Press release
Rising Mobile Data Traffic To Boost Edge Data Center Market Growth
One of the prime factors improving the edge data center market prospects is the increasing mobile data traffic across the world, due to the surging adoption of IoT devices and smartphones. To manage the data, edge data centers are required in a large number. For instance, according to a report, in 2019, worldwide mobile data traffic stood at 26.8 exabytes per month, which is expected to reach 77.5 exabytes per month by 2022.
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Moreover, the rising OTT traffic across the globe is another key driving factor that boosts the edge data center market. This is attributed to the rapid shift toward online content and surging demand for OTT services. Thus, the requirement for edge data centers is rising, to manage the increasing amount of data. For instance, the global multimedia streaming, internet protocol (IP) video, and gaming data traffic stood at 75% of all internet traffic in 2019, which is projected to reach 81% by 2021.
The component segment of the edge data center market is categorized into solutions and services. Between the two, the solutions category accounted for the major market share in 2019, owing to the increasing deployment of edge data centers worldwide and rising investments in research and development (R&D) for advanced technologies, to manage high amounts of data. On the other hand, the services category is projected to record the faster growth during the forecast period, owing to the rising demand for consulting, installation, integration, and managed services
Additionally, the application segment is classified into banking, financial services, & insurance (BFSI); retail; healthcare; logistics & transportation; information technology (IT) & telecom; government; and others. Among these, the BFSI category is expected to witness the fastest growth during the forecast period, due to the rising focus of financial institutions on a robust IT infrastructure, expansion of digital services, and strong need to secure consumer data. The IT & telecom category accounted for the largest market share in 2019, owing to the increasing need for efficient IT services and surging IT spending.
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Geographically, North America holds the largest revenue share in the edge data center market. This is due to the increasing data traffic, surging government initiatives for the installation of data centers, commercialization of 5G, and heavy investments in data centers by major players, such as Google LLC, Microsoft Corporation, Hewlett Packard Enterprise Company, and IBM Corporation. During the forecast period, Asia-Pacific (APAC) is projected to grow the fastest in the market, owing to the increasing internet penetration, consumer shift toward OTT content, rapid digitization, and surging adoption of IoT devices.
Thus, the increasing mobile data traffic and rising OTT traffic across the globe are expected to propel the demand for edge data centers during the forecast period.
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