Mobile Edge Computing Market by Component - Global Forecast to 2022

According to new market research report "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 Mobile Edge Computing (MEC) market size 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 demand for MEC is majorly driven by increasing need to improve end-users Quality of Experience (QoE). With the rising demand for ultra-low latency and high bandwidth requirements, the adoption rate of MEC technology among enterprises is expected to gain a major traction during the forecast period.

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With voluminous rise in data, generated from millions of subscribers streaming terabytes of videos, music, and social networking every day, enterprises are facing various challenges such as high network load and increasing demand for network bandwidth. To overcome these challenges, enterprises are significantly focused on optimizing and densifying their RAN. Thus, to enhance user experience and better utilize the bandwidth, the MEC technology is a feasible option. MEC allows operators to optimize the traffic within the prevailing radio conditions, enhance service quality, and improve network efficiency. Traditionally, the computational power was centralized at the core network, but in MEC, cloud servers are also deployed in each base station. MEC environment provides real-time radio information, which can be used by applications and services to optimize content delivery and utilize the network efficiently. Moreover, it enables MNOs to quickly deploy various monetizing services for content delivery, Internet of Things (IoT), retail, and enterprise applications.

The MEC market has been segmented on the basis of components into hardware and software. On the basis of applications, the market has been segmented into location-based services, video surveillance, unified communications, optimized local content distribution, data analytics, and environmental monitoring. On the basis of organization sizes, it has been segmented into Small and Medium Enterprises (SMEs) and large enterprises. On the basis of regions, it has been segmented into North America, Europe, APAC, MEA, and Latin America.

The MEC market in APAC is expected to grow at the highest CAGR during the forecast period. APAC is the fastest-growing market for MEC. 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. As a result, APAC holds a significant share of the overall MEC market.

Key players in the market include Adlink Technology Inc. (Taiwan), Advantech Co., Ltd. (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), and Vasona Networks, Inc. (California, US). These players are increasingly undertaking mergers and acquisitions, and product launches to develop and introduce new technologies and products in the market.

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