Edge Computing in Healthcare Market Expected to Cross USD 43.29 Billion By 2032, Driving 26.3% CAGR Growth: Polaris Market Research

NEW YORK, Nov. 27, 2023 /PRNewswire/ -- A latest research report [110+] pages with 360-Degree visibility, titled "Edge Computing in Healthcare Market Share, Size, Trends, Industry Analysis Report, By Offering (Hardware, Software, Services); By Application; By End User; By Region; Segment Forecast, 2023- 2032" published by Polaris Market Research in its research repository.

According to research report, the global edge computing in healthcare market size and share is predicted to grow from USD 4.19 billion in 2022 to USD 43.29 billion in 2032. It is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 26.3% from 2023 to 2032, according to the latest report by Polaris Market Research.

What is the use of Edge Computing in Healthcare? How Big is Edge Computing in Healthcare Market Size?

• Overview

The process of bringing computer power and data processing devices closer to the sources of medical data so they can be examined more quickly in order to save lives and enhance patient outcomes is known as edge computing in the healthcare industry. Edge devices handle data from asset tracking to the Internet of Things (IoT) for equipment maintenance and environmental monitoring. This application improves patient safety, lowers downtime, and maximizes hospital efficiency.

Moreover, hospital electronic health records (EHRs) are managed by edge computing systems, which give doctors quick and safe access to patient data. The accuracy of diagnosis and treatment plans is improved, and workflows in the healthcare industry are streamlined as a result of this connection. Therefore, edge computing in healthcare market demand is growing.

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Who are the Market Leaders in Edge Computing?

• Advantech
• Amazon Web Services (AWS)
• Aruba Networks
• Cisco Systems, Inc
• Dell Technologies, Inc.
• General Electric Company
• Google LLC
• Hewlett Packard Enterprise Company
• IBM
• Intel Corporation
• Microsoft Corporation
• Nokia Corporation
• NVIDIA Corporation
• Philips Healthcare
• Siemens Healthineers

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Important Highlights from the Report

• Increased emphasis on patient safety, telemedicine service expansion, and Internet of Things usage are anticipated to drive market demand.
• The edge computing in healthcare market segmentation is primarily based on application, offering, region, and end user.
• Asia Pacific is anticipated to experience significant growth during the forecast period.

Edge Computing in Healthcare Market Details

Market's Prime Determinants of Growth, Trends, and Opportunities

Growth Drivers

• Real-Time Data: Healthcare practitioners must have rapid access to patient data, which is why real-time data processing is essential. This is especially important in situations involving critical care because instantaneous judgments have the potential to save lives.
• The Rapid Growth of Telehealth Services: Low-latency data transfer is required because the COVID-19 pandemic accelerates the rapid spread of telehealth services. Remote patient monitoring, diagnostics, and smooth, high-quality video consultations are all made possible by edge computing, which is expanding edge computing in healthcare market growth.

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Trends and Opportunities

• Increased Prevalence of Chronic Diseases: Comprehensive remote patient monitoring is necessary due to the rising incidence of chronic illnesses. By properly processing and sending data from medical sensors and wearable devices, edge computing satisfies this demand and enables healthcare providers to treat chronic illnesses more successfully.
• Accessibility and Quality of Care: The need for edge computing infrastructure is further fueled by government programs and financing for telemedicine development, healthcare digitization, and the widespread adoption of electronic health records (EHRs). By bringing healthcare delivery into the digital era, these efforts hope to increase care quality and accessibility.

Segmental Analysis

• Hardware Accounts for a Significant Market Share

The hardware sector accounts for the crucial edge computing in healthcare market share. An essential element in guaranteeing the successful implementation of edge computing in healthcare environments is hardware. Internet of Things sensors are critical to edge computing in healthcare. These consist of glucose meters, blood pressure monitors, temperature sensors, and other data-gathering equipment.

Moreover, AI and machine learning applications in the healthcare industry use hardware accelerators like GPUs and TPUs to expedite the processing of intricate algorithms for tasks like medical image analysis. High-definition cameras are necessary for clear video conferencing and medical imaging in telehealth and distant consultations.

• Hospitals and Clinics Hold the Significant Revenue Share

Hospitals can now monitor patients in real time due to edge computing, which processes data from medical sensors and wearables with ease. This feature guarantees ongoing patient monitoring, expedites the recognition of significant alterations in medical situations, and eventually improves patient results.

Furthermore, X-rays, MRIs, and CT scans are among the medical pictures that edge computing expedites in processing and analysis. This development enables doctors and radiologists to access and analyze images at a never-before-seen speed, leading to quicker treatment decisions and diagnoses.

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Regional Insights

Which Country is Leading in Edge Computing?

Asia Pacific: Throughout the projection period, the edge computing in healthcare market in Asia Pacific is anticipated to have substantial growth. In Asia-Pacific, edge computing is bringing in a new era of patient-centric healthcare. Continuous remote patient monitoring is made possible with real-time data processing at the edge. This enables medical professionals to create more individualized treatment programs, guaranteeing prompt interventions and better patient results. Asia-Pacific's telemedicine scene is growing, with edge computing at its center.

North America: In 2022, North America surpassed all other regions in size. The pandemic hastened the U.S. adoption of telehealth, and edge computing is essential to this change. It makes healthcare more accessible by guaranteeing safe, low-latency video consultations, quick data transfers, and remote patient monitoring.

Browse the Detail Report "Edge Computing in Healthcare Market Share, Size, Trends, Industry Analysis Report, By Offering (Hardware, Software, Services); By Application; By End User; By Region; Segment Forecast, 2023- 2032" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/edge-computing-in-healthcare-market  

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Key Questions Answered in the Report

• What is the current and expected edge computing in healthcare market size during the forecast period?
• At what rate is the market growth rate estimated?
• What are the key driving factors in the market?
• Which segment holds the largest market share?
• What are the key trends and opportunities in edge computing in healthcare market?
• Who are the key edge computing players in healthcare market?
• Which is the largest region of the market?

Polaris Market Research has segmented the Edge Computing in Healthcare market report based on offering, application, end user, and region:

Edge Computing in Healthcare, Offering Outlook (Revenue - USD Billion, 2019 - 2032)

• Hardware
• Software
• Services

Edge Computing in Healthcare, Application Outlook (Revenue - USD Billion, 2019 - 2032)

• Robotic Surgery
• Diagnostics
• Remote Patient Monitoring and Telehealth
• Others

Edge Computing in Healthcare, End User Outlook (Revenue - USD Billion, 2019 - 2032)

• Hospitals and Clinics
• Ambulatory Centers
• Nursing Homes and Home Care
• Others

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About Polaris Market Research:

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.

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Meta Title: Edge Computing in Healthcare Market Expected to Cross USD 43.29 Billion By 2032, Driving 26.3% CAGR Growth: Polaris Market Research

Meta Description:  Global edge computing in healthcare market size and share is predicted to grow from USD 4.19 billion in 2022 to USD 43.29 billion in 2032. It is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 26.3% from 2023 to 2032, according to the latest report by Polaris Market Research.

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SOURCE Polaris Market Research