SELBYVILLE, Del., Oct. 6, 2020 /PRNewswire/ -- According to the latest report "Edge Data Center Market by Component (Solution [Cooling, Power, IT Racks & Enclosures, Networking Equipment, DCIM] Service [Installation & Integration, Managed, Consulting]), Data Center Size (Micro Data Centers, Hyperscale/Enterprise Data Center), Application (BFSI, Colocation, Energy, Government, Healthcare, Manufacturing, IT & Telecom), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026", by Global Market Insights, Inc., the market valuation of edge data centers will cross $20 billion by 2026. The rollout of 5G technology in several countries along with the trend of autonomous vehicles and smart cities will drive demand for efficient data centers.
IT rack & enclosure solutions in the edge data center market are anticipated to showcase a significant growth rate during the forecast timeframe due to the availability for a wide range of racks that enable optimum functioning of IT equipment. Players are manufacturing racks with a range of frame sizes and designs suitable for explicit end-user requirements. The majority of the IT applications employ 19-inch racks and follow a standard set by the Electronics Industry Alliance (EIA) and maintained by the Electronic Components Industry Association (ECIA). Edge data center operators are increasingly investing in innovative racks & enclosures to safeguard the equipment and protect sensitive data.
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The edge data center market will witness high growth with the developing IT & telecom sector in several economies globally. The rollout of 5G in the U.S. and Europe will stress the need for efficient data storage solutions. The 5G networks pose a high demand for data availability and storage that is encouraging telecommunication companies to adopt edge data centers to cater to the growing data processing requirements. Edge computing enables faster data analysis, in turn, ensuring faster response times and improved customer experiences. As the unprecedented scale and complexity of data created by connected devices have outpaced traditional network and infrastructure capabilities.
Growing industrialization in the Middle East & Africa coupled with the advent of digitalization will offer growth opportunities to the edge data center market. Government initiatives, such as Abu Dhabi Economic Vision 2030 and UAE Vision 2021, are directed toward building modern economies and establishing a globally integrated business environment. An increasing number of businesses adopting advanced digital techniques will surge the demand for edge data center infrastructures for efficient data storage and processing. Colocation providers, such as Digital Realty and Equinix Inc., have expanded their data center footprint in the Middle East & Africa. The expanding data center industry in the region will support the adoption of edge data centers for fast deployment of highly distributed and latency-sensitive workloads.
Major companies operating in the edge data center market include Eaton Corporation, EdgeConnex Inc., Fujitsu Ltd., Hewlett Packard Enterprise Company, Huawei Technologies Co. Ltd., IBM Corporation, Panduit Corporation, Rittal GmbH & Co. Kg., Schneider Electric SE, and Vertiv Co.
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Some major findings of the edge data center market report are:
- Several IT trends including Content Distribution Networks (CDN) and IoT are fueling the need to reduce telecommunications latency and bandwidth costs. Distributing data centers closer to the points of utilization reduces the latency and costs from the cloud or other remote data centers.
- Fast deployment, scalability, and reliability offered by edge data center infrastructure boost the industry growth. As the demands on networks grow, the need for simplicity, scale, and agility becomes essential among data center operators. Edge data centers offer benefits of scalability and reduce the risk of data center downtime, enabling enterprises to have fast deployment time, simplify management, and lower maintenance & capital costs.
- The growing demand for efficient data centers from compute-intensive applications, such as AI and IoT, will propel the edge data center market revenue. Telecom operators will shift to edge computing for improving network latency and coverage.
- With the emergence of various new digital service types, such as autonomous vehicles, AR/VR, machine learning, and big data analytics, the traditional network structure is gradually becoming overburdened. Multi-access Edge Computing (MEC) is emerging as a tool that enables network services to remain closer to users.
- The developing internet infrastructure in several regions including Asia Pacific, North America, and Europe will provide growth opportunities to the edge data center industry. The rise in the number of connected devices resulting in surging amounts of digital data will influence the demand for edge data centers that ensure fast processing speeds.
Table of Contents (ToC) of the report:
Chapter 3 Edge Data Center Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 - 2026
3.3 Impact of coronavirus (COVID-19) pandemic
3.3.1 Global outlook
3.3.2 Regional impact
3.3.3 Industry value chain
3.3.4 Competitive landscape
3.4 Industry ecosystem analysis
3.4.1 Distribution channel analysis
3.4.2 Vendor matrix
3.5 Technology & innovation landscape
3.5.1 Network Function Virtualization (NFV)
3.5.2 Software Defined Networking (SDN)
3.5.3 Edge computing
3.5.4 Impact of IoT
3.6 Regulatory landscape
3.7 Impact forces
3.7.1 Growth drivers
3.7.2 Industry pitfalls and challenges
3.8 Growth potential analysis
3.9 Porter's analysis
3.10 PESTEL analysis
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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Global Edge Data Center Market growth predicted at over 23% through 2026: GMI
The growing demand for efficient data centers from compute-intensive applications, such as AI and IoT, will propel the edge data center market revenue.
SOURCE Global Market Insights, Inc.