Global demand for 5G edge cloud network and services is expected to reach a market value of US$ 5.41 billion by the end of the year 2023, accelerating at a CAGR of 15% over the forecast period (2023 to 2033). Several factors will contribute to the growth of 5G edge cloud networks and services in the next few years, including the increasing demand for low latency and natural computation. In addition, computers are becoming increasingly popular across industries, data management platforms, and system connectivity are becoming increasingly important, and the Internet of Things is becoming more prevalent.
The market is supported by:
The market for 5G edge cloud networks and services is growing rapidly in industries such as automotive, manufacturing, transportation, energy, agriculture, public safety, and healthcare. To stay relevant, reduce operational costs, and improved customer service, supermarkets, e-commerce sites, and chain stores all face tremendous pressure. Retailers with thin margins and limited inventory management efficiencies can greatly benefit from 5G edge cloud networks combined with IoT sensors and machine learning.
A 5G edge cloud network coupled with IoT can transform the retail experience in all areas, including digital signage, route analysis, location-based marketing, collaborative robots, and personal concierge services. There is also a strong expectation that the market will be characterized by a lot of potential growth opportunities in the coming years due to the increased use of 5G technologies in industries such as autonomous vehicles, virtual reality, artificial intelligence, and the internet of things (IoT).
With smart 5G edge cloud networks, business processes can be dramatically enhanced through performance and flexibility. Additionally, these new capabilities can help to accelerate existing transformation initiatives and build new ones, depending on the creativity of the organization and its ability to incorporate change. As the edge cloud standards for 5G are expected to undergo significant improvements in the coming months, businesses will focus on laying the groundwork in advance of the launches. Developing technology partnerships may be beneficial for existing and new technology partnerships to provide organizations with the skills their businesses require.
Modern, open, cloud-enabled networks are available from communications service providers (CSPs) in conjunction with the introduction of 5G networks and the ongoing evolution of edge computing. As telecom operators become more integrated into the business value chain, their role in digital transformation becomes increasingly important. Many businesses recognize opportunities for growth and development through digital transformation, which can revolutionize the way businesses operate.
Despite a slow start, 5G edge cloud network and service sales are expected to grow steadily across North America. The United States and Canada are expected to see the most demand for 5G edge cloud networks and services, followed by China and India. With the widespread availability of IT infrastructure and the deployment of 5G edge cloud services and networks, demand is expected to increase in the near future. With the development of autonomous vehicles and the research and development of 5G networks, the need for 5G edge cloud services and networks is expected to increase in these regions.
Considering that the use of smartphones has grown more widely throughout the world, the demand for wireless communications and networking products continues to rise, and the number of subscribers is continually increasing, it is predicted that the market will grow in the future.
| Data Points | Key Statistics |
|---|---|
| Estimated Base Year Value (2022) | US$ 5 billion |
| Expected Market Value (2023) | US$ 5.41 billion |
| Anticipated Forecast Value (2033) | US$ 22 billion |
| Projected Growth Rate (2023 to 2033) | 15% CAGR |
5G technology and edge cloud computing are two inseparably linked technologies. 5G edge cloud network and services are poised to considerably enhance performance of enterprise and consumer grade applications and accommodate real time processing of huge volumes of data.
5G technology has the potential to increase networking speeds by ten times than the speeds offered by 4G technology. Mobile edge networking and computing helps reduce latency by accommodating computing capabilities into networks, and bringing features closer to end-users.
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With technological advancements, enterprises are finding themselves in a highly complex networking marketplace. As tides of data continue to rise, enterprises are looking to transform using virtualization and automation features to enhance the scale and economic feasibility of experiences that they wish to create.
Enterprises must manage their mobile devices, applications, and communication and collaboration platforms in order to maintain connectivity across geographies, teams and departments.
Significant rise in number of smartphones in use across the globe will encourage enterprise and consumers to procure 5G technology services. Some lucrative 5G-enabled use cases include ultra-HD video, autonomous driving, Virtual Reality (VR), Augmented Reality (AR), and Artificial Intelligence (AI).
The high demand for advanced 5G applications and Internet of Things (IoT), among other technical enhancements, are estimated to propel the procurement of 5G edge cloud network and services during the forecast period.
Wireless networking market has recorded noteworthy growth over the past years with introduction of wireless mobility enabled smart devices. Continuous rise in subscribers and new use cases of wireless networking and communication technologies is creating opportunities for growth of the global 5G edge cloud network and services market.
5G edge cloud network and services market in North America is leading all other regional markets on a global level. This dominance may be owed to high presence of well-established networking solutions and service providers in the region. These vendors are continuously investing in research and development of 5G technology.
The market is Europe is estimated to record one of the strongest growth rates during the forecast period. Investments made by national government to complement the deployment of 5G technology for applications in public sectors is propelling the adoption of 5G edge cloud network and services in Europe.
Advancements in 5G technology for automotive and smart transportation are playing a key role in propelling the adoption of 5G edge cloud network and services in European economies.
Principal Consultant
Some of the key vendors in the global 5G edge cloud network and services market are
The 5G Edge Cloud Network and Services market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The market report also maps the qualitative impact of various market factors on market segments and geographies.
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The 5G edge cloud network and services market can been segmented on the basis of solution.
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5G Edge Cloud Network and Services Market
