Press release
Mobile Edge Computing Market Growing at a Promising CAGR of 49.7% by the end of 2032
Mobile Edge Computing Market
It is anticipated that the global market for mobile edge computing will expand at a promising CAGR of 49.7%. By 2032, the market is projected to have increased from its $1 billion current valuation to $58.4 billion.
The main causes boosting the popularity of mobile edge computing systems are the desire to provide quality of experience (QoE) to end users, growing demand for high bandwidth, and expanding adoption of ultra-low latency.
The adoption of mobile edge computing software is also projected to be impacted by growing mobile data accessibility, an increase in the number of connected devices, and rising demand for telecom and network services.
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Covid-19 has impacted multiple marketing channels and supply chains while it has not impacted the mobile edge computing market much as the remotely driven work demands for better productivity and high data traffic handling capabilities.
The increasing number of interconnected devices and mobile data is excessively growing, thereby increasing the demand for enhanced telecommunication platforms and network services. These factors fuel the sales of mobile edge computing platforms and expand the market size in new regions.
Increased delivery of quality services along with the rising competition in the market, enhancing the sales of mobile edge computing.
Integration of mobile edge computing platforms with the latest technologies such as artificial intelligence, machine learning and the internet of things (IoT) is increasing the space and enhancing the operational capability, fuelling the sales of mobile edge computing systems.
Mobile edge computing is likely to play a significant role with the advent of 5G network bandwidth, as it can handle the online data traffic with ease, reducing the latency for 5G/4G networks.
Telecom giants and search engines like Google would provide end-users with unique applications that are supposed to be cloud-based to help the 5G network with the traffic handling systems.
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Key Takeaways
• The hardware segment of the mobile edge computing market is expected to lead in the component category through the forecast period, attributing to 5G deployments all around the world.
• Location-based services hold prominence and are likely to hold the largest portion of the Mobile edge computing market by application, owing to the positioning technologies and improved data transmission.
• The large enterprises segment is the biggest in the mobile edge computing market as per organization size, attributed to increased generation of data and wide geographical presence.
• Data analytics application is the second biggest segment by application category in the mobile edge computing market, owing to its integration with the latest big data technology.
• Asia Pacific is the world's fastest-growing region, accounting for the lion's share of the worldwide business-to-consumer industry and rapidly increasing 5G network deployments and high penetration of smartphones.
Competitive Landscape
The mobile edge computing market is highly competitive, with multiple vendors with an aggressive pricing range. Adilink Technology Inc, Brocade Communications, Huawei Technologies Co. Ltd, Juniper Networks Inc, Nokia corporation, Vasona Networks, Vodaphone and Vapor IO Inc are some of the major companies. These vendors use press releases, significant R&D spending, Marketing campaigns (Online & Offline), partnerships, mergers and acquisitions, and other growth tactics to keep up with the high competition.
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Key Segments:
Components
Hardware
Software
Services
Application
Smart Cities
Industrial Internet of Things (IIoT)
Remote Monitoring
Content Delivery
Augmented Reality (AR) and Virtual Reality (VR)
Others (autonomous vehicles, drones, and gaming)
Organization Size
Large Enterprises
SMEs
Verticals
Manufacturing
Energy and Utilities
Government and Defense
Telecommunications
Media and Entertainment
Retail and Consumer Goods
Transportation and Logistics
Healthcare and Life Sciences
Others (BFSI and Education)
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Expert analysis, actionable insights, and strategic recommendations - the Electronics, Semiconductor, and ICT team at Persistence Market Research helps clients from all over the globe with their unique business intelligence needs. With a repository of over 500 reports on electronics, semiconductors, and ICT, of which, 100+ reports are specific for ICT, the team provides end-to-end research and analysis on regional trends, drivers for market growth, and research development efforts in the electronics, semiconductor, and ICT industry.
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