Authored By: Sarah
11 Jul 2024

 Mobile Edge Computing Market Size to grow by USD 3547 million between 2024-2028

According to a research report “ Mobile Edge Computing Market” by Component (Hardware, Software) Geography (North America, Europe, APAC, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 3547 million, at a CAGR of  46.12% during the forecast period. Mobile edge computing is a cutting-edge technology that is revolutionizing the way businesses leverage IoT devices and network resources. By integrating routers, integrated access devices, routing switches, multiplexers, cloud services, and other wide-area network access devices, mobile edge computing enables user proximity to access and utilize available resources in mobile edge networks. This innovative platform empowers billions of connected mobile devices to execute real-time compute-intensive applications in end-user industries by directly connecting with the network edge. Furthermore, it grants software applications access to local content, providing real-time information about network conditions. Mobile edge computing also simplifies data analytics within industries by deploying services and caching content at the network edge.

Browse market data tables, figures, and in-depth TOC on “Mobile Edge Computing Market” by Component (Hardware, Software) Geography (North America, Europe, APAC, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample

 

By Component, the Hardware segment is projected to dominate the market size in 2024

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By Geography, North America  segment is expected to hold the largest market size for the year 2024

In the realm of mobile edge computing, hardware plays a pivotal role in enabling real-time application processing at the edge. Comprising processors, servers, switches, routers, and end devices, these components are essential for implementing edge computing solutions. The selection and configuration of hardware depend on the specific use cases and industries, with a focus on ruggedized hardware that can withstand harsh environments and deliver high performance. Key features include resistance to shocks, extreme temperatures, vibrations, and dust. The hardware segment of the global mobile edge computing market is poised for significant expansion due to the growing demand for real-time data processing and the increasing adoption of edge computing technologies.

North America is forecasted to hold the largest market size by region in 2024

The Mobile Edge Computing (MEC) market is experiencing significant growth due to the increasing demand for low-latency, real-time data processing in mobile environments. MEC enables businesses to move computing power closer to the edge of their networks, reducing the need for costly and time-consuming data transfers to the cloud. This results in improved network efficiency, enhanced user experience, and increased business agility. Key industries such as healthcare, manufacturing, and retail are adopting MEC to drive digital transformation and gain a competitive edge.

The Mobile Edge Computing Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • ADLINK Technology Inc.
  • Advantech Co. Ltd.
  • AT and T Inc.
  • COMSovereign Holding Corp.
  • GigaSpaces Technologies Ltd.
  • Huawei Technologies Co. Ltd.
  • Intel Corp.
  • Juniper Networks Inc.
  • Nokia Corp.
  • SK Telecom Co. Ltd.
  • SMART Global Holdings Inc.
  • TelcoDR Inc.
  • Telefonaktiebolaget LM Ericsson
  • Verizon Communications Inc.
  • Vodafone Group Plc
  • ZTE Corp.
.

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Research Analysis Overview

Mobile Edge Computing (MEC), also known as Cloud Edge Computing, is a technology that brings cloud services closer to the end-users by deploying cloud computing capabilities at the edge of telecom networks. This is particularly important for the Internet of Things (IoT) solutions and the telecom industry, as it reduces latency and improves Quality of Experience (QoE) for applications such as Virtual Reality (VR) and Augmented Reality (AR). With the advent of 5G networks, MEC technology is gaining significant traction. Mobile Network Operators (MNOs) are investing in MEC to support IoT solutions, 5G technologies, and connected automobile infrastructure. MEC technology enables autonomous vehicles to process data in real-time, reducing the dependence on centralized cloud computing. Cellular base stations and Radio Access Networks (RAN) are being transformed into IT service environments, enabling MEC. Cellular MEC technology helps in addressing network congestion and improving the overall performance of cellular networks. With the integration of MEC and IT service environment, MEC is expected to revolutionize the way we use cloud computing, particularly in industries such as health, where real-time data processing is crucial. Overall, MEC is set to play a significant role in the future of telecommunications networking and information technology.

Market Research Overview

Mobile Edge Computing (MEC), also known as Multi-Access Edge Computing, is a technology that brings cloud computing capabilities closer to the end user by deploying IT services, including Artificial Intelligence (AI), at the edge of the network. This is made possible through the deployment of edge devices at cellular base stations, telecom towers, and other strategic locations. The Mobile Edge Computing market is expected to grow significantly due to the increasing adoption of IoT solutions, 5G networks, and the need for low latency and high Quality of Experience (QoE) in industries such as Telecom, Energy and Utilities, Government and Defense, Manufacturing, Media and Entertainment, and Healthcare. 5G networks and IoT deployments are driving the demand for MEC technology, as they require hyper-connectivity and real-time processing of data. The telecom industry is at the forefront of this trend, with Mobile Network Operators (MNOs) investing in MEC to provide advanced services such as VR, AR, and connected automobile infrastructure for autonomous vehicles. MEC technology also offers benefits for industries such as manufacturing, where real-time processing of data is essential for optimizing production processes. In addition, MEC can be used for edge video caching, content delivery, and computational offloading, reducing the load on cloud data centers and improving response times. Professional associations, universities, and IT and telecom companies are conducting research and developing standards for MEC technology. Key applications include indoor positioning, smart grids, and collaborative computing. With the increasing adoption of MEC, we can expect to see more innovative use cases in industries such as healthcare, smart enterprises, and smart venues. However, the implementation of MEC technology also presents challenges, such as network congestion and the need for energy-efficient edge devices. The IT service environment must also be designed to support the deployment and management of MEC services. Overall, the Mobile Edge Computing market is poised for significant growth as the world becomes increasingly hyper-connected.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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