5G Edge Cloud Network and Services: Introduction
- In recent years, there has been concerted effort by all industry players to move their organizations to a centralized cloud empowered by virtualization. This effort advanced the vision of reducing time to market to achieve minimum total cost of ownership (TCO). The massive demand for cloud computing has led providers such as Google Inc. and Amazon Web Services (AWS) to build huge centralized clouds that are specifically designed for maximum efficiency.
- The 5G edge cloud network and services market is anticipated to grow significantly in the coming years. The growth of the market can be attributed to several factors such as rising demand for real-time and low-latency processing, automated decision-making solutions, growing adoption of IoT (Internet of Things) across sectors, and a requirement to deal with the rapidly increasing network traffic and data volumes.
- Data is progressively being produced at the user’s end with the advent of new and advanced technologies including autonomous cars, drones, augmented and virtual reality (AR/VR), and IoT with smart cities. These use cases highly demand real-time communication and processing between circulated endpoints. The points are expected to create the need for efficient management at the network edge.
- Furthermore, the need for lightweight systems & frameworks and the rise of connected car infrastructure & autonomous vehicles to augment the productivity of 5G edge computing solutions is anticipated to generate wide range of opportunities for edge computing vendors.
Global 5G Edge Cloud Network and Services Market: Dynamics
Global 5G Edge Cloud Network and Services Market: Key Drivers
- Substantial increase in number of smartphones across the globe is expected to encourage consumers and enterprises to procure 5G technology services. This procurement of 5G technology is anticipated to drive the market over the coming years.
- Increasing usage of wireless communication & networking technologies and continuous increase in number of subscribers is projected to create opportunities for growth of the 5G edge cloud network and services market.
- 5G technology innovation has the potential to enhance networking speed by approximately 10 times compared to the speed of 4G technology.
- Some profitable 5G-enabled use cases include autonomous driving, Artificial Intelligence (AI), ultra-HD video, Augmented Reality (AR), and Virtual Reality (VR). Increasing demand for Internet of Things (IoT) and advanced 5G applications, among other advancements, are expected to drive the 5G edge cloud network and services market over the coming years.
- However, the 5G edge cloud network and services market faces several challenges that include large capital expenditure (CAPEX) and high initial cost of deployment. These factors might hinder the market across the globe.
Impact of COVID-19 on the Global 5G Edge Cloud Network and Services Market
The outbreak of COVID-19 has accelerated the growth of 5G edge cloud network and services owing to increasing demand for real-time and low-latency processing and programmed decision-making solutions. During this pandemic, associated data and edge computing centers are playing an important role for enterprises. Network-enabled technologies such as edge computing, IoT, and 5G technology are working to reduce operational risks related to COVID-19 and meet consumer expectations.
North America to account for Major Share of the Global 5G Edge Cloud Network and Services Market
- In terms of region, the global 5G edge cloud network and services market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- North America is anticipated to dominate the 5G edge cloud network and services market due to strong presence of well-established networking solutions and service providers. These service providers are actively investing in research and development (R&D) of 5G technology.
- The market in Europe is projected to showcase highest growth rate during the forecasted timeframe. Technological advancements in 5G technology for smart transportation and automotive sector plays a significant role in boosting the implementation of 5G edge cloud network and services in European countries.
Global 5G Edge Cloud Network and Services Market: Competition Landscape
- Several local, regional, and global players are active in the 5G edge cloud network and services market with a strong presence. Industry participants engaged in the market have been focusing on inorganic development strategies that involve collaboration, mergers, partnerships, and acquisition of smaller firms to enhance their service portfolios and gain a major share of the market. Moreover, players in the market are constantly engaged in research & development activities to develop new products that will fulfill the requirements of customers and retain their customer base.
Key players operating in the global 5G Edge cloud network and services market include:
- Hewlett Packard Enterprise Development LP
- Huawei Technologies Co. Ltd.
- Dell Inc.
- IBM Corporation
- Amazon Web Services Inc.
- FogHorn Systems
- Capgemini Engineering
- GE Digital
- Litmus Automation
- Saguna Networks
- Sierra Wireless
- Digi International
- Juniper Networks
- Edge Intelligence
Global 5G Edge Cloud Network and Services Market: Research Scope
Global 5G Edge Cloud Network and Services Market, by Solution
Global 5G Edge Cloud Network and Services Market, by Organization Size
- Large Enterprises
- Small and Medium-sized Enterprises (SMEs)
Global 5G Edge Cloud Network and Services Market, by Industry Verticals
- Transportation and Logistics
- Energy and Utilities
- Retail & Consumer Goods
- Media and Entertainment
- Healthcare & Life Science
- Government & Defense
Global 5G Edge Cloud Network and Services Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.