DUBLIN--(BUSINESS WIRE)--The "Mobile Edge Computing - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Mobile Edge Computing Market to Reach $2.2 Billion by 2026
The global market for Mobile Edge Computing estimated at US$427.3 Million in the year 2020, is projected to reach a revised size of US$2.2 Billion by 2026, growing at a CAGR of 30.8% over the analysis period.
Mobile edge computing allows faster and more flexible deployment of various services and applications for customers. The technology combines telecommunication networking and IT to help cellular operators in opening radio access networks (RANs) for authorization of third parties such as content providers and application developers. The access to cloud services and resources also allows emergence of new applications to support smart environments.
Hardware, one of the segments analyzed in the report, is projected to record 29.3% CAGR and reach US$2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Software & Services segment is readjusted to a revised 35.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $242.5 Million in 2021, While China is Forecast to Reach $173.5 Million by 2026
The Mobile Edge Computing market in the U.S. is estimated at US$242.5 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$173.5 Million by the year 2026 trailing a CAGR of 35.8% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 25.9% and 29.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 27.3% CAGR.
The market is presently witnessing steady growth also fuelled by the factor of aggressive investment of market players in developing cutting-edge technologies and providing more effective solutions to consumers. Factors including growing load on global cloud infrastructure and increase in intelligent application numbers are also fuelling market growth for mobile edge computing.
Growing need for enhancing QoE (Quality of Experience) for end users and increasing ultra-low latency demand are also fuelling demand growth for MEC solutions. MEC aids real time applications in the processes of data analysis and processing. 5G network and emergence of several new languages and frameworks for IoT solutions would also offer major market growth opportunities over the coming years. Location based services is anticipated to report one of the strongest growths of all services over the upcoming years due to greater efficiencies, reduced costs and increasing requirement of enterprises to provide enhanced QoE.
Nonetheless, mobile edge computing necessitates more hardware locally which leads to an increase in maintenance costs, a factor with the potential to hinder anticipated growth for the market. Also, despite being fairly safe, edge computing necessitates constant updating and monitoring because cyber-attacks are also becoming increasingly sophisticated.
There is also dearth of skilled labor for handling the technology which is highly complex. Lack of deployment capability and required infrastructure could also restrain growth in the market.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- An Introduction to Mobile Edge Computing: Bringing Storage & Computing Closer to Edge of Network
- Organizations Influencing Mobile Edge Computing Industry
- Mobile Edge Computing Holds Compelling Merits and Supports New Applications
- Mobile Edge Computing Emerges as Key Technology to Reduce Network Congestion
- Market Overview & Outlook
- Network Benefits and Performance Gains Enable Mobile Edge Computing Market to Post Healthy Growth
- Key Issues Related to Mobile Edge Computing
- Market Analysis by Component
- Application Market Analysis
- IT & Telecom: The Largest Vertical Market
- Transformation of the Telecom Industry with MEC
- Regional Analysis
- Competitive Scenario
- Recent Market Activity
- Mobile Edge Computing - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS (Total 52 Featured)
- Adlink Technology Inc.
- Advantech Co., Ltd.
- AT&T Inc.
- Gigaspaces Technologies Inc.
- Huawei Technology Co. Ltd.
- Intel Corporation
- Juniper Networks Inc.
- Nokia Corporation
- Saguna Networks Ltd.
- SK Telecom Co. Ltd.
- SMART Embedded Computing
- Telefonaktiebolaget LM Ericsson
- ZephyrTel Inc.
- ZTE Corporation
3. MARKET TRENDS & DRIVERS
- Rise in IoT Ecosystem, the Cornerstone for Future Growth
- Rising Demand for High-Performance Mobile Applications Bodes Well for MEC in Telecommunication Sector
- Percentage of Time Spent on Mobile Apps by Category for 2020 by Category
- 5G Networks to Inflate Market Demand
- Breakdown of Network Latency (in Milliseconds) by Network Type
- Accelerating Pace of Connected Care Adoption Drives Opportunities for Mobile Edge Computing
- Opportunities in Retail Sector
- Mobile Edge Computing to Gain Traction in BFSI
- Mobile Edge Computing Presents Landmark Technology for Media & Entertainment
- Low Latency & High Bandwidth Needs Create Ample Demand
- Edge-Powered Computing Offers Intriguing Advantages for Location-Based Applications
- Opportunities in Video Surveillance Ecosystem
- Reliable Data Analytics with Mobile Edge Computing
- Mobile Edge Computing Marks Paradigm Shift for Mobile Cloud Computing
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
- Total Companies Profiled: 52
For more information about this report visit https://www.researchandmarkets.com/r/k9gjd5