Mobile Edge Computing (MEC) is a network architecture perception that allows an IT service environment and cloud computing capabilities at the edge of the cellular network. The global mobile edge computing market is expected to grow at an exponential CAGR of 51.4% during the forecast period of 2021-2029. With the development in wireless technology, there is a need to develop computing capabilities at the edge (base station).
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Rising demand for low latency computing is the major driver of the mobile edge computing market. As latency is the fundamental measure of network performance. Low latency computing demand is rising with the need for advanced services such as cloud computing, 5G technology, virtual reality headsets, fitness trackers, and interactive gaming industries. Growing data traffic worldwide and emerging technologies such as 5G have led the demand of low latency computing to eliminate the failure of streaming. Growing digital data traffic lead to the constraints such as bandwidth overload, slow data connection and others.
The mobile edge computing market is segmented into technology, component, and verticals. The component segment is sub-segmented into hardware, software, and services. The hardware market is the dominating component segment in the mobile edge computing market with revenue in 2020. Hardware deals with the physical components present in the mobile edge computing network such as servers, routers, switches, processors. Rise in data traffic due to computing and networking is contributing to the growth of the global hardware market during the forecast period.
The 4G services lead the segment by technology of the mobile edge computing market by capturing largest market share of approximately 66% in 2020. The MEC in 4G technology is expected to grow at CAGR of 47.9% during the forecast period. The 4G services market is primarily driven by high penetration/ adoption of 4G services in countries such as USA, China, India and others. IT and telecom leads vertical segment of the global mobile edge computing market by capturing largest market share of over 35% in 2020. IT and Telecom edge computing market is expected to grow with the highest CAGR of 52.2% during the forecast period.
Geographically, the mobile edge computing market has been segmented into North America, Europe, Asia Pacific, and Rest of the World. North America held the largest revenue share of around 37% in global mobile edge computing market. The major drivers of North America business mobile edge computing market include enhancing data traffic, heavy investments made by the government, and enhancing usage of IOT devices such as smartphones and tablets. The Asia Pacific is the fastest growing region in the Mobile Edge Computing (MEC) market with a CAGR of 52.4%. The MEC market in China has been impacted by year-over-year growing number of internet users in the country. Importantly, new internet users in China are using the internet services on mobile platform such as on smartphones and tablets.
Partnership/Collaboration is the primary strategy adopted by the companies in the mobile edge computing market. Strategic partnership allows the companies to share their resources in order to serve their respective self-interest. Partnerships also enable sharing of economic burden and facilitate better services to the users. Key companies in this market include Adlink Technology, Inc., Gigaspaces Technologies Inc., Huawei Technologies Co. Ltd., Peerapp Inc., Intel Corporation, Juniper Network Inc, Spidercloud Wireless, Inc, Saguna Networks Ltd, Quortus, Ibm Corporation, Integrated Device Technology, Inc., Vasona Networks, Artesyn’s Embedded Technologies, Nokia Company, ZTE Corporation and Others.
Key Market Movements:
Mobile Edge Computing Market is segmented into:
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2019-2029 |
| Base Year | 2020 |
| Forecast Period | 2021-2029 |
| Historical Year | 2019 |
| Unit | USD Million |
| Segmentation | By Technology (2019-2029; US$ Mn) |
| By Component (2019-2029; US$ Mn) | |
| By Verticals (2019-2029; US$ Mn) | |
| By Region (2019-2029; US$ Mn) | |
| Global Impact of Covid-19 Segment (2020-2021; US$ Mn) |
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