Chicago, Sept. 15, 2023 (GLOBE NEWSWIRE) -- The Edge Data Center Market is projected to grow from USD 10.4 billion in 2023 to USD 29.6 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 23.2% during the forecast period, according to a new report by MarketsandMarkets™.
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AI Governance Market Dynamics:
Drivers:
- Surge in IoT devices
- Low latency requirements
Restraints:
- Heavy initial capital investment
- Regulatory compliance
Opportunities:
- Growing demand for smart city initiatives
- Growing demand for edge data center as a service
List of Key Players in Edge Data Center Market:
- Dell (US),
- Eaton (Ireland),
- IBM (US),
- NVIDIA (US),
- Schneider Electric (France),
- Fujitsu (Japan),
- HPE (US),
- Cisco (US),
- Huawei (China)
- Rittal (Germany),
- Panduit (US),
- Equinix (US)
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The edge data center market is gaining popularity across industries due to the rise in IoT devices, which has increased the demand for high-bandwidth applications.
Based on components, the solutions segment leads the market. Data centers handle a wide range of applications and services. Some applications, such as real-time analytics, IoT devices, online gaming, and autonomous vehicles, require low latency to provide a seamless user experience. Data centers can reduce these critical applications’ latency and processing time by deploying edge computing resources closer to the end-users or edge devices. The proliferation of IoT devices generates massive amounts of data that require real-time processing. Edge data centers can collect, process, and analyze IoT data locally, reducing the need to transmit all data back to a centralized data center. This approach enhances the efficiency and scalability of IoT and IIoT deployments.
Based on services, the integration & implementation segment holds the highest share of the market. The correct deployment of edge data center solutions/services is vital for various network systems and network infrastructure, and trained professionals are required to deploy a solution. Integration service providers provide seamless platform integration with tools such as CRM, analytics tools, and AI-enabled matchmaking assistance to enhance engagement and networking opportunities of like-minded individuals. Implementation & integration services help reduce the complexities in configuring the edge data center solutions.
Based on vertical, the IT & Telecom vertical holds the most prominent market foothold. The IT and telecom sector witnessed fast growth as several users connect to the internet daily. The demand for edge data centers in the IT and telecom sectors is driven by several factors, reflecting the need for low latency, high-performance computing resources, the growth of data-intensive applications, and the increasing reliance on edge computing capabilities.
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The edge data center market includes the analysis of five regions: North America, Asia Pacific, Europe, the Middle East & Africa, and Latin America. Asia Pacific region holds the highest CAGR during the forecast period. Asia Pacific countries were undergoing rapid digital transformation across various industries. This transformation drove the need for edge data centers to support deploying IoT devices, real-time applications, and data-intensive services. The deployment of 5G networks was gaining momentum in many Asia Pacific countries. 5G’s low latency and high bandwidth requirements necessitated the establishment of edge data centers to deliver the promised performance for applications like autonomous vehicles, smart cities, and remote healthcare.
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