Mobile Edge Computing Market to Witness a Robust Growth By 2025
Increasing data traffic and
rising demand for mobile edge communication systemsare some major factors driving
the growth of global mobile edge computing market.
According to
TechSci Research report, “Global Mobile
Edge Computing Market By Component (Hardware, Software), By Application
(Location-Based Services, Video Surveillance, Unified Communication, Optimized
Local Content Distribution, Data Analytics, Environmental Monitoring, Others),
By Organization Size (Small and Medium Enterprises (SMEs), Large Enterprises),
By Technology (Global 4G, Global 5G, Global Wi-Max), By Industry Vertical
(BFSI, Retail & E-Commerce, Manufacturing, Government & Defense, Energy
& Utilities, IT & Telecom, Education, Healthcare, Others), By Region, Forecast
&Opportunities,2025”, the market is anticipated to witness a significant CAGR
during the forecast period on account ofincreasing number of interconnected
devices which is forcing enterprises to improve end-user's Quality of
Experience (QoE). Moreover, growing demand for ultra-low latency and high
bandwidth, coupled with emergence of new technologies are some other key
factors driving the growth of global mobile edge computing market. Apart from
this, increasing data traffic is also leading to the rising demand for mobile
edge communication systems around the world. With growing adoption of smart
devices such as smartphone & tablets for real time access and social media
access, the global mobile edge computing market is poised to grow substantially
over the next five years.
Additionally, mobile edge computing technology is
expected to play a significant role with emergence of 5G network as it helps in
reducing latency. The market players are also investing on engineering cutting
edge technologies which is further expected to propel the growth of global
mobile edge computing market through 2025.
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The global mobile
edge computing market is segmented based oncomponent, application, organization
size, technology, industry vertical and region. Based on application, the
market can be segmented into location-based services, video surveillance,
unified communication, optimized local content distribution, data analytics,
environmental monitoring and others. Among them, the data analytics application
segment is expected to undergo fastest growth during the forecast period as
they are extensively being used to capture key information for analytics and
big data owing to its proximity to the source of information.
Based on
industry vertical, global mobile edge computing market can be split into BFSI,
retail & e-commerce, manufacturing, government & defense, energy &
utilities, IT &telecom, education, healthcare and others. Out of them, the
IT & telecom segment is anticipated to hold dominance in terms of market
share during the forecast period owing to ongoing upgradation of its
infrastructure to prepare for the 5G transition.
Leadingplayers operating in the global mobile
edge computingmarket are Adlink Technology Inc., Advantech Co. Ltd., Artesyn
Embedded Technologies Inc., Gigaspaces Technologies Inc., Huawei Technologies Co.
Ltd., IBM Corporation, Integrated Device Technology, Inc., Juniper Networks,
Inc. and Nokia Corporation, among others. Market players are using the
enhancement in the network bandwidth due to the 5G services. For instance, in
March 2020, Nokia announced that it is adding 5G and edge capabilities to its
Worldwide IoT Network Grid (WING) managed services. Moreover, companies are
also undergoing inorganic growth strategies such as partnerships, strategic
collaborations, mergers & acquisitions and joint ventures.
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“Asia Pacific is anticipated to register fastest growth
in the global mobile edge computing market over the forecast period. The
increasing adoption of smart devices such as tablets, smartphones, etc. as well
as growing emergence of e-commerce in the region are some key factors which are
propelling the growth of mobile edge computing market,” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global Mobile Edge Computing Market By Component
(Hardware, Software), By Application (Location-Based Services, Video
Surveillance, Unified Communication, Optimized Local Content Distribution, Data
Analytics, Environmental Monitoring, Others), By Organization Size (Small and
Medium Enterprises (SMEs), Large Enterprises), By Technology (Global 4G, Global
5G, Global Wi-Max), By Industry Vertical (BFSI, Retail & E-Commerce,
Manufacturing, Government & Defense, Energy & Utilities, IT &
Telecom, Education, Healthcare, Others), By Region, Forecast &Opportunities,
2025”has evaluated the future growth potential of Mobile
Edge Computingmarket and provides statistics &information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in global mobile edge computing
market.
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