The market size of edge data center crossed USD 9 billion in 2022 and is set to progress at over 15% growth rate during the next 10 years owing to prevalent smartphone penetration and an upsurge in technological advancements in smart computing, storage, and networking.
The colocation application segment is primed to surpass USD 18 billion in revenue by the end of 2032 backed by the surging emphasis of companies on reducing expenditure related to the maintenance and construction of data centers.
The micro data centers segment is estimated to grow at over 20% CAGR between 2023 and 2032 as a result of the mounting adoption of IoT solutions in SMEs, which is boosting the need for high bandwidth, superior reliability, low latency, and robust security.
The North America market hold at more than USD 4 billion in 2022 on account of efforts made by organizations towards enhancing technological power via the inclusion of big data analytics and cloud solutions in the region.