Edge Computing in Healthcare Market: Current Analysis and Forecast (2024-2032)

Emphasis on Component (Hardware, Software, and Services); Application (Diagnostics, Telehealth & Remote Patient Monitoring, Robotic Surgery, Others); End User (Hospital & Clinics, Home Care Settings, and Others); Region/Country.

Geography:

Global

Industry:

Healthcare

Last updated:

Jun 2024

Edge computing in healthcare market size
Edge computing in healthcare market size

Edge Computing in Healthcare Market Size & Forecast


The Edge Computing in Healthcare Market was valued at USD 5000 Million and is expected to grow at a strong CAGR of around 25% during the forecast period (2024-2032) owing rising adoption of the IoT in medical device.


Edge Computing in Healthcare Market Analysis


Edge computing has emerged as a crucial technology in the healthcare sector, offering real-time data processing and analysis at the point of care.  As healthcare organizations continue to prioritize digital transformation and data-driven decision-making, edge computing is poised to play a pivotal role in shaping the future of healthcare delivery and patient outcomes. In the age of digital transformation, healthcare is embracing innovative technologies to improve patient care, optimize operations, and enhance overall efficiency. One such technology making waves in the healthcare industry is edge computing. Edge computing holds immense potential to revolutionize healthcare by bringing data processing closer to the source, enabling real-time insights, and facilitating seamless connectivity. This article explores the role of edge computing in healthcare, its benefits, challenges, and real-world applications.


Further, in a study conducted by Intel, edge computing reduced the latency of medical image analysis from minutes to milliseconds, enabling faster diagnosis and treatment planning.


The University of California, San Francisco (UCSF) implemented edge computing solutions to analyze data from wearable sensors, leading to a 90% reduction in the time required for detecting patient deterioration in intensive care units.


Edge computing in healthcare market segmentation
Edge computing in healthcare market segmentation

North America is Expected to Grow With Significant CAGR During Forecast Period


Within North America, the United States holds a major share of the market. The major factors boosting the market’s growth in the country are the increasing digitalization, growing focus on R&D, a well-established healthcare infrastructure, and the presence of several market players.


As per the data of HHS Office for Civil Rights (OCR) data breach portal, the healthcare sector suffered about 295 breaches in the first half of 2023 alone. More than 39 million individuals were implicated in healthcare data breaches in the first six months of the year. For Instance, In March 2023, A Breach was disclosed by PharMerica to OCR that impacted more than 5.8 million individuals. PharMerica is located in Louisville, Kentucky and is operated by parent company BrightSpring Health Services.


Edge computing in healthcare market trends
Edge computing in healthcare market trends

Edge Computing in Healthcare Industry Overview


The Edge Computing in Healthcare Market is competitive and fragmented, with the presence of several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market are CISCO System, Inc., Dell Technologies, Inc., Amazon Web Services, Google, Inc., Microsoft Coorporation, Intel Corporation, General Electric Digital, Hewlett Packard Enterprice Company, VMware, Inc., and HUAWEI Technologies Co. Ltd.


Edge Computing in Healthcare Market Report Coverage


Edge Computing in Healthcare Market Report Coverage
Edge Computing in Healthcare Market Report Coverage

Edge Computing in Healthcare Market News



  • In Feb 2023, Private 5G adoption and edge computing solutions were boosted by the Cisco System in partnership with the NTT DATA, across the automotive, logistics, healthcare, retail, and public sector.

  • In Feb 2022, Kyndryl in partnership with the Amazon Web Services to initiate a cloud centre of excellence to provide joint solution.


Reasons to buy this report:



  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts.

  • The report presents a quick review of overall industry performance at one glance.

  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.

  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

  • The study comprehensively covers the market across different segments.

  • Deep dive regional level analysis of the industry.


Customization Options:


The global Edge Computing in Healthcare Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.


Table of Contents

Research Methodology for the Edge Computing in Healthcare Market Analysis (2024-2032)


Analyzing the historical market, estimating the current market, and forecasting the future market of the global Edge Computing in Healthcare Market were the three major steps undertaken to create and analyze the adoption of Edge Computing in Healthcare in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Edge Computing in Healthcare Market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:


Analysis of Historical Market Size


Step 1: In-Depth Study of Secondary Sources:


Detail secondary study was conducted to obtain the historical market size of the Edge Computing in Healthcare Market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.


Step 2: Market Segmentation:


After obtaining the historical market size of the Edge Computing in Healthcare Market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, technology, component, and end-user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.


Step 3: Factor Analysis:


After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Edge Computing in Healthcare Market. Further, we conducted factor analysis using dependent and independent variables such as type, technology, component, and end-user of the Edge Computing in Healthcare Market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Edge Computing in Healthcare Market sector across the globe.


Current Market Size Estimate & Forecast


Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Edge Computing in Healthcare Market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.


Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:



  • The industry’s market size, in terms of revenue (USD) and the adoption rate of the Edge Computing in Healthcare Market across the major markets domestically

  • All percentage shares, splits, and breakdowns of market segments and sub-segments

  • Key players in the global Edge Computing in Healthcare Market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market


Market Size and Share Validation


Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.


Split of Primary Participants in Different Regions


Edge Computing in Healthcare Market graph
Edge Computing in Healthcare Market graph

Market Engineering


The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Edge Computing in Healthcare Market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the type, technology, component, and end-user in the global Edge Computing in Healthcare Market.


The main objective of the Global Edge Computing in Healthcare Market Study


The current & future market trends of the global Edge Computing in Healthcare Market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:



  • Analyze the current and forecast market size of the Edge Computing in Healthcare Market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments

  • Segments in the study include areas of the type, technology, component, and end-user

  • Define and analysis of the regulatory framework for the Edge Computing in Healthcare industry

  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry

  • Analyze the current and forecast market size of the Edge Computing in Healthcare Market for the major region

  • Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World

  • Company profiles of the Edge Computing in Healthcare Market and the growth strategies adopted by the market players to sustain in the fast-growing market

  • Deep dive regional level analysis of the industry



Frequently Asked Questions FAQs

Q1: What is the current market size and growth potential of the Edge Computing in Healthcare Market?

Q2: What are the driving factors for the growth of the Edge Computing in Healthcare Market?

Q3: Which segment has the largest share of the Edge Computing in Healthcare Market by component?

Q4: What are the emerging technologies and trends in the Edge Computing in Healthcare Market?

Q5: Which region will dominate the Edge Computing in Healthcare Market?

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