NEW YORK, Oct. 15, 2020 /PRNewswire/ -- Due to the increasing over-the-top (OTT) traffic, the global edge data center market is expected to witness massive CAGR of 25.4%, during 2020-2030. At this rate, the revenue generated in the industry will rise from $5.3 billion in 2019 to $53.1 billion by 2030. With the increasing usage of OTT platforms, including Amazon Prime Video, Netflix, and Hulu, and live streaming channels, OTT traffic is rising, according to P&S Intelligence.
This factor is driving the edge data center market, by leading to the increasing consumption of cloud data, for which sufficient storage is being required. For instance, more than 77% of the worldwide internet traffic in 2019 was accounted for by internet protocol (IP) video streaming applications, with this share set to increase to over 83% by 2021. This information is being stored at edge data centers, close to the end user, for better experience and reduced latency.
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Due to the COVID-19 pandemic, though the demand for such infrastructure is rising, on account of the growing trend of working from home, the edge data center market is still witnessing a recession. This is because of the almost no availability of laborers to construct these settings, on account of the complete lockdown implemented in several countries. But in the long run, the pandemic is expected to have a positive impact on the market, as it is making people stay home and consume digital content, the demand for which will only increase in the coming years.
In the years to come, the services bifurcation, on the basis of component, is predicted to witness the faster edge data center market growth, at a CAGR of 28.1%. With the rapid adoption of edge data center solutions by organizations, the requirement for installation, integration, consulting, and managed services will rise sharply.
Browse report overview with detailed COVID-19 impact analysis 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 @ https://www.psmarketresearch.com/market-analysis/edge-data-center-market-analysis
North America is presently the largest contributor to the edge data center market, due to the increasing data traffic, rapid deployment of 5G, and government initiatives in support of edge data centers. In the future, Asia-Pacific (APAC) will advance the fastest in the industry, as the adoption of internet of things (IoT) and digitization rate are increasing here. Moreover, government smart city initiatives and the rising penetration of the internet are further expected to drive the regional market.
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Among the largest players in the global edge data center market are EdgeConneX Inc., 365 Operating LLC, Eaton Corporation Inc., Huawei Technologies Co. Ltd., Fujitsu Ltd., Microsoft Corporation, Hitachi Vantara LLC, Hewlett Packard Enterprise Company, Panduit Corporation, International Business Machines (IBM) Corporation, Vapor IO Inc., Schneider Electric SE, Vxchnge Holdings LLC, and Vertiv Holdings Co.
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