Increasing data traffic and rising demand for mobile edge communication systems are some major factors driving the growth of global mobile edge computing market.
According to TechSci Research report, “Global Mobile Edge Computing Market By Component (Hardware, Software), By Application (Location-Based Services, Video Surveillance, Unified Communication, Optimized Local Content Distribution, Data Analytics, Environmental Monitoring, Others), By Organization Size (Small and Medium Enterprises (SMEs), Large Enterprises), By Technology (Global 4G, Global 5G, Global Wi-Max), By Industry Vertical (BFSI, Retail & E-Commerce, Manufacturing, Government & Defense, Energy & Utilities, IT & Telecom, Education, Healthcare, Others), By Region, Forecast &Opportunities,2025”, the market is anticipated to witness a significant CAGR during the forecast period on account of increasing number of interconnected devices which is forcing enterprises to improve end-user’s Quality of Experience (QoE). Moreover, growing demand for ultra-low latency and high bandwidth, coupled with emergence of new technologies are some other key factors driving the growth of global mobile edge computing market. Apart from this, increasing data traffic is also leading to the rising demand for mobile edge communication systems around the world. With growing adoption of smart devices such as smartphone & tablets for real time access and social media access, the global mobile edge computing market is poised to grow substantially over the next five years.
Additionally, mobile edge computing technology is expected to play a significant role with emergence of 5G network as it helps in reducing latency. The market players are also investing on engineering cutting edge technologies which is further expected to propel the growth of global mobile edge computing market through 2025.
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The global mobile edge computing market is segmented based on component, application, organization size, technology, industry vertical and region. Based on application, the market can be segmented into location-based services, video surveillance, unified communication, optimized local content distribution, data analytics, environmental monitoring and others. Among them, the data analytics application segment is expected to undergo fastest growth during the forecast period as they are extensively being used to capture key information for analytics and big data owing to its proximity to the source of information.
Based on industry vertical, global mobile edge computing market can be split into BFSI, retail & e-commerce, manufacturing, government & defense, energy & utilities, IT &telecom, education, healthcare and others. Out of them, the IT & telecom segment is anticipated to hold dominance in terms of market share during the forecast period owing to ongoing upgradation of its infrastructure to prepare for the 5G transition.
Leading players operating in the global mobile edge computing market are Adlink Technology Inc., Advantech Co. Ltd., Artesyn Embedded Technologies Inc., Gigaspaces Technologies Inc., Huawei Technologies Co. Ltd., IBM Corporation, Integrated Device Technology, Inc., Juniper Networks, Inc. and Nokia Corporation, among others. Market players are using the enhancement in the network bandwidth due to the 5G services. For instance, in March 2020, Nokia announced that it is adding 5G and edge capabilities to its Worldwide IoT Network Grid (WING) managed services. Moreover, companies are also undergoing inorganic growth strategies such as partnerships, strategic collaborations, mergers & acquisitions and joint ventures.
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“Asia Pacific is anticipated to register fastest growth in the global mobile edge computing market over the forecast period. The increasing adoption of smart devices such as tablets, smartphones, etc. as well as growing emergence of e-commerce in the region are some key factors which are propelling the growth of mobile edge computing market,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Mobile Edge Computing Market By Component (Hardware, Software), By Application (Location-Based Services, Video Surveillance, Unified Communication, Optimized Local Content Distribution, Data Analytics, Environmental Monitoring, Others), By Organization Size (Small and Medium Enterprises (SMEs), Large Enterprises), By Technology (Global 4G, Global 5G, Global Wi-Max), By Industry Vertical (BFSI, Retail & E-Commerce, Manufacturing, Government & Defense, Energy & Utilities, IT & Telecom, Education, Healthcare, Others), By Region, Forecast &Opportunities, 2025”has evaluated the future growth potential of Mobile Edge Computing market and provides statistics &information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global mobile edge computing market.
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