Europe Edge Computing Market
The Europe edge computing market is expected to reach a value of USD 1.94 Bn by 2023, expanding at a CAGR of 29.3%. 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 the activities of 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 centres that store, and process data locally, before sending them to center or cloud. It optimizes the computing to avoid disruptions in sending and receiving data.
The Europe edge computing market is further classified based on applications and end users. By 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 European smart cities model is unparalleled; it is denser and much sustainable. More than 240 European, with population above 100,000 are progressing toward smart city program.
Based on end users industries edge computing networks arew 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. The region is leading in 5G deployment. The telecom operators in this region along with US are expected to spend USD 185 Bn by 2026. The region is expected to have 214 Mn 5G connections by 2025. By 2020, around 76% of the population is expected to have smartphone connections.
By regions, the market is divided into the EU5, and the rest of EU5. The EU5 would secure the highest market share because countries like the U.K., and France are progressing swiftly with smart and connected devices. The region will therefore progress swiftly with the implementation of edge computing.
Key growth factors
Europe is progressing toward digital industrialization. Around 91% of European corporates are investing for the digitization of factory plants in the core of Europe. 47% of English citizens believe that smart home technology would have a positive impact on their lives in the next few years.
The U.K. is expected to gain EUR 4.8 Bn from the use of IOT in the healthcare sector. These factors are expected to drive edge computing applications in the region.
Threats and key players
The crucial challenges faced by this region is the lack of technical skills. Edge computing is expected to face deployment problems, i.e. challenges is optimizing spectrum usage.
The key players in the Europe edge computing market are Cisco Systems, Inc, Microsoft Corporation, IBM, Google, and Amazon
What’s covered in the report?
1. Overview of the Europe edge computing market.
2. The current and forecasted regional (EU5 and rest EU5) market size data for the Europe edge computing market, based on applications: smart cities smart factories, connected healthcare, connected vehicles, smart grids, and others, based on end users industries: manufacturing, energy and utility, IT and telecommunication, healthcare and life science, consumer appliance, transportation and logistics.
3. Market trends in the Europe edge computing market.
4. Market drivers and challenges for the Europe edge computing market.
5. Analysis of company profiles of major players operating in the market.
1. Understand the demand of Europe edge computing market by application and end user industries to determine the viability of the business.
3. Formulate a product market strategy – based on the position in the value chain and determine the optimal product/service placement.
4. Identify the gap areas and address them.
5. Develop strategies based on the industry and economic factors for each of the segments.
6. Define the competitive positioning by comparing the products and services compared with the key players in the market.