5G Edge Cloud Network and Services Market Growth, Trends And Forecast 2031

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.

5G Edge Cloud Network and Services: Market Dynamics

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.

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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.

Impact of COVID-19 Pandemic Outbreak on 5G Edge Cloud Network and Services Market

During the ongoing COVID-19 pandemic, edge computing and associated data centers are playing a crucial role for enterprises. Network-enabled technologies like IoT, edge computing, and 5G technology make it possible for enterprises to minimize operational risks associated with COVID-19 and fulfill consumer expectations.

Telemedicine programs, diagnostic devices and software applications utilize patient data to enable healthcare professionals reach patients quickly and help out efficiently.

Further, there has been a significant increase in consumers subscribing to video streaming platforms like Amazon Prime and Netflix. For instance, Disney’s video streaming platform, Disney Plus, recorded 50 million subscriptions during the advent of COVID-19 pandemic. 5G edge cloud network and services allow video streaming service providers to enhance their experience for subscribers.

5G edge cloud network and services are helpful for consumers and enterprise located away from cities hosting hyper-scale data center computing. There is an increase in employees working from home due to the lockdowns legislated by national governments and social distancing measures being implemented by citizens. 5G edge cloud network and services are easing off-site operations and improving network and computing performance for enterprises.

5G Edge Cloud Network and Services Market: Regional overview

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.

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5G Edge Cloud Network and Services Market: Competition Landscape

Some of the key vendors in the global 5G edge cloud network and services market are

• Nokia
• Hewlett Packard Enterprise Development LP
• Huawei Technologies Co., Ltd.
• Cisco
• Dell Inc.
• IBM
• Amazon Web Services, Inc.
• FogHorn Systems

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.

Regional analysis includes:

• North America (U.S., Canada)
• Latin America (Mexico, Brazil, Rest of Latin America)
• Europe (Germany, Italy, U.K, Spain, France, Nordic countries, BENELUX, Russia, Rest of Europe)
• East Asia (China, South Korea, Japan)
• South Asia & Pacific (India, ASEAN, Australia & New Zealand, Rest of South Asia & Pacific)
• Middle East and Africa (GCC Countries, Turkey, South Africa, Res of MEA)

5G Edge Cloud Network and Services Market: Segmentation

The 5G edge cloud network and services market can been segmented on the basis of solution.