Global 5G Edge Cloud Network and Services Market Highlights 2022 – 2030
The global 5G edge cloud network and services market is estimated to garner a hefty amount of revenue and grow at a remarkable CAGR over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the growing need to manage mobile devices, applications and communication among enterprises to maintain seamless connectivity across geographies. Along with this, increasing number of smartphones in use is also expected to encourage consumers and businesses to procure 5G technology, which in turn is predicted to drive significant market growth in the upcoming years. In 2019, more than 5.5 billion people in the world used smartphones, which increased up to approximately 6 billion by the end of 2020. By 2025, about 7.2 billion people globally are calculated to be smartphone users. Furthermore, rising demand for advanced 5G applications in autonomous driving, AR/VR, artificial intelligence and internet of things (IoT) is projected to offer ample growth opportunities to the market in the near future.
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The market is segmented by end use industry into transportation, manufacturing, automotive, energy, healthcare, government & defense, and others, out of which, the manufacturing segment is anticipated to hold the largest share in the global 5G edge cloud network and services market. This can be accounted to the escalating usage of IoT sensors across factory floors, and increase in adoption of industrial automation systems in factories. Apart from these, rising implementation of edge computing with smart manufacturing platforms for effectively maintaining high-capacity data centers for storage is also predicted to propel market growth in the future. Additionally, on the basis of enterprise size, the large enterprises segment is assessed to grab the largest share during the forecast period owing to the growing implementation of edge computing and cloud in large businesses to improve operational efficiency.
Major Macro-Economic Indicators Impacting the Market Growth
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
Global 5G Edge Cloud Network and Services Market Regional Synopsis
On the basis of geographical analysis, the global 5G edge cloud network and services market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Europe is estimated to witness noteworthy growth over the forecast period on the back of the growing investments by governments for the deployment of 5G technology in the public sector. It is evaluated that by the end of 2021, there will be approximately 36 million 5G subscriptions in western Europe, and about 3 million subscriptions in the central and eastern Europe. In addition, advancements in 5G technology in the automotive and smart transportation sectors is also expected to drive market growth in the region in the coming years. Moreover, the market in North America is predicted to acquire the largest share during the forecast period ascribing to the early adoption of technology, and strong presence of well-established networking service providers in the region.
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The global 5G edge cloud network and services market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
Market Segmentation
Our in-depth analysis of the global 5G edge cloud network and services market includes the following segments:
By Solution
-
Hardware
- Platforms
- Services
By Enterprise Size
- Large Enterprises
- Small and Medium-Sized Enterprises
By End Use Industry
- Transportation
- Manufacturing
- Automotive
- Energy
- Healthcare
- Government & Defense
- Others
Growth Drivers
- Growing Need to Manage Mobile Devices, Applications and Communication Among Enterprises
- Increasing Number of Smartphones in Use
Challenges
- High Initial Cost of Deploying 5G Edge Cloud Network
Top Featured Companies Dominating the Market
- Hewlett Packard Enterprise Development LP
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Dell Inc.
- IBM Corporation
- Amazon Web Services Inc.
- Cisco Systems, Inc.
- Nokia Corporation
- General Electric Company
- Microsoft Corporation
- Huawei Technologies Co., Ltd.
- Capgemini SE
