Mobile Edge Computing Market by Component (Hardware and Software), Application (Location-Based Services, Video Surveillance, Unified Communication, Optimized Local Content Distribution, Data Analytics), Organization Size and Region - Global Forecast to 2022
The increasing need to improve end-user's Quality of Experience (QoE) is driving the MEC market
The Mobile Edge Computing (MEC) market is expected to grow from USD 185.8 million in 2017 to USD 838.6 million by 2022, at a Compound Annual Growth Rate (CAGR) of 35.2%. The market is driven by factors, such as increasing need for improving end-user's QoE and rising demand for ultra-low latency and high bandwidth. However, the major hindrance faced by the enterprises while adopting MEC is the lack of required infrastructure and deployment capabilities.
Data analytics application is expected to have the fastest growth rate during the forecast period
One of the applications of MEC is data analytics, which is growing at the fastest rate during the forecast period. MEC is specifically used to capture key information for analytics and big data due to its proximity to the source of information, this one of the reasons for the fastest growth rate of the data analytics segment in the market.
North America is expected to hold the largest market share, whereas Asia Pacific (APAC) is expected to grow at the fastest rate during the forecast period
North America is the foremost potential market due to the presence of a large number of players offering the MEC technology in this region. This region is expected to hold the largest market size during the forecast period, as organizations are more focused on achieving ultra-low latency and faster delivery of MEC applications. Furthermore, organizations have invested hugely on advanced technologies to gain competitive advantage and improve business operations. The APAC region is in the initial growth phase; however, it is the fastest growing region in the global MEC market. The increasing adoption of MEC solutions in this region is due to the large subscriber base, which seems to be positive for enterprises. The MEC technology would help MNOs monetize their applications and improve the profitability margins.
The break-up profiles of primary participants are given below:
• By company: Tier 1 – 43%, Tier 2 – 35%, and Tier 3 – 22%
• By designation: C-level – 60%, Director level – 25%, and Others – 15%
• By region: North America – 44%, Europe – 25%, APAC – 21%, and RoW – 10%
The following key MEC providers are profiled in the report:
1. Adlink Technology Inc. (Taiwan)
2. Advantech Co., Ltd. (Taiwan)
3. Artesyn Embedded Technologies Inc. (California, US)
4. Brocade Communications Systems, Inc. (California, US)
5. Huawei Technologies Co., Ltd. (Shenzhen, China)
6. Juniper Networks, Inc. (California, US)
7. Nokia Corporation (Espoo, Finland)
8. Saguna Networks Ltd. (Israel)
9. Vapor IO, Inc. (Texas, US)
10. Vasona Networks, Inc. (California, US)
The MEC market has been segmented on the basis of components (hardware and software), applications, organization size, and regions. A detailed analysis of the key industry players has been done to provide key insights into their business overviews, products and services, key strategies, new product launches, partnerships, agreements and collaborations, business expansions, and competitive landscape associated with the MEC market.
The report will help the market leaders/new entrants in this market in the following ways:
• This report segments the MEC market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across different regions.
• This report helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
• This report will help stakeholders to better understand the competitors and gain more insights to enhance their position in the business. The competitive landscape section includes vendor comparison of top market players in the MEC market.