VANCOUVER, BC, Jan. 5, 2023 /PRNewswire/ -- The Mobile Edge Computing (MEC) market size reached USD 488.4 Million in 2021 and is expected to register a CAGR of 31.2% during the forecast period, according to latest analysis by Emergen Research. Increasing demand for real-time automated decision-making solutions is the key factor driving market revenue growth. The main goal of MEC is to reduce the latency and improve the performance of applications and services that require real-time processing or fast communication with the network.
Drivers:
Mobile Edge Computing can support real-time automated decision-making solutions by providing fast, low-latency communication with the network and by enabling the processing of large amounts of data close to the edge of the network. This can be especially useful in applications and services that require fast, accurate decision-making, such as autonomous vehicles, real-time video analytics, and the Internet of Things (IoT).
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As the demand for real-time automated decision-making solutions continues to grow, it is likely that MEC will become increasingly important to support these types of applications and services. This is expected to drive revenue growth for MEC as more companies adopt the technology to support their real-time decision-making needs. For example, Huawei is using MEC to support the real-time decision-making of autonomous vehicles. By bringing computing resources closer to the edge of the network, MEC can help autonomous vehicles make fast, accurate decisions based on data from sensors and other sources.
AT&T is using MEC to support the real-time decision-making of IoT devices. By bringing computing resources closer to the edge of the network, MEC can help IoT devices process data from sensors and other sources, and make fast, accurate decisions based on that data. Additionally, as MEC becomes more widely adopted, it is expected that new applications and services will emerge that are specifically designed to take advantage of the low-latency, high-performance capabilities of the technology, further driving revenue growth of the market.
Restraints:
The complexity of integrating multiple technologies with mobile edge computing is the main restraining factor for the revenue growth of the market. MEC typically involves the integration of a variety of hardware and software components, including servers, storage, networking equipment, and application software. Integrating these components can be a complex and time-consuming process, which can be a restraint for MEC deployment. Another potential restraint is the cost of integrating multiple technologies. MEC typically involves the deployment of additional hardware and software components, which can increase the cost of the system. This can be a restraint for companies or organizations that are looking to deploy MEC, especially if they have limited budgets.
Growth Projections:
The mobile edge computing market is expected to register a CAGR of 31.2% over the forecast period and revenue is projected to increase from USD 488.4 Million in 2021 to USD 5,541.3 Million in 2030. Growing adoption of latency-specific applications is expected to drive the revenue growth of the market.
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Current Trends and Innovations:
The rising trend of the adoption of latency-specific applications among organizations in recent years is driving revenue growth in the market. More companies and organizations adopt this technology to support their low latency needs. For example, MEC can be used to support real-time video analytics for a variety of applications, including security, traffic management, and retail. By enabling the processing of large amounts of video data close to the edge of the network, MEC can help systems make fast, accurate decisions based on the data.
Strategic Initiatives:
Major companies included in the market report are Adlink Technology Inc., Artesyn Embedded Technologies Inc., Juniper Networks, Inc., IBM Corporation, Intel Corporation, Brocade Communications Systems, Inc., Huawei Technologies Co., Ltd., Vasona Networks, Inc., Vapor IO, Inc. and Saguna Networks Ltd.
- On May 18, 2020, IBM announced new services and solutions backed by a broad ecosystem of partners, to help enterprises and telecommunications companies accelerate their transition to edge computing in the 5G era. This effort combines IBM's experience and expertise in multi-cloud environments with Red Hat's industry-leading open-source technology, which was acquired by IBM in one of the largest technology acquisitions in history last year. Red Hat OpenShift, the industry-leading enterprise Kubernetes platform, powers IBM's new products. It is available everywhere from the data center to several public clouds to the edge.
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Scope of Research
Report Details | Outcome |
Market Size in 2021 | USD 488.4 Million |
CAGR (2022-2030) | 31.2 % |
Revenue Forecast to 2030 | USD 5,541.3 Million |
Base Year for Estimation | 2021 |
Historical Data | 2019-2020 |
Forecast Period | 2022-2030 |
Quantitative Units | Revenue in USD Million and CAGR in % from 2022 to 2030 |
Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Segments Covered | Structure, distribution channel, application, connectivity, and region |
Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Country Scope | U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa |
Key Companies Profiled | Adlink Technology Inc., Artesyn Embedded Technologies Inc., Juniper Networks Inc., IBM Corporation, Intel Corporation, Brocade Communications Systems, Inc., Huawei Technologies Co., Ltd., Vasona Networks, Inc., Vapor IO, Inc. and Saguna Networks Ltd. |
Customization Scope | 10 hours of free customization and expert consultation |
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Emergen Research has segmented mobile edge computing market on the basis of component, organization size, application, and region:
- Component Outlook (Revenue, USD Million; 2019-2030)
- Hardware
- Software
- Service
- Organization Size (Revenue, USD Million; 2019-2030)
- Large Enterprises
- Small and Medium-sized Enterprises (SMEs)
- Application Outlook (Revenue, USD Million; 2019-2030)
- Location-based Services
- Unified Communication
- Data Analytics
- Environmental Monitoring
- Optimized Local Content Distribution
- Video Surveillance
- Regional Outlook (Revenue, USD Million, 2019 - 2030)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Rest of LATAM
- Middle East & Africa
- UAE
- Saudi Arabia
- Africa
- Rest of Middle East
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