ALBANY, New York, December 20, 2018 /PRNewswire/ --
The demand within the global mobile edge computing market has been rising on account of the expansive utility of cloud computing and IT services across multiple industries, finds Transparency Market Research (TMR). The vendors within the global market for mobile edge computing have been focusing on providing seamless computing services through cellular networks in order to attract new customers. Although, mobile edge computing has become popular across several key industries, the market players are continually making efforts to popularise the capabilities associated with this form of computing. The leading vendors in the global mobile edge computing market have been focusing on capturing the market of the emerging industries such as healthcare, banking, and defense.
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The smaller market vendors in the global mobile edge computing market are expected to stick to the basics of inbound marketing in order to earn sustainable revenues. Furthermore, the bar of competition in the global market for mobile edge marketing is a expected to elevate as new players enter this market. In order to avert the growing competition, the leading vendors in the global mobile edge computing market are projected to acquire the small and regional players. Some of the key players in the global mobile edge computing market are Huawei Technologies Co., Ltd., Nokia Corporation, Integrated Device Technology, Inc., and PeerApp Ltd.
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A report by Transparency Market Research (TMR) finds that the global market for mobile edge computing would expand at a boisterous CAGR of 51.0% over the period between 2017 and 2025. Furthermore, the global mobile edge computing market was valued at US$73.8 mn in 2016, and this figure is expected to reach a value of US$4228.3 mn by 2025. On the basis of industry vertical, the demand for mobile edge computing in the retail industry has been rising at a starry rate. Based on Geography, the demand for mobile edge computing in North America has escalated new heights in recent times.
Need for Low Latency Networks in Media and Entertainment Industry to Propel Demand
The global market for mobile edge computing has been growing due to the assimilation of hardware and software capabilities across a wide range of industries. The media and entertainment industry has been at the forefront of growth within the global mobile edge computing market. The ability of mobile edge computing to swiftly deliver content to the customers has popularised the use such services across the media and entertainment industry. Furthermore, the relevance of IoT devices across several other industries such as healthcare and finance has also contributed towards the growth of the global market for mobile edge computing. Besides all of this, the growing integrity of telecom networks also necessitates the presence of mobile edge computing which is also prognosticated to propel market demand.
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Popularity of Smart Phones to Aid Market Growth
The global market for mobile edge computing has also expanded alongside the growing popularity of automated vehicles over the past decade. Furthermore, the penetration of smart phones across all the regional pockets has created lucrative opportunities within the global market for mobile edge computing in recent times. BFSI is another domain that has become a key consumer for the global mobile edge computing market over the past few years. Owing to the aforementioned factors, it is safe to prognosticate that the market vendors in the global mobile edge computing market have a lucrative growth path ahead of them.
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The review is based on TMR report titled "Mobile Edge Computing (MEC) Market (Component - Hardware, Software (Video Analytics, Location Services, IoT, Data Caching, and Connected Vehicles), and Service (Consulting, System Integration, and Maintenance); Industry Vertical - Media & Entertainment, Retail, Healthcare, IT & Telecom, and BFSI; Technology - 4G, 5G, and Wi-Max) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025".
Global mobile edge computing market is segment as:
Global Mobile Edge Computing (MEC) Market, by Component Type
- Video Analytics
- Location Services
- Internet of Things (IoT)
- Data Caching
- Connected Vehicles
- System Integration
Global Mobile Edge Computing (MEC) Market, by Industry Vertical
- Media & Entertainment
- IT & Telecom
- Others (Manufacturing & Education)
Global Mobile Edge Computing (MEC) Market, by Technology
Global Mobile Edge Computing (MEC) Market, by Geography type
- North America
- The U.S.
- Rest of North America
- The U.K.
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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