Mobile Edge Computing Market To Grow At 32.0% CAGR During 2021 to 2029

According to a new market research report published by Brisk Insights “Mobile Edge Computing Market ((Component- Hardware (Servers, Routers, Switches, Controllers, Gateways), Software (MEC Platform, Application)), (Application- Location-based, Video Surveillance, Unified Communication, Optimization Local Content Distribution, Data Analytics, Environmental Monitoring), (Organization Size- Large Enterprises, Small and Medium-sized Enterprises)) – Growth, Future Prospects and Competitive Analysis, 2021 - 2029”, the overall mobile edge computing market worldwide was valued at US$ 423.12 Mn in 2020 and is set to grow with a CAGR of 32.0% during the forecast period.

Market Insights

Development of new applications and technologies across the globe are driving the growth for mobile edge computing market worldwide. Mobile edge computing, also known as multi access edge computing (MEC) is a network architecture type which safeguards better assimilation of cloud computing capabilities and IT service environment. There has been an increase in the number of interrelated devices which in turn has yield in an exponential growth of mobile data consumption thus driving the growth of the mobile edge computing market. As a result of aforementioned factors, we expect that the mobile edge computing market will show remarkable growth during the forecast period.

Based on organization size, the mobile edge computing market is led by large enterprises segment in 2018. The increased emphasis on improving the end users’ (quality of service) QoS and rising demand for high bandwidth is driving the growth of the mobile edge computing market. Notably, adoption of mobile edge computing market requires a fairly enormous infrastructure and decent deployment capabilities among the enterprises. These factors are aptly provided by large enterprises.  Further, due to tremendous growth of data analysis and demand for ultra-low latency we expect that the segment will continue its dominance during the forecast period.

Based on the geography, North America dominates the mobile edge computing market in 2018. Adoption of 5G technology in the region and continuous expenses on research and development segment is driving the growth of the mobile edge computing market in the region. Further, Asia Pacific shall be the fastest growing region during the forecast period. The region is a manufacturing hub for smartphones and has over 500 tech hubs. Rising adoption of smartphone and increased internet penetration in the region will be the major growth contributor for the mobile edge computing market.  Thus, we expect that Asia Pacific region will grow significantly during the forecast period 2019-2029.

Some of the major companies profiled in the report include Adlink Technology Inc., Advantech Co., Ltd., Artesyn Embedded Technologies Inc., Brocade Communications Systems, Inc., Huawei Technologies Co., Ltd., Juniper Networks, Inc., Nokia Corporation, Saguna Networks Ltd., Vapor IO, Inc., and Vasona Networks, Inc. among others.

Browse the full report at https://www.briskinsights.com/report/mobile-edge-computing-market

The Global Mobile Edge Computing Market is Segmented into:

*Complete segmentation list is on report page