Beancounters at Transparency Market Research have added up some numbers and reached the conclusion that the global mobile edge computing (MEC) market is a dynamic and highly competitive one, which is making gigantic strides.
In a report, the analysts said that players operating in the market are constantly looking to develop more effective solutions in response to the different requirement of end-use companies.
They are investing heavily in cutting-edge technologies to stay ahead.
The report said that the many titans in the field were coming up with highly advanced hardware and software solutions that will help them steal a march over their competitors.
The top names in global mobile edge computing (MEC) market are IBM, Huawei, IDT, Nokia, PeerApp, Intel, Juniper, ADLINK, Saguna, Vasona Networks, ZTE and SpiderCloud Wireless.
As per a report by Transparency Market Research, the global mobile edge computing (MEC) market will register 51.0 per cent CAGR between 2017 and 2025 to become worth $4228.3 million by 2025 from $73.8 million in 2016.
Depending upon the part, the global mobile edge computing (MEC) market can be segmented into hardware, software, and service. Of them, the hardware segment accounted for a mammoth 80 percent share in the market in 2016.
The report claims this is because the entire mobile edge computing architecture is comprised of different hardware – servers, processors, routers, and switches. The segment is predicted to clock maximum growth in the forecast period.
Geographically, the key segments in the global mobile edge computing (MEC) market are North America, South America, Asia-Pacific, Europe, and the Middle East and Africa.
Europe is a major market and accounted for a leading share of about 43.5 percent in 2016. The primary reason for the region’s dominant position is the swift uptake of mobile edge computing on account of increasing monthly data usage and the rising adoption of devices having Internet of Things (IoT).
There are quite a few drivers that are bringing about phenomenal growth in the global mobile edge (MEC) computing market, the report said. One of them is the low latency networks, especially for media and entertainment purposes.
“MEC has the capability to hasten the distribution of media services by distributing content straight from the base station, which considerably improves the consumer experience in an aspect of high data traffic growth. This technology allows administrators to adapt traffic to the dominant radio circumstances, improve network efficiency and enhance service quality,” the report said.
Further, the growing number of IoT devices, automated cars, etc. are also supporting the growth of the mobile edge computing market. Moreover, the mobile edge computing market is predicted to see high demand worldwide owing to its growing application in different applications due to its low latency, high content delivery, and high quality of experience over the forecast period.