Press release
Mobile Edge Computing Future-Proofing Your Business with Market Size Growth Strategies
Mobile edge computing, also known as multi-access computing, involves the near-real-time processing of large amounts of data generated by edge devices and applications. It reduces the distance between data production, collection, and analysis by bringing processing capabilities closer to the source of data.
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This is achieved through virtual processing within a cloud network using wireless devices. The market growth is driven by the increasing automation spending across various industries and the growing demand for real-time automated decision-making solutions.
One of the key factors contributing to the market growth is the rising automation spending across industries. The global industrial automation market was valued at USD 175 billion in 2020, with a projected compound annual growth rate (CAGR) of around nine percent until 2025. By 2025, the market size is expected to reach USD 265 billion. The emergence of extended reality technology and the development of autonomous and connected automobile infrastructure also create favorable growth opportunities for the market.
However, the high deployment costs and infrastructural limitations pose challenges to market growth throughout the forecast period.
The market is segmented into different regions, including Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America currently dominates the market in terms of revenue due to the presence of leading market players and the availability of required technological infrastructure in the region. On the other hand, Asia Pacific is expected to exhibit the highest compound annual growth rate (CAGR) during the forecast period. Factors such as increasing automation across industries and the penetration of leading market players in the region contribute to this growth.
Some of the major players in the global mobile edge computing market include Adlink Technology Inc., Advantech Co., Ltd., Artesyn Embedded Technologies Inc., Brocade Communications Systems, Inc., Huawei Technologies Co., Ltd., Juniper Networks, Inc., Nokia Corporation, Saguna Networks Ltd., Vapor IO, Inc., and Vasona Networks, Inc.
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In terms of recent developments, in May 2020, IBM collaborated with Red Hat to launch new edge computing solutions for 5G. These offerings run on the Red Hat OpenShift enterprise Kubernetes platform, enabling deployment across data centers, multiple public clouds, and the edge.
The report provides a comprehensive scope of the global mobile edge computing market, including historical data from 2019 to 2021 and a base year for estimation in 2021. The forecast period is from 2022 to 2029. The report covers revenue forecasts, company rankings, competitive landscape analysis, growth factors, and trends. It also includes segmentation based on components (hardware and software), applications (location-based services, video surveillance, unified communication, optimized local content distribution, data analytics, and environmental monitoring), organization size (large enterprises and small and medium-sized enterprises), and regions.
Please note that the information provided is based on the data available up until September 2021, and the market dynamics and figures may have changed since then. It is always recommended to refer to the latest research and reports for the most up-to-date information.
The global Smart market report answers questions such as:
• What is the market size and forecast of the Global Smart airport Market?
• What are the inhibiting factors and impact of COVID-19 on the Global Smart airport Market during the assessment period?
• Which are the products/segments/applications/areas to invest in over the assessment period in the Global Smart airport Market?
• What is the competitive strategic window for opportunities in the Global Smart airport Market?
• What are the technology trends and regulatory frameworks in the Global Smart airport Market?
• What is the market share of the leading players in the Global Smart airport Market?
• What modes and strategic moves are considered favorable for entering the Global Smart airport Market?
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