Edge Computing In Healthcare Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 6.82 Billion |
| Market Size (2029) | USD 18.33 Billion |
| CAGR (2024 - 2029) | 19.60 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Edge Computing In Healthcare Market Analysis
The Edge Computing In Healthcare Market size is estimated at USD 6.82 billion in 2024, and is expected to reach USD 18.33 billion by 2029, growing at a CAGR of 19.60% during the forecast period (2024-2029).
The major factors driving the market are the growing adoption of the Internet of Things (IoT) in medical devices, the increasing expansion of telehealth services, and increasing investments in the digitalization of the healthcare industry.
The growing adoption of the Internet of Things (IoT) in medical devices describes the network of medical devices connected to share data. This adoption can increase the data generated in healthcare organizations, increasing the demand for edge computing solutions for analyzing data more efficiently and improving patient care, which will drive the market during the forecast period.
For instance, according to an article published in the Internet of Things Journal in July 2023, the emergence of IoT provides huge opportunities in the healthcare field. When it comes to telemonitoring patients, IoT is expected to be crucial in healthcare facilities and, more significantly, patients’ own homes. The deployment of IoT in remote health monitoring also has enormous potential for improving healthcare service quality and lowering costs via early detection and prevention of illnesses and other potentially dangerous conditions.
Hence, due to the various advantages offered by IoT to healthcare providers, its adoption is expected to increase, which ultimately increases the utilization of edge computing technologies for the processing of data and will drive the market during the forecast period.
Moreover, the increasing strategic activities, such as new software launches and acquisitions, will increase the accessibility and affordability of edge computing technologies, which will drive the market during the forecast period. For instance, in February 2024, Intel reported the launch of the new Edge Platform, an open software platform enabling healthcare to develop, deploy, run, secure, and manage edge and AI applications at scale in the organization with cloud-like simplicity. Hence, the launch of such solutions will increase the accessibility of edge technologies and accelerate the market during the forecast period.
Also, the increasing digitalization of healthcare increases the efficient adoption of edge computing solutions to patient care, which will drive the market during the forecast period. For instance, according to an article published in January 2024, the UK government recognizes that health systems must embrace new “ways of working,” which include the scaled adoption of digital technologies, AI, edge computing, and a preventative approach to healthcare. Hence, the increasing digitalization of healthcare is expected to drive the market during the forecast period.
In conclusion, the increasing adoption of the Internet of Things (IoT) medical devices, growing investments in the digitalization of the healthcare industry, and rising strategic activities such as new edge software launches are expected to drive the market during the forecast period. However, the high cost of deployment and maintenance is expected to restrain the market during the forecast period.
Edge Computing In Healthcare Market Trends
The Telehealth and Remote Patient Monitoring Segment is Expected to Hold a Significant Market Share During the Forecast Period
By utilizing edge computing technologies, telehealth providers can provide a more efficient and integrated experience, which leads to higher engagement and satisfaction. The patients can access remote consultations and medical records and monitor their health and wellness using wearable devices. The increasing investments to increase the adoption of telehealth to reduce the healthcare burden and rising research activities for the incorporation of edge computing in patient monitoring are expected to drive segment revenue during the forecast period.
The increasing investments by government organizations to increase the adoption of telehealth services, which increases the demand for edge computing software to process patient data, are expected to drive the market during the forecast period.
For instance, in May 2022, the Department of Health and Human Services (HHS) awarded USD 16.3 million in grant funding to support 31 grantees to enhance and expand the telehealth infrastructure and capacity of Title X family planning clinics across 26 states of America. Hence, the increasing investment in the adoption of telehealth services is expected to drive the market during the forecast period.
Also, the growing research activities for the incorporation of edge computing in telehealth and remote patient monitoring are expected to increase the accessibility and affordability of edge computing technologies and will drive the market during the forecast period.
For instance, in April 2023, The University of Wisconsin School of Computer, Data, and Information Sciences (CDIS) at UW–Madison and GE HealthCare collaborated to explore artificial intelligence (AI) and edge computing to improve precision and flexibility in patient monitoring technology. Hence, such collaboration between the research institutes accelerates the adoption of edge computing technology in healthcare for patient monitoring that can support clinicians in providing real-time, critical patient care, which will drive the market during the forecast period.
Hence, the increasing investment by government organizations to increase the adoption of telehealth services and growing research activities for the incorporation of edge computing in patient monitoring are expected to drive segment growth during the forecast period.
North America is Expected to Hold the Significant Market Share During the Forecast Period
Edge computing in the healthcare market in North America is majorly driven by the increasing adoption of digital solutions in hospitals, advanced healthcare infrastructure, increasing strategic activities by the key players, and increasing burden on the healthcare industry.
The growing digitalization of the healthcare industry in North America increases the utilization of edge-computing technologies to enable the real-time data analysis of medical devices such as patient monitors, wearables, and imaging equipment. It improves patient care, which will drive the market during the forecast period.
For instance, according to the Canadian Digital Health Survey, the online survey conducted in November 2022 with 12.4 thousand Canadians across all provinces and territories showed that 94% of Canadians were interested in accessing digital health services. Hence, the rising digitalization of healthcare in the country is expected to drive edge computing software for efficient analysis of the data produced by the digital application and help clinicians make informed decisions in less time. Therefore, the rising digitalization in healthcare is expected to drive the market during the forecast period.
Also, the increasing strategic activities, such as the launch of new edge computing solutions to increase access to edge computing technologies, are expected to drive the market during the forecast period.
For instance, in June 2024, NVIDIA, a technology company, launched the NVIDIA AI Enterprise-IGX with NVIDIA Holoscan on the NVIDIA IGX platform. This platform helps medical providers develop and deploy edge AI solutions faster with enterprise-grade software and support. Some of the medical technology companies, Barco, Karl Storz, Medtronic, and Moon Surgical, adopted the NVIDIA IGX with Holoscan to accelerate the development of AI-powered and edge computing solutions for medical diagnostics, surgical copilots, and surgical robots. Hence, the launch of such solutions is expected to increase the accessibility of edge computing technologies and drive the market during the forecast period.
Hence, the increasing digitalization of the healthcare industry and increasing strategic activities, such as the launch of new edge computing technologies, are expected to increase the accessibility and affordability of these technologies and drive the market during the forecast period.
Edge Computing In Healthcare Industry Overview
Edge computing in the healthcare market is fragmented due to the increasing number of collaborations and partnerships among edge computing providers and medical device providers to innovate and advance in the market continuously. Some of the key players in the market are Cognizant, IBM, Dell Technologies Inc., Advantech Co. Ltd, and Microsoft.
Edge Computing In Healthcare Market Leaders
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Cognizant
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IBM
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Dell Technologies, Inc.
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Advantech Co.
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Microsoft
*Disclaimer: Major Players sorted in no particular order
Edge Computing In Healthcare Market News
March 2024: Johnson & Johnson MedTech reported collaborating with NVIDIA to accelerate and scale artificial intelligence (AI) to increase access to real-time analysis and surgical decision-making. The Johnson and Johnson MedTech will utilize the NVIDIA IGX edge computing platform and the NVIDIA Holoscan edge AI platform to create infrastructure to deploy AI-powered software applications in the operation room.
July 2024: Cognizant reported the launch of the Cognizant Neuro Edge, a platform designed to empower businesses across industries to leverage artificial intelligence and generative AI at the edge. This solution enables real-time data processing, enhanced data privacy, reduced bandwidth costs, and increased operational resilience so that healthcare organizations can harness the power of edge technology and drive the business forward.
Edge Computing In Healthcare Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and market definitions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Growing Adoption of IoT Medical Devices
- 4.2.2 Increasing Digitalization of Healthcare
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4.3 Market Restraints
- 4.3.1 High Cost of Deployment and Maintaince
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4.4 Porter's Five Force Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
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5.1 By Component
- 5.1.1 Software
- 5.1.2 Hardware
- 5.1.3 Services
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5.2 By Application
- 5.2.1 Diagnostics and Monitoring
- 5.2.2 Telehealth and Remote Patient Monitoring
- 5.2.3 Robotic and AI-assisted Surgery
- 5.2.4 Ambulances
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5.3 By End User
- 5.3.1 Hospitals and Clinics
- 5.3.2 Surgical Centers
- 5.3.3 Other End Users (Diagnostic Centers, Long-term Care Centers, and Other End Users)
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5.4 Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.1.3 Mexico
- 5.4.2 Europe
- 5.4.2.1 Germany
- 5.4.2.2 United Kingdom
- 5.4.2.3 France
- 5.4.2.4 Italy
- 5.4.2.5 Spain
- 5.4.2.6 Rest of Europe
- 5.4.3 Asia-Pacific
- 5.4.3.1 China
- 5.4.3.2 Japan
- 5.4.3.3 India
- 5.4.3.4 Australia
- 5.4.3.5 South Korea
- 5.4.3.6 Rest of Asia-Pacific
- 5.4.4 Middle East and Africa
- 5.4.4.1 GCC
- 5.4.4.2 South Africa
- 5.4.4.3 Rest of Middle East and Africa
- 5.4.5 South America
- 5.4.5.1 Brazil
- 5.4.5.2 Argentina
- 5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 ZPE Systems Inc.
- 6.1.2 Intel Corporation
- 6.1.3 Advantech Co. Ltd
- 6.1.4 Hewlett Packard Enterprise Development LP
- 6.1.5 Microsoft
- 6.1.6 Dell Technologies Inc.
- 6.1.7 GE HealthCare
- 6.1.8 Google LLC
- 6.1.9 IBM
- 6.1.10 Cognizant
- 6.1.11 Akamai Technologies
- 6.1.12 Intel Corporation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityEdge Computing In Healthcare Industry Segmentation
As per the scope of the report, edge computing in the healthcare market refers to bringing processing capacity and data processing systems closer to medical data sources to analyze medical data more efficiently and enhance patient outcomes.
Edge computing in the healthcare market is segmented into components, applications, end users, and geography. By component, the market is segmented into software, hardware, and services. By application, the market is segmented into diagnostics and monitoring, telehealth and remote patient monitoring, robotic AI-assisted surgery, and ambulances. By end user, the market is segmented into hospitals and clinics, surgical centers, and other end users (diagnostic centers, long-term care centers, and other end users). By geography, the market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers values (USD) for the above segments.
| By Component | Software | |
| Hardware | ||
| Services | ||
| By Application | Diagnostics and Monitoring | |
| Telehealth and Remote Patient Monitoring | ||
| Robotic and AI-assisted Surgery | ||
| Ambulances | ||
| By End User | Hospitals and Clinics | |
| Surgical Centers | ||
| Other End Users (Diagnostic Centers, Long-term Care Centers, and Other End Users) | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Edge Computing In Healthcare Market Research FAQs
How big is the Edge Computing In Healthcare Market?
The Edge Computing In Healthcare Market size is expected to reach USD 6.82 billion in 2024 and grow at a CAGR of 19.60% to reach USD 18.33 billion by 2029.
What is the current Edge Computing In Healthcare Market size?
In 2024, the Edge Computing In Healthcare Market size is expected to reach USD 6.82 billion.
Who are the key players in Edge Computing In Healthcare Market?
Cognizant, IBM, Dell Technologies, Inc., Advantech Co. and Microsoft are the major companies operating in the Edge Computing In Healthcare Market.
Which is the fastest growing region in Edge Computing In Healthcare Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Edge Computing In Healthcare Market?
In 2024, the North America accounts for the largest market share in Edge Computing In Healthcare Market.
What years does this Edge Computing In Healthcare Market cover, and what was the market size in 2023?
In 2023, the Edge Computing In Healthcare Market size was estimated at USD 5.48 billion. The report covers the Edge Computing In Healthcare Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Edge Computing In Healthcare Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Edge Computing In Healthcare Industry Report
Statistics for the 2024 Edge Computing In Healthcare market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Edge Computing In Healthcare analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
