Mobile Edge Computing Market

Market Study on Mobile Edge Computing: Enhancing Customer’s Experience, Covid-19 and Internet Penetration Fuels the Demand

Mobile Edge Computing Market Segmented By Hardware, Software, Services Components in Large Enterprises, SMEs

Industry: IT and Telecommunication

Published Date: April-2022

Format: PPT*, PDF, EXCEL

Delivery Timelines: Contact Sales

Number of Pages: 312

Report Price

$ 4900*

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Report ID: PMRREP33067

Mobile Edge Computing Market Outlook

The mobile edge computing market is likely to strengthen its hold in the global market at a promising CAGR of 49.7% between 2022 and 2032.

The market is valued at US$ 1 bn in 2022 and is likely to reach US$ 58.4 Bn by 2032. Previously, the market was thriving at a much higher CAGR of 57.4% (2015-2021), resulting in a mobile edge computing market size of US$ 713.2 Mn in 2021.

Attributes Details

Mobile Edge Computing Market CAGR (2022-2032)

49.7%

Mobile Edge Computing Market Value (2022)

US$ 1 Bn

Mobile Edge Computing Market Value (2032)

US$ 58.4 Bn

The increased need for low-latency processing and real-time automated decision-making solutions and the increasing necessity among companies to supply QOE is driving the expansion of the mobile edge computing market.

Furthermore, the rise of autonomous vehicles and connected automobile infrastructure and emerging MEC application areas such as AR/VR provide considerable potential opportunities for the mobile edge computing industry. However, the absence of necessary infrastructure and deployment capabilities limits the market's growth.

mobile-edge-computing-market

What is the COVID-19 Impact on the Mobile Edge Computing Market?

The mobile edge computing market has been severely impacted by COVID-19. Furthermore, the risk of a global economic downturn due to the pandemic might significantly reduce IT budgets in the coming months, reducing the potential client base for new 5G technologies.

However, due to the COVID-19 outbreak, 5G smartphones sales and network implementation are expected to stall, thereby impeding the growth of the mobile edge computing industry.

As per the mobile edge computing market study, many nations are delaying the rollout of 5G as a result of COVID, which is expected to impede the growth of the mobile edge computing market directly.

What Factors Contributes to the Growth of the Mobile Edge Computing Market?

The demand for mobile edge computing is anticipated to grow steadily, owing to industry participants' aggressive investments in creating cutting-edge technologies and giving more effective solutions to consumers.

Market expansion for mobile edge computing is being fuelled by factors such as increasing demand for global cloud infrastructure and an increase in the number of intelligent applications. The growing demand for mobile edge computing solutions is driven by the desire to improve end-user QoE (Quality of Experience) and the demand for ultra-low latency. MEC assists real-time applications with data analysis and processing procedures.

Over the next several years, the 5G network and the advent of various new languages and frameworks for IoT solutions are anticipated to provide significant mobile edge computing market growth prospects.

Due to increased efficiency, lower costs, and the increasing necessity of organisations to provide superior QoE, location-based services are expected to grow at one of the fastest rates of all services in the future years, which would positively impact the mobile edge computing market outlook.

What Limits the Growth of the Mobile Edge Computing Market?

Mobile edge computing needs more local hardware, which leads to an increase in maintenance costs, which could hinder the market's expected expansion. Despite being relatively safe, edge computing also demands continual updating and monitoring because cyber-attacks are getting increasingly complex.

There is also a scarcity of skilled labour to handle the highly complicated technologies. The mobile edge computing market share's expansion could be hampered by a lack of deployment capability and infrastructure.

What are the Key Trends Prevailing in the Mobile Edge Computing Market?

Mobile data is expanding quickly as the number of connected devices grows, increasing the demand for telecommunication and network services. As the demand for mobile data, especially mobile video services, grows, mobile network operators (MNOs) are under constant pressure to supply high-quality services to consumers.

The drive for next-generation networks in numerous end-use industries highlights the increasing market potential of computation and resources that can revolutionise real-time organisations. The mobile edge computing (MEC) industry comprises an IT service environment and sophisticated cloud computing capabilities that process data closer to the end-user.

The market for mobile edge computing is being driven by the demand for low-latency networks, localised data, and improved IoT. Mobile edge computing has helped improve the quality of experience (QoE) in a variety of industries, including entertainment, manufacturing, and transportation.

Comparative View of Adjacent Mobile Edge Computing Market

Attributes Mobile Edge Computing Market

CAGR (2022-2032)

49.7%

Market Value (2026)

US$ 42.3 Bn

Growth Factor

Mobile data is expanding quickly as the number of connected devices grows, resulting in an increase in demand for telecommunication and network services.

Opportunity

5G network, as well as the advent of various new languages and frameworks for IoT solutions, to provide significant market growth prospects.

Key Trends

MNOs are rapidly implementing MEC technology to provide subscribers with high-quality service (QoS) .

Comparative View of Adjacent Software-Defined Networking Market

Attributes Software-Defined Networking Market

CAGR (2022-2032)

19%

Market Value (2026)

US$ 32.7 Bn

Growth Factor

CSP investment in SDN technology to automate network infrastructure, a considerable reduction in CAPEX and OPEX, and increased demand for cloud services are the primary growth drivers for the SDN industry.

Opportunity

The growing adoption of IoT technology necessitates the creation of a network to connect these devices.

Key Trends

For all stakeholders in the software-defined networking business, efficiently changing existing technologies and traditional infrastructure is a huge undertaking.

Comparative View of Adjacent Edge Computing Market

Attributes Edge Computing Market

CAGR (2022-2032)

19%

Market Value (2026)

US$ 87.3 Bn

Growth Factor

Because of the expansion of IoT, enterprises are increasingly relying on centralised cloud computing and storage solutions to manage their data.

Opportunity

Edge computing in autonomous vehicles can improve the accuracy and speed with which data is processed, allowing edge data centres to offload non-critical data while keeping crucial data in the vehicle.

The expansion of the mobile edge computing industry is fueled by rising data traffic, the desire for low latency computing, and better Quality of Experience (QoE).

Furthermore, the proliferation of smartphones in emerging countries such as India and China is fueling the expansion of the mobile edge computing market as demand for real-time access and social media grows, as does the focus on delivering high bandwidth and low latency.

However, the mobile edge computing market expansion is constrained by a lack of essential infrastructure and deployment capabilities, considerations such as regulatory and legal framework, and privacy and security concerns.

In addition, new revenue streams for service providers and chances for businesses in upcoming mobile edge computing application areas of AV/VR are expected to provide significant market prospects.

What is the Segmentation Outlook for the Mobile Edge Computing Market?

Component, application, organisation size, industry vertical, and region are all mobile edge computing market segments. It is divided into two types of components: solutions and services. Location-based services, video surveillance, unified communication, optimal local content distribution, data analytics, and environmental monitoring are the different types of applications.

It is divided into two categories based on the company's size--small and medium businesses and large businesses. BFSI, retail & e-commerce, manufacturing, government & defence, energy & utilities, IT & telecom, education, healthcare, and others are the industry verticals.

The mobile edge computing market is divided into four regions: North America, Europe, Asia-Pacific, and Latin America.

Which Segment is Likely to Lead the Mobile Edge Computing Market by Component?

The hardware category accounted for the highest share of the mobile edge computing market in 2020, based on components. One of the primary causes driving investments in mobile edge computing technology include edge gateways and hyper-converged infrastructure and rising investment in 5G installations across the telecommunications industry to improve service quality.

Which is the Leading Region in the Mobile Edge Computing Market?

Regions CAGR (2022-2032)

United States

49.1%

United Kingdom

35%

China

61.3%

Japan

60.5%

South Korea

62%

North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa held the largest proportion of the worldwide mobile edge computing market in 2020, followed by Europe, Asia Pacific, Latin America, and the Middle East, and Africa.

However, AsiaPacific is predicted to rise during the forecast period as a result of growing investments in telecoms sectors, government projects to promote digitization, huge investments in IoT & cloud technologies, and widespread visibility of smart devices in emerging economies such as India and China.

How does Competition Influence the Mobile Edge Computing Market?

The mobile edge computing market is competitive, and it appears to be moderately concentrated, with only a few major competitors. In terms of mobile edge computing market share, several of the players are projected to dominate. New firms are growing their market presence and expanding their commercial footprint throughout emerging markets as a result of the increased network bandwidth provided by 5G services.

Companies are gaining a considerable competitive edge as a result of technological improvements, and the industry is also seeing a number of alliances and mergers. A persistent challenge has been posed by larger market participants in other industries, including as Verizon, Singtel, and Vodafone, who are attempting to gain a fresh foothold or make a grand entry into the mobile edge computing industry.

Some Recent Developments in the Mobile Edge Computing Market Include:

Nokia claims to have released the first commercial service enablement platform' (SEP) for Open RAN deployments in February 2021. One of the move's significant advances, according to the company, was combining the RAN Intelligent Controller (RIC) with multi-access edge computing (MEC) and integrating them to run on a single platform.

The RIC brings programmability to the RAN, allowing for the incorporation of AI or machine learning, for example, whereas mobile edge computing is the invention that essentially created a place at the edge for non-mobile applications.

June 2020 - In collaboration with Ericsson, Vodafone Germany has launched a 5G network in a box solution. Vodafone Redbox may be used both indoors and outdoors, and it can be used to make use of Vodafone's mobile communications network.

Report Scope

Attributes Details

Forecast period

2022-2032

Historical data available for

2015-2021

Market analysis

USD Bn for Value

Key Countries Covered

  • U.S.
  • Canada
  • Brazil
  • Mexico
  • Germany
  • Italy
  • France
  • U.K.
  • Spain
  • Russia
  • BENELUX
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Indonesia
  • Malaysia
  • Australia and New Zealand
  • GCC Countries
  • Turkey
  • Northern Africa
  • South Africa

By Market Segments

  • Components
  • Application
  • Organization Size
  • Verticals
  • Region

Key Companies Profiled

  • ZTE Corporation
  • Saguna Networks Ltd
  • Nokia Corporation
  • Juniper Networks Inc
  • Intel Corporation
  • IBM Corporation
  • ADLINK Technology Inc
  • Huawei Technologies Co Ltd.

Pricing

Available Upon Request

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)

Region

  • North America
    • US
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • Japan
    • Australia
    • Rest of APAC
  • Middle East
    • UAE
    • Saudi Arabia
    • South Africa
    • Rest of MEA
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America

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Companies Covered in This Report

  • ADLINK Technology, Inc.
  • Huawei Technologies Co., Ltd.
  • IBM Corporation
  • Renesas Electronics Corporation
  • Intel Corporation
  • Juniper Networks, Inc.
  • Nokia Corporation
  • Saguna Networks Ltd.
  • ZTE Corporation

Frequently Asked Questions

The mobile edge computing market is expected to rise at a growth rate of 49.7% throughout the forecast period.

The U.S. mobile edge computing market is the largest with a forecasted valuation of US$ 18.4 Bn by 2032.

Hardware is the leading segment by component with a growth rate of 51.2% through the forecast period.

The mobile edge computing market is projected to reach a market valuation of US$ 58.4 Bn by 2032.

The IT & Telecom mobile edge computing industry vertical is projected to rise at a rate of 51.8% through the forecast period.

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