ALBANY, New York, June 29, 2017 /PRNewswire/ --
The global mobile edge computing (MEC) market is a dynamic and highly competitive one, which is making gigantic strides. This is because savvy players operating in the market are constantly looking to develop more effective solutions in response to the different requirement of end-use companies. They are investing heavily in cutting edge technologies in order to stay on top of the game.
Numerous titans in the field, for example, are involved in coming up with highly advanced hardware and software solutions that will help them steal a march over their competitors. Some such prominent names in the global mobile edge computing (MEC) market are IBM Corporation, Huawei Technologies Co., Ltd., Integrated Device Technology, Inc., Nokia Corporation, PeerApp Ltd., Intel Corporation, Juniper Networks, Inc., ADLINK Technology Inc., Saguna Networks Ltd., Vasona Networks, Inc., ZTE Corporation, and SpiderCloud Wireless, Inc.
As per a report by Transparency Market Research, the global mobile edge computing (MEC) market will likely register a jaw-dropping 51.0% CAGR between 2017 and 2025 to become worth US$4228.3 mn by 2025 from US$73.8 mn in 2016.
Surging Monthly Data Usage Propels Europe Market
Depending upon the component, the global mobile edge computing (MEC) market can be segmented into hardware, software, and service. Of them, the hardware segment accounted for a mammoth 80.0% share in the market in 2016. This is because the entire mobile edge computing architecture is comprised of different hardware, namely servers, processors, routers, and switchers. Going forward too, the segment is predicted to clock maximum growth in the forecast period.
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Geographically, the key segments in the global mobile edge computing (MEC) market are North America, South America, Asia Pacific, Europe, and the Middle East and Africa. Of them, Europe is a major market and accounted for a leading share of about 43.5% in 2016. The primary reason for the region's dominant position is the swift uptake of mobile edge computing on account of increasing monthly data usage and the rising adoption of devices having Internet of Things (IoT).
Low Latency Network for Media and Entertainment Stokes Growth
There are quite a few drivers that are bringing about phenomenal growth in the global mobile edge (MEC) computing market. One of them is the low latency networks especially for media and entertainment purposes. Elaborates the lead analyst of the report, "MEC have the capability to hasten the distribution of media services by distributing content straight from the base station, which considerably improves the consumer experience in aspect of high data traffic growth. This technology allows administrators to well adapt traffic to the dominant radio circumstances, improve network efficiency and enhance service quality." Further, the growing number of IoT devices, automated cars, etc. are also supporting the growth for mobile edge computing market. Moreover, the mobile edge computing market is also predicted to see high demand worldwide owing to its growing application in different applications due to its low latency, high content delivery, and high quality of experience over the forecast period.
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Mobile Edge Computing (MEC) Market (Component - Hardware, Software (Video Analytics, Location Services, IoT, Data Caching, and Connected Vehicles), and Service (Consulting, System Integration, and Maintenance); Industry Vertical - Media & Entertainment, Retail, Healthcare, IT & Telecom, and BFSI; Technology - 4G, 5G, and Wi-Max) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017 - 2025.
Global Mobile Edge Computing (MEC) Market, by Component Type
- Video Analytics
- Location Services
- Internet of Things (IoT)
- Data Caching
- Connected Vehicles
- System Integration
Global Mobile Edge Computing (MEC) Market, by Industry Vertical
- Media & Entertainment
- IT & Telecom
- Others (Manufacturing & Education)
Global Mobile Edge Computing (MEC) Market, by Technology
Global Mobile Edge Computing (MEC) Market, by Geography type
- North America
- The U.S.
- Rest of North America
- The U.K.
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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