PUNE, India, August 2, 2017 /PRNewswire/ --
According to a new market research report "Mobile Edge Computing Market by Component (Hardware and Software), Application (Location-Based Services, Video Surveillance, Unified Communication, Optimized Local Content Distribution, Data Analytics), Organization Size and Region - Global Forecast to 2022", published by MarketsandMarkets™, the Mobile Edge Computing (MEC) market size is expected to grow from USD 185.8 Million in 2017 to USD 838.6 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 35.2%.
Browse 29 Market Data Tables and 31 Figures spread through 110 Pages and in-depth TOC on "Mobile Edge Computing Market"
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The demand for MEC is majorly driven by increasing need to improve end-user's Quality of Experience (QoE). With the rising demand for ultra-low latency and high bandwidth requirements, the adoption rate of MEC technology among enterprises is expected to gain a major traction during the forecast period.
The location-based services application segment is expected to hold the largest market share
The location-based services segment makes use of real-time geographical data from a mobile device in order to provide information, entertainment, and security. In other words, location-based services allow a variety of services linked to a particular place, to be recommended to a user at the right time. Furthermore, to improve the QoE with respect to the usefulness of the recommended service, the user's behavior log and preference can be collected in the users' mobile terminal, and then be delivered to the location-based service application. This accounts for the largest market size of the location-based services.
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Asia Pacific (APAC) is projected to grow at the highest CAGR during the forecast period
North America is estimated to hold the largest market share in 2017, while APAC is projected to be the fastest growing region with the highest CAGR, since enterprises in this region are looking for a more cost-effective approach, thus the growth opportunities are high in the APAC region.
The major vendors providing MEC technology are Adlink Technology Inc. (Taiwan), Advantech Co., Ltd. (Taiwan), Artesyn Embedded Technologies Inc. (California, US), Brocade Communications Systems, Inc. (California, US), Huawei Technologies Co., Ltd. (Shenzhen, China), Juniper Networks, Inc. (California, US), Nokia Corporation (Espoo, Finland), Saguna Networks Ltd. (Israel), Vapor IO, Inc. (Texas, US), and Vasona Networks, Inc. (California, US).
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