Global edge data center market is predicted to surpass USD 13 billion by 2024, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2024.
As per the report, global edge data center market size is primarily driven by the burgeoning growth in amounts of data generated and consequent rise in data load. Rapid consumption of cloud services is increasing the congestion in the cloud infrastructure, which has prompted enterprises to resort to edge data centers. They render various effective solutions which facilitate storage, processing, and access of organizational data and speed up response time. Anticipating the demand for edge data centers, vendors in the marketspace are rolling out effective solutions and services, which is further likely to propel edge data center market outlook.
Edge data center market growth in the BFSI sector is being purveyed by the digital wave in the industry. The switch to digital processes has presented a plethora of data processing and storage challenges to various financial institutions. And given the sensitive nature of the data the industry handles, reliable data storage solutions are uncompromising. Besides, rising incidence rate of cyberthreats have compelled participants in the BFSI industry to invest in edge data center.
The report cites that based on the component spectrum; the networking equipment segment is dominating edge data center market. Networking equipment help to provide networking and connectivity to electrical devices. Organizations are increasingly installing networking equipment within their facilities to store, manage, and access data from a centralized computing environment, which is pushing edge data center market further.
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Speaking of the regional landscape, Asia Pacific edge data center market outlook is exhibiting noteworthy expansion. The region is amidst vigorous industrialization and is embracing automation, encouraged by government support. Such advances in industrial segments has led to the generation of massive amounts of data, which is supporting the case for edge data center market trends. In addition, countries such as Chin and Japan are vying for gaining precedence in 5G technology, which is further triggering growth in the region.
Major players participating in the edge data center market are Rittal GmbH & Co. KG, Huawei Technologies Co., Ltd., Hewlett-Packard Enterprise Company, Eaton Corporation, IBM Corporation, Hitachi Vantara, Vertiv, Co., Panduit Corporation, Flexential Corporation, 365 Operating Company LLC, vXchnge Holdings, LLC, EdgeConneX, Inc., and Vapor IO, Inc. among others. The companies in the edge data center market are offering several advanced solutions and services to various industrial sectors. For instance, Rittal GmbH & Co. KG provides Secure Edge Data Center (SEDC), a complete plug & play facility, to sectors such as IT & telecom and energy.