The global mobile edge computing market is expected to reach US$ 838.12 Mn by 2032 from US$ 12.31 Bn in 2022, thriving at a highly strong CAGR of 34.8% throughout the forecast period.
The zeal to offer quality of experience (QoE) to end users, growing demand for high bandwidth, and rising adoption of ultra-low latency are the major factors driving the popularity of mobile edge computing platforms.
In addition to this, rising mobile data accessibility, increasing number of interconnected devices and enhanced demand from telecom and network services are likely to the contribute to the adoption of mobile edge computing software.
Covid-19 has impacted multiple marketing channels and supply chains while it has not impacted the mobile edge computing market much as the remotely driven work demands for better productivity and high data traffic handling capabilities.
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The increasing number of interconnected devices and mobile data is excessively growing, thereby increasing the demand for enhanced telecommunication platforms and network services. These factors fuel the sales of mobile edge computing platforms and expand the market size in new regions.
Increased delivery of quality services along with the rising competition in the market, enhancing the sales of mobile edge computing.
Integration of mobile edge computing platforms with the latest technologies such as artificial intelligence, machine learning and the internet of things (IoT) is increasing the space and enhancing the operational capability, fuelling the sales of mobile edge computing systems.
Mobile edge computing is likely to play a significant role with the advent of 5G network bandwidth, as it can handle the online data traffic with ease, reducing the latency for 5G/4G networks.
Telecom giants and search engines like Google would provide end-users with unique applications that are supposed to be cloud-based to help the 5G network with the traffic handling systems.
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Key Takeaways
- The hardware segment of the mobile edge computing market is expected to lead in the component category through the forecast period, attributing to 5G deployments all around the world.
- Location-based services hold prominence and are likely to hold the largest portion of the Mobile edge computing market by application, owing to the positioning technologies and improved data transmission.
- The large enterprises segment is the biggest in the mobile edge computing market as per organization size, attributed to increased generation of data and wide geographical presence.
- Data analytics application is the second biggest segment by application category in the mobile edge computing market, owing to its integration with the latest big data technology.
- Asia Pacific is the world’s fastest-growing region, accounting for the lion’s share of the worldwide business-to-consumer industry and rapidly increasing 5G network deployments and high penetration of smartphones.
Competitive Landscape
The mobile edge computing market is highly competitive, with multiple vendors with an aggressive pricing range. Adilink Technology Inc, Brocade Communications, Huawei Technologies Co. Ltd, Juniper Networks Inc, Nokia corporation, Vasona Networks, Vodaphone and Vapor IO Inc are some of the major companies. These vendors use press releases, significant R&D spending, Marketing campaigns (Online & Offline), partnerships, mergers and acquisitions, and other growth tactics to keep up with the high competition.
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