Redding, California, Jan. 10, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled, ‘Edge Data Center Market by Component, Organization Size, Application (Smart Cities, Factory Automation, Connected Healthcare, Others), and End User (Healthcare, Energy & Utilities, Automotive, Telecommunication) and Geography - Global Forecasts to 2030,’ the edge data centers market is projected to reach $45.2 billion by 2030, at a CAGR of 17.8% during the forecast period.
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The growth of this market is attributed to the rising need for edge data centers in industrial IoT, growing demand for low-latency processing and real-time automated decision-making solutions, and the proliferation of online video streaming.
In addition, the emergence of autonomous vehicles, commercialization of 5G, rising investments by enterprises, telecommunications in edge data centers to speed up various applications, including streaming video and factory automation, and growing awareness regarding the benefits of edge data centers in the medical field/imaging are expected to offer significant opportunities for growth of this market. However, high upfront capital expenditure is restraining the growth of the edge data centers market. Also, the rising data privacy and security concerns are a major challenge to the growth of this market.
Impact of COVID-19 on the Edge Data Centers Market
The COVID-19 pandemic adversely impacted the global economy. Lockdown restrictions and social distancing norms were implemented across several countries, which negatively affected multiple industries, including the edge data center industry. Uncertainty regarding the duration of the lockdowns made it difficult for the key market players to anticipate the recovery of the edge data centers market. Edge data centers providers were under immense pressure due to the COVID-19 pandemic. However, countries worldwide are now shifting their focus from responding to the pandemic to economic recovery, and hence, various growth opportunities are expected to emerge for the players operating in the edge data centers market due to the growing demand for security solutions.
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The increase in remote working during the COVID-19 pandemic led to growth in the use of edge data centers. According to the Cisco Global Cloud Index, the amount of traffic running through cloud computing networks is expected to increase to 14.1 zettabytes per year in 2020, up from 3.9 zettabytes per year (321 exabytes per month) in 2015. With the incorporation of edge data centers, some of the data-transfer load from the cloud can be reduced by processing some of this data closer to the source where it is collected in the first place. Edge data center providers plan to move forward and capitalize on the lucrative market growth opportunities that have resulted from the COVID-19 pandemic. Several leading companies are growing rapidly through strategies such as product launches, product enhancements, partnerships, and collaborations.
The edge data centers market is segmented by component (hardware, software and services), organization size (large enterprises, small & mid-size enterprises), application (smart cities, factory automation, AR/VR, connected healthcare, content delivery, autonomous delivery, and others), and end-user (energy & utilities, transportation & logistics, healthcare, manufacturing, government & defense, retail, automotive, telecommunication, and others), and geography. The study also evaluates industry competitors and analyses the markets at regional and country levels.
Based on component, the edge data centers market is segmented into hardware, software, and services. In 2023, the hardware segment is expected to account for the largest share of the edge data centers market. The large market share of this segment is attributed to the growing demand for IoT deployments across different industry verticals for a variety of applications, the rising need for edge gateways and hyper-converged infrastructure, and the surge in consistent investments from industry players in incorporating edge data solutions in their businesses and product or service offerings. However, the software segment is projected to register the highest CAGR during the forecast period.
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Based on organization size, the edge data centers market is segmented into large enterprises and small & mid-size enterprises. In 2023, the large enterprises segment is expected to account for the largest share of the edge data centers market. The large market share of this segment is attributed to the adoption of advanced technologies such as 5G and IoT that directly impact revenue growth, increasing focus on developing strategic IT initiatives, and consistent deployment of solutions to expand the data center capabilities of organizations. However, the small & mid-size enterprises segment is projected to record the fastest growth rate in the edge data centers market during the forecast period.
Based on application, the edge data centers market is segmented into smart cities, factory automation, AR/VR, connected healthcare, content delivery, autonomous vehicles, and others. In 2023, the smart cities segment is expected to account for the largest share of the edge data centers market. The large market share of this segment is attributed to the growing incorporation of IoT solutions empowering smart city initiatives around the world, increasing proliferation of internet services and broadband speed, specifically in emerging economies, and the need to address issues of safety associated with roadways and other infrastructure. However, the content delivery segment is projected to register the highest CAGR in the edge data centers market during the forecast period.
Based on end user, the edge data centers market is segmented into energy & utilities, transportation & logistics, healthcare, manufacturing, government & defense, retail, automotive, telecommunication, and others. In 2023, the telecommunication segment is expected to account for the largest share of the edge data centers market. The large market share of this segment is attributed to the adoption of edge data centers by telecommunication companies, as edge allows them to take advantage of their geographically distributed infrastructure, made of devices such as gateways, smartphones, and others that have in-built storage and computing power. Growing demand for data services, rise in the number of users generating data traffic, and the surge in adoption of cloud computing and high-density networks. The technological growth of the telecom industry with the emergence of 5G technology and the proliferation of IoT-enabled devices are driving the growth of this segment. However, the healthcare industry segment is projected to register the highest CAGR during the forecast period.
Based on geography, the edge data centers market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the market. The large share of this region is attributed to the presence of several key edge computing technology vendors and the early adoption of new and advanced technologies across multiple end-users. Additionally, many companies in the region are adopting edge data centers to enhance their IT infrastructure and leverage the benefits of new technologies, such as 5G and IoT. The development of innovative concepts, such as autonomous cars, within the region is also expected to propel the growth of the edge data centers market in North America. However, Asia-Pacific is projected to register the highest CAGR during the forecast period.
Some of the major players operating in this market are Cisco Systems, Inc. (U.S.), IBM Corporation (U.S.), Dell Inc. (U.S.), Eaton (Ireland), Fujitsu (Japan), Schneider Electric (France), NVIDIA Corporation (U.S.), Huawei Technologies Co., Ltd. (China), 365 Data Centers (U.S.), COMMSCOPE (U.S.), Vertiv Group Corp. (U.S.), Hewlett Packard Enterprise Development LP (U.S.), Flexential (U.S.), Rittal GmbH & Co. KG (Germany), Vapor IO. (Austria), Servtech, Inc. (U.S.), Zella DC (Australia), VXCHNGE Holdings (U.S.), Zenlayer (U.S.), and DC BLOX (U.S.).
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Scope of the Report:
Edge Data Center Market, by Component
- Hardware
- Software
- Services
- Training and Support Services
- Consulting Services
Edge Data Center Market, by Organization Size
- Large Enterprises
- Small & Mid-size Enterprises
Edge Data Center Market, by Application
- Smart Cities
- Factory Automation
- AR/VR
- Connected Healthcare
- Content Delivery
- Autonomous Delivery
- Other Applications
Edge Data Center Market, by End User
- Energy & Utilities
- Transportation & Logistics
- Healthcare
- Manufacturing
- Government & Defense
- Retail
- Automotive
- Telecommunications
- Other End Users (Agriculture, Mining, and Banking)
Edge Data Center Market, by Geography
- Asia-Pacific
- China
- Japan
- India
- Australia & New Zealand
- Indonesia
- Singapore
- Hong Kong
- Rest of Asia-Pacific
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- UAE
- Israel
- Saudi Arabia
- Rest of Middle East & Africa
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