The Mobile Edge Computing Market was valued at USD 186.2 Million in 2019, and it is estimated to be worth USD 736.18 Million by 2025, registering a CAGR of 26.4% during the forecast period (2020 - 2025)

NEW YORK, Sept. 7, 2020 /PRNewswire/ -- The Mobile Edge Computing Market was valued at USD 186.2 Million in 2019, and it is estimated to be worth USD 736.18 Million by 2025, registering a CAGR of 26.4% during the forecast period (2020 - 2025). Enterprises across industries are beginning to drive new levels of performance and productivity by deploying different technological innovations, like sensors, and other data-producing and collecting devices, along with analysis tools. Traditionally, data management and analysis are being performed in the cloud or data centers. However, the scenario seems to be changing with the increasing penetration of network-related technologies and initiatives, such as smart manufacturing, smart cities, etc.


Read the full report: https://www.reportlinker.com/p05962033/?utm_source=PRN


- Although the adoption is presently not common, over the forecast period, some large enterprises, especially across industries, such as telecom and manufacturing, are expected to use mobile edge computing (MEC), especially concerning IoT. With more than 50 billion connected devices expected, Huawei predicts that, by 2020, over 50 % of data may be analyzed, processed, and stored at the network edge.
- As enterprises embrace these new technologies, the need to analyze essential data in near real-time has become more critical to adopt the adopted technologies. The demand has become vital across many industries, including manufacturing, healthcare, telecommunications, and finance. Moreover, the explosion of data (according to SharesPost, more than 150 zettabytes (150 trillion gigabytes) of data is estimated to be generated by 2025) pushed the need further. It made factors, like network latency, very critical.
- Furthermore, with the current 4G networks reaching their maximum limit, 5 G is going to have to have to manage online traffic far more intelligently, in which mobile edge computing will play a significant role. With the management of the data load, MEC is expected to play a substantial part in reducing latency for 5 G networks.
- Moreover, in March 2020, Google announced its vision for enabling telecommunication providers to provide business services through 5G networks. Through the Global Mobile Edge Cloud (GMEC) strategy, Google and telecom companies will offer unique applications and services running at the edge delivered via the 5G networks.
- In March 2020, Four operators, Telefonica, KT, China Unico, and Telstra, started work with technology company Altran to develop and test software solutions that they will then submit to open source and standards organizations developing mobile edge computing (MEC) standards. The initiative, which is called as the Multi-Operator Multiaccess Edge Computing (MEC) Experience, is part of the GSMA Operator Platform project.
- However, it is delayed due to the global lockdown caused by COVID-19. The pandemic has negatively affected the market studied due to the shutdown of operations of companies globally. Three interrelated technologies, the internet of things (IoT), 5G, and edge computing, are expected to see a large stall in spending, which will affect the market to a certain extent.

Key Market Trends
Telecommunication is Expected to Hold Major Share

- Telecommunications is one of the fastest evolving industries in the global market. It is currently in the process of upgrading its infrastructure to prepare for the 5G transition, which makes it a suitable time for telecom end-users to invest in the mobile edge computing resources.
- With the rise in an enormous amount of data, generated from millions of subscribers streaming terabytes of videos, music, and social networking every day, enterprises are facing high network load, and increasing demand for network bandwidth is expected to cater by the increase in the spectrum bandwidth along with ultra-low latency rate.
- As 5G deployment is gaining traction worldwide, MEC architecture is evolving quickly to keep up with the expansion of 5G networks. Companies in the market are integrating MEC with 5G to distribute networking demands effectively.
- Tremendously improved capabilities could be handled on an exponentially increasing number of connected devices, enabling a wide range of latency and bandwidth dependent, cross-industry technologies and applications including artificial intelligence (AI) and the Internet of Things (IoT), machine learning, autonomous vehicles, connected cars.
- In March 2019, SK Telecom announced the launch of its '5G Mobile Edge Computing Open Platform'. By opening up the '5G Mobile Edge Computing Platform', SK Telecom will secure the basis for expanding the MEC-related ecosystem and accelerating the release of 5G services.

North America is Expected to Hold Major Share

- North America is home to the three major cloud service providers, Amazon Web Services, Microsoft 's Azure, and Google Cloud. This region is also the hub for all the major technological innovations such as 5G, autonomous driving, IoT, Blockchain, gaming, and Artificial Intelligence, among others.
- This region is known to be an early adopter of new technologies. Most new technologies at present are data intensive. They create, process, and transfer large amounts of data, due to which the current infrastructure, consisting of data centers and cloud, is inching toward its maximum capacity.
- With the number of new data generated and used at present, these infrastructures won't be able to support the needs of their customers. Of all the parameters involved, latency is going to be the most crucial factor for the business. Most businesses rely on real-time data access and processing, so low latency could disrupt their whole process. This is where edge computing has helped infrastructure developers address the issue. With new technologies maturing, edge computing is expected to have a significant impact.
- In October 2019, Intel acquired the software business Smart Edge for USD 27 million from Pivot Technology Solutions based in Toronto. The company has collaborated with Intel to develop and take to market many new edge computing use cases. The cloud-native Smart Edge can be scaled for multi-access edge computing (MEC). In November 2019, TELUS, and MobiledgeX announced that the MobiledgeX Early Access Program would soon open in Canada. Due to regulatory concerns, the US government has delayed the auction of the 5G spectrum, due to which mobile edge computing did not grow at the pace that was expected in this region.
- Further, in March 2019, Molex, Accenture, and AWS showcased their edge computing solution for next-gen AVs in this region. The data published by the California Department of Motor Vehicles on AVs showcased how global companies are testing their autonomous solutions in this region. Currently, only Waymo has been able to develop a system that can function for more extended periods, without disengagement. Latency is going to play an essential role in real-time data transfer between the vehicle and the data centers. With the number of AVs set to increase, mobile edge computing is poised to handle these demands.

Competitive Landscape
The mobile edge computing market is moderately competitive and appears to be moderately concentrated, which consists of a few significant players. Some of the players are expected to dominate the market in terms of market share. However, with the enhancement in the network bandwidth due to the 5G services, new players are increasing their market presence, expanding their business footprint across the emerging economies. Technological advancements in the market are bringing significant competitive advantage to the companies, and the market is also witnessing multiple partnerships and mergers.

- March 2020 - Nokia has announced that it is adding 5G and edge capabilities to its Worldwide IoT Network Grid (WING) managed service. As part of the 5G introduction, Nokia said that WING allows the user plane functions to be separated and extended to the far network edge or enterprise premises, ensuring ultra-low latency. In parallel, this distributed WING infrastructure can be enhanced with multi-access edge computing (MEC) technology, improving the ability to support compute-intensive IoT services such as AR/VR maintenance, and cellular vehicle-to-everything (C-V2X) use cases.
- January 2020 - SK Telecom announced that it had accomplished a standalone (SA) 5G data call on its commercial 5G network. The data call used network equipment from both Ericsson and Samsung. The company said that it has also applied critical 5G technologies such as network slicing and mobile edge computing (MEC) to its SA 5G network. Network slicing partitions a single physical system into multiple virtual mobile networks. Mobile Edge Computing minimizes latency in a 5G network by providing a shortcut for data transmission through the installation of small-scale data centers at 5G base stations.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

Read the full report: https://www.reportlinker.com/p05962033/?utm_source=PRN

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

__________________________
Contact Clare: [email protected]  
US: (339)-368-6001
Intl: +1 339-368-6001

SOURCE Reportlinker

Related Links

www.reportlinker.com