The global mobile edge computing market will likely expand at a phenomenal 51.0% CAGR during the period from 2017 to 2025. At this rate, its revenue is projected to become US$4228.3 mn by 2025 from US$73.8 mn in 2016.
Albany, NY -- (SBWIRE) -- 03/06/2018 -- Global Mobile Edge Computing (MEC) Market: Overview
Mobile Edge Computing (MEC) provides access to cloud-like computing and storage resources at the mobile edge, within the Radio Access Network (RAN) and in close proximity to mobile subscribers. A deployment at the Mobile Edge can provide applications with significant benefits, for example the ultra-low latency necessary for emerging applications such as Tactile Internet. Mobile Edge Computing opens up services to consumers and enterprise customers as well as to adjacent industries that can now deliver their mission-critical applications over the mobile network. The MEC market is expected to witness a growing demand globally owing to its growing trend in different applications due to its low latency, high content delivery and high quality of experience.
The mobile edge computing market report provides an in-depth analysis of the global mobile edge computing market for the period 2017 – 2025, wherein 2016 is the base year and the years from 2017 to 2025 is the forecast period. Data for 2015 has been included as historical information. It also provides the comprehensive analysis of mobile edge computing market based on its component type, various industry vertical and by technology.
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Demand for HD Likely to Catalyze Market Growth
The global mobile edge computing market can be classified based upon component into hardware, software, and service. Of them, the hardware segment held a lion's share of 80.0% in the market in 2016. This is because the entire mobile edge computing architecture is comprised of different hardware, namely servers, processors, routers, and switchers. In the foreseeable future too, the segment is predicted to surpass others in terms of growth.
At present, several hardware and software vendors are facing challenges to integrate mobile edge computing architecture with the help of 4G LTE network. However, deployment of 5G infrastructure will likely help overcome the challenge. The high demand for HD and 4K live video streaming is also predicted to catalyze growth in the market.
Emerging Economies to Power Growth due to Penetration of Smartphones
From a geographical standpoint, Europe accounts for a leading share in the global mobile edge computing (MEC) market. In 2016, its market accounted for a share of 43.5%. This is mainly on the back of growing uptake of mobile edge computing on account of increasing monthly data usage and the rising adoption of devices having Internet of Things (IoT). In the next few years, the Europe mobile edge computing (MEC) market is predicted to register a CAGR of 42.8%.
North America is another crucial market for mobile edge computing (MEC), which is being fuelled by the U.S. North America is home to most of the hardware and software vendors and is expected to remain a key contributor in the next couple of years as well.
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Asia Pacific, South America, and the Middle East are slated to be the most promising markets going forward because of the burgeoning mobile subscribers and IoT devices that support market growth for mobile computing market. At present, the global mobile edge computing (MEC) market is being driven by the demand from developed nations, particularly those in Europe and North America. In future, it will be the emerging economies in Asia Pacific and the Middle East and Africa.
Some such prominent names in the global mobile edge computing (MEC) market are IBM Corporation, Huawei Technologies Co., Ltd., Integrated Device Technology, Inc., Nokia Corporation, PeerApp Ltd., Intel Corporation, Juniper Networks, Inc., ADLINK Technology Inc., Saguna Networks Ltd., Vasona Networks, Inc., ZTE Corporation, and SpiderCloud Wireless, Inc.
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