The global Mobile Edge Computing (MEC) market worth US$ 58.4 Bn by 2032, growing at a CAGR of 49.7%
The global mobile edge computing (MEC) market is chiefly driven by the increasing demand for low latency computing and latency is the essential measure of network performance. With the rise in emerging services like virtual reality headsets, 5G technology, fitness trackers, cloud computing and interactive gaming industry, demands for low latency computing. Mobile edge computing is recognized as key technology as it provides ultra-low latency. In addition to that, it exhibit architectural concept which in turn enables seamless video streaming coupled with evolution of 5G eras.
Europe has a leading share in global Mobile Edge Computing (MEC) market. The factor behind this growth is higher usage of data on monthly basis and adoption of devices that are embedded with Internet of Things (IoT). North America is vital part of mobile edge computing (MEC). In North America, the U.S. is expected to boost the market as most of software and hardware vendors reside in this region and in the next couple years, it will be the key contributor.
In the category of most promising markets, comes the Middle East, Asia-Pacific and South America. As these regions have burgeoning IoT devices and mobile subscribers that is expected to support market growth.
The global Mobile Edge Computing (MEC) market is classified on the basis of components, verticals, technology and geography. On the basis of technology, the segmentation accomplished includes 5G, WiMAX and 4G technology. With the records of 2016, the largest revenue share was achieved by 4G. Whereas, in the upcoming years, 5G is anticipated to be the winning technology with highest growth rate owed to growing demand for HD content.
Various send-users of this market includes automotive, healthcare, gaming, surveillance, and media, education and others. As organizations highly focus on collaborative studies, research collaborations could be more observed in healthcare industry. All these researches are reinforcing their systems with help of high computation capabilities such as edge computing systems.
The mobile edge computing (MEC) market have abundant number of key players. The players who are actively operating the development of new technology are Huawei Technology Co. ltd. (China), IBM Corporation (U.S.), Juniper Network (U.S.), Intel Corporation (U.S.), Nokia Corporation (U.S.) and Saguna Networks Ltd. (Israel). All these players are adopt innovative strategy in research and development, product development, expansion, investment, etc. to withstand with this dynamic market.
For instance, Google has launched Tensor Processing Unit (TPU) and cloud IoT edge. Google designed TPU, which is an application to prompt the machine learning workloads and expected to present at the edge. Cloud IoT is designed to extend Google Cloud’s machine learning and data processing to edge devices. Another, big investment came from Array networks to India. The main motive behind the step is to set up a development center in India.
Mobile Edge Computing (MEC) Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2032||US$ 58.4 Bn|
|Growth Rate||CAGR of 49.7% during 2022-2032|
|Segment Covered||by Component Type, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||ADLINK Technology Inc., Advantech Co., Ltd., FogHorn Systems, Hewlett Packard Enterprise Development LP, Huawei Technologies Co., Ltd., Juniper Networks, Inc., SAGUNA, SMART Embedded Computing, Vapor IO, Skyvera|
Key segments of the global Mobile Edge Computing (MEC) market
by Component Type 2018-2032 (USD Million)
• Video Analytics
• Location Services
• Internet of Things (IoT)
Regional Overview, 2018-2032 (USD Million)
• North America
o Rest of Europe
o Southeast Asia
o Rest of Asia-Pacific
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
• Central & South America
o Rest of South America