New York, United States, Nov. 21, 2022 (GLOBE NEWSWIRE) -- The Global Edge Data Center Market Size to grow from USD 5.9 billion in 2021 to USD 31.6 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 23.9% during the forecast period. Rising internet usage and quickening digitization are anticipated to fuel the growth of the edge data center market.
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The solution segment to account for the largest market size during the forecast period
Based on the Component, the Edge Data Center market is categorized into Solutions and Services. The Solutions segment accounts for the largest market size during the forecast period. The solutions segment has a higher impact on the growth of the edge data center market. An edge data center serves as a caching and data-aggregation point between users and larger data centres in this IT-intensive environment with high data traffic to lessen the burdensome IT load.
The Small & Medium Enterprises (SMEs) segment to hold a higher CAGR during the forecast period.
Based on the Organization, the Edge Data Center market is categorized into Large Enterprises and Small & Medium Enterprises (SMEs). The Small & Medium Enterprises (SMEs) segment holds a higher CAGR during the forecast period. In the upcoming years, SMEs are anticipated to quickly embrace edge data center solutions since they are experiencing strong digitization and online services, both of which require data-intensive applications.
Browse key industry insights spread across 192 pages with 129 market data tables and figures & charts from the report “Global Edge Data Center Market Size, Share, and COVID-19 Impact Analysis By Component (Solutions and Services), By Application (Retail, Banking financial services and insurance (BFSI), Logistics & Transportation, Healthcare, Government and IT & Telecom), By Organization (Large Enterprises and Small & Medium Enterprises (SMEs)) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030” in detail along with the table of contents.
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The COVID-19 pandemic has made an adverse impact on credit portfolios. There has been an unprecedented rise in unemployment and disruption in economic activity, putting a strain on the solvency of customers and companies. Central banks have taken a proactive approach by injecting liquidity into the market by lowering interest rates and asset purchase programs. Managing and monitoring credit, market, liquidity, and operational risk across financial markets were hard enough with ongoing geopolitical tensions, international trade wars, and the occasional hurricanes and earthquakes. The current pandemic has forced chief risk officers and their teams to recalibrate old assumptions and models used to manage and monitor risk. COVID-19’s global impact has shown that interconnectedness plays an important role in international cooperation. As a result, many governments started rushing toward identifying, evaluating, and procuring reliable solutions powered by AI.
The BFSI segment is to hold a higher CAGR during the forecast period.
Based on the application, the Edge Data Center market is categorized into Banking, financial services, and insurance (BFSI)s, Logistics & Transportation, Healthcare, Government, IT & Telecom and Retails. The BFSI segment is to hold a higher CAGR during the forecast period. The BFSI industry will have the biggest need for edge data centres because of its growing emphasis on effective, reliable IT infrastructure and its growing requirement for safe processing and storage of customer data.
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North America to hold a higher CAGR during the forecast period.
The Global Edge Data Center Market has been segmented into five major regions: North America, Europe, Asia-Pacific, South America, the Middle East and Africa. Asia-Pacific is estimated to account for the highest market share in 2021. Due to the commercialization of 5G, increasing data traffic, and government initiatives to develop data centres, North America now holds the biggest market share. The majority of these solutions are used in the U.S., where states also spend heavily on data centres and provide higher financial incentives than Canadian provinces and territories.
Key Companies & Recent Developments: The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Edge Data Center Market include Eaton Corporation, EdgeConneX, Inc., Flexential Corporation, Fujitsu Ltd., Hewlett-Packard Enterprise Company, Hitachi Vantara, Huawei Technologies Co., Ltd., and IBM Corporation.
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Some of the Key Developments:
In May 2020- At the IBM Think Digital Conference, IBM Corporation and Red Hat unveiled innovative edge computing solutions for the 5G era. The new solutions are edge-enabled apps and services, IBM edge application manager, and IBM telco network cloud manager (including IBM Visual Insights, IBM Connected Manufacturing, and IBM Visual Inspector).
In February 2020- FusionPower 2.0, a new UPS power module, was introduced by Huawei Technologies Co. Ltd. at its 2020 Industrial Digital Transformation Conference. The new solution makes it possible for a single module's power density to exceed industry norms by 100 kilowatts (kW)/3 Units.
In December 2019- An integrated rack immersion liquid cooling technique was introduced by Schneider Electric SE in collaboration with Iceotope Technologies Limited and Avnet, Inc. for use in data centers. For applications that require a lot of computation, the product is perfect.
View a detailed Table of Content Here: https://www.sphericalinsights.com/table-of-contents/edge-data-center-market
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