Mobile Edge Computing (MEC) Market - Global Industry Analysis, Size, Growth, Trends, Forecast 2024

Mobile edge computing (MEC) is a platform used to deploy services inside the radio access network (RAN) to enhance user knowledge. It provides a capability that empowers workers to improve latency sensitive services. In other words, MEC is a platform used to bring an IT service and cloud computing environment to support content suppliers and application developers. Some of the notable characteristics of this environment includes high frequency range and ultra-low latency as well as real-time access to radio network data, which are consequently utilized by the applications. MEC platform enables mobile operators to make an exclusive mobile capability, which helps in reducing burden on network structure and bring a novel scalable solutions for the customers. MEC have the capability to hasten the distribution of media services by distributing content straight from the base station, which considerably improves the consumer experience in aspect of high data traffic growth. This technology allows administrators to well adapt traffic to the dominant radio circumstances, improve network efficiency and enhance service quality.

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MEC is an important part of edge computing and is applied on several frameworks including machine to machine (M2M), big data analytics and network security. The MEC server would be installed on the sites such as 3G radio network controller (RNC), LTE macro base station and multi-technology cell collection site. The MEC model has been developed with an aim to attract virtualization technology to permit virtual function execution on this disseminated MEC platform. It helps in enhancing network architecture valuation and distribution cloud to further introduce 5G network architecture in the real environment.

The global mobile edge computing market is experiencing growth owing to factors such as base station evaluation, growing awareness about 5G networks, enabling faster content delivery, fog computing and low latency and virtualization and server. Also, cell aggregation point, IT and telecom network convergence, high volume servers and edge cloud and data transferability are major factors which would swell the MEC market to grow.

The major factors which hamper the global mobile edge computing market include lack of managerial and analytical talent as well as gathering and storage issues. Furthermore, the lack of development of new technologies in emerging markets is hindering the MEC services adoption due to absence of technical knowledge and infrastructure availability.

Moreover, the rapidly growing demand for technology based services is subsequently impelling the growth of the mobile edge computing market. Currently, the MEC growth is fueled by growing demand in developed countries, specifically in western markets such as Europe and North America. The emerging regions are comparatively slow in adopting the MEC platform, and are anticipated to fuel the growth of MEC market in the coming years.

The global mobile edge computing market can be segmented on the basis of applications and end-use. By applications, the MEC market is segmented into location services, video analytics, internet-of-things (IOT) connectivity, environmental monitoring, optimized local content, augmented reality, offloading and data caching. Further, On the basis of end-use, the MEC market is segmented into education, gaming, healthcare, public safety, connected vehicles and location based services. MEC is also expected to produce a new environment, which helps in the growth of the various end-use markets over the coming years.

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The market for global mobile edge computing market is highly fragmented with the presence of players such as IBM Corporation, Huawei Technologies Co., Ltd., Integrated Device Technology, Inc., Nokia Corporation, ETSI, Parallel Wireless, Inc., Juniper Networks, Inc., Vodafone Group, PeerApp, Vasona Networks, ADLINK Technology Inc., and Intel Corporation.

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