North America Edge Computing Market 2021 Research Report by Trends, Growth Drivers, Size, Share, Opportunities, Challenges, Risks and Influences Factors Analysis & Forecast to 2023

New York, United States, Fri, 08 Jan 2021 05:48:52 / Comserve Inc. / -- Most North American service providers are moving towards the commercial launch of 5G. Based on regions, the market is divided into the United States and Canada

Market Synopsis

The North America Edge Computing Market is estimated to record a significant growth throughout the forecast period. The ICT sector constitutes 4.8% of the European economy. Europe's organization ERDF i.e. European Regional Development Fund has allotted approximately USD 23 billion for investments related to ICT during the funding period 2014-2020. ICT refers to the communication technologies including the internet, wireless networks, social networking, cell phones, video-conferencing, computers, software, and other media applications and services enabling users to access, retrieve, and manipulate information in a digital form.

The North America edge computing market is expected to reach USD 2.43 Bn by 2023, expanding at a CAGR of 28.7%. Edge computing brings data processing nearer to IoT sensors to decrease latency and improve efficiency. The internet of things is driven by huge volumes of data generated from activities in our day-to-day lives. Collecting, sending, and processing massive quantities of data requires companies to act intelligently, quickly, and make better business decisions. Edge computing is a network of data centers that store and process data locally before sending them to centers or cloud. It optimizes computing to avoid disruptions in sending and receiving data.

The North America edge market is classified into applications and end users. Based on applications, it is further sub-classified into smart cities, smart factories, connected healthcare, connected vehicles, smart grids, and others. Other applications include edge computing in gaming and e-commerce. Smart cities holds the largest market share. The concept of smart cities is expanding in the US. New York City and Boston city are among the leading smart city initiatives in this region. 

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Based on end users industries, edge computing network are used in the manufacturing sector, energy and utility sector, IT and telecommunication, healthcare and life sciences, and consumer appliances. The IT and telecommunication sector is expected to grab the largest market share and grow at the highest CAGR. The region is leading in 5G deployments. Most North American service providers are moving towards the commercial launch of 5G. Based on regions, the market is divided into the United States and Canada. The U.S. would secure the highest market because it has leveraged the utilisation of digital infrastructure. This emerging technology has gained transaction owing to the limitation of cloud-based analytics systems

Key growth factors

The internet of things is trending in North America. With more IoT devices getting connected, the region's market has seen broader adoption of edge computing solutions across all the verticals. The presence of connectivity networks will act as a driving factor to facilitate the adoption of edge computing. The average number of digital devices available to the citizen is increasing exponentially. People are better connected with enhanced access to brand and content. The gaming and e-commerce markets are booming in this region. This would widen the opportunity of edge computing. 

Threats and key players

The crucial challenges faced by this region is lack of skill, understanding, problem with standardisation and implementation of the network. This emerging technology is facing the problem of deployment, i.e. challenging to optimise spectrum usage.

The key players in the North America edge computing market are Cisco Systems, Inc, Microsoft Corporation, IBM, Google, and Amazon.

What's covered in the report?

1. Overview of the North America edge computing market.
2. The current and forecasted regional (United States and Canada) market size data for the North America edge computing market, based on applications: smart cities, smart factories, connected healthcare, connected vehicles, smart grids, and other; based on end users industries: manufacturing, energy and utility, IT and telecommunication, healthcare and life sciences, consumer appliances, transportation and logistics.
3. Market trends in the North America edge computing market.
4. Market drivers and challenges in the North America edge computing market.
5. Analysis of company profiles of major players operating in the market.

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