LONDON, Sept. 17, 2020 /PRNewswire/ -- According to a new
market research report titled, "Mobile Edge Computing
Market by Component, Application (Location-based Services,
Unified Communication, Optimized Local Content Distribution, Data
Analytics, Environmental Monitoring), Organization Size, and Region
– Global Forecast to 2027." The mobile edge computing
market is expected to grow at a CAGR of 30.1% from 2020 to 2027 to
reach $2.8 billion by 2027.
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Mobile edge computing is a network architecture that enables IT
and cloud-computing capabilities at the edge of a cellular network.
It is a new option for network providers challenged to meet
consumer demands for improved coverage and greater bandwidth. It is
mainly used to reduce network congestion and improve applications
by performing related processing tasks closer to the end user. The
technology is designed to be implemented at cellular base stations,
providing rapid deployment of applications and other customer
services. The increasing need among enterprises to deliver QoE
along with rising demand for low-latency processing and real-time
automated decision-making solutions are anticipated to boost the
growth of this market. However, the lack of required infrastructure
and deployment capabilities are obstructing the growth of the
market.
Impact of COVID-19 on the Mobile Edge Computing
Market
In the first quarter of 2020, the world was hit by the COVID-19
pandemic. The outbreak was declared as the global pandemic by WHO,
as it has spread in many countries across the globe and raised the
number of cases multi-folds in few weeks. The COVID-19 pandemic has
adversely hit many economies around the globe. The combat measures
such as complete lockdown and quarantine to fight against COVID-19
have put strong adverse impacts on many industries across the
globe, including the telecommunication industry.
The COVID-19 outbreak will have a serious impact on the mobile
edge computing market because the GDP of the many countries has
taken a toll, and adoption of 5G technology will be
delayed because the 3GPP standards body has been sidelined by the
COVID-19 outbreak. Moreover, the possibility of a general economic
recession in response to the pandemic could severely shrink IT
budgets in the coming months, making the potential customer base
for new 5G technology commensurately smaller. Due to the outbreak
of COVID-19, the growth of 5G support smartphone sales and network
deployment will likely be slowed, which can obstruct the
development of the mobile edge computing market to some extent.
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Moreover, due to the COVID-19 pandemic, many countries are
postponing the deployment of 5G technology, which can directly
hamper the growth of the mobile edge computing market. For
instance, United Internet's CEO, Ralph
Dommermuth, said that the construction of its subsidiary
1&1 Drillisch's 5G network would experience delays due to
current measures adopted in the country to prevent a further spread
of the COVID-19 pandemic in Germany. 5G buildout could take a short to
medium-term hit because of economic slowdown given the spread of
COVID-19 outbreak globally and resulting in supply chain
disruption, 5G technology hardware delays and general effects of
the economic downturn. But in the longer term, the burgeoning needs
for home connectivity, digital health and even economic stimulus
measures may give 5G technology buildout a boost. So, it is
expected that 2020 would be a tough time for the growth of the
mobile edge computing market.
The overall mobile edge computing market study presents
historical market data in terms of value (2018 and 2019), estimated
current data (2020), and forecasts for 2027. The market is
segmented on the basis of component (hardware, software, &
services), application (location-based services, video
surveillance, unified communication, optimized local content
distribution, data analytics, and environmental monitoring),
organization size (large enterprises and small & medium-sized
enterprises) and geography. The study also evaluates industry
competitors and analyses the market at a country level.
Based on component, the overall mobile edge computing market is
segmented into hardware, software, and services. In 2020, the
hardware segment is estimated to account for the largest share
of the overall mobile edge computing market. Rapidly increasing
investment in IoT and 5G technology, along with their high
deployment rate is fueling the growth of this segment.
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Based on application, the overall mobile edge computing
market is segmented into location-based services, video
surveillance, unified communication, optimized local content
distribution, data analytics, and environmental monitoring. In
2020, the location-based services segment is estimated to
account for the largest share of the overall mobile edge computing
market. Recent developments in positioning technologies and
improved data transmission through cloud computing and 5G are
expected to drive the growth of this segment.
Based on organization size, the overall mobile edge computing
market is segmented into large enterprises and small &
medium-sized enterprises. In 2020, the large enterprises
segment is estimated to command the largest share of the overall
mobile edge computing market. Large-scale enterprises are deploying
mobile edge computing technology owing to the increasing need for
improved quality of service. Moreover, the rising data generation
with greater data response requirements along with growing network
subscriber base across the world has increased the demand for
advanced mobile edge computing solutions among large
enterprises.
Geographically, the North American region is estimated to
command the largest share of the global mobile edge computing
market in 2020. However, Asia-Pacific region is expected to witness
rapid growth during the forecast period, owing to increased
investments in telecommunication sectors, government initiatives to
encourage digitalization, heavy investments in IoT & cloud
technologies, and high penetration of smart devices in emerging
economies.
The report also includes an extensive assessment of the key
strategic developments adopted by leading market participants in
the industry over the past four years. The mobile edge computing
market has witnessed a number of product launches in recent years.
The global mobile edge computing market is consolidated and
dominated by few major players, namely, Huawei technologies co.,
Ltd. (China), Saguna Networks,
Ltd. (Israel), Juniper Networks,
Inc. (U.S.), IBM Corporation (U.S.), Intel Corporation (U.S.),
Vapor IO (U.S.), ZephyrTel (U.S.), AT&T, Inc. (U.S.), Nokia
Corporation (Finland), Renesas
Electronics Corporation (Japan),
Corning, Inc. (U.S.), Adlink Technology, Inc. (Taiwan), Advantech Co., Ltd. (Taiwan), Emerson Electric co. (U.S.), and
GigaSpaces Technologies, Inc. (U.S.), among others.
To gain more insights into the market with a detailed table
of content and figures, click
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Scope of the Report:
Mobile Edge Computing Market, By
Component
- Hardware
- Software
- Services
Mobile Edge Computing Market, By
Application
- Location-based Services
- Video Surveillance
- Unified Communication
- Optimized Local Content Distribution
- Data Analytics
- Environmental Monitoring
Mobile Edge Computing Market, By Organization
Size
- Large Enterprises
- Small and Medium-sized Enterprises (SMEs)
Mobile Edge Computing Market, By
Geography
- North America
-
- Europe
-
- U.K.
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
-
- China
- India
- Japan
- Rest of Asia-Pacific
- Latin America
- Middle East and Africa
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