Mobile Edge Computing Market: Segmented by Industry Vertical (Agriculture and Energy and Utilities, Healthcare), by Component (Edge-managed Platforms, Software, Hardware and Services) and Region - Global Analysis of Market Size, Share & Trends for 2019-2020 and Forecasts to 2030
Mobile Edge Computing is a groundbreaking approach to cloud computing systems optimization. This refers primarily to the systems that enable computational to be carried out at the edge of the network. Edge computing is responsible for aligning data collection and control mechanisms, high bandwidth storage, and end-user-related applications. Battery life for the battery-operated IoT devices is boosted by the shorter times of open communications channels caused by an improved latency. Edge computing also enables efficient data storage, with cleaner data sets for cloud-based analysis as data collection and data processing are done at the edge of the network.
This growth is anticipated due to growing escalation of the Internet of Things and increasing concerns for security in public places. In the coming years, the IoT phenomenon is expected to expand with the organization's digital transformation initiatives. The exponential growth and growing use of IoT in companies would lead the fuel the edge computing industry. As IoT has increased in several high-computing linked mobile devices, companies have gained access to and stored large volumes of data in the repository.
Global Edge Computing market is segmented by industry vertical: Healthcare, agriculture, and energy and utilities. The growing need to close the gap between theoretical performance and the actual production of grid systems promotes the adoption of edge computing practices by grid producers. Therefore, a large number of data generated from power stations distributed need to be processed and analyzed at a faster pace to enable successful decision-making based on data. Many of the driving forces that help the industry expand include the use of intelligent functionalities such as automatic metering (AMR), distributed generators remote control, grid automation, and real-time power analysis.
The global Edge Computing Market is segmented by component into Hardware, Software, Services, and Edge-managed Platforms
Increasing cloud-based applications, in which the server plays a crucial role and functions as the non-visible computer base for the services on which users are dependent, provide the highest percentage.
Growing espousal of IoT
The emergence of IoT led to a substantial increase in data, as businesses rely more and more on centralized cloud computing and storage solutions. Movement of the entire IT industry to the cloud poses economic feasibility issues. Therefore, these companies are continuously searching for edge computing resources including edge nodes, instruments, and hyper-located data centers, using IoT sensors, actuators, and other IoT tools.
Advent of autonomous vehicles
Mobile Edge computing in autonomous motor cars can make it possible to use the collected data better and more accurately, enabling edge computers to offload non-critical data in the edge data centers and to preserve essential data within the vehicle. In addition, edge computing can help achieve situational awareness within a space of time combined with Artificial intelligence (AI ) and machine learning (ML) by providing local processing power to facilitate the processing of large quantities of data produced by autonomous automobiles.
In using digital technologies to effectively simplify and accelerate business processes companies are moving rapidly towards digitization. Initial investment in edge computing is still a major load on the capital expenditure of the company. For businesses that are pursuing comprehensive edge computing solutions, investments in cutting-edge nodes, other edge tools, and edge data centers are significant. They would also have to invest more in ensuring the protection of devices and the whole network. As a result, multiple service suppliers are reluctant to switch to the edge only because of low latency processing
Advantech Co., Ltd. (Taiwan)
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Mobile edge computing market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. Global Mobile edge computing in North America held the largest market share in the year 2020. In 2020, America accounted for the greatest share of the agricultural precision market. A number of startups that provide platforms to develop an edge-enabled solution are creating a driving force for the region's industrial growth. For example, in Canada telecommunication companies, including Telus Communications, are developing MobiledgeX, Inc., an early access program that will empower developers to build experiments and measure the efficiency of edge-enabled applications in a low latency environment.
|Market size value in 2021
|USD 730 million
|Revenue forecast in 2030
|USD 2.1 billion
|CAGR of 36.65% from 2021 to 2030
|Base year for estimation
|Revenue in USD million and CAGR from 2021 to 2030
|Revenue forecast, company ranking, competitive landscape, growth factors, and trends
|Industry vertical, component, and Region
|North America; Europe; Asia Pacific; Latin America; Middle East & Africa (MEA)
Key companies profiled
|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), Other Prominent Players.
The Mobile edge computing market size was estimated at USD 730 million in 2021 and is expected to reach USD 2.1 billion by 2031.
players Advantech Co., Ltd. (Taiwan), Adlink Technology Inc. (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), Vasona Networks, Inc. (California, US)
Energy and utilities market segment are anticipated to hold the Mobile edge computing market
Growing espousal of IoT and Advent of autonomous vehicles and Advent of autonomous vehicles.
Mobile Edge Computing is a groundbreaking approach to cloud computing systems optimization. This refers primarily to the systems that enable computational to be carried out at the edge of the network. Edge computing is responsible for aligning data collection and control mechanisms, high bandwidth storage, and end-user-related applications.
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