The Edge Computing Market in Europe (2018-2023): Expected to Grow at a CAGR of 29.3% - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 16, 2018--The “Europe Edge Computing Market (2018-2023)” report has been added to ResearchAndMarkets.com’s offering.
The Europe edge computing market is expected to reach a value of USD 1.94 billion by 2023, expanding at a CAGR of 29.3%.
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 billion from the use of IOT in the healthcare sector. These factors are expected to drive edge computing applications in the region.
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 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 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.
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 Players ProfiledCisco system Microsoft Corporation IBM Google Amazon
Chapter 1: Executive Summary
Chapter 2: Europe Edge Computing Market Overview
Chapter 3: EU5 Edge Computing Market Overview
Chapter 4: Rest of EU5 Edge Computing Market Overview
Chapter 5: Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/research/4t4m3w/the_edge?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20181116005397/en/
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SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 11/16/2018 12:01 PM/DISC: 11/16/2018 12:01 PM