Mobile Edge Computing Market

Global Mobile Edge Computing Market Size (2024 to 2029)

The global mobile edge computing market is predicted to reach USD 475.3 billion in 2024 and USD 1,533.57 billion by 2029, growing at a CAGR of 26.4% during the forecast period.

Mobile edge computing is a network architecture that supports IT and cloud computing functions at the edge of a cellular network. It is a new option for network providers needing to meet consumer demand for higher coverage and bandwidth. MEC is majorly used to reduce network congestion and to improve applications by performing relevant processing tasks. Primarily, this technology is designed to provide rapid deployment of applications, cellular base stations, and other customer services. It has a wide range of benefits associated, and the primary benefit is to reduce congestion on mobile networks. This can be achieved by bringing the data closer to the end-user and sending it directly to the phone. Organizations are embracing this technology to improve operations and gain real-time insights, driving significant growth in the market for edge mobile computing. The growing demand for a better-quality end-user experience (QoE) and ultra-low latency and high bandwidth are some of the factors driving the growth of the global mobile edge computing market.

Global Mobile Edge Computing Market Drivers:

The growth in this market is driven by increased demand from businesses to provide QOE, coupled with increasing demand for low-latency processing and automated real-time decision-making solutions. As the number of interconnected devices increases, mobile data increases exponentially, leading to an increase in demand for network and communications services. Mobile network operators are constantly under pressure to provide quality service to their subscribers as their desire for mobile data, including mobile video services, is growing rapidly. MEC is a network architecture that enables operators to offer new services at the edge of their mobile network. The mobile edge computing market is growing with the proliferation of smartphones in developing countries such as India and China due to the increasing need for real-time access and the growth of social media, as well as the increasing focus on providing a high bandwidth and low latency. With the increasing amount of data generated by millions of subscribers streaming terabytes of music, video, and social media every day, businesses are facing high network loads, and the increasing demand for network bandwidth is spectral bandwidth with very low latency. As the number of interconnected devices continues to grow, mobile data is growing exponentially, leading to an increase in demand for network and communications services. Mobile Network Operators (MNOs) are constantly under pressure to provide quality service to their subscribers as the demand for mobile data, including mobile video services, grows rapidly. Due to the amount of new data that is currently being created and used, these infrastructures cannot meet customer needs.

MNOs are actively adopting this technology to meet the bandwidth demands of their subscribers, but they need better distribution capabilities. Of all the parameters involved, latency will be the most important factor for your business. This is where edge computing has helped infrastructure developers solve their problems. As new technologies mature, cutting-edge computing is expected to have a significant impact. Also, the proximity of MEC components at the edge greatly improves QoE. To provide subscribers with QoS (Quality of Service) and QoE (Quality of Experience), MNOs are contributing to the growth of the mobile edge computing market through the widespread adoption of advanced mobile edge computing technology. Also, the emergence of autonomous cars and connected car infrastructure and the new AR/VR MEC application area provide significant opportunities for the growth of the global mobile edge computing market. Technology providers focus primarily on R&D to improve existing and emerging applications. MNOs need 5G networks at the edge to run the MEC ecosystem, and 5G is not yet implemented everywhere.

Global Mobile Edge Computing Market Restraints:

The lack of essential infrastructure and implementation capabilities, as well as factors such as regulatory and legal frameworks and privacy and security concerns, are limiting the growth of the worldwide market.

Impact of COVID-19 on the global mobile edge computing market:

The coronavirus pandemic has had a negative impact on the market due to business disruption around the world. The three interrelated technologies, the Internet of Things (IoT), 5G, and edge computing, are expected to have a significant lag in spending and some impact on the market.

GLOBAL MOBILE EDGE COMPUTING MARKET REPORT COVERAGE:

This research report on the global mobile edge computing market has been segmented and sub-segmented based on the component, application, organization size, and region.

Global Mobile Edge Computing Market - By Component:

• Hardware

• Software 

• Services   

The hardware segment had the largest global mobile edge computing market share in 2020. Increasing investments in 5G deployments in the telecommunications industry to improve service quality is one of the crucial factors driving investments in mobile edge computing hardware. Includes perimeter gateway and hyper-converged infrastructure.

Global Mobile Edge Computing Market - By Application:

• Unified Communication    

• Location-based Services    

• Data Analytics        

• Optimized Local Content Distribution          

• Environmental Monitoring

The location-based services segment accounted for the majority of the overall mobile edge computing market in 2020, the growth of which was driven primarily by recent developments in positioning technology and data transfer enhanced data through cloud computing and 5G.

Global Mobile Edge Computing Market - By Organization Size:

• SMEs         

• Large Enterprises 

The Large Enterprise segment accounted for the majority of the overall mobile edge computing market in 2020 due to its broad geographic footprint and increased data generation due to its customer base.

Global Mobile Edge Computing Market – By Region:

• North America

  • The United States

  • Canada

  • Rest of North America

• Europe

  • The United Kingdom

  • Spain

  • Germany

  • Italy

  • France

  • Rest of Europe

• The Asia Pacific

  • India

  • Japan

  • China

  • Australia

  • Singapore

  • Malaysia

  • South Korea

  • New Zealand

  • Southeast Asia

• Latin America

  • Brazil

  • Argentina

  • Mexico

  • Rest of LATAM

• The Middle East and Africa

  • Saudi Arabia

  • UAE

  • Lebanon

  • Jordan

  • Cyprus

North America is an important Mobile Edge Computing (MEC) market led by the United States. North America is home to the majority of hardware and software vendors and is supposed to continue to be a major contributor for years to come. Asia Pacific, South America, and the Middle East will become the most promising markets in the future due to the proliferation of mobile subscribers and IoT devices that support the growth of the global mobile edge computing market.

KEY MARKET PARTICIPANTS:

The major players operating in the global mobile edge computing market include Huawei Technology Co. Ltd., IBM Corporation, Brocade Communications Systems Inc., Saguna Networks Ltd., Intel Corporation, Adlink Technology Inc., Nokia Corporation, Artesyn Embedded Technologies Inc., and Advantech. Co., Ltd., Juniper Networks Inc., and others.

RECENT DEVELOPMENTS:

• In March 2020, Google announced a vision to enable telecom providers to deliver business services over 5G networks. Through its Global Mobile Edge Cloud (GMEC) strategy, Google and the telcos will provide exclusive applications and services that run on the edge and are delivered over 5G networks.

• In March 2020, four operators, Telefónica, KT, China Unico, and Telstra, began developing and testing software solutions in cooperation with the technology company Altran, which joined open source and standards organizations that develop computing standards of moving edge (MEC).

• SK Telecom announced in January 2020 that it had completed independent 5G data calls (SA) on commercial 5G networks. Data calls were made using Ericsson and Samsung network equipment.

• In October 2019, Intel acquired the Smart Edge software company for $27 million from Pivot Technology Solutions in Toronto. The company has partnered with Intel to develop and launch many new edge computing use cases. Cloud-native Smart Edge can be extended for Multiple Access Edge Computing (MEC).