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Market Analysis:
Edge Data Center Market Eyeing Remarkable Growth due to Increasing Demand in Automotive and Manufacturing. The global edge data center market will touch USD 31.951 billion at a 17.30% CAGR by 2032, as per the recent Market Research Future report.
Key Players:
Eminent market players profiled in the global edge data center market report include
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Market Segmentation:
The global edge data center market is bifurcated based on vertical, organization size, service, and components.
Based on components, hardware will lead the market over the forecast period.
By service, professional service will domineer the market over the forecast period.
By organization size, medium enterprises will spearhead the market over the forecast period.
By vertical, IT and telecommunication will spur the market over the forecast period.
Market Scope:
|
Report Metrics |
Details |
|
Market Size by 2032 |
USD 31.951 Billion |
|
CAGR during 2023-2032 |
17.30% |
|
Base Year |
2022 |
|
Forecast |
2023-2032 |
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Drivers:
Growing Adoption in IoT Sector to Boost Market Growth:
Businesses are increasingly depending on centralized cloud computing & storage solutions to handle their data as a result of the proliferation of IoT. The IoT business is also anticipated to grow quickly in the upcoming years. Concerns concerning latency and cost arise when the IT infrastructure in its entirety is migrated to the cloud. Businesses using actuators, IoT sensors, & other IoT devices are therefore quickly embracing edge computing solutions including edge devices, nodes, and hyper-localized data centers. By fusing data processing with data source, edge computing incorporates thorough cloud architecture and enables organizations to take prompt, well-informed choices.
Opportunities:
Increasing Demand in Automotive and Manufacturing to offer Robust Opportunities:
The adoption of technologies like 5G & edge computing will propel fast growth in the industrial and automotive industries. These technologies meet the industry’s demand for mobile apps with low latency, high bandwidth, and security. These sectors are being transformed by edge data centers because they enable real-time analysis & control, lower mistakes, increase efficiency, and ensure safety.
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Restraints and Challenges:
High Maintenance Cost to act as Market Restraint:
High maintenance cost, increase in data privacy & security concerns, and high upfront capital expenditure may act as market restraints over the forecast period.
COVID-19 Analysis:
The COVID-19 epidemic had a positive effect on the market for edge data centers. The development of the data centre sector has been aided by rising corporate awareness of the advantages of the edge computing services, mounting demand to deliver more secure and reliable IT environments, and the emergence of regional data centers across the country. In addition, the use of edge data centers has been encouraged by the rising popularity of the over-the-top platforms & e-commerce. OTT services like Netflix, Disney+, & Amazon Prime depend on quick and dependable video delivery to give their users the best possible experience.
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Regional Analysis:
North America to Head Edge Data Center Market:
The North American edge data centre market area will dominate this market. The region’s remarkable market share is attributable to the presence of numerous significant edge computing technology suppliers in this region as well as the quick adoption of the cutting-edge technologies via a range of end users. In addition, a lot of companies in the region are setting up edge data centers to upgrade their IT infrastructure & benefit from cutting-edge developments like 5G and IoT. The development of the edge data centers market in North America is also projected to be fueled by the region’s work on the cutting-edge concepts like autonomous cars.
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