The global mobile edge computing market size was US$ 732.9 million in 2021. The global mobile edge market is projected to grow to US$ 1.9 billion by 2030 by registering a compound annual growth rate (CAGR) of 31.6% during the forecast period, i.e., 2021-2030.
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A ground-breaking method for facilitating cloud computing systems is mobile edge computing. This generally refers to the mechanisms that allow computing to take place at the network’s edge.
Factors Influencing the Market
As businesses increasingly rely on cloud computing and storage solutions, the advent of IoT resulted in significant growth in data. There are concerns about the economic viability of shifting the whole IT sector to the cloud. With the aid of IoT sensors, actuators, and other IoT tools, these businesses are therefore always looking for edge computing resources, such as edge nodes, instruments, and hyper-located data centers. Thus, all of these factors will drive the growth of the mobile edge computing market during the study period.
The growing popularity of autonomous vehicles will open doors of opportunity for the edge computing market during the analysis period. In autonomous vehicles, mobile edge computing can make it feasible to use the gathered data more effectively and precisely. It makes it possible for edge computers to transfer unnecessary data to edge data centers while keeping vital data on board the vehicle.
The fact that edge computing helps speed up the process of processing the vast amounts of data generated through autonomous vehicles will boost the growth of the market in the coming years. On the flip side, the high initial investment associated with mobile edge computing may restrict the growth of the market during the analysis period.
COVID-19 Impact Analysis
Due to the COVID-19 pandemic, the automotive industry recorded a sharp drop in terms of revenue, which affected the mobile edge computing market. However, the rise in the adoption of advanced technology in the healthcare and agriculture segment efficiently boosted the growth of the mobile edge computing market.
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Regional Analysis
North America dominated the mobile edge computing market in terms of revenue and is forecast to remain dominant throughout the projected period. It is owing to the steeply growing adoption of advanced technologies across the region’s healthcare and agriculture sectors. In addition, the growing number of startups focusing on the development of advanced edge-enabled solutions will bring ample growth opportunities for the mobile edge computing market during the study period.
An early access program called MobiledgeX, Inc., for instance, is being developed by telecom firms like Telus Communications in Canada. It will allow developers to create tests and assess the effectiveness of edge-enabled applications even in a low latency setting.
Competitors in the Market
• Advantech Co., Ltd. (Taiwan)
• Adlink Technology Inc. (Taiwan)
• Artesyn Embedded Technologies Inc. (California, US)
• Brocade Communications Systems, Inc. (California, US)
• Huawei Technologies Co., Ltd. (Shenzhen, China)
• Juniper Networks, Inc. (California, US)
• Nokia Corporation (Espoo, Finland)
• Saguna Networks Ltd. (Israel)
• Vapor IO, Inc. (Texas, US)
• Vasona Networks, Inc. (California, US)
• Other Prominent Players
Market Segmentation
The mobile edge computing market segmentation focuses on Component, Industry Vertical, and Region.
By Component type:
• Hardware
• Software Services
• Edge-managed Platforms
By Industry Vertical:
• Healthcare
• Agriculture
• Energy and utilities
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By Regional Outlook
● North America
o The U.S.
o Canada
o Mexico
● Europe
▪ Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
▪ Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America
What is the goal of the report?
1.The market report presents the estimated size of the market at the end of the forecast period. The report also examines historical and current market sizes.
2.During the forecast period, the report analyzes the growth rate, market size, and market valuation.
The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
3.The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.
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