The global mobile edge computing (MEC) market size reached US$ 811.7 Million in 2023. Looking forward, the publisher expects the market to reach US$ 5,528.9 Million by 2032, exhibiting a growth rate (CAGR) of 23.8% during 2023-2032.
Mobile edge computing (MEC) is an emerging technology that aims to move infrastructure-based cloud resources, such as computation, storage, and bandwidth, to the edge of the cellular network. It establishes the network edge by utilizing various access points, such as routers, switches, hotspots, WiFi, servers, and controllers. MEC is widely used in location-based services, video surveillance, unified communication, data analytics, and environmental monitoring. It distributes computing resources across the network, provides more scalable performance, reduces network load, and hastens data transmission. It also reduces network congestion and latency and improves device performance. As a result, MEC finds extensive applications across the retail, telecommunications, energy, and healthcare industries.
2. What is the expected growth rate of the global Mobile Edge Computing (MEC) market during 2024-2032?
3. What are the key factors driving the global Mobile Edge Computing (MEC) market?
4. What has been the impact of COVID-19 on the global Mobile Edge Computing (MEC) market?
5. What is the breakup of the global Mobile Edge Computing (MEC) market based on the component?
6. What is the breakup of the global Mobile Edge Computing (MEC) market based on organization size?
7. What is the breakup of the global Mobile Edge Computing (MEC) market based on the application?
8. What are the key regions in the global Mobile Edge Computing (MEC) market?
9. Who are the key players/companies in the global Mobile Edge Computing (MEC) market?
Mobile edge computing (MEC) is an emerging technology that aims to move infrastructure-based cloud resources, such as computation, storage, and bandwidth, to the edge of the cellular network. It establishes the network edge by utilizing various access points, such as routers, switches, hotspots, WiFi, servers, and controllers. MEC is widely used in location-based services, video surveillance, unified communication, data analytics, and environmental monitoring. It distributes computing resources across the network, provides more scalable performance, reduces network load, and hastens data transmission. It also reduces network congestion and latency and improves device performance. As a result, MEC finds extensive applications across the retail, telecommunications, energy, and healthcare industries.
Mobile Edge Computing (MEC) Market Trends:
Significant growth in the telecommunications industry across the globe is creating a positive outlook for the market. MEC enables telecommunication businesses to lessen their reliance on the cloud and assist in processing large volumes of data generated by devices. In line with this, the widespread technology adoption in various industrial verticals to improve quality of experience (QoE), provide low latency computing, and enhance operational efficiency is favoring the market growth. Furthermore, the growing need to manage enormous data traffic due to the rapid proliferation of smartphones and interconnected devices is acting as another growth-inducing factor. Additionally, the rising MEC utilization in emerging technologies, such as artificial intelligence (AI), the Internet of Things (IoT), and federated learning (FL) to reduce power consumption, improve response time, and enhance performance by offering higher bandwidth is providing an impetus to market growth. The increasing demand for the solution can also be attributed to the rising need to facilitate the expansion of fifth-generation (5G) technology by enabling automation and scalability, providing privacy and security, and ensuring significant cost savings. Other factors, including extensive research and development (R&D) activities towards developing new hardware, and emerging product applications in augmented and virtual reality (AR/VR), are anticipated to drive the market growth.Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global mobile edge computing (MEC) market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on component, organization size and application.Breakup by Component:
- Hardware
- Software
Breakup by Organization Size:
- Small and Medium Enterprises
- Large Enterprises
Breakup by Application:
- Location-based Services
- Video Surveillance
- Unified Communication
- Optimized Local Content Distribution
- Data Analytics
- Environmental Monitoring
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
- The competitive landscape of the industry has also been examined along with the profiles of the key players being ADLINK Technology Inc., Advantech Co. Ltd., Artesyn Embedded Technologies (Advanced Energy Industries Inc.), AT&T Inc., Cisco Systems Inc., Huawei Technologies Co. Ltd., Intel Corporation, International Business Machines Corporation, Nokia Corporation, Saguna Networks Ltd. (COMSovereign Holding Corp), Telefonaktiebolaget LM Ericsson, Vapor IO Inc. and Vodafone Group Plc
Key Questions Answered in This Report
1. What was the size of the global Mobile Edge Computing (MEC) market in 2023?2. What is the expected growth rate of the global Mobile Edge Computing (MEC) market during 2024-2032?
3. What are the key factors driving the global Mobile Edge Computing (MEC) market?
4. What has been the impact of COVID-19 on the global Mobile Edge Computing (MEC) market?
5. What is the breakup of the global Mobile Edge Computing (MEC) market based on the component?
6. What is the breakup of the global Mobile Edge Computing (MEC) market based on organization size?
7. What is the breakup of the global Mobile Edge Computing (MEC) market based on the application?
8. What are the key regions in the global Mobile Edge Computing (MEC) market?
9. Who are the key players/companies in the global Mobile Edge Computing (MEC) market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Mobile Edge Computing (MEC) Market
6 Market Breakup by Component
7 Market Breakup by Organization Size
8 Market Breakup by Application
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- ADLINK Technology Inc.
- Advantech Co. Ltd.
- Artesyn Embedded Technologies (Advanced Energy Industries Inc.)
- AT&T Inc.
- Cisco Systems Inc.
- Huawei Technologies Co. Ltd.
- Intel Corporation
- International Business Machines Corporation
- Nokia Corporation
- Saguna Networks Ltd. (COMSovereign Holding Corp)
- Telefonaktiebolaget LM Ericsson
- Vapor IO Inc
- Vodafone Group Plc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 143 |
| Published | March 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 811.7 Million |
| Forecasted Market Value ( USD | $ 5528.9 Million |
| Compound Annual Growth Rate | 23.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 13 |
