Meticulous Research® – leading global market research company, published a research report titled “Mobile Edge Computing Market by Component, Application (Location-based Services, Unified Communication, Optimized Local Content Distribution, Data Analytics, Environmental Monitoring), Organization Size, and region – Global Forecast to 2027”.
According to this latest publication from Meticulous Research®, the global mobile edge computing market is expected to grow at a CAGR of 30.1% from 2020 to 2027 to reach $2.8 billion by 2027. Factors driving the growth of this market include the increasing need for mobile edge computing technology among enterprises to deliver superior quality of experience (QoE) along with the rising demand for low-latency processing and real-time automated decision-making solutions. In addition, the emergence of autonomous vehicles, enhancement in connected car infrastructure, and emerging MEC application areas in AR/VR offer significant growth opportunities for players operating in the MEC market. However, the lack of required infrastructure and deployment capabilities is obstructing the growth of this market.
The global MEC market study presents historical market data in terms of value (2018 & 2019), estimated current data (2020), and forecasts for 2027. The market is segmented on the basis of component, application, and organization size. The study also evaluates industry competitors and analyses the market at a country level.
Based on component, the hardware segment commanded the largest share of the overall mobile edge computing market in 2020. Growing investment in 5G technology deployments across the telecommunication industry for improving quality of service is one of the key factors fueling investments in mobile edge computing hardware market.
Based on application, the location-based services segment commanded the largest share of the overall mobile edge computing market in 2020. The growth of this segment is mainly driven by continuous developments in the positioning technologies and improved data transmission through modern technologies, such as cloud computing and 5G technology. Many players in the MEC market are focusing on launching advanced MEC platforms for location-based services, which is anticipated to boost the growth of this market. However, the data analytics segment is expected to grow at the fastest CAGR during the forecast period.
Based on organization size, the large-size enterprises segment commanded the largest share of the overall mobile edge computing market in 2020. The large share of this segment is mainly attributed to the rapidly increasing data generation, coupled with the wide geographical presence and large customer base. In addition, the increasing demand for employees to access computing resources and applications ubiquitously while ensuring suitable data storage is driving the demand for mobile edge computing solutions among large enterprises.
Geographically, the North American region commanded the largest share of the global mobile edge computing market in 2020. The large share of North America is primarily attributed to the presence of a large number of players offering MEC solutions, higher adoption of advanced technologies, and rapidly growing telecommunication industry. In addition, the rapidly increasing networked devices and rising internet traffic in North America is anticipated to create tremendous opportunities for players operating in this market.
Key players operating in the global mobile edge computing market are Huawei Technologies co., Ltd. (China), Saguna Networks, Ltd. (Israel), Juniper Networks, Inc. (U.S.), IBM Corporation (U.S.), Intel Corporation (U.S.), Vapor IO (U.S.), ZephyrTel (U.S.), AT&T, Inc. (U.S.), Nokia Corporation (Finland), Renesas Electronics Corporation (Japan), Corning, Inc. (U.S.), Adlink Technology, Inc. (Taiwan), Advantech Co., Ltd. (Taiwan), Emerson Electric co. (U.S.), and GigaSpaces Technologies, Inc. (U.S.), among others.
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