitals & clinics garner high revenue owing to their huge generation of data, attributed to the widespread geographical presence and customer base. Edge computing is transforming the way hospitals and clinics manage data, enabling faster, more efficient decision-making and reducing the burden on IT infrastructure. This technology is helping to improve patient outcomes, enhance the patient experience, and increase the overall efficiency of healthcare systems.

North America is expected to account for the largest share in edge computing in healthcare market in 2022

Based on region, the global market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. In 2022, North America accounted for the largest market share followed by Europe. The increasing number of alliances and partnerships among edge computing and other technology providers for continuous technological innovations and advancements in edge computing have further added to the growth of the global edge computing market in North America.

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Recent Developments:

- In December 2022, Intel Labs and the Perelman School of Medicine at the University of Pennsylvania (Penn Medicine) completed of a joint research study using distributed machine learning (ML) and artificial intelligence (AI) approaches to help international healthcare and research institutions identify malignant brain tumors.

- In February 2023, Cisco Systems, Inc. (US) partnered with the NTT DATA (Tokyo) to boost private 5G adoption and edge computing solutions across the Automotive, Logistics, Healthcare, Retail, and public sectors. Cisco Systems, Inc. also collaborated with Bharti Airtel and Apollo Hospitals, Inc. to develop 5G-connected ambulances

- In February 2022, Kyndryl partnered with Amazon Web Services to establish a Cloud Centre of Excellence to provide joint solutions, such as mainframe, network, edge computing, and ERP services for mission-critical infrastructure.

- In October 2021, Dell Technologies enhanced its edge innovations across its infrastructure and PC portfolios to assist organizations in simplifying deployments and capturing more value from data generated and processed outside of the traditional data center and public cloud—from rugged and remote locations to retail stores and factory floors. For instance, VxRail satellite node single-node deployments automate day-to-day operations, health monitoring, eliminating the need for local technical and specialized staff.

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