Mobile Edge Computing (MEC) Market (Component - Hardware, Software (Video Analytics, Location Services, IoT, Data Caching, and Connected Vehicles), and Service (Consulting, System Integration, and Maintenance); Industry Vertical – Media & Entertainment, Retail, Healthcare, IT & Telecom, and BFSI; Technology - 4G, 5G, and Wi-Max) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
Albany, NY -- (SBWIRE) -- 07/13/2017 -- With the significant rise in the demand for low latency computing and a better quality of experience (QoE), the global market for mobile edge computing is displaying high growth in its size. The surge in the network traffic, growing incidence of data explosion, and the increasing demand for low energy consumption technologies are projected to propel this market substantially in the years to come.
A report by Transparency Market Research (TMR) states that the worldwide mobile edge computing market, which stood at US$73.8 mn in 2016, is anticipated to expand at a remarkable CAGR of 51.0% between 2017 and 2025 and reach a value of US$4228.3 mn by the end of 2025.
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In this blog, experts at TMR provides answers to some of the significant queries about the global mobile edge computing market:
What are the prime factors that influence the growth of the global mobile edge computing market?
The global market for mobile edge computing is driven by a number of factors, among which, the low latency networks, specifically for media and entertainment purposes, is the most prominent one. As mobile edge computing technology has the ability to accelerate the circulation of media services by allocating content straight from the base station, it enhances the experience of consumers in terms of high data traffic growth. With the help of this technology, administrators can adapt this traffic to the leading radio circumstances, enhance service quality and improve network efficiency.
How the key regional markets for mobile edge computing will perform in the years to come?
Europe, North America, South America, the Middle East and Africa, and Asia Pacific are the prominent regional markets for mobile edge computing market. Among these, Europe has acquired the overall market, thanks to the rising adoption of mobile edge computing, fueled by the increasing data usage and the surge in the uptake of devices based on Internet of Things (IoT).
While this regional market is likely to remain on the top over the next few years, South America, Asia Pacific, and the Middle East are anticipated to emerge as the most promising regional markets for mobile edge computing on the grounds of the bolstering pool of subscribers of mobile and IoT devices. North America is also expected to witness a high rise in its market for mobile edge computing in the near future, owing to the presence of a large number of hardware and software vendors.
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What are the strategies popular among leading players in the global mobile edge computing market?
Since the worldwide market for mobile edge computing is highly competitive and dynamic, the key players in this market, such as IBM Corp., Huawei Technologies, Nokia Corp., and Intel, are continuously striving to develop more efficient solutions in response to various requirement of the end users. These companies have increased their investments in cutting edge technologies to come up with highly advanced software and hardware solutions in a bid to stay on top of the game.