PUBLISHER: SkyQuest | PRODUCT CODE: 1250080
PUBLISHER: SkyQuest | PRODUCT CODE: 1250080
Global Mobile Edge Computing Market was valued at USD 1.9 billion in 2021, and it is expected to reach a value of USD 23.69 billion by 2028, at a CAGR of more than 43.4% over the forecast period (2022-2028).
The Global Mobile Edge Computing (MEC) Market refers to the market for computing infrastructure and services that are deployed at the edge of mobile networks. MEC enables data processing and analysis to take place closer to the source of data, reducing latency and improving network efficiency. MEC technology allows for faster response times, improved security, and increased scalability for mobile devices, applications, and services. This market includes hardware and software components, as well as services such as consulting, maintenance, and support. The growing demand for low-latency services, such as augmented and virtual reality applications, autonomous vehicles, and remote healthcare services, has led to the increasing adoption of MEC technology in various industries, including healthcare, automotive, manufacturing, and entertainment. The global mobile edge computing market is expected to grow significantly in the coming years, driven by the increasing number of connected devices and the need for faster and more efficient data processing.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Mobile Edge Computing Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report
Global Mobile Edge Computing Market is segmented based on the component, end use, organization size, verticals, application, and region. Based on component, the market is segmented into Hardware, Software and Services. On the basis of end use, it is categorized into IT & Telecom, Smart Cities, Smart Homes, & Smart Buildings, Datacenters, Energy & Utilities, Automotive and others. According to organization size the market is bifurcated into large enterprise and SMEs. According to verticals the market is sub segmented into Manufacturing, Energy and Utilities, Government and Defense, Telecommunications, Media and Entertainment, Retail and Consumer Goods, Transportation and Logistics, Healthcare and Life Sciences and others. On the basis of application it is segmented into Location-based Services, Unified Communication, Optimized Local Content Distribution, Data Analytics and Environmental Monitoring. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Driver
With the increasing adoption of technologies such as Internet of Things (IoT), Artificial Intelligence (AI), and Augmented Reality (AR), there is a growing need for low latency and high bandwidth applications. Mobile Edge Computing (MEC) enables low latency computing at the edge of the network, thus making it an ideal solution for these emerging technologies.
Restraint
One of the key restraints of the Mobile Edge Computing Market is the limited awareness and understanding of the technology among potential customers. Many businesses may not be aware of the benefits of MEC technology or may not fully understand how it works. This could lead to slow adoption and limited market growth.
Market Trends
The rollout of 5G networks is driving the adoption of Mobile Edge Computing. 5G technology provides higher bandwidth and lower latency, enabling more efficient processing of data at the edge of the network. MEC can help to offload data processing from the core network to the edge, improving the overall network efficiency and reducing latency for applications such as autonomous vehicles, AR/VR, and smart cities.