March 31, 2020
Mobile Edge Computing

Mobile Edge Computing Market Analysis With Growing Trends and Forecast to 2027

The global mobile edge computing market was estimated at $258.0 million in 2018 and is expected to grow at a CAGR of 32.0% over the forecast period. Developing new applications and technologies across the globe is driving growth for the global market for mobile edge computing. Mobile edge computing, also known as multi-access edge computing (MEC), is a type of network architecture that better assimilates the capabilities of cloud computing and the IT service environment.The number of interrelated devices has increased, resulting in an exponential increase in mobile data consumption, thus driving the growth of the mobile edge computing market. We expect the mobile edge computing market to show remarkable growth over the forecast period as a result of the above-mentioned factors.

Based on the size of the organization, the mobile edge computing market in 2018 will be led by the segment of large companies. The increased emphasis on improving the QoS (quality of service) of end users and increasing demand for high bandwidth is driving the growth of the market for mobile edge computing. In particular, the adoption of the market for mobile edge computing requires a fairly huge infrastructure and decent deployment capabilities among businesses. Large enterprises properly provide these factors. In addition, due to enormous growth in data analysis and ultra-low latency demand, we anticipate the segment to continue to dominate over the forecast period.

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Mobile data is growing exponentially with an increase in the number of interconnected devices, leading to increased demand for telecom and network services.MNOs continue to face pressure to deliver quality services to subscribers as the desire for mobile data, including mobile video services, is growing rapidly. MEC is a network architecture that allows operators at the edge of mobile networks to deliver new services. Operators use modern technologies such as Network Functions Virtualization (NFV), Virtualized RAN (vRAN), and SDN to develop new types of context-aware and value-added services. Application providers, MNOs and providers of infrastructure are developing innovative applications to leverage the advantage of RAN capabilities. MEC enables service deployment within the RAN to improve user experience and provide an ability that enables operators to manage latency-sensitive services more effectively. In addition, the close proximity of the MEC components at the edge improves the QoE significantly. MNOs are immensely adopting MEC technology to deliver quality of service (QoS) and QoE to subscribers.

The segments of energy and utilities were the largest market share in 2018.The global energy industry has continuously evolved in terms of bidirectionality of the electric grid, efficient energy storage, and public-private investments, transforming the conventional transmission and distribution infrastructure. In particular, edge computing would be a key enabler for smart grid networks. Several cutting-edge IoT devices are being deployed to ensure adequate safety from any impending disaster, having realized that safety monitoring is of paramount importance to protect critical infrastructure, such as oil & gas processing facilities.

North America accounted for more than 45 percent of the largest market share in 2018 and is estimated to maintain dominance throughout the forecast years as the region’s consumer and business sectors rely on IoT devices. Higher cloud adoption in the region contributes to the technology’s continued transition. Development of innovative concepts within the region, such as autonomous cars, is also expected to stimulate regional market growth in the coming years.

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