Mobile Edge Computing is evolving as a new normal in the ICT Domain and as it is essential for the implementation of the 5G Network it has a long way to go, thereby finding application in every industrial vertical such as Industrial IoT, Smart Cities, Retail, Automotive and BFSI offering lucrative opportunities for new players and existing players alike.
The Global MEC Market is expected to grow at a significant CAGR of 26.4% to reach a Market Size of USD 736.18 Mn in 2026 from a value of USD 186.2 Mn in 2020.
- Definition / Scope
- Market Overview
- Market Risks
- Top Market Opportunities
- Market Drivers
- Market Restraints
- Industry Challenges
- Technology Trends
- Post COVID-19 Recovery
- Market Size and Forecast
- Market Outlook
- Technology Roadmap
- Competitive Landscape
- Competitive Factors
- Key Market Players
- Strategic Conclusion
Definition / Scope
Mobile Edge Computing (MEC) is advancing with integrated cloud services and resources that are closer to the user's location and can take advantage of edge network resources. The MEC platform seeks to enable real-time compute intensive applications to be executed directly at the network edge by billions of linked mobile devices. It enables software applications to access local material, giving them real-time access to information regarding local access network conditions. Mobile core networks are relieved of further congestion and can efficiently fulfil social purposes by deploying various services and caching material at the network edge.
There are some key benefits of Mobile Edge Computing and some of which includes
- Low latency and reduced network congestion.
- A better user experience is delivered from the proximity of MEC to end-users.
- Can help in conserving the network bandwidth
- Efficiently handle massive internet traffic
- Less data transportation and storage costs
- Efficiently manages high volumes of data with minimal resources like internet bandwidth
Scope of the Global Mobile Edge Computing Report
Mobile Edge Computing - By Component
Mobile Edge Computing - By Application
- Location-based Services
- Video Surveillance
- Unified Communication
- Optimized Local Content Distribution
- Data Analytics
- Environmental Monitoring
Mobile Edge Computing – By Region
- North America
- Asia Pacific (APAC)
- Middle East and Africa (MEA)
- Latin America
Key Findings of the Global Mobile Edge Computing Market Report
- Immersive technologies will be made possible by mobile edge computing, which will be a key enabler of 5G deployment.
- Teleoperation/cloud robotics, telepresence, and virtual reality will provide the most opportunities.
- By 2026, the global mobile edge computing software and APIs market will be worth $1.72 billion.
- By 2026, the global market for MEC software in support of IoT applications will be worth $546 million.
- Manufacturing, healthcare, and automobiles will be the most lucrative industry verticals for MEC.