The edge computing market in healthcare is witnessing remarkable growth, surging from $3.81 billion in 2023 to $4.67 billion in 2024, reflecting a compound annual growth rate (CAGR) of 22.5%. This growth trajectory is fueled by the surge in telemedicine services, rising data privacy concerns, demand for real-time data processing, and the proliferation of wearable health devices. The market is projected to reach $10.60 billion by 2028, growing at a CAGR of 22.8%. Key growth factors include a focus on disaster recovery, advancements in wearable technology, cost efficiencies in healthcare, regulatory pushes for data localization, and the expansion of virtual healthcare services. Major trends include the integration of AI and machine learning, the expansion of the Internet of Medical Things, and innovations in virtual and augmented reality.
Major Driver In The Edge Computing In Healthcare Market
The anticipated growth of edge computing in the healthcare market is largely driven by the expansion of telehealth services. Telehealth utilizes digital technologies—such as computers, mobile devices, and wearables—to facilitate remote healthcare access and management. This trend is fueled by a rising demand for accessible, convenient, and efficient healthcare delivery. Edge computing plays a pivotal role in telehealth by enabling low-latency data processing and real-time analytics, enhancing the responsiveness and reliability of remote consultations and diagnostics. Notably, a report by the Centers for Disease Control and Prevention indicated that around 37.0% of U.S. adults utilized telemedicine in 2021, with women (42.0%) more likely to engage with these services than men (31.7%). This growing reliance on telehealth is significantly propelling the edge computing market in healthcare.
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Edge Computing In Healthcare Market Competitive Landscape
Google LLC, Samsung Electronics Co., Microsoft Corporation, Verizon Communications Inc., Dell Technologies Inc., Amazon Web Services (AWS) Inc., Lenovo Group Limited, General Electric Company, Intel Corporation, IBM Corporation, Cisco Systems Inc., Qualcomm Incorporated, Hewlett Packard Enterprise Company, Fujitsu Limited, NVIDIA Corporation, Nokia Corporation, Siemens Healthineers AG, Koninklijke Philips NV, VMware Inc., Advantech Co. Ltd., Aruba Networks Inc., ADLINK Technology Inc., Huawei Technologies Co. Ltd., Litmus Automation Inc., Veea Inc., FogHorn Systems Pvt Ltd.
Key Edge Computing In Healthcare Market Trend
In the edge computing in healthcare market, companies are pioneering AI computing platforms to facilitate real-time data analysis and improve patient outcomes. For example, in September 2022, Nvidia Corporation introduced the NVIDIA IGX platform, designed for high-precision edge AI. This industrial-grade platform enhances the safety and effectiveness of autonomous systems in sensitive sectors like healthcare, making significant strides in robotic-assisted surgery and patient monitoring.
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Edge Computing In Healthcare Market Segmentation
The edge computing in healthcare market covered in this report is segmented –
1) By Offering: Hardware, Software, Services
2) By Application: Telehealth And Remote Patient Monitoring, Diagnostics, Robotic Surgery, Ambulances, Other Applications
3) By End User: Hospitals And Clinics, Long-Term Care Centers And Home Care Settings, Ambulatory Care Centers, Other End-Users
By Geography:The regions covered in the edge computing in healthcare market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the edge computing in healthcare market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The Edge Computing In Healthcare Global Market Report 2024 furnishes information about the global edge computing in healthcare market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
