Westford, USA, Sept. 24, 2024 (GLOBE NEWSWIRE) — In recent times, the popularity for edge data centers is growing exponentially as many sectors are adopting growing technologies like internet of things, big data, artificial intelligence, cloud streaming services, and 5G. These technologies can generate massive volume of data in the network, developing new performance and computing demands for data centers. This is leading to the increasing demand for edge data center solutions and services. Furthermore, the growing requirement of reduced operating expenses, real-time data analysis, minimized network traffic, enhanced application performance, and business flexibility is also propelling the market growth.
Awareness is also increasing among companies about the advantages of edge computing services along with rising pressure to offer better security and IT settings, and the implementation of local data centers are also contributing to the growth of the technology. Moreover, the rising popularity of OTT platforms and e-commerce has given growth to the use of edge data centers. To offer a better user experience, OTT services like Netflix, Disney+, and Amazon Prime depends on fast and dependable content delivery, positively influencing the growth of edge data center market. Edge data centers have the potential to offer localized processing and storage resources that reduces latency and augments performance, making sure consumers have a smooth streaming experience.
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Edge Data Center Market Overview:���
| Report Coverage��� | Details��� |
| Market Revenue in 2023��� | $ 8.91 Billion��� |
| Estimated Value by 2031��� | $ 27.22 Billion��� |
| Growth Rate��� | Poised to grow at a CAGR of 14.98 %��� |
| Forecast Period��� | 2024-2031��� |
| Forecast Units��� | Value (USD Billion) |
| Report Coverage��� | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends��� |
| Segments Covered��� | Component, Facility Size, Vertical, and Region |
| Geographies Covered��� | North America, Europe, Asia-Pacific, and the Rest of the world��� |
| Report Highlights��� | Increasing shift towards decentralized computing |
| Key Market Opportunities��� | High focus on data privacy and security to mitigate cyber risks |
| Key Market Drivers��� | Growing focus on edge and cloud collaboration for faster response time |
Growing Amount of Data to Increase Demand for Real-Time Data Processing and Low Latency to Drive Market
The explosion of IoT devices and the rising adoption of real-time applications are driving the growth of the edge data center market. As organizations are incorporating more IoT devices into their function, the amount of data generated at the edge of network increases massively. This increasing data requires instant processing so that maximum value can be extracted, especially in time-sensitive applications in sectors like medical care, automotive, and manufacturing. The edge data centers also have the potential to meet this requirement by processing data locally and minimizing latency that can happen when data is transformed to the centralized data centers. This localized processing is vital for applications such as autonomous driving and telemedicine, where every second counts. These are positively influencing the growth of the edge data center market.
Increasing Digitalization to Drive Edge Data Center Market to Manage and Store Data Securely
Robust data management structure has become more vital than ever before because digital transformation is becoming a strategic requirement for organizations in various sectors. Digital tools and platforms are being utilized by many industrial sectors like medical care for telemedicine, digital health records, and remote patient monitoring. This requires fast and dependable data services. Furthermore, the retail sector is also utilizing digital platforms for inventory tracking, customer data management, and e-commerce. This is boosting the popularity of edge data centers for managing and storing data efficiently. The manufacturing industry is also adopting Industry 4.0 procedures and increasing the penetration of automated technologies and connected gadgets. These devices can generate huge volumes of data, positively influencing the growth of edge data center market.
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High Use of 5G Network to Increase Adoption for Improving Latency will Drive North American Market
North America is leading the edge data center market with the highest market share. This is mainly owing to increasing adoption of edge data center solutions are services in the region. Furthermore, North America has many major edge data center solutions and service providers who are further pushing the growth of the market. The region is also experiencing massive growth due to the rising commercialization and use of 5G networks. The increasing embracement of edge data centers to serve technologies like 5G, IoT, and AI, which needs low latency with high bandwidth connections to propel the market growth in North America. Edge data centers could reduce latency by directly bringing data processing and storage resources to end users, significantly driving application and service performance.
Edge Data Center Market Insights
Drivers
- Increasing use of IoT devices to generate massive amount of data
- High demand of big data and data analytics
- Shift towards decentralized computing to reduce reliance on centralized data centers
- Increasing adoption of AI and ML increasing demand for real-time processing
Restraints
- High security concerns to restraint market growth
- Lack of skilled workforce management
- High capital investment for setting up data centers
- Growing energy costs to increase operational expenses
Key Players Operating in Edge Data Center Market
The following are the Top Edge Data Center Companies
- Dell (US)
- Eaton (Ireland)
- IBM (US)
- NVIDIA (US)
- Schneider Electric (France)
- Fujitsu (Japan)
- HPE (US)
- Cisco (US)
- Huawei (China)
- 365 Data Centers (US)
- Rittal (Germany)
- Panduit (US)
- Equinix (US)
- Sunbird (US)
- Vertiv Group (US)
Key Questions Answered in Edge Data Center Market Report
- Which region is expected to hold the largest market share?
- Which are the key factors driving the market growth?
- Who are the top players in the edge data center market?
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This report provides the following insights:���
- Analysis of key drivers (Increasing technological advancement, rise of big data and analytics, and expansion of 5G technology), restraints (Lack of standardized hardware and software and growing security concerns), opportunities (Move towards decentralized computing, high adoption of AI and ML, and high security concerns), and challenges (Lack of skilled workforce management, increasing cost of energy, and high prevalence of cyberattacks) influencing the growth of edge data center market��
- Market Penetration: Comprehensive information on the product offered by the top players in the edge data center market���
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the edge data center market���
- Market Development: Comprehensive information on emerging regions���
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market���
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.���
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COMTEX_458110157/2471/2024-09-24T08:00:14