New York City, NY -- (SBWIRE) -- 09/03/2020 -- As per a study conducted by P&S Intelligence, the global edge data center market is projected to generate a revenue of $53.1 billion by 2030, advancing at a 25.4% CAGR during the time period 2020–2030. The market is registering growth due to the increasing over-the-top and mobile data traffic, surging penetration of internet of things (IoT), and rapid 5G proliferation. On the basis of application, the IT & telecom division accounted for the largest share of the market in 2019.
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This is because of the rising IT spending across the globe and increasing requirement for efficient IT services. Other than this, the banking, financial services, & insurance division is predicted to progress at the fastest pace in the years to come. This can be attributed to the rising focus of financial institutions on expanding their offerings of digital services, including digital trade management, digital transactions, and online banking, and the growing need for processing and storing customers' data securely.
The objective of this research includes;
Historical and the present size of the edge data center market
Future potential of the market through its forecast for the period 2020– 2030
Historical and the present size of the market segments and understand their comparative future potential
Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
Major players operating in the market and their service offerings
Recent strategic developments by the major players in the market
When the geographical scenario is considered, North America dominated the edge data center market in 2019, which is because of the increasing government financial incentives for establishing data centers, 5G commercialization, and surging data traffic. Apart from this, the Asia-Pacific (APAC) region is expected to witness the highest CAGR in the coming years. This is ascribed to the swift digitization, increasing penetration of internet, government initiatives, and rising adoption of IoT in the region. The development of smart cities will further increase the adoption of IoT, thereby leading to the growth of the market in APAC.
Browse report overview with detailed TOC on "Edge Data Center Market Research Report: By Component (Solutions, Services), Organization (Large Enterprises, SMEs), Application (Retail, BFSI, Logistics & Transportation, Healthcare, Government, IT & Telecom) - Global Industry Analysis and Growth Forecast to 2030" at:https://www.psmarketresearch.com/market-analysis/edge-data-center-market-analysis
Some of the major players operating in the edge data center market are EdgeConneX Inc., 365 Operating LLC, Huawei Technologies Co. Ltd., Microsoft Corporation, Eaton Corporation, Fujitsu Ltd., Hitachi Vantara, Hewlett Packard Enterprise Company, Panduit Corporation, IBM Corporation, Vapor IO Inc., Schneider Electric SE, and Vertiv Holdings LLC.
The research includes detailed analysis of;
Based on Component
- Solutions
Cooling
Power and uninterruptible power supply (UPS)
IT racks & enclosure
Networking equipment
Storage
Data center infrastructure management (DCIM)
- Services
Installation & integration
Managed
Consulting
Based on Organization
- Large Enterprises
- Small & Medium Enterprises (SMEs)
Based on Application
- Retail
- Banking, financial services, and insurance (BFSI)
- Logistics & Transportation
- Healthcare
- Government
- IT & Telecom
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