Edge Computing in Healthcare Market Report 2024

The edge computing in healthcare market size has grown exponentially in recent years. It will grow from $3.81 billion in 2023 to $4.67 billion in 2024 at a compound annual growth rate (CAGR) of 22.5%. The increase in telemedicine services, rising concerns about data privacy, the demand for real-time data processing, the rise in wearable health devices, and the development of 5G networks drove growth during the historic period.

The edge computing in healthcare market size is expected to see exponential growth in the next few years. It will grow to $10.6 billion in 2028 at a compound annual growth rate (CAGR) of 22.8%. During the forecast period, growth is expected due to increased focus on disaster recovery and continuity planning, the expansion of wearable health technology, cost efficiency in healthcare operations, regulatory initiatives favoring data localization, and the expansion of virtual healthcare services. Key trends in this period include the integration of AI and machine learning, expansion of the internet of medical things, continuum from edge-to-cloud computing, applications of virtual and augmented reality, innovation in products, and technological integration.

The growth of edge computing in the healthcare market is expected to be propelled by the expansion of telehealth services. Telehealth services utilize digital technologies such as computers, mobile devices, and wearables to remotely access and manage healthcare services. This expansion is driven by increasing demand for accessible, convenient, and efficient healthcare delivery. Edge computing plays a crucial role in telehealth by enabling low-latency data processing and real-time analytics, thereby enhancing the responsiveness and reliability of remote patient consultations and diagnostics. For instance, a report by the Centers for Disease Control and Prevention in October 2022 revealed that approximately 37% of US adults used telemedicine in 2021, with women (42%) more likely to use it than men (31.7%), underscoring the growing reliance on remote healthcare services and driving the adoption of edge computing in healthcare.

Leading companies in the edge computing healthcare market are focusing on innovative solutions, such as AI computing platforms, to improve real-time data analysis and enhance patient outcomes. An AI computing platform integrates hardware and software to perform advanced tasks such as machine learning and data analysis efficiently. For example, Nvidia Corporation launched the NVIDIA IGX platform in September 2022, designed for high-precision edge AI applications. This platform enhances security and safety in sensitive industries such as healthcare, manufacturing, and logistics. Specifically tailored for industrial automation and medical devices, it supports robotic-assisted surgery, patient monitoring, and advanced manufacturing processes, fostering safer human-machine collaboration.

In January 2023, Dell Inc., a US-based technology company, completed the acquisition of Cloudify for an undisclosed sum. This strategic move is intended to bolster Dell's cloud services, particularly in DevOps, and expand its offerings in edge computing solutions. Cloudify, headquartered in Israel, specializes in providing edge computing solutions, particularly within the healthcare sector.

Major companies operating in the edge computing in healthcare market are 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.

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 regions covered in the edge computing in healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries 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.

Edge computing in healthcare involves processing and analyzing data generated by medical devices, sensors, and wearables at or near the point of data generation, rather than transmitting it to a centralized data center or cloud. This approach necessitates deploying computing resources such as servers, storage, and networking devices in proximity to where patient data is collected. By doing so, edge computing enhances the integration of digital technologies into medical practice, facilitating more efficient healthcare delivery while safeguarding data security and privacy.

The primary components of edge computing in healthcare encompass hardware, software, and services. Hardware in edge computing refers to physical devices and equipment that support data collection, processing, and storage at the network's edge. This infrastructure is utilized across various applications including telehealth, remote patient monitoring, diagnostics, robotic surgery, and ambulance services. End-users benefiting from these advancements include hospitals, clinics, long-term care centers, home care settings, and ambulatory care centers.

The edge computing in healthcare market research report is one of a series of new reports that provides edge computing in healthcare market statistics, including edge computing in healthcare industry global market size, regional shares, competitors with a edge computing in healthcare market share, detailed edge computing in healthcare market segments, market trends and opportunities, and any further data you may need to thrive in the edge computing in healthcare industry. This edge computing in healthcare market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The edge computing in healthcare market consists of revenues earned by entities by providing services such as clinical decision support, medical imaging, and wearable health technology integration. The market value includes the value of related goods sold by the service provider or included within the service offering. The edge computing in healthcare market also includes sales of 5G equipment, healthcare robots, data storage devices, and wearable health monitors. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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